self-tanning products market is anticipated to grow at a CAGR of around 4.81% during the forecast period 2022 to 2032 and to reach around US$ 1.4 Bn by 2032.

ROCKVILLE, MARYLAND, UNITED STATES, March 25, 2022 /EINPresswire.com/ -- Self-Tanning Products Report Overview

The global self-tanning products market size was valued at USD US$ 875 Mn in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.81% from 2022 to 2032.

As consumers have become more aware of the health and long-term aesthetic repercussions of excessive sun exposure, self-tanning solutions have become more popular. Skin cancer cases are steadily rising as a result of widespread UVA and UVB exposure, which has fueled the demand of such devices. The COVID-19 pandemic has had a devastating effect on the market, as the majority of the consumer base is located in Europe and North America, both of which have been significantly impacted by the epidemic.

Because of its capacity to help minimise scars and stretch marks, the product is becoming more popular among pregnant women. Furthermore, the increased creation of novel items designed for usage in adverse weather conditions presents a market potential opportunity. For example, L'Oreal's Sunless Sublime Glow tanning product is suitable for usage in chilly winter climates, as it can help counteract pale facial colouring, dry skin, and other issues.

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The rising popularity of cosmetic products, which is accelerating the growth of various skincare categories, including self-tanning products, in various nations throughout the world, is a driving force for market expansion. According to data released by the Economic Times in February 2018, the Indian cosmetics market grew at a rate of 13- 18 percent in February 2018, and is expected to grow faster than the US and European markets.

Furthermore, men's growing preference for grooming items to improve their appearance is expected to drive up demand. Furthermore, the increased popularity of major brands using celebrities as brand ambassadors to advertise, influence, and attract customers has had a favourable impact on the market. Emilia Clarke is set to become the first brand ambassador for Clinique skincare and beauty products, according to a storey published in the Economic Times in January 2020.

Market Players Focus on Expanding Product Range to Gain Advantage

The demand for self-tanning solutions has continually risen as a result of increased knowledge and scientific data regarding the harmful effects of UV radiation. Market companies are increasingly investing resources in research and development and diversifying their product portfolio in response to the growing interest in self-tanning products.

To boost their market share and presence, several self-tanning product market companies are releasing new items and extending their product portfolio. For example, Tournesol TM announced the debut of its first line of self-tanning products in February 2019.
Bondi Sands also announced the development of an ultra-dark self-tanning foam and increased its product selection in January 2017. Sienna X introduced three new self-tanning products in January 2018 that were previously only available in salons.

Competitive Landscape

Prominent self-tanning product manufacturers are emphasizing on introducing sustainable products, as a part and parcel of their endeavour to reduce their environmental footprint. Moreover, players are also focusing on introducing specific products for a certain set of consumers. Some notable developments are as follows:

• In January 2022, Kao Corporation announced that the company will be launched on the “Go Ethical” platform. The company is focusing on waste reduction through the online shopping site LOHACO.

• St. Tropez, a key player in the self-tanning products market offers a wide range and types of self-tanners. The company is focusing on offering limited edition self-tanning products to attract consumers and to generate revenue.

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Demand for Self-tanning Products to Decline during COVID-19 Pandemic

The COVID-19 pandemic is predicted to have a significant impact on self-tanning product market growth, particularly in 2020. Self-tanning products are not considered as essential products by governments in various countries, resulting in a significant drop in production and demand. Due to the ongoing COVID-19 pandemic and dwindling demand, the tanning salon sector is anticipated to suffer a significant setback.

However, the market is projected to strengthen in the following months as governments are expected to increase investment and gradually allow enterprises to reopen after a temporary time of closure. With spas, salons, and other beauty sector participants scheduled to gradually start services in the fourth quarter of 2020, demand for self-tanning products is projected to rise.

Scope of the Study

A variety of primary and secondary research approaches were used to create the report. The research includes interviews with and profiles of key market participants. The study's extensive competitiveness assessment tries to categorise each company's presence in the overall industrial scene. Companies have been profiled in a balanced manner, from new players to industry giants. The study is a legitimate business document that may assist these firms in strategizing their next moves in the market.

To represent the worldwide judgement, the report has been quantified in US dollars (US$). Furthermore, market size estimates were interpreted using criteria such as compounded annual growth rates, absolute dollar opportunities, and revenue share percentages. The report has tapped into the expertise of industry professionals, trade analysts, and research consultants to produce first-hand data that can predict how demand for self-tanning goods will evolve in the near future.

Companies can utilise the conclusions in this research to plan their product development and entry strategies into untapped markets. The purpose of the research is to assist organisations in following a guided path of business document without making abrupt changes, allowing them to maintain a solid place in the self-tanning products market in the future.

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Key Takeaways from the Market Study

• By product, lotions expected to possess more than 50% market share for self-tanning products market
• By application, women expected to hold more than 60% market share for self-tanning products.
• The self-tanning products industry expected to possess more than 30% market share throughout Europe.
• The self-tanning products industry expected to possess nearly 25% market share throughout Asia Pacific
• As of 2022, self-tanning product sales are expected to be valued at US$ 875 Mn

Key Segments Covered in the Self-Tanning Products Market Report

• By Product

o Self-Tanning Lotions
o Self-Tanning Gels
o Other Self-Tanning Products

• By Application

o Self-Tanning Products for Men
o Self-Tanning Products for Women

• By Distribution Channel

o Self-Tanning Product Sales via Supermarkets & Hypermarkets
o Self-Tanning Product Sales via Online Channels
o Self-Tanning Product Sales via Convenience Stores

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