05.30.23
The global sunless tanners market is expected to reach $2.3 billion by 2030, according to a new report added to ResearchAndMarkets.com.
In the changed post-COVID-19 business landscape, the global market for sunless tanners estimated at $1.5 billion in 2022 is projected to reach a revised size of $2.3 billion by 2030, growing at a CAGR of 5.2% over the analysis period 2022-2030.
Lotions, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach $1.1 billion by 2030. Taking into account the ongoing post-pandemic recovery, growth in the gels segment is readjusted to a revised 6.1% CAGR for the next eight-year period.
The sunless tanners market in the US is estimated at $402.5 million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of $130.5 million by the year 2030, trailing a CAGR of 7.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 4.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5% CAGR. Led by countries such as Australia, India and South Korea, the market in Asia-Pacific is forecast to reach $123.4 million by 2030.
Select competitors in the report include Avon Products, Inc.; Beiersdorf AG; Christian Dior SE; Edgewell Personal Care LLC; Fake Bake; Johnson & Johnson Services, Inc.; Kao Corporation; L'Oreal S.A.; Shiseido Co., Ltd.; TanTowel; The Estee Lauder Companies, Inc.; and Unilever Plc.
Market trends and drivers included are advanced formulas and technologies; the popularity of mists; tanning water; a glimpse of select recently unveiled formulations; and more.
The report also provides influencer market insights, world market trajectories and the impact of Covid-19; and a looming global recession.
To access the full report go here.