Wilmington, Delaware, United States, March 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global industry is anticipated to expand at a CAGR of 6.4% between 2023 and 2031. Rising concerns about the negative effects of UV radiation, demand for skin rejuvenation and stylish tans, and acceptance of a busy lifestyle that calls for simple-to-use skin care solutions are projected to drive business growth. The global Self-Tanning Products Market stood at US$ 14.4 Bn in 2022 and it is projected to reach US$ 24.8 Bn by 2031.
The market value of self-tanning products is also increasing due to the expansion of cosmetics and personal care industries in various parts of the world. Growth of the e-commerce industry, the popularity of online retail outlets, and the increasing use of vegan, natural, and organic self-tanning products are likely to drive industry growth.
Major companies are launching advanced self-tanners at substantial prices to boost sales. With their online businesses, they also include virtual reality and augmented reality capabilities to take advantage of potential market growth prospects.
Dihydroxyacetone (DHA) is typically included in self-tanning products. On applying the cream, it reacts with the skin to mimic a suntan. Outdoor treatments to achieve a natural tan can be time-intensive, uncomfortable, and ephemeral. Consequently, self-tanning products are increasingly becoming popular all over the world.
The global market is expanding rapidly due to the rising popularity of these products among young people in Europe and North America. Companies in these regions are launching advanced self-tanning products to provide users with a more realistic tanning experience. Face, skin, and body tanners are some of the most popular self-tanning products in the market.
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Instant tanning is increasingly becoming popular, as key players in the cosmetic sector focus on including distinctive fragrances, specialty chemicals, and healthy components to enhance the convenience and comfort of skin tanning procedures for users. They are broadening their selection of self-tanning care products by including distinctive fragrances, specialist chemicals, and healthy components. Also, there is an increase in the use of tan removers across the globe.
Key Findings of Market Report
- Prolonged exposure to both UVB and UVA radiation has led to an increase in incidence of skin cancer all over the world. UVR causes DNA damage as well as genetic alterations that culminate in the development of skin cancer. Sun protection factor (SPF), which is a component of several self-tanning creams and shields the skin from UV sun rays, is also present. An increase in the use of self-tanning products is driving market development.
- Self-tanning products are less expensive and easier to use than salon or spa services. The self-tanning product's label has sufficient instructions for using it. The fastest option to get a tan that looks natural is to use a high-quality self-tanner. Self-tanners are easily absorbed by the skin and behave identically to common gels and lotions. Rising consumer demand for simple-to-use self-tanning products is expected to drive the global market from 2023 to 2031.
Global Self-Tanning Products Market: Regional Landscape
- The latest market report indicates that Asia Pacific is expected to lead the global market. Presence of leading market players is likely to expand the global Self-Tanning Products Market in the region. Significant increase in use of cosmetic and skin care products is expected to drive the market for self-tanning products in Asia Pacific.
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Global Self-Tanning Products Market: Growth Drivers
- The global Self-Tanning Products Market is projected to expand at a steady pace from 2023 to 2031 due to growing concerns about skin disorders and other health issues linked to sun exposure. Incidence of skin-related disorders is rising, which is also expected to fuel market development. Rise in skin cancer cases caused by extensive UVB and UVA exposure has had a substantial positive impact on the adoption of self-tanner.
- According to beauty & cosmetic literature, self-tanning solutions are used to cure acne scars as well as uneven skin tone. Additionally, these products provide a natural tan, lessen hyperpigmentation, and enhance skin quality by masking wrinkles and folds. Natural components that nourish the skin can be found in self-tanning products. Natural DHA, green tea, hyaluronic acid, vitamin C, vitamin E, CBD, peptides, watermelon extract, and flax and celery super seed extracts are among the beneficial ingredients of self-tanners. These ingredients have the power to moisturize, nourish, and renew the skin.
Global Self-Tanning Products Market: Key Players
Some of the key market players in the global Self-Tanning Products Market
- Beauty by Earth
- St. Tropez
- Charlotte Tilbury
- Lancome
- Coco & Eve
- Artesian Tan
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Global Self-Tanning Products Market: Segmentation
Type
- Body Tanner
- Face Tanner
Form
- Lotion
- Spray
- Gel
- Cream
- Oil
Skin Tone
- Light
- Very Light
- Medium
- Deep
- Very Deep
Skin Type
- Dry
- Combination
- Oily
- Normal
- Sensitive
Ingredient
- Organic
- Inorganic
Price
- Low
- Medium
- High
Consumer Group
- Male
- Female
- Unisex
End-user
- Personal
- Commercial
Distribution Channel
- Online
- Offline
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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