The global self-tanning products market size is expected to register a revenue of USD 2.18 Billion from 2019 to 2025, according to a new report by Million Insights. It is expected to grow with a 5.9% CAGR in the upcoming years. This market growth can be associated with increasing skin related issues like rashes and dry skin on its exposure to the sun.
Rising disposable income, rapid urbanization, and growing working population are anticipated to drive the market growth for these products. Moreover, regulating policies being implemented by government to restrict the usage of toxins and chemicals in manufacturing process is expected to fuel the market growth. Thus, the manufacturers of these products have started using natural or organic ingredients.
The lotion product segment held the largest market share of 55.4% during 2018. This can be associated to the emergence of glowing and healthy skin after the application of such lotions. The product segment of gel is anticipated to register a 6.7% CAGR during the forecasted years owing to features like non-greasy nature and quick skin absorption.
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The men application segment is anticipated to register 6.1% CAGR from 2019 to 2025 due to rising awareness for skincare among men across the globe. The women segment held the highest share in the global self-tanning products in 2018. Moreover, the rising trend of no-makeup face is gaining traction among women.
The supermarkets & hypermarkets segment held the largest share of around 60% in the global self tanning products market due to availability of wide variety of products coupled with the rising number of supermarkets across urban regions. The online segment of the distribution channel is expected to register the highest growth rate owing to features like doorstep delivery, hassle-free return policy and availability of a wide variety of products on a single platform.
Europe held the largest share across the global market in 2018. Emergence of fashion industry across this region is expected to drive the market demand. The Asia Pacific region is anticipated to register the highest growth with 7.2% CAGR from 2019 to 2025. This growth can be attributed to the rising population coupled with the skin-related issues arising due to harmful UV rays.
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Further key findings from the report suggest:
• In 2018, the women segment held the highest share in the global self tanning products market.
• The gel product segment is anticipated to register a CAGR of 6.7% from 2019 to 2025.
• Asia Pacific is anticipated to register the highest growth with a CAGR of 7.2% during the forecasted years, 2019 to 2025.
• The key players in the market are L’Oréal Group; Swallowfield; Unilever; Procter & Gamble; and Beiersdorf.
Million Insights has segmented the global self-tanning products market on the basis of product, application, distribution channel and region:
Self Tanning Products Product Outlook (Revenue, USD Million, 2015 – 2025)
Self Tanning Products Application Outlook (Revenue, USD Million, 2015 – 2025)
Self Tanning Products Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
• Supermarkets & Hypermarkets
• Convenience Stores
Self Tanning Products Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
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