Transparency Market Research delivers key insights on the global premium self-tanning products market. In terms of revenue, the global premium self-tanning products market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global premium self-tanning products market report.
In this market report, TMR predicts that the exponential growth in the spending power of the middle class population across developing countries, popularly trending as Premiumization, is anticipated to have an affirmative impact on the premium self-tanning products market. Consumers in developing economies such as India, Brazil, and China are becoming more attracted to luxury brands and are willing to pay extra for the superior quality products.
Premiumization of self-tanning products, in term of efficacy and environment friendliness, is anticipated to be a key factor in the upcoming years. Sustainability and awareness regarding the environment is anticipated to have noteworthy influence on the decisions regarding type of materials and active ingredients used to make both the product as well as packaging. The ability of market participants to efficiently meet the expectations of their eco-friendly consumers is likely to drive the premium self-tanning products market in the forthcoming years.
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In terms of type, the premium self-tanning products market has been segmented into facial self-tanners and body self-tanners. During the forecast period, the market is anticipated to be dominated by the body self-tanning products segment. In the report, based on form, the premium self-tanning products market has been segmented into gel, lotion, spray, oil, cream, and others.
Based on ingredient, the premium self-tanning products market has been bifurcated into natural and organic. The organic segment is anticipated to expand at a significant growth rate during the forecast timeline.
In terms of gender, the premium self-tanning products market has been categorized into male, female, and unisex. The male segment is anticipated to expand at a higher pace. In terms of distribution channel, the premium self-tanning products market has been divided into online and offline. During the forecast period, the online distribution channel of the premium self-tanning products market is anticipated to expand quickly. Asia Pacific has seen a surge in the adoption of e-Commerce among consumers, which, in turn, has increased online retail sales of premium self-tanning products.
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Premium Self-tanning Products Market: Prominent Regions
Geographically, Europe led the premium self-tanning products market in 2019 and the region is expected to retain its dominance during the forecast period. The U.K. and France are considered the major markets for premium self-tanning products in Europe. In addition, North America and APAC are also projected to offer promising growth opportunity for the premium self-tanning products market. Apart from Asia Pacific, South American provinces also significantly contribute to the overall growth of the global premium self-tanning products market.
Premium Self-tanning Products Market: Key Players
The premium self-tanning products market is highly fragmented with leading players accounting for nearly 35% of the revenue share. Key players operating in the global premium self-tanning products market include Luna Bronze, REBLX, TAN-LUXE, Josie Maran Cosmetics, PZ Cussons Beauty LLP, Tan Towel International Pty Ltd, James Read, Inc., Islestarr Holdings Limited, Dr. Dennis Gross Skincare LLC, and Lancome.
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