Transparency Market Research delivers key insights on the global sun care market. In terms of revenue, the global sun care market is estimated to expand at a CAGR of 5.6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global sun care market.
Companies are investing in R&D to launch an exclusive collection of sun care. Manufacturers are expanding their product lines to cater to the increasing demand for sun care. Moreover, growing popularity of sun care products owing to an increase in awareness about skin issues due to adverse effects of sunrays is expected to boost the market during the forecast period.
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Sun Care Market: Key Segments
In terms of form, spray and lotions segments are expected to lead the global market. The personal care industry, as a whole, witnessed substantial growth. Lotion and sun protection sprays are the preferred choice of professional sportspersons, athletes, swimmers, etc. Cream, spray, and lip balm segments are also anticipated to expand at a significant growth rate during the forecast period.
Based on SPF, the SPF 50+ segment is expected to lead the global market, in terms of revenue generation and units sold, followed by the SPF 30-50 segment. They are estimated to maintain their dominance during the forecast period. SPF 50+ sunscreen protects the skin from sunburn-causing UVB rays as well as the UVA rays, which leads to premature skin wrinkling and ageing. Thus, the SPF 50+ segment is expected to expand at a higher growth rate during the forecast period.
In terms of sports type, the extreme outdoor segment leads the global market. Sportspersons who are involved in extreme outdoor sports such as athletics, beach volleyball, mountain biking, rappelling, rock climbing, cycling, other outdoor sports, etc., utilize sports sun care products very frequently; hence, the demand for sun care products is increasing and is expected to increase during the forecast period.
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In terms of price range, the medium segment is estimated to expand at a notable CAGR during the forecast period, as Asia Pacific, Middle East & Africa, and South America witness high demand for medium priced sun care products.
Sun Care Market: Prominent Regions
Asia Pacific dominated the sun care market and is estimated to expand at a rapid pace than any other region in the near future due to increase in disposable income, rise in standard of living, and surge in awareness about sun care products. The market in North America and Europe is also expanding, while the market in MEA and South America is anticipated to expand at moderate growth rate during the forecast period.
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Sun Care Market: Key Players
Key players operating in the global sun care market are Shiseido Co., Ltd, La Roche-Posay, Coppertone, Banana Boat, BullFrog, Blue Lizard, Fresh LLC, SkinCeuticals, Vertra, and KINeSYSs Performance Sunscreen.
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