SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ -- The global sun care products market is expected to reach USD 14.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.0% from 2021 to 2028. Sun care products are gaining popularity among consumers owing to the rising awareness of the effects of UV rays on the human skin. Moreover, consumers' concerns about the signs of skin aging due to increased sun exposure are expected to drive the market.
Key Insights & Findings:
The adult sun cream segment dominated the market and accounted for a 69.4% share of the overall revenue in 2020. Increasing trend of tan lines without actually going out in the sunlight is expected to drive the market
In terms of distribution channel, the hypermarket and supermarket segment accounted for a 48.5% share of the overall revenue in 2020
Europe held the largest revenue share of 35.1% in 2020, due to growing awareness among consumers in the region regarding the benefits of using sunscreen products
Product innovation and new launches emerged as the key strategy deployed by majority of market players to stay abreast of the competition
The adult sun cream held the largest revenue share in 2020 and is expected to maintain its dominance over the forecast period. Sun cream for adults is used to prevent the skin from sunburn and early signs of aging such as wrinkles and leathery skin. The ability to protect against a high risk of skin cancer, skin discoloration, and inflammation is expected to improve sales in the coming years.
The hypermarket and supermarket segment held the largest revenue share in 2020 and is expected to maintain dominance over the forecast period. A large number of consumers prefer buying sunscreen products from hypermarkets and supermarkets due to the shopping experience offered by these stores. The ability to physically verify these products, along with expert assistance, is another major factor contributing to this distribution channel's growth.
Europe made the largest contribution to the global market in 2020. Rising awareness among consumers regarding the harmful effects of prolonged sun exposure on the skin has helped boost product demand across the region. Furthermore, an increasing number of products that offer various additional benefits such as dark spot reduction, anti-aging have further fueled product demand.
The market is fragmented in nature, with the presence of a large number of global and regional players. Beiersdorf AG, Groupe Clarins, Johnson & Johnson, Coty Inc., Shiseido Co. Ltd., L'oreal, The Estee Lauder Companies Inc., Burt's Bees, Bioderma Laboratories, Unilever are among the prominent players in the global market.
Grand View Research has segmented the global sun care products market on the basis of product, distribution channel, and region:
Sun Care Products Outlook (Revenue, USD Million, 2016 - 2028)
Adult Sun Cream
Baby Sun Cream
Fake Tan/Self Tan
Sun Care Products Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
Hypermarket & supermarket
Pharmacy & drug store
Sun Care Products Regional Outlook (Revenue, USD Million, 2016 - 2028)
Central & South America
Middle East & Africa
List of Key Players of Sun Care Products Market
Johnson & Johnson
Shiseido Co. Ltd.
The Estee Lauder Companies Inc.
Check out more studies related to personal care products, conducted by Grand View Research:
Anti-Wrinkle Products Market– The global anti-wrinkle products market size is anticipated to reach USD 29.77 billion by 2025. It is projected to witness a CAGR of 5.7% from 2019 to 2025.
Organic Personal Care Ingredients Market– The global organic personal care ingredients market demand is estimated to reach USD 12.4 billion by 2027. Rising demand for personal care, coupled with growing awareness regarding personal health and safety, is expected to drive the product demand.
Baby Care Products Market– The global baby care products market size is expected to reach USD 25.4 billion by 2028. It is expected to expand at a CAGR of 4.3% from 2021 to 2028.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.