Self-tanning Products Market
Self-tanning Products Market (Product Type: Face Tanner and Body Tanner; Form: Lotion, Gel, Spray, Oil, Cream, and Others; Ingredient: Natural, and Organic; Gender: Male, Female, and Unisex; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Demand for Safe, Healthy, and Natural Self-tanning Products on Rise
The self-tanning products market has witnessed a steady growth in the past decade. Although the global sales of self-tanning products were sluggish in the initial phases due to uncertainty among consumers regarding ingredients, safety, and negative effects of using self-tanning products. The demand for self-tanning products has witnessed consistent growth in the past few years, owing to a range of factors. One of the major factors expected to drive the sales of self-tanning products is the growing evidence and mounting concerns pertaining to the harmful effects of sun tanning on the skin.
The wellness industry is gradually adapting to evolving consumer choices and increasingly turning to natural ingredients to develop self-tanning products. At present, market players are expected to focus on the production of products that offer a natural tan to increase their brand credibility and value. In addition, several leading players in the global self-tanning products market are likely to expand their product portfolio to increase their presence in the market. While regulatory bodies around the world have laid down a solid framework pertaining to the production and marketing of self-tanning products, brands are expected to work toward gaining approval for their products.
At the back of these factors, along with the evolving consumer and regulatory landscape, the global self-tanning products market is expected to cross US$ 2.3 Bn mark by the end of 2030.
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Consumers Leaning Toward UV-free Tan Alternatives amid Reports of Skin Cancer
Over the past few years, consumer trends indicate a tectonic shift away from natural tanning, especially in regions wherein ozone depletion is a major concern. Consumer awareness pertaining to the harmful effects of the sun in certain regions and the growing number of skin cancer cases in regions with high ozone depletion, including Australia, are some of the key factors that have generated considerable interest in self-tanning products. Consumer trends in multiple regions suggest a growing demand for UV-free tan products– a factor that is expected to contribute to the growth of the self-tanning products market in the upcoming years. The growing desire to attain a fashionable and glowing tan, especially in young adults is a major trend that is anticipated to provide boost to the sales of self-tanning products during the assessment period.
The demand for self-tanning products is on the rise, particularly in developed regions, including North America and Europe. Some of the most common self-tanning products that are in demand include body tanner, skin tanner, and face tanner. The increasing documentation of the negative effects of sunlight and UV radiation on the human skin is projected to drive the demand for UV-free tan alternatives.
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Market Players Focus on Expanding Product Range to Gain Advantage
Due to increasing awareness and scientific evidence pertaining to the ill-effects of UV radiation, the demand for self-tanning products has consistently moved in the upward trajectory. Sensing the growing interest in self-tanning products, market players are increasingly investing resources on research & development and diversifying their product portfolio. Several self-tanning products market market players are launching new products and expanding their product portfolio to increase their market share and presence. For instance, in February 2019, Tournesol ™ announced the launch of its inaugural range of self-tanning products. Moreover, in January 2017, Bondi Sands announced the launch of an ultra-dark self-tanning foam and expanded its product portfolio. In January 2018, Sienna X launched three new self-tanning products that were previously available only at salons.
Launch of new products, changes in the product development process, and use of natural and green ingredients are trends within the self-tanning products market.
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Demand for Self-tanning Products to Decline during COVID-19 Pandemic
The COVID-19 pandemic is expected to have a strong impact on the growth of the self-tanning products market especially in 2020. Self-tanning products are not classified as essential products by governments in several nations due to which, the production as well as its demand have taken a major hit. Services in the tanning salon industry are expected to witness a massive setback due to the ongoing COVID-19 pandemic and declining demand. However, as governments are expected to increase spending and gradually allow businesses to reopen post a brief period of lockdown, the market is expected to show signs of improvement in the upcoming months. As spas, salons, and other players in the beauty industry are anticipated to gradually resume services, the demand for self-tanning products is expected to grow toward the last quarter of 2020.
The global self-tanning products market is expected to expand at a healthy CAGR of ~6% during the forecast period. The market growth can be primarily attributed to growing concerns regarding the negative effects of UV radiation, mounting concerns related to skin cancer caused by sunlight, increasing demand for a glowing and fashionable tan, and evolving consumer preferences. In addition, as more number of brands continue to become transparent regarding the choice of ingredients and formulation, sales continue to move in the upward direction. While offline sales are projected to remain higher than online sales, the post-COVID-19 era could present a different story. Brands are likely to focus on expanding their product range and research & development activities to gain an advantage.
Self-tanning Products Market: Overview
- According to the latest market report published by Transparency Market Research on the self-tanning products market for the period 2020-2030 (wherein 2020 to 2030 is the forecast period and 2019 is the base year), expansion of the industrial sector across the globe is expected to drive the self-tanning products market
- Globally, revenue generated by the self-tanning products market stood at US$ 1.39 Bn in 2019, which is expected to expand at a CAGR of ~6% in terms of value throughout the forecast period
Increasing Awareness about UV Radiation across the Globe: Key Driver of Global Market
- Traditional methods of tanning include exposure of skin to UV radiation from the sun or from artificial sources such as tanning beds, lamps, etc. Ultraviolet rays emitted by the sun produce UV radiations. Ultraviolet rays are not visible through naked eyes due to their shorter wavelength; however, they cause various skin problems. UVB rays are the rays that burn the superficial layer of the skin. These usually cause darkening or redness of the skin. UVA are the rays that penetrate a bit deeper into the dermis, which is the thickest layer of skin and damages the skin that contains blood capillaries, nerve endings, sweat glands, and hair follicles. Suppression of the immune system, skin cancer, wrinkles, and aging are some of the conditions that happen due to skin exposure to direct sun.
- Various promotional activities and awareness campaigns undertaken by governments and manufacturing companies have resulted in increasing awareness among consumers. Hence, people are concerned about their skin health and looking for alternative options for a tan without damaging the skin. This is expected to generate demand for various types of self-tanning products during the forecast period. As more consumers during the forecast period are expected to be well educated and informed about skin health, demand for self-tanning products is likely to rise. Thus, the market for self-tanning products is expected to expand during the forecast period.
Growing Demand for Natural & Organic Products in Self-tanning Products Market
- Rise in demand for natural & organic self-tanning products globally offers lucrative opportunities for manufacturers in the self-tanning products market. Self-tanning services also offer great opportunities to spas to boost their bottom line, as this short service is easy to teach, with no formal education required; the cost of adding the service is low and the services offer higher profit margins.
- Manufacturers are likely to focus more on solutions containing high grade of eco-certified DHA (dihydroxyacetone) and additives that offer skin-conditioning qualities. Providing consumers with convenient and easy to use products is set to fuel the market growth. Trying to connect with consumers on various digital platforms and increasing the consumer base are expected to open doors for new business opportunities for the self-tanning products market during the forecast period.
Increasing Popularity of DHA-free Self-tanning Products: Key Trend of Market
- Consumers are looking for products, which are DHA-free and contain natural ingredients such as cocoa and fruit extracts. Consumers prefer natural products due to increasing health concerns and awareness about the ingredients used in self-tanning products. This trend is expected to surge during the forecast period. Consumers are also seeking products that spread well and are a pleasure to use. Demand for natural glow products is also high, as consumers do not want to look orange but desire more of a holiday tan.
- Along with natural products, consumers are looking for products with new textures, additional benefits such as moisturizing, anti-aging, SPF, etc., efficient delivery methods, instant removal, non-sticky textures, and quick-drying formulas besides being odorless. The trend of investing in skin care is increasing and expected to increase the demand for self-tanning products during the forecast period.
Self-tanning Products Market: Competition Landscape
- Detailed profiles of manufacturers of self-tanning products have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the self-tanning products market include -
- Avon Products, Inc.
- Beiersdorf AG
- Christian Dior SE
- St. Tropez Inc.
- Kao Corporation
- L'Oréal S.A.
- Shiseido Co., Ltd.
- Coola LLC
- Banana Boat
- Tantowel Inc.
Self-tanning Products Market: Key Developments
- Prominent manufacturers in the self-tanning products market are increasing investment in innovative products to fulfill the needs of end users. Manufacturers are also planning to expand their product range and presence in various geographies through mergers & acquisitions, and tie-ups with local self-tanning products providers.
- Some other key developments in the self-tanning products market are highlighted below:
- In July 2020, Beiersdorf and Werner & Mertz entered into cooperation with Fraunhofer IVV in which recycled waste plastic will be used for cosmetics packaging. This collaboration was in line with the company’s new sustainability agenda: Care Beyond Skin.
- In October 2019, Christian Dior SE opened its first standalone store in Mexico City. The company wishes to continue to strengthen its position as a brand in Mexico due to the potential in the luxury market and the sizable population. The company is trying to increase its presence in the international market. Dior in 2019 operated its business from 4,915 stores around the world.
Self-tanning Products Market – Scope of the Report
A new study on the global self-tanning products market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global self-tanning products market. TMR’s study offers valuable information about the global self-tanning products market to illustrate how the market would grow during the forecast period 2020 - 2030.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR) have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global self-tanning products market during the forecast period.
An extensive analysis on business strategies of leading market players has also been featured in TMR’s study on the global self-tanning products market. This can help readers understand principal factors to foresee growth in the global self-tanning products market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global self-tanning products market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Self-tanning Products Market Study
- What are the key factors influencing the self-tanning products market in each region?
- What will be the CAGR of the global self-tanning products market between 2018 and 2030?
- What is the future scope and changing trends in technologies in the global self-tanning products market?
- Which factors will impede the growth of the global self-tanning products market during the forecast period?
- Which are the leading companies in the global self-tanning products market?
Research Methodology – Self-tanning Products Market
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global self-tanning products market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global self-tanning products market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, products portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the self-tanning products market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from self-tanning products industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global self-tanning products and fittings market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global self-tanning products market more reliable and accurate.
Self-tanning Products Market – Segmentation
TMR’s study on the global self-tanning products market includes information categorized into six sections - product type, form, ingredient, gender, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the self-tanning products market are discussed in detail.