Sun Care Products Market to Worth US$ 22.8 Billion by 2032 | With a 6.1% CAGR - IMARC Group

The latest report published by IMARC Group, titled "Sun Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on sun care products market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global sun care products market size reached US$ 13.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 22.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.

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Factors Affecting the Growth of the Sun Care Products Industry:

• Increased Awareness of Skin Health:

The rise in consumer awareness regarding skin health is a profound driver of the sun care products market. This awareness is fueled by extensive public health campaigns and information dissemination about the dangers of UV radiation, including skin cancers, such as melanoma and cosmetic concerns such as premature aging and sunspots. The influence of social media, health blogs, and influencer endorsements in promoting sun safety has also been significant. As a result, consumers are increasingly vigilant about using sun protection daily, not just during beach vacations or summer months. This shift in consumer behavior has led to a consistent demand for sun care products, encouraging brands to innovate and expand their product lines to cater to this educated market segment.

• Beauty Trends and Cosmetic Integration:

The intersection of sun care with beauty and cosmetics represents a dynamic growth area in the market. Consumers are drawn to products that offer dual benefits, including protection from the sun and cosmetic enhancement. This trend has led to the emergence of multi-purpose products, such as BB and CC creams with SPF, tinted sunscreens, and daily moisturizers with sun protection. The cosmetic appeal of these products, coupled with their protective benefits, appeals to a broad consumer base, particularly in urban settings where daily sun exposure is a concern. Furthermore, the rising trend towards natural and organic ingredients in beauty products has permeated the sun care sector, with a growing preference for mineral-based sunscreens and formulations free from parabens and oxybenzone, underpinning market expansion.

• Outdoor Lifestyle and Recreational Activities:

The rise in outdoor and recreational activities significantly contributes to the growth of the sun care products market. Activities such as hiking, swimming, and beach tourism necessitate effective sun protection solutions. This lifestyle trend has increased the development of sun care products tailored for outdoor use, characterized by higher SPF ratings, water, and sweat resistance, and convenient application methods, such as spray-on sunscreens and stick formulations. This segment also sees seasonal spikes, with higher sales during summer months and in regions with warmer climates, indicating a direct correlation between lifestyle patterns and sun care product consumption.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Johnson & Johnson
• L'Oreal
• Revlon
• Unilever
• Shiseido
• Estee Lauder
• Beiersdorf
• Avon Products
• Clarins Group
• Proctor & Gamble
• Coty
• Lotus Herbals
• Amway
• Edgewell Personal Care

Sun Care Products Market Report Segmentation:

By Product Type:

• Sun Protection Products
• After-Sun Products
• Self-Tanning Products

Sun protection products represented the largest segment as the products, including sunscreen lotions and creams, are the most commonly used and essential items in sun care routines.

By Product Form:

• Cream
• Gel
• Lotion
• Wipes
• Spray
• Others

Lotion represented the largest segment due to the widespread preference for lotions as they offer easy application and even coverage, making them the dominant choice among consumers.

By Gender:

• Female
• Male
• Unisex

Female represented the largest segment due to the traditionally higher usage of sun care products among females, given their heightened awareness of skincare and sun protection.

By Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Retailers
• Pharmacies and Drug Stores
• Online Stores
• Others

Sun care products represented the largest segment as the sun care products are readily available through various retail channels, including pharmacies, supermarkets, and online platforms, making them highly accessible to consumers.

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Asia Pacific was the largest market as the region has a significant population and experiences high levels of sun exposure, augmenting the demand for sun care products in this region.

Sun Care Products Market Trends:

Continual advancements in technology and product formulation are at the forefront of augmenting the innovation in the sun care market. Modern sunscreens offer multifaceted benefits beyond UV protection, such as anti-aging properties, skin hydration, and the inclusion of antioxidants. The use of nanotechnology has enabled the creation of sunscreens that are more transparent and less greasy, addressing common consumer complaints about sunscreen aesthetics. Additionally, continual developments in encapsulating UV filters have improved the stability and efficacy of sunscreens. These innovations enhance the protective qualities of sun care products and improve user experience, thus influencing consumer preference and driving market growth.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.