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Sun Care Products Market Insights, Analysis Report 2024-2033
Sun Care Products Market Insights
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According to The Business Research Company's, The sun care products market size has grown strongly in recent years. It will grow from $13.82 billion in 2023 to $14.77 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to awareness of skin cancer, tourism and outdoor activities, scientific advancements, aging population, marketing and promotion..
The sun care products market size is expected to see strong growth in the next few years. It will grow to $19.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to rising uv radiation levels, the growth of global travel, skin health awareness, clean beauty and green sunscreens, sun serums. . Major trends in the forecast period include digital and uv monitoring, adaptive spf, plant-derived uv filters, sunscreen packaging innovation, customization and personalization..
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Market Drivers and Trends:
The growing demand for organic and natural personal care products is expected to propel the growth of the sun care products market going forward. Organic products do not include harsh chemicals, they are produced using organic ingredients. Due to the various advantages of organic products, the demand for organic sun care products is expected to rise in the market. For instance, in January 2020, according to a survey conducted by BioMed Central, a UK-based scientific journal published, from a survey conducted among 500 individuals, this survey found a significant 80.2% prevalence of using herbal products. Moreover, according to an article published by World Health Organization, a Switzerland-based international organization responsible for public health, according to estimates, traditional medical practices like herbal remedies, acupuncture, yoga, indigenous therapies, and others are used in 88% of all countries. Therefore, the growing demand for organic and natural personal care products is driving the demand for the sun care products market.
Product innovations have emerged as the key trend gaining popularity in the sun care products market. Major companies operating in the sun care products market are focused on developing new and innovative products to strengthen their market position. For instance, in January 2021, Shiseido Company Limited, a Japan-based cosmetic company, launched ANESSA, a brightening UV sunscreen gel. It consists of titanium dioxide and zinc oxide, providing optimum protection according to the brand's unique Smooth Protect Technology. When the applied sunscreen is warmed by heat, such as from the sun, the Smooth Protect Technology boosts the effect of UV protection by spreading the UV protection ingredient uniformly in a film coating. The thinner composition combats the dreaded white or purple cast, leaving a silky-smooth finish that is nearly unnoticeable on the skin. The smooth protection technology is the latest in a line of innovative sun protection technologies developed by Shiseido.
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Major Key Players of the Market:
L'Oreal SA, Johnson & Johnson Services Inc., Procter & Gamble Co., Beiersdorf AG, Coty Inc., Shiseido Company Ltd., Estee Lauder Companies Inc., Bioderma Laboratories, Burt's Bees Inc., Unilever plc, Kao Corp, Bayer AG, Walgreens Boots Alliance Inc., Weleda AG, Mary Kay Inc., Amorepacific Corp, Natura & Co Holding SA, Edgewell Personal Care Co., Avon Products Inc., Revlon Inc., Oriflame Cosmetics AG, Groupe Clarins, La Roche-Posay, Vichy Laboratories, Coppertone, Hawaiian Tropic, Banana Boat Ltd., Sun Bum LLC, Supergoop!, Coola Suncare
Sun Care Products Market 2024 Key Insights:
• The sun care products market size is expected to see strong growth in the next few years. It will grow to $19.39 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Rising Demand For Organic Sun Care Products Drives Market Growth
• Shiseido Anessa Uv Gel Leading Sunscreen Innovation
• Europe was the largest region in the sun care products market share in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."
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