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Thanks to the ever expanding nail industry, whether it’s a new range of colours or the latest nail art trend, nail varnish has equalled the sales of lipsticks for the first time, reveals new figures.
Feathered, caviar, leather, textured, more colours than you could ever wish for that’s the current state of the nail varnish industry – it’s safe to say it’s big and forecast figures suggest it’s only going to continue to grow.
Research by consumer analysts Mintel reveals that in 2012, the value of the UK nail varnish market equalled lipstick sales with both having a market value of £229 million.
Nail polish is now used by more than half of British women, mainly favourite by the 16-24 year old group.
But it’s no surprise when there is such a huge offering to choose from. New nail colour product launches, which accounted for 10% out of total new launches in the colour cosmetics category in 2008, shot up by 26% in 2012.
Charlotte Libby, household and personal care analyst at Mintel, told Mail Online: “The fact that the nail colour cosmetics market has equalled that of the lip colour market for the first time highlights the growing popularity of nail polish.
“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. An explosion of new textures and effects is emerging which allows young women in particular to easily personalise their nail look.”
The colour cosmetics market is expected to reach nearly £1.5 billion this year - an annual growth of two per cent - and could hit £1.9 billion by 2018.
In terms of trends, the most popular new products in 2013 are colour cosmetics with long-lasting features.
Charlotte continued: “As well as fitting with the time pressures of modern life, colour cosmetics with long-lasting claims appeal to value-seeking consumers as a product which requires less frequent application and will last longer.
“Growth opportunities for colour cosmetics products lie in creating products which are quicker and easier to use to appeal to modern women.”
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