Asia Pacific Self-Tanning Products Market: Industry Analysis and Forecast (2024-2030) Trends

Asia Pacific Self-Tanning Products Market Overview:

Asia Pacific Self-Tanning products market is estimated to show a healthy CAGR of 4.5% during the forecasted period (2024-2030). In the past, the Self-Tannig market in Asia-Pacific registered a positive compound annual growth rate (CAGR) of 0.55% during the period 2012 to 2017, with a sales value of USD 122.79 Million in 2017, an increase of 4.70% over 2016. The market had its best year in 2016, when it grew by 6.84 percent over the previous year, and its worst year in 2015 when it fell by -6.93 percent over 2014. Between 2012 and 2017, the fastest growing segment of the Self-Tan market in Asia-Pacific was Mass Self-Tan, with a CAGR of 0.58 percent. Premium Self-Tan was the market's worst performer, with a CAGR of 0.51 percent. In 2017, the mass self-tan segment accounted for 55.22 percent of the Asia-Pacific self-tan market, while premium self-tan ranked second with 44.78 percent of the market share.

 

 

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Various favourable business regulations enforced by the governments of several developed countries in the Asia Pacific region, as well as the emergence of small and mid-size enterprises with innovative solutions, are likely to drive the Asia Pacific self-tanning product market forward.

 

Furthermore, factors such as increased R&D investment by numerous market players, as well as their growing emphasis on the introduction of organic solutions, are expected to open up new opportunities for businesses in the Asia Pacific Self Tanning market.

 

Along with that, the key market players are focused on expanding the distribution channel. The Asia Pacific is estimated to have a significant footprint in the self-tanning product market due to the growing number of young people with more disposable income. It would also increase consumption of personal care products such as self-tanning. According to UNICEF data released in October 2019, South East Asia is expected to have the largest youth labor force, with 100,000 people joining the workforce every day.

 

Furthermore, fierce competition among key market players such as Loreal, Estée Lauder, Unilever, and others is propelling the market forward by increasingly manufacturing products that are solely designed to meet the skin and climatic conditions of people in the Asia Pacific region.

 

The Premiumization of self-care and cosmetics market products due to the high cost of R&D and increased production cost due to sustainable and environmentally safe products will raise the product cost. This could restrain market growth in some parts of the Asia pacific region due to price consciousness.

 

Asia Pacific Self-Tanning products Market Segment Analysis:

By Products, the Asia Pacific Self-Tanning Products Market is segmented into Lotions and Gels. Lotions segment dominated the market in the past and it is estimated to maintain its share. This is attributed to the ease of use for the lotion.

 

By Application, the Asia Pacific Self-Tanning Products Market is segmented into Men and Women. The women's application segment accounted for more than 65 percent of the Asia Pacific Self Tanning products market in 2023 and is estimated to be dominant through the forecast period (2024-2030). Women are increasingly incorporating grooming products into their daily routines in order to improve their appearance and confidence.

 

By Distribution Channel, the Asia Pacific Self-Tanning Products Market is segmented into Online, Convenience stores, Supermarkets & Hypermarkets. The online channel segment is estimated to grow at the fastest rate during the forecast period (2024-2030). The pandemic has triggered a digital explosion in a variety of industries. For Instance, players are turning their heads toward online channels. For instance, in 2021, Hindustan Unilever Ltd (HUL) announced its plans to scale up the online reach of the company’s premium brands through standalone branded sites, as well as its multi-brand shopping platform Ushop, wherein Ushop (launched in the second half of 2020) is set to expand beyond the National Capital Region, and Mumbai (India), to eight more cities across the country.

 

Asia Pacific Self-Tanning products Market Regional Insights:

Consumers across the Asia Pacific region are inclined toward organic products and personal care products, especially those formulated using Ayurvedic, botanical, and herbal ingredients, which are expected to drive Asia Pacific Self-tanning products market growth during the Forecasted period (2024-2030). The rising awareness about the harmful effects of UV rays from the sn is another factor augmenting the growth of the market.

 

• The Republic of Korea's cosmetic sector is one of the fastest-growing markets for cosmetics and personal care, growing at a rate of nearly 6% per year.
• China dominated the Asia Pacific Self-tanning Products Market by Country in 2020 and would continue to do so until 2027, achieving a market value of $81.9 million by then.
• The Japanese market is expected to grow at a CAGR of 3.8 percent during the forecast period (2024-2030).
• Additionally, the Indian market is expected to grow at a CAGR of 5.1 percent during the forecasted period (2024-2030).

 

The objective of the Asia Pacific Self-Tanning products Market report is to present a comprehensive analysis of the Asia Pacific Self-Tanning products market to the stakeholders in the industry. The Asia Pacific Self-Tanning products Market report provides trends that are most dominant in the Asia Pacific Self-Tanning products market and how these trends will influence new business investments and market development throughout the forecast period. The Asia Pacific Self-Tanning products Market report also aids in the comprehension of the Asia Pacific Self-Tanning products Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Self-Tanning products market report will assist in understanding which market segments, regions, and factors affecting the market, as well as key opportunity areas, will drive the industry and market growth over the forecast period (2024-2030). The report on the Asia Pacific Self-Tanning products Market also includes the competitive landscape of key industry players, as well as their recent developments in the Asia Pacific Self-Tanning products market. The Asia Pacific Self-Tanning products Market report investigates factors such as company size, market share, market growth, revenue, production volume, and profits of the market's key players.

 

 

The Asia Pacific Self-Tanning products Market report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The Asia Pacific Self-Tanning products Market report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Self-Tanning products market. The Asia Pacific Self-Tanning products Market report also analyses if the Asia Pacific Self-Tanning products market is easy for a new player to gain a foothold in the market, do they enter/exit the market regularly, if the market is dominated by a few players, etc.

 

The report on the Asia Pacific Self-Tanning Products Market also includes a PESTEL Analysis, which aids in the development of company strategies. Political factors contribute to determining how much a government can influence the Asia Pacific Self-Tanning Products market. Economic variables aid in the analysis of economic performance drivers influencing the Asia Pacific Self-Tanning Products market. Legal factors aid in understanding the impact of the surrounding environment and the impact of environmental concerns on the Asia Pacific Self-Tanning Products market.

 

Asia Pacific Self-Tanning products Market Scope:

Asia Pacific Self-Tanning Products Market Scope
Market Size in 2023	USD 157.25 Mn.
Market Size in 2030	USD 213.99 Mn.
CAGR (2024-2030)	4.5%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Products Lotions Gels
	By Application Men Women
	By Distribution Channel Online Convenience store Supermarkets & Hypermarkets
Country Scope	China India  Japan  South Korea Australia  ASEAN Rest of APAC

 

Asia Pacific Self-Tanning products Market Key Players

• Unilever PLC (UK)
• Avon Products, Inc. (UK)
• Shiseido Company, Limited (Japan)
• Clarins Group SA (France)
• L'Oreal Group (France)
• Johnson & Johnson (USA)
• Kao Corporation (Japan)
• Beiersdorf AG (Germany)
• PZ Cussons plc (UK)