May 26, 2020 6:00 PM ET
iCrowd Newswire – May 26, 2020
The Global Self-Tanners Market was valued at around USD 1.5 billion in 2019 and is expected to reach nearly USD 5.5 billion by 2026, expanding at a CAGR of over 5% during the forecast period, 2020 – 2026. Getting a natural tan can be tedious, uncomfortable, and temporary. Consumers are looking for tanning their skin are becoming inclined toward indoor skin tanning items since it is comfortable and convenient. The advent of organic ingredients, proactive lifestyles, and increasing rate of skin cancer are boosting the demand for self-tanning products during the forecast period.
Self-tanning products can be purchased over the counter. The active ingredient in these items is dihydroxyacetone (DHA), a shading additive frequently derived from plant sources that is endorsed by the FDA for tanning purposes. DHA ties to proteins in the top layer of skin, making it dark or stain. The shading procedure happens just in the surface layers of the skin in this manner it remain on your body for five to seven days. After they bog off, it needs a reapplication.
Market Trends, Drivers, Restraints, and Opportunities:
High demand for skin care and self-tan products, advent of organic ingredients, rising popularity of various luxury self-tanning products and growing awareness about UV light exposed skin cancer are some of the key trends driving the growth of the self- tanners market.
Increase in disposable income is expected to increase the demand for self- tanner products among consumers. This, in turn, is driving the growth for the market.
Fear of chemicals among people and insufficient research on DHA decrease the growth of the market, in terms of volume and value.
Lack of awareness about self- tan products among consumers due to the lack of advertisement is a key restraint of the market.
The growth of e-commerce industry worldwide and product innovations are creating opportunities is estimated to fuel the growth of the market during the forecast period.
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Market Segment Insights:
Based on product types, the global Self Tanners market is divided into creams, lotions, cleansers, foams, essential oils, sprays, and gels. The lotion segment constituted a dominant share of the market in 2019 and constituted market share of around 56% in 2019. Lotions are easy to apply and absorbed in the skin rapidly, which drives consumer interest. Net sales of self-tanning lotions is expected to surpass USD 3.7 billion by the end of the forecast period. The gel segment is projected to expand at a CAGR of 7% from 2020 to 2026. The demand for gels is rising due to high requirement for self-tanning gels among people with sensitive, and oily skin, as these are light in weight.
In terms of distribution channels, the market is fragmented into supermarkets, hypermarkets, drug stores, departmental stores, online retail stores, and convenience stores. The Supermarkets and hypermarkets segments accounted for a large share of the market in 2019. Buyers prefer purchasing products from supermarkets and hypermarkets, as they offer various types and brands under one roof and provide at discounts. The online segment is anticipated to expand at a CAGR of 7.3% from 2020 to 2026, as these websites offer virtue of easy item selection and doorstep delivery services. Increasing number of smartphone users and web clients, particularly in emerging regions such as Asia Pacific, is expected to drive segment growth.
Key industry members include Estée Lauder Companies; Kao Corp., L’Oréal Group, Procter & Gamble, Unilever, Beiersdorf, Johnson & Johnson, Avon Products Inc., Shiseido Co. Ltd., and Swallowfield. These companies are using various strategies such as mergers & acquisitions and product launches to expand their market reach.
In June 2018, Unilever acquired 75% of share in Equilibra, an Italian personal care business. In November 2018, Givaudan Active Beauty launched Vegetan Evolved self tanner formulations.
Segments Covered in This Report:
By Product Type:
- Essential Oils
By Distribution Channel:
- Drug Stores
- Departmental Stores
- Online Retail Stores
- Convenience Stores
By End – User:
- Asia Pacific
- North America
- Middle East & Africa
- Latin America
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Table of Content:
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Self-Tanners Market Overview
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Self-Tanners Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.4. Market Trends
4.4. Self-Tanners Market – Supply Chain
4.5. Global Self-Tanners Market Forecast
4.5.1. Self-Tanners Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Self-Tanners Market Size (000? Units) and Y-o-Y Growth
4.5.3. Self-Tanners Market Absolute $ Opportunity
- Global Self-Tanners Market Analysis and Forecast by Type
5.1. Market Trends
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Self-Tanners Market Size and Volume Forecast by Type
5.3.1. Creams and Lotion
5.3.3. Essential Oils
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
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Keywords: Self-Tanners Market, Self-Tanners Market Share, Self-Tanners Market Size