(MENAFN- PR Newswire) DUBLIN, Feb. 23, 2024 /PRNewswire/ -- The "Global Self Tanning Products Market: Analysis By Product Type, By Application, By Category, By End-User, By Distribution Channel, By Region Size and Trends with Impact of COVID-19 and Forecast to 2029" report has been added to
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The global self tanning products market was valued at US$1.26 billion in 2023. The market value is expected to reach US$1.79 billion by 2029.
The self-tanning market is poised for sustained growth due to continuous product innovation, expanding consumer awareness, and the increasing incorporation of self-tanning products into daily beauty routines. As consumers prioritize skincare and seek alternatives to traditional tanning methods, the self-tanning market is expected to thrive in the years to come.
Additionally, the market may witness further geographical expansion as manufacturers target emerging markets with untapped potential, contributing to the overall global growth of the self-tanning industry. The market is expected to grow at a CAGR of approx. 6% during the forecasted period of 2024-2029.
Market Segmentation Analysis:
By Product Type: The report provides the bifurcation of the market into three segments based on the product type: Lotions, Gels, and Others. In 2023, the lotion segment held the highest share in the market, whereas the gel segment is expected to be the fastest growing segment in the forecasted period. Self-tanning gels have gained traction among consumers seeking a lightweight and fast-drying alternative.
By Application: The report further provided the segmentation based on the application: Women and Men. The women's segment held the highest share in the market, whereas the men segment is expected to be the fastest growing segment in the forecasted period. The demand for self-tanning products among men has experienced a notable surge, reflecting evolving perceptions of grooming and skincare. Men are increasingly embracing self-tanning as a means to achieve a tan without prolonged sun exposure or artificial methods like tanning beds. As societal norms around male grooming continue to evolve, the self-tanning industry has responded by offering a diverse array of products tailored to meet the specific needs and preferences of male consumers.
By Category: The report provides the glimpse of the self tanning products market based on the following category: Conventional and Natural & Organic. Natural & organic segment is expected to be the fastest growing segment in the forecasted period. The increasing demand for natural and organic self-tanning products is driven by a growing consumer preference for cleaner, more environmentally friendly options. Consumers are becoming increasingly conscious of the ingredients they apply to their skin, and the desire for products with natural and organic formulations has extended to the self-tanning category.
By End-User: The report provides an analysis of the market based on end-users: Household and Commercial. Household segment held the highest share in the market in 2023. In recent years, achieving a sun-kissed glow from the comfort of one's home has become a popular choice among individuals who prioritize convenience and wish to avoid the potential harm associated with natural sun exposure or tanning beds. Additionally, the ability to integrate self-tanning into personal beauty routines without the need for salon appointments or professional assistance contributes to the growing demand among households.
By Distribution Channel: The report also provides a glimpse of self tanning products based on following distribution channel: Supermarkets & Hypermarkets, Convenience Store, Online, and Others. Supermarkets & hypermarkets held the highest share in the market, whereas online is expected to be the fastest growing segment in the forecasted period. The surge in demand for self-tanning products through online channels is evident in the shift toward e-commerce. Online platforms offer a vast selection of products, detailed product descriptions, customer reviews, and the convenience of doorstep delivery. Online channels also provide a platform for niche and specialty brands to reach a global audience, contributing to the diversification of the self-tanning market.
By Region: The report provides insight into the self tanning products market based on the regions namely Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.
Europe held the major share in the market, as Europeans are increasingly aware of the harmful effects of ultraviolet (UV) radiation from the sun, linked to premature aging and skin cancer. This has led to a shift away from traditional sunbathing towards safer alternatives like self-tanning products. The UK market is particularly influenced by the "weekend glow" trend, driven by the desire for a healthy, tanned look for social events and holidays. Additionally, the growing popularity of "athleisure" and active lifestyles has fueled the demand for sweat-resistant and long-lasting self-tanning products.
The Asia Pacific self-tanning market is poised for growth, with several key factors driving its anticipated growth. As economies in the region flourish, consumers have more disposable income to spend on personal care products like self-tanners. This is particularly evident among young adults and millennials, who are key drivers of beauty trends. On the other hand, while fair skin was traditionally prized in some Asian cultures, the beauty standard is evolving. A "healthy glow" is increasingly desirable, leading to growing interest in self-tanning products for a natural-looking tanned complexion.
Market Dynamics:
Growth Drivers: The global self tanning products market has been growing over the past few years, due to factors such as rising purchasing power, rising number of social media users, expanding e-commerce channel, rising prevalence of skin-related diseases, growing beauty and personal care market, widespread usage of skin rejuvenation techniques, seasonal and year-round demand, and many other factors. The widespread usage of skin rejuvenation techniques is playing a pivotal role in driving the growth of the self-tanning product market. Skin rejuvenation, encompassing various treatments and products designed to enhance skin texture, reduce signs of aging, and promote a youthful appearance, has become increasingly popular among consumers. As individuals invest in skincare routines to achieve and maintain healthier-looking skin, self-tanning products are positioned as complementary tools in the pursuit of a radiant and youthful complexion.
Challenges: However, the market growth would be negatively impacted by various challenges such as lack of awareness and information about product's application, rising safety concerns about self-tanning products, etc.
Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as product innovation and differentiation, inclusive shade ranges, rising popularity of organic, natural, and vegan-based products, self tanning products with added skin care benefits, advanced application technologies, increasing focus on men's self-tanning products, customization and personalization, etc. Product differentiation is expected to boost the self-tanning market by addressing the diverse preferences and needs of consumers.
As brands invest in unique formulations, application methods, and additional skincare benefits, they create a competitive edge that attracts a broader consumer base. Differentiated products not only meet specific user requirements but also contribute to a positive consumer experience, fostering brand loyalty and driving market growth in the forthcoming years. As consumers continue to seek tailored solutions and novel features, product innovation and differentiation will play a crucial role in sustaining and expanding the self-tanning market.
Competitive Landscape:
The global self tanning products market is fragmented, with a diverse range of products offered by numerous brands catering to different consumer preferences, skin types, and desired outcomes.
The key players in the global self tanning products market are:
L'Oreal Estee Lauder Companies Beiersdorf PZ Cussons Kenvue Clarins Group Bondi Sands Future Beauty Labs Luna Bronze Pradas Glow Australian Gold Fake Bake
Key Topics Covered:
1. Executive Summary
2. Introduction
2.1 Self Tanning Products: An Overview
2.2 Self Tanning Products Segmentation: An Overview
3. Global Market Analysis
3.1 Global Self Tanning Products Market: An Analysis
3.2 Global Self Tanning Products Market: Product Type Analysis
3.3 Global Self Tanning Products Market: Application Analysis
3.4 Global Self Tanning Products Market: Category Analysis
3.5 Global Self Tanning Products Market: End-User Analysis
3.6 Global Self Tanning Products Market: Distribution Channel Analysis
4. Regional Market Analysis
4.1 Europe Self Tanning Products Market: An Analysis
4.2 North America Self Tanning Products Market: An Analysis
4.3 Asia Pacific Self Tanning Products Market: An Analysis
4.4 Latin America Self Tanning Products Market: An Analysis
4.5 Middle East & Africa Self Tanning Products Market: An Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19 on Global Self Tanning Products Market
5.2 Post COVID-19 Impact on Global Self Tanning Products Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rising Purchasing Power
6.1.2 Rising Number of Social Media Users
6.1.3 Expanding E-commerce Channel
6.1.4 Growing Beauty and Personal Care Market
6.1.5 Widespread Usage of Skin Rejuvenation Techniques
6.1.6 Seasonal and Year-Round Demand
6.1.7 Rising Prevalence of Skin-related Diseases
6.2 Challenges
6.2.1 Lack of Awareness and Information about Product's Application
6.2.2 Rising Safety Concerns about Self-tanning Products
6.3 Market Trends
6.3.1 Product Innovation and Differentiation
6.3.2 Inclusive Shade Ranges
6.3.3 Rising Popularity of Organic, Natural, and Vegan-based Products
6.3.4 Self Tanning Products with Added Skin Care Benefits
6.3.5 Advanced Application Technologies
6.3.6 Increasing Focus on Men's Self-tanning Products
6.3.7 Customization and Personalization
7. Competitive Landscape
7.1 Global Self Tanning Product Market Players by Product Comparison
7.2 Global Self Tanning Product Market Players by Product Launches
8. Company Profiles
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