The nails & self-grooming industry growth rate in India and other unconventional factors leading for its exponential growth.

The nail grooming market in India is booming and it is valued at approximately INR 3000 crores. It's growing at a rate of 8%–10% (CAGR). These figures are a derivation of what's being reported on the government sites, and therefore the numbers could be larger if we were to account for the unorganized market of the nail industry.

There are a few reasons why the growth is so exponential and is only set to rise in the coming decade and more.

The disposable income

According to Times of India, there is a rise in the disposable income on average one in every three Indian households. That leaves you with surplus cash to expend on yourself and your loved ones.

Social proof via influencers and friends

Social proof is a psychological bias theory which means if the people in your circle get a manicure every 3 weeks, there is a good chance you would too. The social proof & status theory by stat is high in India's tier 1 and tier 2 cities.

Supply

The Indian beauty salon market is expected to grow by 40% in revenue by 2026. In the D2C sector, platforms like Urban Clap meet end-to-end needs of the customer with respect to all salon services, delivered at the customer's home. slap.com is another D2C brand providing dip powders wherein durable acrylic nails can be built at the comfort of your home.

Ease

Booking appointments via apps or a quick phone call has been made easier than ever. The convenience and accessibility have as a result made more people to invest and engage in grooming services furthermore.

Confidence

A pretty manicure—if you're a girl reading this you already know how that claw game boosts your confidence & self-esteem. A study by Harvard students from 2019 stated that a nail set or a manicure can have a positive impact on your mind because nails are a part of your body and when you feel good about your body, there is a surge in the feel-good emotions.

Advocacy of self-care

In the modern day and age, self-care has now been built into the storytelling of the cosmetic business. Such rituals have now found a permanent place in the commercial beauty space which has led to a rise in growth resulting from such advocacy.

Global influence

We have learned that the west almost always sets the highest beauty standards. India has witnessed the rise in latching onto the global trends—whether it is Korean skincare or chrome cat eye nails. We crave what they already have.

Import duty on cosmetics

The import duty in India for cosmetic products has been relaxed in recent years—a drop of 5% duty which is quite significant. This has been done to promote economic growth by encouraging awareness of global trends and replicating that in manufacturing within India.