Burn out: New self-tanning and skin care products plus intelligent tanning beds are expected to keep industry demand afloat
Economic and regulatory factors challenged tanning salons' performance even before the COVID-19 pandemic. Motivated by increasing health concerns for adults, especially children, the ACA included a 10.0% excise tax on indoor tanning services. The COVID-19 pandemic brought on additional revenue challenges leading to businesses closing, reduced revenue and significant client reductions. Fortunately, pent-up demand for services generated a healthy rebound in 2021, spurred by higher levels of consumer spending and international vacations in 2020 and 2021. Despite this rebound, industry-wide revenue has been contracting at a CAGR of 5.4% over the past five years, and is expected to total $1.8 billion in 2023. Revenue is projected to jump an estimated 1.3% in 2023.
The Tanning Salons industry includes companies that provide indoor tanning services through UV tanning beds and booths, in addition to spray-on tanning services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Palm Beach Tan Inc.
Methodology
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