USD 877 million
Report ID: SQSG30L2032 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 66 | Figures: 75
Global Self-tanning Products Market size was valued at USD 877 million in 2021 and is poised to grow from USD 909.2 million in 2022 to USD 1.31 million by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).
Global demand for self-tanning skincare products is growing as consumer income grows and education and awareness of the health hazards associated with direct sunlight rises. Additionally, the demand and use of self-tanning products have increased owing to the increase in skin cancer incidence, predicting a significant spike in business throughout the projection period. Furthermore, products are produced in a variety of forms for the convenience of the client, including lotion, serum, drops, and crème. Demand for that product has improved as a result of these many possibilities.
Over the past several years, the demand for self-tanning products has steadily expanded. The need for naturally derived self-tanning products increased public knowledge of sun protection, and the expanding appeal of spray tans are all factors contributing to the market's expansion. Likewise, customers' preferences for glowing skin, particularly among women, have boosted expenditure on self-tanning products.
US Self-tanning Products Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 877 million
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The global self-tanning products market segmentation is based on product, distribution channel, and region. Based on product the market is segmented into lotions, gels, spray, oil, cream, and others. Based on distribution channels the market is segmented into supermarkets, convenience stores, online, and others. Based on region the global self-tanning products market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Self-tanning Products Market Analysis by Product
In 2021, over 54.5 % of the market was accounted for by the lotions category, and this dominance is estimated to persist over the projected timeframe. All through the projected period, the rising cases of skin cancer and other illnesses brought on by contact with UV rays are responsible for stimulating the market for lotions. Unlike creams, lotions have a lower oil content or perhaps none at all. Alcohols are typically included in these emulsions to avoid the oil and water elements from breaking, giving the finished product a smooth feel. Lotions are also less viscous, which makes them simpler to pour or pump. Nevertheless, it is expected that the gels category will grow at a rapid speed over the projection period.
Self-tanning Products Market Analysis by Distribution Channel
In 2021, the supermarkets segment had the major market share (54.8%), and it is estimated that it would continue to dominate during the forthcoming years. These are commercial superstores that offer a broad selection of goods from several sectors, including groceries, home furnishings, and regular commerce, as well as cosmetics and beauty items, everything under one sky. This draws customers to this method of distribution.
Yet, it is expected that throughout the forecast years, the sector for online distribution channels will increase at the quickest speed. The epidemic has sparked a technological surge in a variety of industries. Additionally, the demand for the online channel is growing since more workers find themselves too occupied at work to browse local shops.
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In 2021, owing to rising customer expenditure on skincare, the market in North America is estimated to account for the largest share of the overall self-tanning products market. Customers are increasingly engaged in implementing advanced and safer cosmetic techniques since they are more concerned about how they seem.
Due to growing awareness regarding UV radiation, the self-tanning product market in the Asia Pacific is predicted to grow more quickly over the course of the projected period. Additionally, the market for self-tanning products is expected to grow as a result of the rising urbanization in emerging economies on cosmetic goods.
In the following period, Latin America is expected to experience tremendous growth. The market growth is expected to be significantly influenced by the slow but steady economic development in Latin American nations, which would result in increased spending on beauty goods.
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Self-tanning Products Market Driver
Self-tanning Products Market Restraint
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A few well-established firms as well as several small- and medium-sized companies make up the global market. One of the most important strategic actions in the sector to obtain competitiveness is product releases. As demand for self-tanning products rises, industry participants are expanding their r&d. budgets and extending their product lines. For instance, in January 2022, the harmless self-tanner from Naru Organics was introduced. It provides consumers with the greatest self-tanner on the market, created from organic and naturally derived materials.
Top Players in the Global Self-Tanning Products Market
Self-tanning Products Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in 2021, over 54.5 % of the market was accounted for by the lotions category, and this dominance is estimated to persist over the projected timeframe. In 2021, the supermarket’s section had the major market share (54.8%), and it is estimated that it would continue to dominate during the forthcoming years. In 2021, North America dominated the global self-tanning products market owing to rising customer expenditure on skin care and is estimated to continue to dominate during the forthcoming years.
|Market size value in 2021||USD 877 million|
|Market size value in 2030||USD 909.2 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Self-tanning Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Self-tanning Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG30L2032