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Thursday, December 08, 2022

Valued at $1.9 billion by 2026, sunless tanners slated for strong growth worldwide

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the version: 17; Issued: February 2022
Working Pool: 9302
Companies: 68 – Players covered include Avon Products, Inc.; Beersdorf AG; Christian Dior SE; Edgewell Personal Care LLC; fake bake; Johnson & Johnson Services, Inc.; Cao Corporation; L’Oreal SA; Shiseido Co., Ltd.; tan towel; Estee Lauder Companies, Inc.; Unilever PLC and others.
Coverage: All major geographies and major segments
Section: types (lotions, gels, other types); Distribution channels (supermarkets and hypermarkets, convenience stores, online)
Geographic: World; America, Canada, Japan, China, Europe, France, Germany, Italy, UK; Spain, Russia, the rest of Europe, Asia Pacific, Latin America, Brazil, the rest of Latin America, rest of the world.

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Summary-

To reach the Global Sunless Tanners Market $1.8 billion by 2026
Sunless tanning market is poised for growth in view of proliferation of natural looking products, increase in number of service providers and wide acceptance of the concept. People prefer sunless tanning as it helps in achieving the healthy appearance of sun-kissed skin throughout the year. In most people, overall skin health remains below average due to prolonged exposure to the sun and the negative effects of tanning beds. For such people, sunless tanning offers a simple means of achieving even radiance in a highly convenient way. Sunless tanning market is poised for growth in view of proliferation of natural looking products, increase in number of service providers and wide acceptance of the concept. The latest range of sunless tanning formulas come with a host of attractive benefits including unique, non-sticky texture and delivery methods; organic and natural ingredients; Quick release, as residual paint washes out in less than three hours; fast drying formula; no smell; even faded; and minimal transfer of the formulation to clothing.

Amid the COVID-19 crisis, the global market for sunless tanners is predictable US$1.5 billion In the year 2022, it is estimated to reach the revised size of US$1.8 billion To 2026, growing at a CAGR of 4.8% over the analysis period. Lotion, one of the segments analyzed in the report, is estimated to grow at 4.5% CAGR US$927.4 million by the end of the analysis period. After an in-depth analysis of the business impacts of the pandemic and its induced economic crisis, the growth in the Gel segment has been adjusted at a revised 5.7% CAGR for the next 7 year period. This segment currently accounts for 28.6% of the global sunless tanners market.

US market forecast $402.5 million in 2022, while China is estimated to reach $96.8 million by 2026
The sunless tanners market in the US is estimated at: US$402.5 million in the year 2022. Presently the country’s share in the global market is 26.74%. ChinaWorld’s second largest economy, estimated market size to reach US$96.8 million Trailing a CAGR of 7.2% through the analysis period in the year 2026. Other notable geographic markets are Japan And Canada, each forecast is projected to grow at a rate of 3.8% and 4%, respectively, during the analysis period. Inside Europe, Germany Estimated to grow at a CAGR of around 4.6% while the rest will reach the European market (as defined in the study) US$104.2 million by the end of the analysis period.

A notable trend in these markets is the rise of self-tanning products as one of the popular self-care trends during the COVID-19 pandemic lockdown. Just in contrast to the beauty industry, which was struggling with declining consumer spending, sunless tanners saw a high uptick and posted impressive revenue gains in countries such as the UK. Factors such as the stay-at-home mandate prompted a large number of people to devote their time to various self-care activities, including beauty. Average spending on haircuts, nail or eyebrow grooming, spas, hair removal and massages decreased as spending on self-tanning products increased. While time devoted to makeup, styling and haircuts declined, consumer spending on high-end bath products grew decently, marking a major trend in self-care activity involving beauty.

Sales through supermarkets and hypermarkets for access $1 billion by 2026
Estimated global sales of sunless tanners through the supermarket and hypermarket segment US$856.9 million in 2022, and is projected to reach US$1 billion The analysis shows a compound annual growth rate of 4.2% over the period until 2026. Europe The supermarket and hypermarket is the largest regional market for the segment, accounting for 40.7% of global sales. China Is set to register the fastest compound annual growth rate of 6.8% in the analysis period, to reach US$61.7 million until 2026. More

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Valued At $1.9 Billion By 2026, Sunless Tanners Slated For Strong Growth Worldwide

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