Asia Pacific Self-Tanning Products Market Overviews
Asia Pacific Self-Tanning Products Market is estimated to grow at a CAGR of 4.5% during the forecast period. Asia Pacific Self-Tanning products Market is expected to reach US$ 213.99 Mn. in 2029 from 157.25 US$ Mn. in 2023.
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.
Asia Pacific Self-Tanning Products Market Scope and Methodology:
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 RD 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.
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).
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Asia Pacific Self-Tanning Products Market Segmentation
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.
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)
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Key questions answered in the Asia Pacific Self-Tanning Products Market are:
- What is Asia Pacific Self-Tanning Products ?
- What was the Asia Pacific Self-Tanning Products market size in 2023?
- What is the growth rate of the Asia Pacific Self-Tanning Products Market?
- Which are the factors expected to drive the Asia Pacific Self-Tanning Products market growth?
- What are the different segments of the Asia Pacific Self-Tanning Products Market?
- What growth strategies are the players considering to increase their presence in Asia Pacific Self-Tanning Products ?
- What are the upcoming industry applications and trends for the Asia Pacific Self-Tanning Products Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Asia Pacific Self-Tanning Products Market?
- Who are the leading companies and what are their portfolios in Asia Pacific Self-Tanning Products Market?
- What segments are covered in the Asia Pacific Self-Tanning Products Market?
- Who are the key players in the Asia Pacific Self-Tanning Products market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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