Sun Care Products Market to Surpass 15.76 Billion by 2030 Drives Due to Growing Awareness of Health and Beauty Concerns
SkyQuest projects that the sun care products market will attain a value of USD 15.76 billion by 2030, with a CAGR of 4.4% over the forecast period (2023-2030). Suncare products are experiencing a surge in popularity among consumers, particularly adults and millennials, driven by a growing awareness of health and beauty concerns. These products are increasingly recognized as essential for safeguarding the skin from the harmful effects of sun exposure in the sun care products market.
Westford USA, Feb. 06, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the sun care products market is witnessing a notable shift in consumer trends towards luxury cosmetic items, which is expected to impact market growth significantly.
Browse in-depth TOC on the "Sun Care Products Market”
Pages - 157
Tables – 64
Figures – 77
Two significant factors are driving the growth of the sun care products market. Consumers are increasingly concerned about the need for effective skin protection against the sun's harmful rays in the sun care products market. This heightened awareness stems from the well-established understanding that excessive sun exposure can lead to various skin issues, including sunburn, premature aging, and an increased risk of skin cancer.
Prominent Players in Sun Care Products Market
Beiersdorf AG
Johnson & Johnson
Estée Lauder Companies Inc.
Shiseido Co., Ltd.
Procter & Gamble Co.
Unilever PLC
Colgate-Palmolive Company
Coty Inc. (United States)
Avon Products, Inc.
Mary Kay Inc.
Amway Corporation
Natura & Co Holding S.A.
Clarins Group
Revlon, Inc.
Kao Corporation
Chanel S.A.
Estée Lauder
Bioderma
La Roche-Posay
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Adult Cream Segment is Expected to Grow the Market Due to Multi-Purpose Benefits
Adult cream segment has emerged as the dominant force in the sun care products market, capturing the largest revenue share, which exceeded 69.4% in 2020. This segment's strong market presence is expected to persist and maintain its dominance throughout the forecast period.
The market in Europe has firmly established its dominance in the sun care products market, commanding the largest revenue share, which amounted to 35.1%. This market leadership position can be attributed to the increasing awareness among consumers in the region regarding the adverse consequences of extended sun exposure on the skin.
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Specialty Store Segment is Expected to Dominate the Market Due to Delivering Exceptional Customer Satisfaction
Specialty store segment within the skincare industry is poised for remarkable growth, with a projected CAGR of 4.8% expected from 2023 to 2030 in the sun care products market.
Regional markets in the Asia Pacific have emerged as the fastest-growing sun care products market, poised to witness the highest CAGR. This remarkable growth can be attributed to a key factor, namely the chemical industry expansion in countries such as India and China.
A comprehensive analysis of the major players in the sun care products market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Sun Care Products Market
In 2022, Clarins took a significant step towards transparency and product traceability by launching a blockchain-based platform. This innovative move allowed the company to provide customers with complete visibility into the origins of the components used in their new products and the entire manufacturing process. By leveraging blockchain technology, Clarins aimed to enhance trust and credibility in the beauty industry by ensuring that consumers could easily access detailed information about the products they use.
In 2022, a collaboration between Nykaa and Estee Lauder introduced "Beauty & You India," a platform poised to bring the next wave of beauty brands to the Indian market. Suncare products stood out as a key focus area among the product offerings featured on this platform.
Key Questions Answered in Sun Care Products Market Report
What specific growth drivers are projected to impact the market during the forecast period?
List the top companies in the market and explain how they have achieved their positions of influence.
In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Cosmetic Packaging Market
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