PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106227
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1106227
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Global Sunless Tanners Market to Reach $1.9 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Sunless Tanners estimated at US$1.4 Billion in the year 2020, is projected to reach a revised size of US$1.9 Billion by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027. Lotions, one of the segments analyzed in the report, is projected to record a 4.5% CAGR and reach US$927.4 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Gels segment is readjusted to a revised 5.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $371.3 Million, While China is Forecast to Grow at 7.2% CAGR
The Sunless Tanners market in the U.S. is estimated at US$371.3 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$104.2 Million by the year 2027 trailing a CAGR of 7.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$99.7 Million by the year 2027.
Other Types Segment to Record 4.2% CAGR
In the global Other Types segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$254.6 Million in the year 2020 will reach a projected size of US$334.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.1% CAGR through the analysis period.
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