Sun Protection Products Market Overview:
Sun protection products are also popularly known as sunscreen or sunblock. These products are formed to help the skincare protecting it from Ultraviolet (UV) radiation, which leads to sunburn, tanning, and skin cancer. Over the last few years, the awareness of the harmful effects of UV rays has risen dramatically. Terms such as Sun Protection Factor (SPF), which define a product’s ability to screen or block out the sun’s burning rays and ‘ultraviolet B-rays (UVB rays), have become familiar.
Also, UV / UVB radiations cause the skin to go brown, burn it, make it look older, and can even cause skin cancer. They say, over 90 percent of skin aging comes from sun damage. Therefore, SPF and sun protection has become paramount in any skincare routine and become well regarded in today’s eco-chic sun care space. As a cumulative effect of these, the sun protection products market is invariably garnering tremendous traction on a global platform.
According to Market Research Future (MRFR), the global sun protection products market is estimated to create a valuation of USD 11,002.34 MN by 2025. MRFR also asserts that this rise in the sun protection products market size would be registered at 5.31% CAGR during the forecasted period (2019 – 2025). Rising per-capita expenses for wellness and influence of media & fashion industries are the two major factors that are impacting the market growth, positively.
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Additionally, faster adoption of these products, alongside the burgeoning personal care industry and the growing number of wellness clinics, are increasing the sun protection products market share on a global level. The market is exploding with constant product developments and innovative promotional strategies. Inspired by changing consumer demand, manufacturers bring new formulations & variations in their products, such as oxybenzone-free, organic sun care formulas, and others.
They bring-in new market trends such as organic and natural ingredients, incorporating antioxidant-rich plant protection into their sun-care products. To naturally boost the efficacies of their formulas, they use plant-based ingredients, including Algae, Red Raspberry Seed Oil, and others. With their increasingly transparent approach, these players influence consumer expectations and slice-out a substantial market share for themselves.
Such product development strategies increase the sun protection products industry’s worth, significantly. On the other hand, harmful side effects of chemicals used in sun protection products are hampering the market growth. Chemicals such as oxybenzone, octinoxate, homosalate, and titanium dioxide are extensively used in sunscreen products.
These chemicals can not only be harmful to humans but can also cause hormone disruption, endocrine disruption, organ system toxicity, and contact allergies. Nevertheless, the emergence of natural or plant-based ingredients products would support market growth throughout the assessment period.
Industry/ Innovation/ Related News:
November 14, 2019 — SC Johnson (the US), a leading global manufacturer of personal care products, declared about their acquisition of a majority stake in a leading sun care brand in the US – Coola. SC Johnson has bought two sun care businesses and a men’s skincare line this year, bringing the number of brands in its lifestyle category up to 8. In June, SC Johnson acquired the Sun Bum brand, comprising product portfolio sun care, hair care, and lip care. These acquisitions are welcome additions to the company’s portfolio of trusted products and expand its robust selection of fast-growing, on-trend products.
Sun Protection Products Market – Segments
MRFR has segmented the market into four main dynamics to widen the scope of understanding,
By Form : Gel, Lotion, Cream, and others.
By SPF Range : SPF 15, SPF 30, SPF 50, SPF 70, and others.
By Distribution Channel : Store-based (Supermarkets & Hypermarkets, Convenience Stores, others), Non-Store—based, and others.
By Regions : Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.
Sun Protection Products Market – Regional Analysis
Europe dominates the global sun protection products market, both in terms of value and volume. The large user base of sun protection products, which is the largest in the world, is a key growth driver for the growth of the regional market. France, Italy, and Spain are the major countries in the region exhibiting rising demand for sun protection products. The presence of major sun protection products manufacturers is another key growth driver pushing the sun protection products industry sales in the region.
North America possesses a considerable share in the global sun protection products market. Factors such as high per-capita wellness budgets, the significant influence of media & fashion industries, and the presence of large players are driving faster adoption of sun protection products. Besides, the expanding personal care industry and the growing number of wellness clinics are fostering the North American sun protection products market, hugely.
The sun protection products market in the Asia Pacific is expected to be highly lucrative for market players, growing briskly. Factors such as spreading awareness towards skin protection against UV rays and the high number of skin cancer cases drive the growth of the regional market. Australia and India are the leading country-level markets, which are estimated to acquire the largest share in the regional market during the review period. The APAC sun protection products market is projected to register a growth rate of 5.49% over the forecast period.
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Sun Protection Products Market – Competitive Analysis
Highly competitive, the sun protection products market appears to be fragmented due to the presence of many notable players. Consumer’s preferences and demands are constantly changing, and surprisingly, manufacturers can meet their requirements every-time. They are ever ready to supply their demand, such as products with herbal & natural ingredients, with high SPF protection that can hold up through sweat, swimming, and sports, etc. The sun protection products industry is ready to invest time & money for further required R&D & formulation work. Many vendors are also trying to expand their business by entering new geographies like Latin America, Africa, and APAC.
Players leading the global sun protection products market include L’Oreal S A (France), Johnson & Johnson Services, Inc. (US), The Estée Lauder Companies Inc. (US), Shiseido Co. Ltd. (Japan), Revlon, Inc. (US), Avon Products, Inc. (UK), Amway (US), Groupe Clarins (France), Lotus Herbals Pvt. Ltd. (India), Beiersdorf AG (Germany), Edgewell Personal Care Company (US), Unilever (UK), and Procter & Gamble Company (US), among others.
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