Self-Tanning Products Market To Reach Around US$ 2.5 Bn by 2027
Rising pandemic effect and rapid advancements in ventilator systems are major factors expected to drive the growth of global self-tanning products market
LOS ANGELES, Jan. 15, 2021 (GLOBE NEWSWIRE) -- The global *self-tanning products* *market* is anticipated to grow at a CAGR of around 6.3% during the forecast period 2020 to 2027 and to reach around US$ 2.5 Bn by 2027.The market in North America is expected to account for major revenue share in the global self-tanning products market due to increasing consumers spending on beauty products. Consumers are more conscious about the way they look they are more focused on adoption of smart and safe beauty practices.
*Download Sample Pages Of this Report@ **https://www.acumenresearchandconsulting.com/request-sample/2388*
Rising incidences of skin cancer in the region at alarming rate is resulting in consumer’s interest towards adoption of modern solution such as skin lotions and pills. Major players operating in the country are investing high for R&D activities and focused on development of safe reliable products. Chancing consumer standards and high spending capacity is resulting in demand for products with better effects. Government is imposing various regulations related to use of harmful chemicals in beauty products this is resulting in manufacturers approach towards introduction of organic products. Major players focused on enhancing the business through strategic acquisition and increase the customer’s base this is expected to impact the growth of self-tanning products market in this region. In 2020, Crown Laboratories, Inc. a specialty pharmaceutical company and Hildred Capital Partners, LLC in collaboration acquired the Vita Liberata, Ireland based company that specializes in sunless tanning and skincare products. This acquisition is expected to help the company to enhance the business presence and increase the revenue share.
*View Details Report With Table Of Contents@ **https://www.acumenresearchandconsulting.com/self-tanning-products-market*
The market in Asia Pacific is expected to witness faster growth in the self-tanning products market over the forecast period due to rising awareness among consumers related to UV rays. In addition, rapid urbanization in developing countries and higher consumer spending on cosmetic brands are factors expected to support the growth of self-tanning products market. Players are focused on enhancing the business in emerging economies in order to increase the customer base and introduction of innovative products from players are factors expected to boost the growth of self-tanning products market.
Gradual rise in awareness among consumers related to traditional tanning process, high spending by consumers on beauty products and introduction of modern solution such as pills and gels by major players are major factors expected to drive the growth of global self-tanning products market.
· In 2020, ST TROPEZ a beauty product brand launched new Self Tan Express Bronzing Gel that uses skin caring ingredients such as Hyaluronic Acid to help skin keep moisturized and help the tan last longer. This product launch is expected to help the company to enhance the customer base and increase the revenue.
· In 2020, Bondi Sands an Australian self tanning brand expanded its product range with it’s first-ever line of body care products. The company offers more than 20 self-tanning products from gradual tanning milks to mists and lotions. This is expected to help the company to increase the product offering and attract new customers.
In addition, increasing acquisition activities by players in order to increase the product portfolio and revenue share is expected to boost the growth of self-tanning products market.
· In 2020, PZ Cussons a manufacturer of Imperial Leather soaps and Carex handwashes acquired the tanning brand St Tropez. This acquisition is expected to help the company to enhance the business.Favorable business policies by the government of developing countries and surfacing of small & mid-size enterprises with innovative solutions are factors expected to support the growth of target market. Factors such as stringent government regulation related to product approval and high cost of products are expected to hamper the growth of global self-tanning products market. In addition, side-effect of the products is expected to challenge the growth of self-tanning products market. However, factors such as increasing investment by major players for R&D activities and focus on introduction of organic solutions are expected to create new opportunities for players operating in the target market. In addition, major players focused on strengthening the distribution channel is expected to support the revenue transaction of target market. Players operating in the global self-tanning products market are Estée Lauder Companies, Kao Corp. L'Oréal Group, Procter & Gamble, Unilever, Beiersdorf, Johnson & Johnson, Avon Products, Inc., Shiseido Co. Ltd., and Swallowfield. The market is highly competitive due to presence of large number of players operating on global level.
*INQUIRY BEFORE BUYING@* https://www.acumenresearchandconsulting.com/inquiry-before-buying/2388
*Buy this premium research report* – https://www.acumenresearchandconsulting.com/buy-now/0/2388
Would like to place an order or any question, please feel free to contact at sales@acumenresearchandconsulting.com | +1 407 915 4157
*For Latest Update Follow Us:*
https://twitter.com/AcumenRC
https://www.facebook.com/acumenresearchandconsulting
https://www.linkedin.com/company/acumen-research-and-consulting/