- In terms of revenue, Europe accounts for the second spot in the global sun care products market.
- The launch of multi-purpose sun care products is expected to drive market growth during the forecast period of 2018 to 2023.
- Global sun care products market has been segmented, by form, into creams & lotion, gels, powder, sprays, and others.
Sun care products absorb, reflect, or scatter the harmful ultra-violet (UV) rays of the sun and thus protect the surface on which they are applied. These products are available in different forms including cream, gel, lotion, swipes, and others. The introduction of natural ingredients in sun care products is an emerging trend in the Sun Care Products Market that is driving the market growth. The market players are focusing on product innovation as one of their main strategy to gain a competitive edge in the global market.
Based on type, the global sun care products market has been segmented into sun protection products, after sun products, self-tanning care products, and others.
The sun protection products segment gained the highest market share in 2017 and is expected to grow at a higher rate during the forecast period owing to the rising awareness among consumers regarding the benefits of sun protection products.
These products protect the skin form the harmful rays of sun such as UVA and UVB that can cause tanning, ageing, and cancer.
The global sun care products market has been segregated, by form, into creams & lotion, gels, powder, sprays, and others. The creams segment is expected to dominate the global sun care products market during the assessment period as they are an easy to apply and convenient nourishing solution. However, the lotion segment is anticipated to register a higher growth rate during the forecast period due to the surging demand from customers.
The global market for sun care products has also been classified, by end-use, as skin care, hair care, and others. The skin care segment is expected to dominate the market due to the surging incidences of skin cancer across the globe. In addition, the rising demand for anti-ageing products among the customers is also fueling the demand for sun care products in the skin care segment. The same segment is anticipated to witness a higher growth rate due to the rising awareness regarding the harmful effects of UV rays on the skin.
The global market for sun care products has also been classified, by distribution channel, as store based and non-store based. The store based segment is expected to account for a major share in the global sun care products market due to the higher penetration of such products in the brick & mortar stores. However, the non-store based segment is anticipated to project a higher CAGR during the forecast period owing to the surging trend of online shopping, especially among the working population.
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Some of the key players in the global sun care products market are
- Beiersdorf AG (Germany)
- Groupe Clarins (France)
- Johnson & Johnson (the US)
- Coty Inc. (the US)
- Shiseido Co. Ltd. (Japan)
- L’oreal (France)
- Bioderma Laboratories (France)
- The Estée Lauder Companies Inc. (the US)
- Burt’s Bees (the US)
- Unilever (UK)
On the basis of region, the global sun care products market has been segmented by North America, Europe, Asia-Pacific, and RoW. North America is expected to gain the lion’s share in the global sun care products market owing to the surging demand of anti-ageing products in the region. In addition, the presence of major market players in North America is also catalyzing the region’s growth in the global sun care products market.
The sun care products market in Asia-Pacific is expected to exhibit the highest CAGR due to the changing lifestyle and rising disposable income of the people in Asia-Pacific. Moreover, the region’s growth can also be attributed to the rising awareness among the populace regarding the harmful effects of UV rays on the skin.