Rapid Industrialization to Boost Self-Tanning Products market Growth by 2022-2032
The global sales of self-tanning products is forecast to garner a market value of US$ 875 Mn in 2022, and is expected to register a CAGR of 4.81% by accumulating a market value of US$ 1.4 Bn through the assessment period 2022-2032
As per Fact.MR’s report, from 2015 to 2021, the global sales of self-tanning products expanded at a CAGR of 4%, amid rising focus on maintaining good skin health. Increasing temperatures globally is leading to rising incidences of skin disorders amid excessive exposure to UV radiation, prompting consumers to invest in advanced skincare products.
Sales temporarily declined during the peak of the COVID-19 pandemic, as the imposition of lockdowns globally led to a decrease in outdoor activity. Restrictions on gatherings in public spaces also meant that individuals were less exposed to direct sunlight, preventing penetration by harmful ultraviolet radiation. However, as the curbs have eased since 2021, people are beginning to step outdoors, causing a spike in self-tanning product sales.
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Rising cases of skin diseases and other health risks associated with sun exposure are a cause of worry for people across the globe. Moreover, demand for lotions and gels has increased as they are products that are used on a regular basis. Not only do self-tanning products offer instant hydration to the skin but they also help in reducing breakouts.
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.
Key Segments Covered in the Self-Tanning Products Market Report
· By Product
- Self-Tanning Lotions
- Self-Tanning Gels
- Other Self-Tanning Products
· By Application
- Self-Tanning Products for Men
- Self-Tanning Products for Women
· By Distribution Channel
- Self-Tanning Product Sales via Supermarkets & Hypermarkets
- Self-Tanning Product Sales via Online Channels
- Self-Tanning Product Sales via Convenience Stores
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