This market research report presents a comprehensive analysis of the global sun care products market by product (sun protection products, after-sun products, and self-tanning products) and by geography (the Americas, APAC, Europe, and MEA). Leading vendors identified in the market are Beiersdorf, Estée Lauder, Johnson & Johnson, L’Oréal, and Shiseido.
Technavio’s market research analysts estimate the global sun care products market to grow at a CAGR of around 4% between 2016 and 2020. The increasing awareness about the ill-effects of global warming, ozone depletion, and exposure to UV radiation on the skin has triggered an increasing demand for sun care products, thereby contributing to the growth of the market. At present, the Americas dominate the global sun care products market, accounting for around 37% of the total market share in 2015. The early adoption of sun protection and after-sun products has made the region a mature market for sun care products, with women being the primary consumer segment.
The new market research report from Technavio presents a breakdown and analysis of the sun care products segment by product type.
“The demand for multifunctional products are witnessing a remarkable increase in this market. The convenience offered by products such as BB creams, which act as moisturizers, serums, foundation for makeup, and sunblock, are causing an increase in the demand and thereby contributing to the growth of the market. The convergence of sun and skincare products is expected to have a positive impact on the global sun care products market during the forecast period,” Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
Currently, the sun protection segment dominates the global sun care products market with a market share of almost 64%. Developed countries such as Japan, the UK, and Germany account for the majority share of revenue from the sale of sun protection products. The increase in the awareness amongst consumers about the harmful effects of UV radiation and the convergence of sun and protection products with skin care benefits such as anti-aging and moisturizing is expected to boost the global sun care products market over the next four years.
They key vendors in the global sun care products market include Beiersdorf, Estée Lauder, Johnson & Johnson, L’Oréal, and Shiseido. The market is primarily dominated by a few well-established global players. However, the growing presence of many small and mid-size vendors has created a highly competitive marketplace and will positively impact the market revenue shares in the next few years. Vendors compete on the basis of product differentiation, product portfolio, quality, and pricing to gain maximum market shares. With the rising demand for improved quality products, the market is expected to witness an influx of new and quality product launches, which will drive the market in the near future.
A more detailed analysis is available on the Technavio report, Global Sun Care Products Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
