The market for nail salons has been expanding steadily in recent years as more and more individuals use manicure salons to indulge themselves and stay on top of fashion in the beauty industry. IBISWorld estimates that the U.S. nail salon market is valued $8.5 billion and has been expanding at a 3.3% annual pace between 2015 and 2020.
The market for nail salons is expanding for a variety of reasons, but one of them is the rising acceptance of nail art and design. New nail trends are now easy to find and share with friends thanks to social media sites like Instagram and Pinterest. As a result, there is now a greater demand for detailed and distinctive nail art, which has increased foot traffic at nail salons.
The increased understanding of the significance of wellbeing and self-care is another element. Many people see going to a nail salon as an opportunity to unwind and take a break from their hectic schedules. It should come as no surprise that more individuals are using nail salons as a form of self-care when wellness trends like meditation and mindfulness are on the rise.
The market for nail salons has profited from the rise in male nail salon patronage as well. Manicures and pedicures are now frequently received by men, despite once being thought of as a primarily female activity. For nail salons, this has created a new market and increased their earnings.
In summary, the nail salon market is a booming and expanding sector of the economy. It is evident that more and more individuals are going to nail salons as a method to indulge themselves and keep up with fashion trends, as seen by the industry’s $8.5 billion value and 3.3% annual growth rate. The growth of social media, self-care, and male grooming suggest that the nail salon industry will probably continue to expand in the years to come.