According to market researcher Kline, the professional nail care market posted 25 percent growth globally in 2012, outshining the resilient but modest growth rates in other cosmetics categories.
"Contrary to the waning performance of some other professional care segments, the limping economy is fueling industry growth by prompting consumers to enjoy and indulge in a little affordable luxury," observes Agnieszka Saintemarie, Professional Nail Care: Global Market Brief project manager.
"Moreover, fashion trends are favoring nails with nail-art fashion transforming women's nails into stylish accessories, supported by an encouraging flood of innovative, fashion-forward nail-care products."
Latin America leading the way
The Kline report also says that the introduction of over 30 important new gel brands in the past two years, consequently raising gel products recognition, also has spurred the market excellence; the segment posting 30 percent growth last year.
This is not the case right across the board, with countries such as Brazil, still preferring the traditionally more affordable nail polish option.
All-in-all professional nail care saw success across the globe, posting double digit growth in all markets in 2012, with Latin America leading the way with the highest increase of over 30 percent due to the increasing number of women in the workplace, the steady launches of new products, and many cultural factors outlined in the report.
The developed markets, such as the US, the UK, and Germany, are also highly driving the market, according to Kline, with the Asia-Pacific region showing the lowest positive growth in 2012.
Kline's report ‘Professional Nail Care: Global Market Brief’ predicts that the professional nail care products market will continue to grow in the future, although at the slower rate.
However, it does reiterate that nail salons must stay current with the latest trends and technologies to remain competitive.