Los Angeles, California (PRWEB) December 08, 2011
The Self-Tanning Product Manufacturing industry is anticipated to continue another five years of strong growth, with further US economic recovery assisting sales, particularly those of higher priced products. While the industry's primary competitor, the Tanning Salons industry, is expected to experience average yearly growth of 1.1% over the five years to 2016, sales of US-produced self-tanners are expected to increase at an average annual rate of 12.8% to $940.6 million. According to a new report from IBISWorld, in 2012 alone, revenue will increase an estimated 18.1% to $609.3 million. More products, heavy marketing and a continued expansion of small operators will assist such rapid growth. For this reason, industry research firm IBISWorld has added a report on the Self-Tanning Product Manufacturing industry to its growing Cosmetics & Personal Care Manufacturing report collection.
According to IBISWorld analyst, Agata Kaczanowska, the Self-Tanning Product Manufacturing industry has grown furiously for more than a decade, and the economic downturn failed to slow it down. Operators manufacture topical application lotions and sprays that create the appearance of tanned skin without exposure to sunlight (i.e. a sunless tan). Product innovation and improvements, growing consumer awareness about the negative health effects of UV (ultraviolet) tanning and increased legislative requirements on tanning salons have combined to support demand for sunless self-tanning products for home use.
“Large corporations such as Kao Brands Company (Jergens) and small producers have benefitted from the rapid growth in popularity of self-tanners, and have responded to customer demand accordingly,” says Kaczanowska. Furthermore, established cosmetics producers have joined the industry, producing self-tanners and marketing them under established cosmetics brand names. Over the five-year period since 2006, industry revenue is projected to increase at an average annualized rate of 22.5% to $516.0 million, including growth of 24.1% in 2011.
Consumer awareness about the harmful effects of exposure to UV rays is a major determinant of demand for the Self-Tanning Product Manufacturing industry, which provides a tanning alternative that is advertised as healthier. Tanning is the skin's response to UV rays given off by the sun and tanning lamps. Tanning beds and tanning lamps can more than double the risk of cancer, according to a study produced by the Journal of the National Cancer Institute. About 2 million Americans are diagnosed with skin cancer each year. Additionally, frequent tanning can cause the skin to age and wrinkle at a faster pace. In response to heightened health awareness, the demand for sunless tanning has been growing over the past decade, which has led to more product innovation in the industry, thereby helping satisfy a wider range of consumers.
The Self-Tanning Industry is anticipated to continue another five years of strong growth, with further US economic recovery assisting sales, particularly those of higher priced products. While the industry's primary competitor, the Tanning Salons industry, is expected to experience average yearly growth of 1.1% over the five years to 2016, sales of US-produced self-tanners are expected to increase at an average annual rate of 12.8% to $940.6 million. In 2012 alone, revenue is projected to jump 18.1% to $609.3 million. More products, heavy marketing and a continued expansion of small operators will assist such rapid growth.
For more information, including latest health trends, statistics, analysis and market share information on Self-Tanning industry, download the full report from IBISWorld on the Self-Tanning Product Manufacturing industry
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