What Can Be The Best Investment Choices For After-sun Products Market?

After-sun products are used after exposure to sun to provide hydration, cooling, and nourishment. It reduces redness of skin and prevents skin peeling due to sun burn. Increasing awareness of health hazards caused due to prolonged sun exposure such as sunburn, skin-tanning, early aging, and skin cancer is driving growth of the after-sun products market. Rising trend of organic and natural personal care products is increasing the demand for after-sun products containing natural components such as aloe vera, fruit extract, and others. According to the Centre for the Promotion of Imports, natural cosmetics market in Germany grew by 9.2% in 2016 with consumer spending of US$ 1.37 billion in 2016.

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VLCC Health Care Limited launched sun care summer range including soothing after-sun gel containing red algae gel and sea buckthorn fruit oil in January 2013. The development of new packaging technology and products including after-sun sheet masks and sprays is fueling the growth of after-sun products market. For instance, Empack Spraytech Inc. launched Aloe Continuous Clear Spray containing aloe vera extracts to reduce sunburn pain and moisturize peeling skin in 2015. The availability of other sun care products such as sunscreen is restraining the growth of after-sun products market. According to Canadian Community Health Survey, in Canada, 63% of the population above 18 years old used sunscreen on face and 51% on body for sun protection in 2014.

After-sun products Market Taxonomy

On the basis of product type, after-sun products market is segmented into:

Essential oils
Cleansers and Foaming
Gels and Scrubs
Creams and Lotion
Others
On the basis of end-user, after-sun products market is segmented into:

Male
Female
On the basis of distribution channel, after-sun products are segmented into:

Supermarkets
Hypermarkets
Convenience stores
Specialty stores
Online channel
Creams and lotion product type segment accounted for highest market share in 2016 due to its advantages such as easy application, ease of handling, and rapid absorption. Female segment held the highest market share in the end user segment of after-sun products market. This is attributed to the rising awareness of skin problems such as wrinkles, tanning, premature aging, and dry skin due to sun exposure among women.

After-Sun Products Market Outlook

Europe region held highest market share in the global after-sun products market. This is attributed to the significant demand for skin care products such as after-sun products in this region. According to Cosmetics Europe, a trade association for cosmetics and personal care industry in Europe, skin care products held the highest market share with retail sales of US$ 23.71 billion in 2016 in Europe. Furthermore, significant incidences of sun burn is fueling growth of after-sun products market in this region. According to the British Association of Dermatology, 72% of the population in U.K. admitted that they suffered from sunburn in 2014.
North America region held the second largest share in the global after-sun products market. According to Canadian Community Health Survey, in Canada, 33% of the population above 18 years old had sun burn and 10% of the adults had sunburn that was painful for over one day in 2014. This is increasing the demand for after-sun products in this region as after-sun products provides cooling, hydrating, and soothing effect, which minimizes the pain of sunburn.

Asia Pacific has lucrative demand for after-sun products, owing to rising consumer awareness of advantages of after-sun products such as reduction of skin peeling caused due to skin tanning. Increasing personal care and cosmetics industries in economies such as China, Korea, and India is fueling the growth of this market. For instance, according to The Associated Chambers of Commerce and Industry of India, personal care industry in India is projected to reach US$ 20 billion by 2025. Significant incidences of diseases such as skin cancer due to exposure to U.V. radiations is propelling the growth of sun protection products in this region.

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The companies operating in the after-sun products market are launching new products for business expansion. Vichy Laboratories launched Ideal Soleil After-Sun In-Shower to reduce skin dryness caused due to sun exposure in 2016.

Key players operating in global after-sun products market include L'Oréal Group, Beiersdorf AG, Christian Dior SE, The Estee Lauder Companies Inc., Shiseido Co., Avon Products, Inc., Johnson & Johnson Services, Inc., Kao Corporation, Unilever PLC, and The Procter & Gamble Company.

Key Developments:

Vichy Laboratories launched Ideal Soleil After-Sun In-Shower to reduce skin dryness caused due to sun exposure in 2016.
30 April 2019, OUAI Haircare is launching first just-body product under summer-ready after sun body smoother.It is a fizzy, foaming body lotion which soothes the skin after a sunburn.
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