FMI anticipates that the sun care products market is expected to reach a valuation from USD 13.6 billion in 2023 to USD 25.3 billion by 2033. The market is anticipated to record an average CAGR of 6.4% during the forecast period.
Influencing Factors in the Market are as follows:
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According to a survey conducted in the United Kingdom, 54 percent of millennials are turning toward simplified skincare routines. They are looking for a sustainable solution for their skin with transparency in the product ingredients.
To meet consumers' requirements, top manufacturing companies are offering valuable and minimalist skincare products. The leading companies interact with their customers, gathering feedback, learning about their preferences in products, and other ways to sustain their brand value.
Millennials tend to spend more on reliable, convenient, and effective sun care products. Therefore, to provide better and organic products, manufacturers are focused on limiting carbon footprints by using organic cosmetic ingredients.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 6.4% |
| Market Valuation (2023) | USD 13.6 billion |
| Market Valuation (2033) | USD 25.3 billion |
According to Future Market Insights, the global sun care products market registered a healthy 6.4% CAGR during the forecast period. Historically, the market registered a CAGR of 4.3% between 2018 and 2022.
The rapidly growing cosmetic sector is attracting consumers to maintain their skin routine. Consumers are concerned about their health and naturally breathing skin. At the same time, they are focusing on natural ingredients that are used in it.
Manufacturers have made several changes in the last few decades to advance market growth. The manufacturers provide fresh, natural, and non-toxic products to their consumers. But, they also use potentially toxic ingredients in their products, which might harm the skin in the long run, slowing down the market expansion in the coming years. Nowadays, companies seek to manufacture innovative products without side effects as the market is highly competitive.
The market is estimated to reach USD 25.3 billion during the forecast period. Historically, the market reached a valuation of USD 12.9 billion from 2018 to 2022.
Principal Consultant
| Segments | Product Type |
|---|---|
| Top Categories | Self Tanning Products |
| Market Share | 49.9% |
| Segments | Packaging Format |
|---|---|
| Top Categories | Tubes |
| Market Share | 42.8% |
Based on product type, self-tanning products are likely to capture a significant share of 49.9% during the forecast period. The increasing consumers' awareness of healthy skin in the long term and reduced excessive sun exposure are rising the demand for self-tanning products. The UV rays and excess sun exposure increases skin disorders such as damage, scars, and skin cancer. However, consumers' rapidly increasing adoption of self-tanning products is crucial in limiting widespread UVB & UVA exposure.
Based on the packaging format, tubes are leading the global market and are expected to reach a market share of 42.8% by 2033. Cosmetic manufacturers prefer tube packaging format to provide their products to their customers. These tubes are easy to store, reliable, and convenient for storing cosmetic products such as cream, lotion, foundation, and face wash.
The manufacturers develop these tubes with high-quality material that enhances the product quality and shelf-life. The innovation of paper tube packaging is 100% recyclable and eco-friendly, reducing carbon footprints. Several top companies are adopting these packaging methods by replacing plastic packaging during the forecast period.
Based on age, adult people are likely to hold a significant market share of 79.2% by 2033. The increasing skin issues among people, including premature aging, wrinkles, and sunburn, are rising adults' demand for SPF & UV protection sun care products. Suncare products reduce skin cancer, leathery skin, and inflammation. Therefore these products are highly preferred by adult group people.
Based on sales channels, online retailing is dominating the global market by securing a significant share by 2033. Customers are fond of buying products through online platforms. The top companies sell their products online to acquire maximum profits.
| Countries | Share |
|---|---|
| United States | 81.1% |
| India | 27.3% |
| China | 42.6% |
| Germany | 16.6% |
| Japan | 33.1% |
| Australia | 57.8% |
During the forecast period, India is estimated to capture a share of 27.3% of the global market. The growing cosmetic industry and skin disorders are advancing the market in the country. In addition, the availability of raw materials, growing urbanization, and changing consumers' lifestyles drive India's sun care products market growth.
Manufacturers are developing products for all skin consumers to reduce infection, skin damage, and other skin-related problems. During summer days, the explosion of sun rays affects the skin, such as rashes, tanning, and allergies are fueling the market in India.
China is estimated to capture a share of 42.6% of the global market by 2033. The increasing demand for organic sun care products among consumers is bolstering the market in China. Cosmetic manufacturers innovate new products that are 100% natural without toxicity to maintain the skin's pH level with organic ingredients. In addition, consumers prefer clean labels and synthetic products that increase sun care sales.
China's market is being driven by expanding online marketing on social media to educate consumers about the product. Adopting sun care products enhances skin tone, appearance, and texture. In addition, the popularity of vegan-based products attracts consumers due to their natural properties, which on the other hand, is fueling the sun care products market in China.
The United States is dominating the global market by capturing a share of 81.1% by 2033. The increasing innovation in cosmetic products in the United States towards personal and beauty care is fueling the market size. The United States sun care products market is also driven by social media influencers, bloggers, and online distribution channels.
According to the American Academy of Dermatology, more men maintain their skin routine than women. Due to their thicker and more sensitive skin, they prefer sun care products. The research found that UV rays damage men's skin more than women's.
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The prominent players play a crucial role in the global market. These players are focused on consumers' requirements and provide quality products to enhance their brand value. The key players invest millions of dollars in research & development activities to acquire significant revenue in the market. In addition, they are innovating unique products per consumers' requirements by adopting advanced technologies.
Deep market analysis by a well-known player results in solutions that propel the market to new heights. Mergers, acquisitions, collaborations, product launches, partnerships, and agreements are a few marketing strategies.
Recent Developments in the Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa |
| Key Segments Covered | Product Type, Packaging Type, Age, Nature, Sales Channel, Region |
| Key Companies Profiled | Estee Lauder Companies, Inc.; Coty, Inc.; Revlon, Inc.; Clarins Group; Clinique Laboratories, Inc.; Natura & Co.; Amway Corporation; Shiseido Company, Limited; AmorePacific Corporation; Revlon, Inc.; Kiehl’s LLC; Others (On Request); Beiersdorf AG; The Procter & Gamble Company; Unilever PLC; L’Oreal Group |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 13.6 billion in 2023.
The growth potential of the sun care products market is 6.4% CAGR through 2033.
Growing demand for organic variants and surging skin-related issues are catalyzing market growth.
The market expanded at a CAGR of 4.3% in the historical period.
The leading market competitors are Estee Lauder Companies, Inc., Coty, Inc., and Revlon, Inc.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 5.1. Cream 5.2. Gel 5.3. Lotion 5.4. Liquid 5.5. Sprays 5.6. Lip Balm 5.7. Wipes 5.8. Sticks 5.9. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By SPF 6.1. SPF 6-14 6.2. SPF 15-29 6.3. SPF 30-50 6.4. SPF 50+ 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Price Category 7.1. Premium 7.2. Standard 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Shiseido Co., Ltd 16.2. La Roche-Posay 16.3. Coppertone 16.4. Banana Boat 16.5. BullFrog 16.6. Blue Lizard 16.7. Fresh LLC 16.8. SkinCeuticals 16.9. Vertra 16.10. KINeSYSs Performance Sunscreen 17. Assumptions & Acronyms Used 18. Research Methodology
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Sun Care Products Market
