Self-tanning Products Market Share, Size, Trend, Demand, Analysis by Top Leading Player and Forecast Till 2033
By the end of the year 2022, the global self-tanning products market crossed an overall valuation of US$ 1 billion. Further, during the forecast period of 2023 to 2033 the worldwide sales of self-tanning products are anticipated to expand at 5.9% CAGR. As per these estimates by FMI, the net worth of the global self-tanning products market value could reach US$ 2,026 million by 2033.
The self-tanning product reduces the risk of skin cancer caused by conventional tanning, which has a significant risk. FMI analyses the growth and investment opportunities for global self-tanning product manufacturers with a special focus on the United States region.
Economic progress in the nations of South America has increased spending on cosmetics which could have a positive impact on the United States market expansion. Tape Tan is a well-known organic skincare product producer in Brazil and has a large selection of self-tanners with natural intensifiers.
Key Takeaways from the Self-tanning Products Market Study Report
In terms of value, the United States is predicted to rule the global self-tanning products market throughout the projected period. The presence of some of the leading self-tanning solution producers is expected to retain its dominance through 2033.
Europe holds more than 35% market share, and it is anticipated to continue this dominance over the upcoming years as well. The growing trend of organic or natural ingredients in skin care products is projected to shift the regional market orientation.
In the upcoming years, it is projected that Asia Pacific countries could acquire a notable share of the global self-tanning products market. A high youth population with their increased propensity for beauty items is significantly contributing to the rising demand for self-tanning products.
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The Middle East and South Africa self-tanning products market is expected to develop due to a significant rise in tourists.
The online retail segment is the most reliable distribution channel for self-tanning products with a high rate of growth.
Competitive Landscape for the Self-tanning Products Market Players
Bondi Sands, L’Oréal, and St Tropez are some renowned brands that compete in the international market for self-tanning products. These market participants are concentrating on offering high-quality items to satisfy the demand for self-tanning from global consumers.
Development and marketing of specific self-tanning solutions based on regional demand would positively impact market growth. Moreover, they are concentrating on tactics like acquiring regional businesses and expenditures in research and development to expand the self-tanning products business.
Recent Developments by the Self-tanning Products Industries
It is projected that endorsement by celebrities might promote their product n in turn significantly accelerate market growth. To illustrate, St. Tropez partnered with American model and TV host Ashley Graham in April 2021 to introduce sunless tanning products.
Tess Holiday, the famous plus-size supermodel, teamed up with the celebrity spray self-tanner producer, "Island of Paradise" in July 2019. The company proclaimed this collaboration as an intent to meet consumer demand for skin-glow-enhancing products including sunless tanners.
BONDI Sands Pty Ltd. introduced an eco-friendly, true self-tanner with 100% sustainable packaging in January 2021. Bondi Sands Pure Gradual Tanning Lotion, Pure Self-tanning Sleep Mask, and Pure Self-tanning Drops are among the available products.
According to Health Club Management information, Clarins increased its outreach in Europe by opening new boutique retail locations in May 2021.
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