Getting the natural tan from outdoor treatments can be time-consuming, discomforting, and temporary. People from different cultures seeking solutions on tanning their skin are growing inclined towards products that facilitate skin tanning indoors. The demand for self tanning products continues to gain traction as cosmetic companies strive to make the skin tanning process more comfortable and convenient for the consumers. By using distinct odors, specialized chemicals, and healthy ingredients, cosmetics companies are enhancing their range of self tanning products.
According to Transparency Market Research’s recently published report, the global demand for self tanning products is poised to expand steadily at a CAGR of 5.3%. The report further projects that by the end of 2026, nearly US$ 5.5 Bn worth of self tanning products will be sold globally. The study has assessed a range of factors influencing the growth of the global self tanning products market. Among which, the growing importance of tanning in controlling the global incidence rate for non-melanoma skin cancer is expected to bolster the demand for self tanning products in the foreseeable future. The study also projects that proactive lifestyles of consumers will bar them from outdoor tanning, which will translate into higher demand for self tanning products during the forecast period.
Creams and Lotions to Remain in Great Demand
The report estimates that majority of products being sold in the global self tanning products market will be in the form of creams and lotions. Easy applicability of self-tanning creams and lotions will fuel their global sales, and consumers were continue to be predominantly inclined towards them through 2026. By the end of the forecast period, creams and lotions being sold in the global self tanning products market will bring in an estimated US$ 3.7 Bn revenues.
The report further reveals that female end-users of self tanning products will be relatively high than their male counterparts. Over the forecast period, more than three-fourth of self tanning products being sold globally will be used by women. The demand for self tanning products among male will lose traction towards the end of 2026.
Modern Trade Outlets to Register Highest Sales
In 2017 and beyond, majority of self tanning products sales will remain concentrated in the modern trade segment. The modern trade outlets will account for more 40% of sales recorded in the global self tanning products market throughout the forecast period. Online sales of self tanning products, on the other hand, are expected to register fastest revenue growth at a CAGR of 7.3%.
The report further reveals that majority of self tanning products will be sourced from conventional methods. This will entail the presence of synthetic ingredients in the production and formulation of self tanning products. By the end of 2026, more than two-third of self tanning products being produced in the global market will be sourced from conventional methods. The report also projects that Europe will remain the largest market for self tanning products in the world. Through 2026, the self tanning products market in Europe is poised to expand robustly at a CAGR of 6.2%.
Companies at the forefront of global production of self tanning products have been profiled in the report. These include, L'Oréal S.A., Beiersdorf Aktiengesellschaft, Johnson & Johnson Services, Inc., Avon Products, Inc., Kao Corporation, Shiseido Co.,Ltd., The Procter & Gamble Company, The Estee Lauder Companies Inc., Unilever PLC, and Christian Dior SE. A majority of these companies will continue to focus on extending the product lines in the luxury segment.