Sun Care Market to be Worth USD 3 billion by 2031, Growing at CAGR 5.6% : Report by Transparency Market Research, Inc.
Social media influencers and eco-friendly packaging are driving sun care demand in the market.
Wilmington, Delaware, United States, Dec. 14, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The sun care market in 2020 was valued at US$ 1.7 billion. A CAGR of 5.6% is estimated between 2021 and 2031. Global sun care sales are expected to reach US$ 3 billion by 2031. The design of sun protection products is evolving with new products such as ‘sunscreens.’ Products such as neon star patches and whipped cream mousse make sun protection more appealing and enjoyable.
The online sale of sun care products has experienced significant growth. Online shopping has continued to increase due to the COVID-19 pandemic, and companies are working to improve their e-commerce strategies and expand their online presence. Sun protection has become even more important due to the escalating rate of skin cancer cases worldwide. Sunscreen is one preventive measure that consumers are increasingly recognizing as necessary to reduce their risk of skin cancer.
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It is common nowadays for people to spend more time outdoor, participating in recreational activities, and even traveling. As a result of this, there has been an increase in exposure to the sun, which has driven the growth of sun care products designed to protect the skin from harmful ultraviolet rays.
Global Sun Care Market: Key Players
Product innovation is a key focus for sun care product manufacturers. Companies are focusing on expanding their geographic reach to remain competitive in the market and reach a wide range of customers. Many manufacturers are collaborating with or acquiring small companies to gain a competitive edge in the global market. Companies specializing in sun care follow these strategies to increase their market share.
- Shiseido Co., Ltd
- La Roche-Posay
- Banana Boat
- Blue Lizard
- Fresh LLC
- KINeSYS Performance Sunscreen
Key Findings of the Market Report
- Sun care markets are expected to grow rapidly in the Asia Pacific throughout the forecast period, leading the global market.
- As awareness of skin care products increases, SPF 50+ will likely drive demand for sun care products.
- Based on sports type, outdoor activities leading to extremes are likely to drive demand for sun care products.
- The demand for medium-priced sun care products is expected to grow in the coming years.
Global Sun Care Market: Growth Drivers
- Sun care products made from organic and cruelty-free ingredients are in high demand. Natural and sustainable skincare products are becoming more popular with consumers. With the advent of products featuring advanced shield technology, the sun care market is experiencing technological advancements.
- With these products, damaged skin can be repaired, and the natural skin tone maintained, resulting in improved market opportunities. Sun protection measures have become more popular as consumers become more aware of the harmful effects of UV radiation on their skin.
- Sun care products are in high demand due to the growing understanding of how sun exposure causes skin cancer. Health and beauty routines include the use of sun protection products as a precaution. A majority of consumers are looking for products that provide both sun protection and additional skincare benefits such as hydration and anti-aging properties.
- A broad spectrum of UV rays is better protected by advanced formulations developed by the sun care industry. The development of antioxidants and infrared protection contributes to the appeal of sun care products. The formulation of sun care products has been influenced by strict regulations and standards related to sun protection.
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Global Sun Care Market: Regional Landscape
- Asia Pacific is expected to grow in demand for sun care products in the market in the coming years. The growing awareness of sun care products among consumers and high climatic conditions are expected to drive demand for these products in the next few years.
- A rising economy and increasing purchasing power are expected to drive sun care product demand in the future. The demand for sun care products is expected to increase in India and China in the next few years. Manufacturers and users of sun care products in India and China are expected to drive demand in the next few years. China and India are likely to positively impact the Asia Pacific market due to the rise in skin care awareness and concerns about UV rays and skin conditions.
- In November 2023, Seppic announced Fluidfeel Easy, a naturally derived emulsifier that feels soft and light on the skin. Multiple applications are possible with the ingredients, such as suncare, skiing care, makeup, hair care, hygiene, and perfume.
- In December 2023, Sorbet released its new campaign, ‘Don’t skip the sunscreen,’ in collaboration with Heliocare, a dermatological skincare protection brand.
Global Sun Care Market: Segmentation
- Lip Balm
- SPF 6-14
- SPF 15-29
- SPF 30-50
- SPF 50+
By Sports Type
- Extreme Outdoor
- Others (Cricket, Tennis, etc.)
- North America
- Asia Pacific
- South America
- Middle East & Africa
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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