Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings.
January 5 2021
A tanning product allows tanning darker and quicker than it would be lying in the sun. These tanning products are formulated to help consumers achieve a good base tan and are ideal for those beginning their indoor tanning adventure. It helps to procure a healthy and glowing tan without any adverse effects of damaging UV outdoor and indoor rays. Moreover, the consumer can choose premium products, which are made with organic and natural ingredients. The lotion segment is the major giver to the growth of the tanning products market. Lotions seem to be preferred over creams and other types of tanning products. Lotions have low viscosity and are more readily absorbed by the skin. Moreover, they are lightweight and leaves a less greasy deposit. These factors are leading to an increased demand for lotion in the global market. The tanning products such as lotions have been promoted as an effective substitute to dodge the health risks of ultraviolet rays. However, the subtle tan lasts from 5 days to a week, and consumers often look for long-term results. This is likely to limit the market growth during the forecast period.
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The rising awareness about the skin benefits of tanning products like lotions is expected to increase the demand for these products among women and men end users. Also, the improved lifestyle of the people coupled with a rise in disposable incomes, particularly in developing countries, offers immense growth potential for players operating in the lotions market. Moreover, the inclination of the young generation toward natural and organic-based products is expected to create a huge opportunity for tanning lotions across the world. However, the report also says that the market is also experiencing intense competition due to the presence of new entrants and competitive pricing strategies adopted by players. Pricing strategies of aspirant companies have compelled established players in the market to adopt competitive prices. Lower pricing has reduced the profit margins from products and services.
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The report is a one-stop way to classify and compare the market segments and its attracting factors based on the CAGR and market share index across or beyond North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report also provides detailed segmentation, categorized by the form, category, type, end-user, distribution channel, and region in the scope of the study. The same has been covered in the region-wise share analysis of the tanning products market. The report centres on several key trends impacting the growth of the tanning products market. Some of the trends include the focus on beauty, healthcare, etc. Moreover, the study identifies the bargaining power of suppliers, bargaining power of buyers, the threat from new entrants, threat from substitutes, and the degree of competition in the global tanning products market has been included in the report.
The report with its easy and plain manner has cited utilitarian ideas of the market. The report also highlights various significant facts responsible for the growth of the market such as development factors, statistical growth, business strategies, financial loss or gain to assist readers, as well as clients, comprehend the tanning products market from a global perspective. The report explicates the market for tanning products via a sequence of channels that incorporate data ranging from fundamental information to an unquestionable projection. It further includes all the primary factors that are expected to undergo definite transformation within the market.
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