The Asia Pacific self- tanning products market is expected to grow from US$ 137.80 million in 2022 to US$ 183.72 million by 2028. It is estimated to grow at a CAGR of 4.9% from 2022 to 2028.
Strategic Development Initiatives by Key Market Players Bolster the Asia Pacific Self- Tanning Products Market
The self-tanning market is significantly growing with an upward trend. Manufacturers are making significant investments in research & development, partnerships, and collaborations to launch innovative products to attract a large consumer base. For instance, in August 2021, Cosmopolitan launched a self-tanning line. The collection is cruelty-free, vegan, and nut-free. Cosmopolitan teamed up with tanning company Devoted Creations to launch CosmoSun, a line of tanning products and other sun-care items. The five-item line includes Sunless Mousse, Instant Body Bronzer, Sun Lotion with Shimmer, Overnight Sunless Lotion, and Liquid Sunshine tanning water.
Technological innovations by manufacturers are further driving the market growth. For instance, Micro-technology involves the use of computer technology for the atomization of fluids to very fine particle sizes. "It helps to create a more flawless spray and requires less solution to cover an entire body," says Infinity Sun's Veronique Munro. Similarly, Rapid or One-Hour Tanning Formulas technology is also gaining popularity among consumers. This technology allows the client to shower within one to three hours of application versus the traditional eight hours with increasing the level of the active ingredient. Such product launches and technological developments are driving the Asia Pacific self-tanning products market.
Further, expenses made on advertising and promotional activities by leading market players are expected to influence market growth positively. As per the published data by L'Oréal S.A. 2020 annual report, the advertising and promotion spending in 2019 was US$ 10,311.09 million, rising from US$ 9,604.60 million (2018). Thus, strategic development initiatives such as advertising expenditure, technological development initiatives, and product launch strategic initiatives are expected to drive the demand for self-tanning products and further propel the Asia Pacific self-tanning products market growth over the forecast period.
Asia Pacific Self- Tanning Products Market Overview
The Asia Pacific self-tanning products market is sub segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. People from emerging countries in the region are becoming more aware of skincare with exposure to digital and social media. Manufacturers of sunless tanners have not fully tapped into the Asian market yet, as consumers from this region are more interested in skin whitening or complexion correction products. Despite this, some established international self-tanner brands and a few international salon channels are targeting young consumers in this region, following the influence of a western lifestyle on this demographic group.
Asia Pacific Self-Tanning Products Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Self- Tanning Products Market Segmentation
The Asia Pacific self- tanning products market is segmented into product type, category, distribution channel, and country.
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 largest share of the Asia Pacific self- tanning products market in 2022.
Based on category, the Asia Pacific self- tanning products market is segmented into natural and organic, conventional. The conventional segment held a larger share of the Asia Pacific self- tanning products market in 2022.
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 a largest share of the Asia Pacific self- tanning products market in 2022.
Based on country, the Asia Pacific self- tanning products market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. The Rest of Asia Pacific dominated the share of the Asia Pacific self- tanning products market in 2022.
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 are the leading companies operating in the Asia Pacific self- tanning products market.