According to Kline's exclusive Professional Nail Care Global Market Brief, the explosive growth in sales of professional nail care products outshined resilient but modest growth rates in other cosmetics categories, posting over 25% increase globally in 2012.
Demand is being driven by the fact that nail care services, as well as at-home do-it-yourself nail products, are affordable indulgences. In addition, many new types of nail products have been launching, including pricey gel polish. Kline says that over 30 new gel products have launched over the past two years, and gel products are selling at stellar rates - posting nearly a 30% growth in 2012.
"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, project manager of Kline's report. "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."