Sun Care Products Global Market Report 2023

NEW YORK, March 1, 2023 /PRNewswire/ -- Major players in the sun care products market are L'Oreal SA, Johnson & Johnson, Procter & Gamble Company, Beiersdorf AG, Coty Inc., Shiseido Company Ltd., Estee Lauder Companies, Bioderma Laboratories, Burt's Bees, Unilever plc, Kao Corporation, Bayer AG, Walgreens Boots Alliance Inc., Weleda AG, Mary Kay Inc., Amorepacific Group Inc., and Natura & Co.

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The global sun care products market grew from $12.96 billion in 2022 to $13.85 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The sun care products market is expected to grow to $17.19 billion in 2027 at a CAGR of 5.5%.

The sun care products market consists of sales of mineral and chemical sunscreens.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Sun care products refer to sunscreen products that come in a variety of formats, including creams, lotions, lip balms, hair tonics, and gels.Some or all of the sun's rays are absorbed, reflected, or scattered by the active components.

Sun care products are used to protect the skin from the sun's harmful UV radiation.

Europe was the largest region in the sun care products market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the sun care products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of sun care products are self-tanning products, after-sun products, and sun protection products.Self-tanning sun care products refer to a product that is put on the skin and reacts chemically with the skin's surface layer, giving the appearance of a suntan and darkening the skin.

These products are used by male, female, and unisex and sold thorough hypermarkets or supermarkets, specialty stores, online stores, and other distribution channels.

The growing demand for organic and natural personal care products is expected to propel the growth of the sun care products market going forward.Organic products do not include harsh chemicals, they are produced using organic ingredients.

Due to the various advantages of organic products, the demand for organic sun care products is expected to rise in the market. For instance, in January 2020, according to a survey conducted by BioMed Central, a UK-based scientific journal published, from a survey conducted among 500 individuals, this survey found a significant 80.2% prevalence of using herbal products. Moreover, according to an article published by World Health Organization, a Switzerland-based international organization responsible for public health, according to estimates, traditional medical practices like herbal remedies, acupuncture, yoga, indigenous therapies, and others are used in 88% of all countries. Therefore, the growing demand for organic and natural personal care products is driving the demand for the sun care products market.

Product innovations have emerged as the key trend gaining popularity in the sun care products market.Major companies operating in the sun care products market are focused on developing new and innovative products to strengthen their market position.

For instance, in January 2021, Shiseido Company Limited, a Japan-based cosmetic company, launched ANESSA, a brightening UV sunscreen gel.It consists of titanium dioxide and zinc oxide, providing optimum protection according to the brand's unique Smooth Protect Technology.

When the applied sunscreen is warmed by heat, such as from the sun, the Smooth Protect Technology boosts the effect of UV protection by spreading the UV protection ingredient uniformly in a film coating.The thinner composition combats the dreaded white or purple cast, leaving a silky-smooth finish that is nearly unnoticeable on the skin.

The smooth protection technology is the latest in a line of innovative sun protection technologies developed by Shiseido.

In December 2021, Blackstone Inc., a US-based investment management company acquired a majority share in Supergoop! for an undisclosed amount. With the acquisition, Supergoop!'s commitment to launch category-creating innovations, drive consumer behavior change through education and best-in-class brand marketing, and expand the company's national and global reach will be fueled. Supergoop! is a US-based manufacturer of skincare products.

The countries covered in the sun care products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The sun care products market research report is one of a series of new reports that provides sun care products market statistics, including global market size, regional shares, competitors with a sun care products market share, detailed sun care products market segments, market trends and opportunities, and any further data you may need to thrive in the sun care products industry. This sun care products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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