Sun Care Market Growth, Trends | Industry Report, 2023

The global sun care market is prognosticated to witness significant growth in the span of coming years. The exceptional growth rate of the global sun care market, along with the emergence of huge scope of opportunities has propelled the advent of huge range of small-scale and product manufacturers. This has majorly stiffened the market competition. This in general signifies a focused competitive scenario with some of the global players leading the key positions. Nevertheless, significant names in the global sun care market are Unilever, Johnson and Johnson, Beiersdorf AG, Shiseido Company Ltd., Bioderma Laboratories, Groupe Clarins, Coty Inc., L’Oreal, Burt’s Bees, and Estee Lauder. These firms account for major share owing to the brand value, coupled with the steady comprising of innovative items in their product portfolios.

According to the recent report by Transparency Market Research (TMR), the global sun care market is expected to expand at a steady CAGR of 5.8% within the forecast period 2016 to 2024. The sun care market is anticipated to be valued around worth of US$24.9 bn by the end of 2024. The figure in 2015 was around worth US$14.8 bn.

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On the basis of type, the global sun care market is classified as self-tanning, and after sun. Among these, in 2015, the sun protection products segment held the maximum share in the global sun care market and is foreseen to grow within the forthcoming years. Moreover, the segment of after sun products are estimated to depict an elevated CAGR in the upcoming years. Geographically, North America accounted for the maximum share of global sun care market in 2015. It held around 35% of entire revenue produced by the market, annually. Moreovre, the region is also estimated to sustain its lead in the forthcoming years as well owing to consistently growing demand regarding sun care products and rise in disposable income of the people in the mentioned region.

The information Presented in this Review is Based on Press-Release by TMR

  • Surged Concerned Regarding Sun Protection to Support Market Demand

Over the most recent few years, sun care products have moved from solely being intended for skincare to being a multifunctional marvel item. This is one of the essential components empowering development in the global sun care item market. In addition, the immense surge in popularity of strong sun care items has tempted market players to expand finances coordinated towards the innovative work of ingredients, novel plans, and simple to-apply item varieties. The surge in research and advancement activities have consequently stimulated the improvement of multi-useful sun care details and sun protected items with natural drugs.