The US nail color and care market battled through the recession and is tipped to see sales reach $4 billion in 2017 thanks to the at-home trend as well as the popularity of these products with moms.
As the economic crisis hits and purse strings tightened, more women turned to at-home nail care options, boosting the market, according to Mintel.
The market researcher notes that nearly a quarter of women with children report usage compared to one-in-ten in households without children.
And it is mothers that Mintel has highlighted as an important consumer group as they may be tight on time and lack the extra income to spend at a spa, but are still looking to treat themselves to some ‘fashion-forward’ beauty.
Four out of five of those with children use colored nail polish versus 65 percent without children, according to the latest study.
"The beauty industry generally benefits when consumers have higher levels of disposable income; however, the nail care industry has experienced strong growth in recent years, despite the weak economy," says Shannon Romanowski, beauty and personal care analyst at Mintel.
"Nail polish offers women an affordable way to experiment with new colors and stay current with fashion trends, often for less than $10 a bottle. The affordability of nail polish, combined with new products and colors, makes nail care a reasonable splurge for lower- to middle-income women."
Youngsters chipping in
As well as moms, young women are also helping to drive the nail care segment, with use of colored nail polish highest among women aged 18-24.
"Nail care users younger than 35 are significantly more likely than their older counterparts to view wearing nail polish as a way to express their personality and follow fashion trends,” continues Romanowski.
“Meanwhile, those between 35 and 44 feel that painting their nails is a way to pamper themselves and take a moment of 'me time' in their busy schedules."
Not all about money?
Money has obviously had a big role to play in the at-home trend; however, Mintel claims that health and safety fears over salons and time constraints are also important factors.
The nail color and care market in the US grew by nearly three-quarters since 2007, with sales estimated at $2.5 billion at the end of 2012.
Growth is expected to continue through 2017, albeit at a slower pace than previous years, with sales expected to reach just over $4 billion.