The global sun care market is poised to expand at a 5.8% CAGR during the forecast period, rising from a value of US$14.8 bn in 2015 to US$24.9 bn by 2024.
Albany, NY -- (SBWIRE) -- 06/14/2018 -- Sun care products are products that are in the form of cream gel lotion and sprays among others which are used to protect against harmful rays of the sun (UV rays) thus avoiding sunburn. Skin whitening products have sun protection in them as fairer skin is more vulnerable to sun burn than darker skin tone. Sun care products helps prevent skin cancer types like squamous cell carcinoma and melanoma among others. Everyday application of these products can also prevent skin ageing and wrinkles. The sun protection factor (SPF) rating is the measurement of amount of UV rays that enter the skin like in SPF 15, 1/15th of the harmful radiation will enter the skin. Conventional sunscreens as compared to broad spectrum sunscreens block nominal UVA rays whereas broad spectrum sunscreens protects both UVA and UVB radiation.
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The global sun care market is primarily driven by rising concern about sun damage and harmful effect by overexposure to the sun. Increasing awareness of skin cancer due to over exposure to the sun is driving the market in a positive way. Multi functional products which serve more than one purpose is triggering the growth in the North American market. Increasing demand for self tanning products in Europe is driving the market in a positive way. Increase in drugstore products which gives better value for money and availability of specialized products in the Middle East is triggering the market growth in this region. Additional skin care properties in sun care products is triggering the growth is Asia Pacific.
Based on types of sun care products, the global market can be segmented into sun protection, after sun and self tanning. Sun protection products garnered the maximum revenue in 2015. Sun protection products are the most used products in the sun care market. With growing concern about skin protection against harmful rays of the sun and increased awareness about skin cancer, sun protection products are increasing in popularity globally and the market is increasing consistently across all the regions.
Sun care market, by form is segmented as cream, gel, lotion, powder, liquid, wipes, spray and colored. Cream form of products was the largest contributor to the market in 2015 and accounted for a substantial share of the overall market. The ease of use and moisturizing properties of cream is the reason of its high demand in the market. Additionally, it is the most common form of skin care product which is enabling this form to have such a huge market share.
Geographically, the sun care market has been classified into North America, Europe, Asia Pacific and Rest of the World. North America acquired the largest share of the market in 2015 and was followed by Europe. These two regions held more than 60% of the global market conjointly, in 2015. Asia Pacific is projected to be the fastest growing region in this market during the forecast period. Availability of personalized products according to specific needs of the consumers in the developing countries of APAC and RoW is set to boost the growth of the sun care market. RoW is also set to exhibit stable growth from 2016-2024, owing to penetration of newer formulations of sun care products in the market.
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Some of the major players in the sun care market are: Beiersdorf AG, Groupe Clarins, Johnson & Johnson, Coty Inc., Shiseido Co. Ltd., L'oreal, Bioderma Laboratories, Estee Lauder, Burt's Bees and Unilever among others.