Global Sun care Products Market

Global Sun Care Products Market Size, Share, Growth Analysis, By Distribution Channels(Hypermarket, Drug Store), By Form(Spray, Lotion) - Industry Forecast 2024-2031

Report ID: SQMIG30L2193 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 64 | Figures: 77

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Global Sun Care Products Market size was valued at USD 11.66 billion in 2022 and is poised to grow from USD 12.17 billion in 2023 to USD 17.18 billion by 2031, growing at a CAGR of 4.40% during the forecast period (2024-2031).

A few well-established firms and medium-sized players dominate the market for sun care goods. The introduction of new products is one of the industry's top strategic goals. 'L'Oréal (France)', 'Beiersdorf AG (Germany)', 'Johnson & Johnson (United States)', 'Estée Lauder Companies Inc. (United States)', 'Shiseido Co., Ltd. (Japan)', 'Procter & Gamble Co. (United States)', 'Unilever PLC (United Kingdom/Netherlands)', 'Colgate-Palmolive Company (United States)', 'Coty Inc. (United States)', 'Avon Products, Inc. (United Kingdom)', 'Mary Kay Inc. (United States)', 'Amway Corporation (United States)', 'Natura & Co Holding S.A. (Brazil)', 'Clarins Group (France)', 'Revlon, Inc. (United States)', 'Kao Corporation (Japan)', 'Chanel S.A. (France)', 'Estée Lauder (United States)', 'Bioderma (France)', 'La Roche-Posay (France)', 'Neutrogena Corporation (United States)', 'Hawaiian Tropic (United States)'

Due to rising health and beauty concerns, suncare products are becoming more and more popular with customers, especially adults and millennials. Because of urbanization, shifting consumer lifestyles, and rising per capita income, they are gaining traction in emerging countries. In poor countries, people are prepared to spend on such personal care and cosmetic products. Consumers' growing awareness about skin cancer is one of the key reasons anticipated to drive the market. According to "The Skin Care Foundation," more than 9,500 people in the United States receive a skin cancer diagnosis each day, and more than two people pass away from the disease every hour. Around USD 8.1 is spent a year in the US on treating skin cancer. This has engendered a severe concern about skin cancer among people in North America and other regions as well, which has led to a need for suncare products.

Suncare product manufacturers are investing in research and development to introduce innovative formulations with improved sun protection factors (SPF), water resistance, and longer-lasting effects. Companies are also focusing on developing broad-spectrum sunscreens that protect against both UVA and UVB rays.

The market's largest contributor, North America, is anticipated to expand at a CAGR of 37.20% over the forecast period. Because consumers are becoming more aware of the importance of practicing skin protection, there is a significant demand for sunscreen and SunCare products in North America. In the North American continent, people are affected by skin cancer and skin ageing issues. One in five Americans will be diagnosed with skin cancer by the time they are 70, according to "The Skin Cancer Foundation." White people frequently experience skin ageing and skin cancer. Comparatively speaking, skin cancer cases among Asians or Blacks are lower. Residents of North America now have a greater need for skincare products as a result.

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