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The nail color and care market is in a slump, according to a recent personal care report on the nail color and care market for 2005 released by Research and Markets Ltd. Nail color and care reportedly reached US$754 million in 2005, declining 9% from the US$830 million in sales for 2000.
All sectors of nail color and care suffered losses, according to the report, except for nail implements. The report highlights nail polishes, treatments and accessories to have taken a notable hit with a 13 percent drop in sales from 2000 to 2005. In addition, the polish remover segment saw a 18 percent drop in sales.
A possible solution to the declining sales in the nail color and care market may be products targeted toward teens and the ethnic population, according to the report. Approximately four in five teenage girls reportedly use nail polish. Likewise, a growing U.S. ethnic population with an increasing purchasing power may lead companies to tailor more nail products to the Hispanic, black, and Asian population.