Sun Protection Products Market Analysis by CAGR of 5.48% Growth and Value to be USD 12,329.5 Million
Research Reports
Sep 14, 2023
Sun Protection Products Market Analysis
The global sun protection products market will touch USD 12,329.5 million at a 5.48% CAGR by 2027, as per the recent Market Research Future report.
Drivers
Burgeoning Need for Paraben-Free Sun Protection Products to Boost Market Growth
Over the projected period, the market for sun care products is predicted to be driven by the increased demand for organic & natural personal care products for the rising health concerns. These are often produced from plants and guarantee that the skin receives the full advantages of all the organic elements utilized to create the product. Owing to increased consumer knowledge regarding the negative effects of the chemicals used in sun care products, manufacturers are now providing paraben-free sun protection products to meet the market’s growing desire for natural products.
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Key Players
Eminent industry players profiled in the sun protection products market report include Johnson & Johnson Services Inc (US), L’Oreal S.A. (France), The Estée Lauder Companies Inc. (US), Revlon Inc. (US), Shiseido Co. Ltd (Japan), Avon Products Inc (UK), Groupe Clarins (France), Amway (US), Lotus Herbals Pvt. Ltd. (India), and Edgewell Personal Care Company (US).
Opportunities
Growing Popularity of Outdoor Activities to offer Robust Opportunities
Sports, hiking, & camping are among the outdoor activities that are growing in popularity, which is driving up demand for sun protection goods. Customers are searching for goods that can offer durable protection throughout prolonged outdoor exercise.
Restraints and Challenges
Lack of Awareness to act as Market Restraint
The lack of awareness regarding the need for sun protection products, side effects resulting from sunscreen, increasing competition, limited effectiveness of few suncare products, and regulatory challenges may act as market restraints over the forecast period.
Market Segmentation
The sun protection products market is bifurcated based on distribution channel, SPF range, and form.
By form, lotion will lead the market over the forecast period.
By SPF range, SPF 30 will domineer the market over the forecast period.
By distribution channel, store-based will spearhead the market over the forecast period.
COVID-19 Analysis
The COVID-19 epidemic, which resulted in the temporary closing of manufacturing facilities & lowered demand, has had a minor negative effect on the market for sun protection goods. Leading businesses are working hard to strengthen their supply chains and speed up their operations to prevent future losses amid ongoing attempts to stop the spread of SARS-CoV-2. The worldwide market for the sun protection goods should also be able to rebound fast in the years to come with the progressive lifting of the lockdown across nations and the new coronavirus under control.
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Regional Analysis
Europe to Command Sun Protection Products Market
The market for sun care products is dominated by Europe. Product demand has increased throughout the region as a result of customers becoming more aware of the negative effects that extended sun exposure has on the skin. Demand for goods has also been boosted by an increase in the number of products which provide several additional advantages including anti-aging and dark spot removal.
APAC to Have Admirable Growth in Sun Protection Products Market
The developing chemical industries in China and India are the main factor propelling the growth of the Asia Pacific market. This development is anticipated to ensure that producers of skin care products have continuous access to raw materials, which is expected to be advantageous for Asian manufacturers over the course of the forecast period. The APAC market will benefit from rising demand from developing nations namely China and India as a result of an increase in new product releases and growing consumer awareness of the negative effects of UV radiation and skin diseases.
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