Dublin, June 21, 2022 (GLOBE NEWSWIRE) -- The "Sunless Tanners - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The 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.

Amid the COVID-19 crisis, the global market for Sunless Tanners estimated at US$1.4 Billion in the year 2020, 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 Sunless Tanners market in the U.S. is estimated at US$386.1 Million in the year 2021. The country currently accounts for a 26.74% share in the global market. China 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 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.

Global sales of sunless tanners through Supermarkets & Hypermarkets segment is estimated at US$798.2 Million in 2020, 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 in 2020. 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.

Select Competitors (Total 68 Featured) -

Key Topics Covered:

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE


For more information about this report visit https://www.researchandmarkets.com/r/g6j0e1

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