Self-tanning Products Market Industry With Future Estimations 2020-2030

Posted by Dinesh on April 14th, 2021

Demand for Safe, Healthy, and Natural Self-tanning Products on Rise

The self-tanning products market has witnessed a steady growth in the past decade. Although the global sales of self-tanning products were sluggish in the initial phases due to uncertainty among consumers regarding ingredients, safety, and negative effects of using self-tanning products. The demand for self-tanning products has witnessed consistent growth in the past few years, owing to a range of factors. One of the major factors expected to drive the sales of self-tanning products is the growing evidence and mounting concerns pertaining to the harmful effects of sun tanning on the skin.

The wellness industry is gradually adapting to evolving consumer choices and increasingly turning to natural ingredients to develop self-tanning products. At present, market players are expected to focus on the production of products that offer a natural tan to increase their brand credibility and value. In addition, several leading players in the global self-tanning products market are likely to expand their product portfolio to increase their presence in the market. While regulatory bodies around the world have laid down a solid framework pertaining to the production and marketing of self-tanning products, brands are expected to work toward gaining approval for their products.

At the back of these factors, along with the evolving consumer and regulatory landscape, the global self-tanning products market is expected to cross US$ 2.3 Bn mark by the end of 2030.

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Consumers Leaning Toward UV-free Tan Alternatives amid Reports of Skin Cancer

Over the past few years, consumer trends indicate a tectonic shift away from natural tanning, especially in regions wherein ozone depletion is a major concern. Consumer awareness pertaining to the harmful effects of the sun in certain regions and the growing number of skin cancer cases in regions with high ozone depletion, including Australia, are some of the key factors that have generated considerable interest in self-tanning products. Consumer trends in multiple regions suggest a growing demand for UV-free tan products– a factor that is expected to contribute to the growth of the self-tanning products market in the upcoming years. The growing desire to attain a fashionable and glowing tan, especially in young adults is a major trend that is anticipated to provide boost to the sales of self-tanning products during the assessment period.

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Market Players Focus on Expanding Product Range to Gain Advantage

Due to increasing awareness and scientific evidence pertaining to the ill-effects of UV radiation, the demand for self-tanning products has consistently moved in the upward trajectory. Sensing the growing interest in self-tanning products, market players are increasingly investing resources on research & development and diversifying their product portfolio.

Launch of new products, changes in the product development process, and use of natural and green ingredients are trends within the self-tanning products market.

Demand for Self-tanning Products to Decline during COVID-19 Pandemic

The COVID-19 pandemic is expected to have a strong impact on the growth of the self-tanning products market especially in 2020. Self-tanning products are not classified as essential products by governments in several nations due to which, the production as well as its demand have taken a major hit. Services in the tanning salon industry are expected to witness a massive setback due to the ongoing COVID-19 pandemic and declining demand. However, as governments are expected to increase spending and gradually allow businesses to reopen post a brief period of lockdown, the market is expected to show signs of improvement in the upcoming months.

Self-tanning Products Market: Overview

• According to the latest market report published by Transparency Market Research on the self-tanning products market for the period 2020-2030 (wherein 2020 to 2030 is the forecast period and 2019 is the base year), expansion of the industrial sector across the globe is expected to drive the self-tanning products market
• Globally, revenue generated by the self-tanning products market stood at US$ 1.39 Bn in 2019, which is expected to expand at a CAGR of ~6% in terms of value throughout the forecast period

Increasing Popularity of DHA-free Self-tanning Products: Key Trend of Market

• Consumers are looking for products, which are DHA-free and contain natural ingredients such as cocoa and fruit extracts. Consumers prefer natural products due to increasing health concerns and awareness about the ingredients used in self-tanning products. This trend is expected to surge during the forecast period. Consumers are also seeking products that spread well and are a pleasure to use. Demand for natural glow products is also high, as consumers do not want to look orange but desire more of a holiday tan.

Increasing Awareness about UV Radiation across the Globe: Key Driver of Global Market

• Traditional methods of tanning include exposure of skin to UV radiation from the sun or from artificial sources such as tanning beds, lamps, etc. Ultraviolet rays emitted by the sun produce UV radiations. Ultraviolet rays are not visible through naked eyes due to their shorter wavelength; however, they cause various skin problems. UVB rays are the rays that burn the superficial layer of the skin. These usually cause darkening or redness of the skin. UVA are the rays that penetrate a bit deeper into the dermis, which is the thickest layer of skin and damages the skin that contains blood capillaries, nerve endings, sweat glands, and hair follicles. Suppression of the immune system, skin cancer, wrinkles, and aging are some of the conditions that happen due to skin exposure to direct sun.

Growing Demand for Natural & Organic Products in Self-tanning Products Market

• Rise in demand for natural & organic self-tanning products globally offers lucrative opportunities for manufacturers in the self-tanning products market. Self-tanning services also offer great opportunities to spas to boost their bottom line, as this short service is easy to teach, with no formal education required; the cost of adding the service is low and the services offer higher profit margins.
• Manufacturers are likely to focus more on solutions containing high grade of eco-certified DHA (dihydroxyacetone) and additives that offer skin-conditioning qualities. Providing consumers with convenient and easy to use products is set to fuel the market growth. Trying to connect with consumers on various digital platforms and increasing the consumer base are expected to open doors for new business opportunities for the self-tanning products market during the forecast period.