Valued to be $1.9 Billionby 2026, Sunless Tanners Slated for Robust Growth Worldwide

SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Sunless Tanners - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 17; Released: February 2022
Executive Pool: 9302
Companies: 68 - Players covered include Avon Products, Inc.; Beiersdorf AG; Christian Dior SE; Edgewell Personal Care LLC; Fake Bake; Johnson & Johnson Services, Inc.; Kao Corporation; L'Oréal S.A.; Shiseido Co., Ltd.; TanTowel; The Estee Lauder Companies, Inc.; Unilever Plc and Others.
Coverage: All major geographies and key segments
Segments: Type (Lotions, Gels, Other Types); Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Latin America; Brazil; Rest of Latin America; Rest of World.

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ABSTRACT-

Global Sunless Tanners Market to Reach $1.8 Billion by 2026
Sunless tanning market is poised for growth in the wake of proliferation of natural-looking products, rise in number of service providers, and widespread acceptance of the concept. People prefer sunless tanning as it aids in achieving healthier appearance of sun-kissed skin throughout the year. In majority of people, overall skin health remains average to below average due to negative effect of prolonged overexposure to the sun and tanning beds. For such people, sunless tanning offers a simple means to achieve the same all-over glow in a highly convenient manner. Sunless tanning market is poised for growth in the wake of proliferation of natural-looking products, rise in number of service providers, and widespread acceptance of the concept. Latest range of sunless tanning formulas come with numerous enticing benefits, including unique, non-sticky textures and delivery methods; organic and natural ingredients; quicker release, as residual color rinses out in less than three hours; fast drying formulas; no smell; even fades; and minimal transfer of formulation to clothing.

Amid the COVID-19 crisis, the global market for Sunless Tanners estimated at US$1.5 Billion in the year 2022, is projected to reach a revised size of US$1.8 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Lotions, one of the segments analyzed in the report, is projected to grow at a 4.5% CAGR to reach US$927.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Gels segment is readjusted to a revised 5.7% CAGR for the next 7-year period. This segment currently accounts for a 28.6% share of the global Sunless Tanners market.

The U.S. Market is Estimated at $402.5 Million in 2022, While China is Forecast to Reach $96.8 Million by 2026
The Sunless Tanners market in the U.S. is estimated at US$402.5 Million in the year 2022. The country currently accounts for a 26.74% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$96.8 Million in the year 2026 trailing a CAGR of 7.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR while Rest of European market (as defined in the study) will reach US$104.2 Million by the close of the analysis period.

A noteworthy trend in these markets is the emergence of self-tanning products as one of the popular self-care trends during the COVID-19 pandemic lockdown. In sharp contrast to the beauty industry that struggled with drop in consumer spending, sunless tanners witnessed high uptake and posted impressive revenue gains across countries such as the UK. Factors like stay-at-home mandates prompted a large number of people to dedicate their time to various self-care activities including beauty. While spending on self-tanning products grew, the average expenditure on haircut, nail or eyebrow grooming, spas, hair removal and massages dwindled. While the time dedicated to makeup, styling and haircuts declined, consumer spend on high-end bathing products increased decently, marking a major trend in the beauty-linked self-care activity.

Sales Through Supermarkets & Hypermarkets to Reach $1 billion by 2026
Global sales of sunless tanners through Supermarkets & Hypermarkets segment is estimated at US$856.9 Million in 2022, and is projected to reach US$1 Billion by 2026 reflecting a compounded annual growth rate of 4.2% over the analysis period. Europe constitutes the largest regional market for Supermarkets & Hypermarkets segment, accounting for 40.7% of the global sales. China is poised to register the fastest compounded annual growth rate of 6.8% over the analysis period, to reach US$61.7 Million by 2026. More

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SOURCE Global Industry Analysts, Inc.