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
Increasing Popularity of DHA-free Self-tanning Products: Key Trend of Market
Increasing Awareness about UV Radiation across the Globe: Key Driver of Global Market
Growing Demand for Natural & Organic Products in Self-tanning Products Market
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About the AuthorDinesh
Joined: March 15th, 2021
Articles Posted: 134
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