Report : Asia Pacific Self- Tanning Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type (Creams and Lotion, Serum, Mist, and Others), Category (Natural and Organic Conventional), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)
At 4.9% CAGR, the Asia Pacific Self-Tanning Products Market is speculated to be worth US$ 183.72 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific self-tanning products market was valued at US$ 137.80 million in 2022 and is expected to reach US$ 183.72 million by 2028, registering a CAGR of 4.9% from 2022 to 2028. Growth of cosmetic industry across the region are the critical factors attributed to the Asia Pacific self-tanning products market expansion.
In the recent times, health and skin care awareness has increased significantly across the region. The increase in developments in sustainable cosmetics, advertising strategies, and innovative product branding are the major factors responsible for establishing the cosmetic industry. Also, the rise in health concerns about skin diseases and other health risks associated with environmental and sun exposure increases the demand for cosmetic product offerings. Women are increasingly adding grooming products into their daily routines. The cosmetics market in Asia Pacific the cosmetic industry is significantly growing. With rising number of product launches in the market, consumers can choose from multiple brands available in the market. According to the 2019 survey on social media, Huda Beauty had the highest user engagement, with 246.37 million actions. Ranked second was Kylie Cosmetics which accounted for 215.24 million cross-platform actions. Based on retail sales, chain beauty store Ulta Salon, Cosmetics & Fragrance was one of the leading health and beauty retailers. People are spending extensively on personal care and cosmetic products as they are conscious about their appearance in social settings. For instance, as per the data published in L'Oréal 2020 annual report, the beauty markets were witnessing the growth rate by 8% in 2019. Thus, the rising expenditure on beauty products aids in the growth of the cosmetic industry. Self-tanning products are becoming increasingly popular as people are fond of bronze and tanned skin tones. Also, these products are convenient to use as they impart desired skin tone without sun exposure and sun damage. The Centers for Disease Control and Prevention (CDC) promoted the use of self-tan products by considering them a safer alternative to UV-induced tanning. Thus, consumers are increasingly using self-tanning products. Thus, the growth of cosmetics industry across the region and the increased use of self-tanners are significantly driving the Asia Pacific self-tanning products market.
On the contrary, side effects associated with synthetic ingredients in self-tanning products hampers the Asia Pacific self-tanning products market.
Based on product type, the Asia Pacific self- tanning products market is segmented into creams and lotion, serum, mist, and others. The others segment held 45.5% share of Asia Pacific self-tanning products market in 2022, amassing US$ 62.66 million. It is projected to garner US$ 83.59 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on category, the Asia Pacific self- tanning products market is segmented into natural and organic, conventional. The conventional segment held 68.3% share of Asia Pacific self-tanning products market in 2022, amassing US$ 94.15 million. It is projected to garner US$ 122.61 million by 2028 to expand at 4.5% CAGR during 2022–2028.
Based on distribution channel, the Asia Pacific self- tanning products market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The others segment held 34.6% share of Asia Pacific self-tanning products market in 2022, amassing US$ 47.70 million. It is projected to garner US$ 61.23 million by 2028 to expand at 4.2% CAGR during 2022–2028.
Based on country, the Asia Pacific self-tanning products market has been categorized into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 37.2% share of Asia Pacific self-tanning products market in 2022. It was assessed at US$ 51.19 million in 2022 and is likely to hit US$ 68.21 million by 2028, exhibiting a CAGR of 4.9% during the forecast period.
Key players dominating the Asia Pacific self-tanning products market are Bondi Sands Pty Ltd; Coty Inc; Edgewell Personal Care Co; Johnson & Johnson; KAO Corp; L'Oreal SA; PZ Cussons Plc; and Supernova UK Pty Ltd, among others.
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