In 2023, the market size for manicure or pedicure preparations in New Zealand stood at 21.285 million USD, reflecting a continual decline over the past few years. From 2018 to 2023, the market experienced a consistent downturn with a Compound Annual Growth Rate (CAGR) of -1.37%. The largest annual decrease was recorded in 2018 with a -16.78% change. In the years 2021 and 2022, the market contracted by -2.43% and -2.46% respectively, with a 2023 contraction of -2.5%.
Future trends to watch:
- Disruption due to innovative manicure or pedicure technologies and products could potentially reverse or stabilize the declining trend.
- Growing consumer preference for home-based beauty solutions may spur demand for manicure/pedicure preparations.
- Sustainability and environmental concerns might impact consumer choices and demand, influencing market dynamics.
