According to a recently revised report by Fact.MR, a market research and competitive intelligence provider, demand for sun protection products will surpass a valuation of US$ 15.3 Bn in 2021, rising at a CAGR of around 6.6% through the end of 2031.
Sun care products are useful to avoid the harmful effects of UVA & UVB rays. This is a prominent segment in the personal care industry. With rising need to protect oneself intensified UV rays and sunburn, especially during the summers, along with changing climatic conditions and increase global warming, demand for sun protection products market will see a surge over the coming years.
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Key Takeaways from Market Study
- The global sun protection products market is likely to create an incremental opportunity worth US$ 1.5 Bn through 2031.
- Sun protection products between SPF (sun protection factor) 30 to 60 are expected to gain higher demand over the coming years.
- Growing awareness of consumers about skincare is likely to positively impact demand for sun protection products at a high pace.
- Demand for natural indigent-based sun protection products is also expected to increase owing to growing concern about chemical allergies.
- Globally, pollution, changing external environment, and depletion of the ozone layer have become serious issues, and the number of people suffering from skin ailments has also increased drastically.
- The after sun care segment currently holds a significant share in the global sun protection products market, which is pegged to reach 24.1% in 2021, and the segment is expected to expand at the rate of 7.4% in terms of value.
- The zinc oxide segment currently holds a significant market share, which is pegged to reach 31.5% in 2021, and expand at the rate of 6.5% in terms of value.
“Manufacturers have started making products that are organic/natural and have absolutely no harmful effects on the human body or the environment. Companies have adopted various marketing strategies that include interactive packaging and graphic designs to gain a larger customer base,” said a lead analyst at Fact.MR.
Segmentation of Sun Protection Products Industry Research
By Product Type:
- Sun Care Products
- After Sun Products
- Self-Tanning Care Products
- Sun Care Products
- Sun Protection Creams
- Sun Protection Gels
- Sun Protection Lotions
- Sun Protection Powder
- Sun Protection Wipes
- Sun Protection Sprays
- Sun Protection Natural Oils
- Other Forms
- Ecamsule-based Sun Protection Products
- Avobenzone-based Sun Protection Products
- Oxybenzone-based Sun Protection Products
- Titanium Dioxide-based Sun Protection Products
- Zinc Oxide-based Sun Protection Products
- Natural Oils
- Raspberry Seed Oil
- Wheat germ Oil
- Avocado Oil
- Hazelnut Oil
- Carrot Seed Oil
- Other Suncare Natural Oils
By Packaging Type:
- Sun Protection Sticks
- 10 – 20 grams
- >20 grams
- Sun Protection Tubes
- <50 grams
- 50 grams – 100 grams
- 101 grams – 200 grams
- >200 grams
- Bottle Packaging for Sun Protection Products
- 50 ml – 100 ml
- 101 ml – 200 ml
- 201 ml – 300 ml
- Other Packaging Types
- Sun Protection Sticks
By Customer Orientation:
- Sun Protection Products for Males
- Sun Protection Products for Females
- Unisex Sun Protection Products
By Sales Channel:
- Modern Trade of Sun Protection Products
- Sun Protection Products Sold at Convenience Stores
- Sun Protection Products Sold at Departmental Stores
- Sun Protection Products Sold at Professional Salons
- Sun Protection Products Sold at Drug Stores
- Sun Protection Products Sold at Specialty Stores
- Online Sales of Sun Protection Products
- Other Sales Channels
Sun care product suppliers are focusing on strengthening their online presence and spending on research & development (R&D) to strengthen their footprint
Multinational sun protection product companies are focusing on expanding their manufacturing facilities and acquiring local players in order to diversify their product offerings.
- L’Oréal S.A. is the leading player which holds 17% market share of the total sun protection products market. The company focuses on developing disruptive scientific and technological innovations in every cosmetics category. Company research & innovation regarding hair care products will rise as it strives to meet consumer expectations.
- R&D capabilities of Johnson & Johnson Services, Inc. and Procter & Gamble Company has made them top competitors in the sun protection products market. Company business model relies on continued growth and innovation of product & brands, as well as creation of new innovative products.
- Japanese company Shiseido Co., Ltd also holds a significant share in the overall market. The company established VISION 2020 strategy in the year 2018 to rebuild the business foundation and thoroughly resolve structural issues of business in Japan and overseas. Also, the company’s ‘prestige first’ strategy focuses on 4 new brands.