Nail colour set to overtake lip colour by end of 2013
According to the market analyst, in comparison to 2011, the nail sector stood at £221 (€261) million, compared to £224 (€264) million for lip colour cosmetics – continued growth that has ultimately boosted the overall sector.
Now an increased 'passion' for nail colour is said to be ensuring that the sector is clawing its way to level pegging and is even expected to grow by a further 1.7 per cent in 2013, overtaking the lip segment by the end of this year to reach an estimated £233 million (vs £232 million for the lip colour cosmetics market).
Segment drivers…
Mintel attributes the surge in this segment as also being reflected in product innovation, with a record number of new nail colour products entering the market in 2012, up 400 per cent compared to 2008, with the trend looking set to continue in 2013.
“While new nail colour product launches accounted for 10 per cent out of total new launches in the colour cosmetics category in 2008, the percentage shot up to 26 per cent in 2012.”
This year (January to August 2013) they accounted for 27 per cent, leading new development in the colour cosmetics category (this compares to 26 per cent of lip colour cosmetics and with 23 per cent of eye colour cosmetics).
According to household and personal care analyst Charlotte Libby, “The growth in new product development of nail polish can be linked to self-expression and the desire to keep up to date with current trends. Nail art continues to be a driving factor in sales.”
Overall market growth prediction
Overall, the colour cosmetics market is estimated to reach nearly £1.5 billion in 2013, an annual growth of 2 per cent from 2012. The outlook for the next five years is positive too, with a growth expected at a more rapid pace, to reach £1.9 billion in 2018.
In terms of trends, Mintel says the most popular new product claims in 2013 are colour cosmetics with long-lasting features (45 per cent of total new product introductions in the colour cosmetics category carried this claim to date in 2013).
The claim is most prominent in face and eye make-up, with 55 per cent of products launched in the face make-up category and 52 per cent in the eye make-up category carrying this feature. Brightening and illuminating claims (41 per cent) and seasonal* (34 per cent) follow.
