Global Self-tan Products Market 2019-2023
About this market
The advent of natural and organic ingredients in self-tan products is expected to help the self-tan products grow. The demand for incorporating natural and organic ingredients in self-tan products is increasing, which are safe, have no harmful side effects, and be of higher quality than most synthetic products.
Technavio’s analysts have predicted that the Self-tan Products market will register a CAGR of more than 5% by 2023.
Availability of self-tan products with multiple benefits
The growing popularity of self-tan products, such as lotions, gels, sprays, creams, and mousse, with multiple functionalities is a driving factor in the global self-tan products. The demand for multifunctional products is higher in developed countries, particularly in the US, Germany, Canada, and the UK.
Increasing substitutes for commercially manufactured self-tan products
There are several effective home remedies that can be alternatives to commercially manufactured self-tan products. Mass consumers opt for a well-known home remedy rather than cosmetics and pharmaceuticals. Natural home remedies are cheaper, easy to find, and have fewer side effects.
For the detailed list of factors that will drive and challenge the growth of the self-tan products market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including L’Oréal Group and Procter & Gamble the competitive environment is quite intense. Factors such as the advent of natural and organic ingredients in self-tan products and availability of self-tan products with multiple benefits, will provide considerable growth opportunities to self-tan products manufactures. Estée Lauder Companies, Kao Corporation, L’Oréal Group, Procter & Gamble, and Unilever are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. The key competitors in the market are developing products with not only self-tanning features but also anti-aging and skin moisturizing and soothing properties. A lot of manufacturers are also opting for natural and organic products as they have little or no harmful effects and also helps the vendors capture greater market share’
Technavio Announces the Publication of its Research Report – Global Self-tan Products Market 2019-2023
Technavio recognizes the following companies as the key players in the global self-tan products market: Estée Lauder Companies, Kao Corporation, L’Oréal Group, Procter & Gamble, and Unilever.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the advent of natural and organic ingredients in self-tan products.”
According to the report, one of the major drivers for this market is the availability of self-tan products with multiple benefits.
Further, the report states that one of the major factors hindering the growth of this market is the increasing substitutes for commercially manufactured self-tan products.
Estée Lauder Companies
Procter & Gamble
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