Market Overview:
Throughout history, sunscreens have been employed with various methods to mitigate such exposure. In the last century, heightened awareness about sun-related risks spurred substantial advancements in science, technology, and formulation of sun care products. Government health agencies are promoting sunscreen use to combat the rising cases of UV-induced melanomas, exacerbated by recreational sunbathing and artificial tanning.
The sun care industry encompasses establishments primarily engaged in retailing sun protection, after-sun care, and self-tanning products. These products span different segments designed to either reflect or absorb solar ultraviolet radiation. Despite a decline of approximately $600 million in revenue, amounting to $9.3 billion, in 2020 attributed to the Covid-19 pandemic and related restrictions, the Statista Consumer Market Outlook predicts a resurgence in revenue from 2021 onwards. By 2025, the global sun care market is projected to reach $12.5 billion, reflecting an upward trajectory in response to increasing consumer awareness and the pursuit of sun protection.
Top Key Players for Sun Care Products Market:
L`Oréal S.A, Unilever, DSM, Avon Products Inc., Coty Inc., Beiersdorf AG, Blistex Inc., Clarins Group, Edge well Personal Care Company, Shiseido Company Ltd, Johnson Johnson, The Estée Lauder Companies Inc., Neutrogena Corporation, Walgreens Boots Alliance, Kao Corp, Symrise AG, Procter Gamble Co., Natura CO., Bayer Healthcare and Others Major Players.
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Market Dynamics and Factors for Sun Care Products Market:
Drivers:
Rise in The Awareness of UVA Ray Damage and The Adoption of Nanotechnology-Driven Formulations
The surge in customer awareness about the vital importance of comprehensive sun care, driven by a growing understanding of UVA ray damage, particularly the fact that UVA rays constitute 90% of skin-reaching rays and are responsible for 80% of skin aging, is expected to propel the sun care products market's growth. Additionally, the integration of nanotechnology, exemplified by nanoparticles of titanium dioxide or zinc oxide for improved application and reduced residue, supports user preferences for safety, efficacy, and sensitivity, contributing to increased adoption and efficacy within the forecast period.
Opportunities:
Leveraging the Substantial Global Baby- And Child-Specific Beauty and Personal Care Market
Capitalizing on the global baby- and child-specific beauty and personal care market's potential, which was valued at over $15 billion in 2013 with sun care accounting for only 5%, presents a significant opportunity for baby- and child-specific sun care brands to seize a larger share by appealing to parents' innate desire to safeguard their children's well-being; especially considering the 13 markets where these products already generate more than $50 million, suggesting a considerable avenue for growth within this niche.
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Segmentation Analysis of the Sun Care Products Market:
By Product Type, sun protection products are poised to hold the highest market share during the forecast period, particularly with growing preferences for SPF-15-29, SPF-30-50, and SPF-50 variants; e-Commerce sales are also expected to rise despite concerns about UV ray exposure due to travel limitations.
By Form, the cream segment is projected to dominate, accounting for over 50% of the market share, driven by the importance of skin nutrients and active ingredients, with significant demand in North America and Europe.
By End-User, the female segment is expected to capture the maximum market share, driven by cultural influences; however, evolving consumer preferences are leading key players to cater to men and millennials seeking personal care and cosmetic products.
By Product Type
- Sun Protection Product
- After Sun-Products
- Self-Tanning Products
By Sun Protection Factor
- 15-29
- 30-50
- 50
By Distribution Channel
- Hypermarkets/Supermarkets
- Specialty Store
- Convenience Store
- Pharmacy Stores
- Online Sales
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Regional Analysis of the Sun Care Products Market:
North America is poised to lead the market, driven by a rising inclination toward organic sun care products and meticulous label scrutiny by consumers in the US and Canada. In this competitive landscape, augmented by private-label brands, key players employ pricing and brand loyalty strategies, offering multi-functional anti-aging formulations.
While the Asia Pacific market for sun care products faces short-term challenges, it is anticipated to grow steadily. Cultural influences favor sun care products with skin whitening attributes, offering potential opportunities for regional producers.
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In January 2021, Symrise AG declared that it has signed an agreement to make a strategic investment in Kobo Products Inc., a powder and dispersion specialist for the beauty industry. Symrise considers the investment a strategic step to build its activities into inorganic UV filters and decorative cosmetics. Symrise will purchase a 25 % stake and agreed with Kobo on the future disposition of shares of Kobo´s capital stock and the governance of Kobo.
In November 2020, Cetaphil introduced its latest Sun Range. The selection attributes a Cetaphil Sun SPF 50+ Light Gel (50 ml) and a Cetaphil Sun SPF 30+ Light Gel (100 ml).
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