The Global Market for Sun Care Products is Projected to Reach US$13.7 Billion by 2024

Rising Consumer Awareness Over the Importance of Sun Protection Drives the Global Sun Care Products Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Sun Care Products market. The global market for Sun Care Products is projected to reach US$13.7 billion by 2024, driven by the launch of multi-functional skin care products and rise in consumer awareness over the harmful effects of UV on the skin.

Sun Care products are designed to safeguard the skin against harmful UVA and UVB rays of the sun. Increasing concerns of skin cancer and rising awareness relating to the damage caused due to UV exposure are encouraging consumers to use sun protection products on a regular basis. Currently demand is high for sun-protection products with reliable, effective and advanced formulations. Apart from the usual feature of UVB and UVA protection, sun care products are available in new formats that provide value-added benefits such as enhanced levels of SPF, integration of synergistic ingredients, waterproofing, product application ease, prolonged UVA and UVB protection, antioxidant vitamins and advanced polymer technology. Different types of formulations are being designed for different skin types, age groups, body parts, lifestyles, and activity levels. The addition of sunscreens in various personal care categories such as anti-wrinkle lotions, daily wear, and kids and baby care products is also driving sun care product sales.

Sun-protection products represent the largest and fastest growing segment in the global sun care products market. Global demand for long-lasting, multifunctional, and full protection products with lighter touch, increased spreadability is expected to continue in the future. Over the past few years, innovation in the industry has been centered on antipollution products. A wide range of sun-care products with antipollution benefits were launched in recent years. Most of these products feature organic and natural beauty ingredients to meet the growing demand among consumers for greener options. The market is also witnessing increased demand for sun care products specifically designed for children. Producers of sun care products are also stepping up their focus on self-tan inducing products, and everyday products for sun care, besides introducing combination products. The market has evolved to include products featuring soothing and moisturizing properties, which are used to treat ‘after-sun exposure’ scenario. Manufacturers are currently focusing on self-tanning applications and developing skin care products for daily use, as opposed to their prior focus on beach-oriented skin care products.

As stated by the new market research report on Sun Care Products, Europe represents the largest market worldwide. Emerging economies in Asia-Pacific and Latin America are expected to drive future growth in the market. Latin America is forecast to display the fastest CAGR of 8.6% over the analysis period. Growth in emerging markets is driven by increasing awareness regarding the harmful effects of UV radiation and inclusion of Sun Protection Factor (SPF) in various products, including anti-aging products, baby products and other cosmetic products.

Key players in the market include Avon Products Inc., Bayer Healthcare, Beiersdorf AG, Blistex Inc., Clarins Group, Edgewell Personal Care Company, Johnson & Johnson, Neutrogena Corporation, Lancaster, L’Oréal S.A, Shiseido Co. Ltd., The Estée Lauder Companies Inc., and Walgreens Boots Alliance, among others.

The research report titled “Sun Care Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, Indonesia, Malaysia, South Korea, Taiwan, Thailand and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. Product segments analyzed in the report include Sun Protection, Self-Tanning and After-Sun Products.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com

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Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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