Report : Europe 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 & Organic and Conventional), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)
At 5.7% CAGR, the Europe Self-Tanning Products Market is speculated to be worth US$ 678.04 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe self-tanning products market was valued at US$ 487.20 million in 2022 and is expected to reach US$ 678.04 million by 2028, registering a CAGR of 5.7% from 2022 to 2028. Growth of cosmetic industry across the region are the critical factors attributed to the Europe 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 Europe is well established, 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. 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 global beauty markets were witnessing the growth rate by 8% in 2019. Thus, the rising expenditure on beauty products aids in the growth of the global 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 Europe self-tanning products market.
On the contrary, side effects associated with synthetic ingredients in self-tanning products hampers the Europe self-tanning products market.
Based on product type, the Europe self- tanning products market is segmented into creams and lotion, serum, mist, and others. The others segment held 40.1% share of Europe self-tanning products market in 2022, amassing US$ 195.40 million. It is projected to garner US$ 272.17 million by 2028 to expand at 5.7% CAGR during 2022–2028.
Based on category, the Europe self- tanning products market is segmented into natural & organic and conventional. The conventional segment held 68.8% share of Europe self-tanning products market in 2022, amassing US$ 335.38 million. It is projected to garner US$ 457.27 million by 2028 to expand at 5.3% CAGR during 2022–2028.
Based on distribution channel, the Europe self- tanning products market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The others segment held 31.4% share of Europe self-tanning products market in 2022, amassing US$ 153.03 million. It is projected to garner US$ 203.82 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on country, the Europe self-tanning products market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 33.3% share of Europe self-tanning products market in 2022. It was assessed at US$ 162.24 million in 2022 and is likely to hit US$ 216.63 million by 2028, exhibiting a CAGR of 4.9% during the forecast period.
Key players dominating the Europe self-tanning products market are Coty Inc; Edgewell Personal Care Co; HotHouse Beauty Ltd; Johnson & Johnson; KAO Corp; L'Oreal SA; PZ Cussons Plc; and Supernova UK Pty Ltd, among others.
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