According to FMI, the sun care products market would grow from US$ 13.6 billion in 2023 to US$ 25.3 billion by 2033. During the projection period, the market is expected to grow at a 6.4% CAGR.
The surge in skin-related disorders, including acne, eczema, tanning, rashes, and infection, is expected to drive market growth. Moreover, the market expansion is fueled by rising urbanization, shifting lifestyles, disposable income, and innovation. In addition, the rising consumer awareness of skin diseases, exposure to UV rays, and dullness of skin are increasing the demand for organic sun care products. These products aid in toxin clearance and skincare maintenance.
Customers are molding towards SPF & UV protection sun care products to prevent aging and provide deep moisturization. Manufacturers develop solutions using natural components to treat damaged skin, focusing on consumer needs. In addition, these producers expand market prospects by offering plant-based components free of harmful chemicals.
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Why do Consumers Prefer Sun Care Products in Tubes Packaging?
Tubes packaging is expected to dominate the cosmetic market by securing a 42.8% share by 2033. The manufacturers provide cosmetic products such as shampoo, face wash, cream, lotion, and toothpaste in tube packaging. Tube packaging is dependable and practical because it stores the products and is simple to use. Many sorts, forms, and shapes of tubes are created by manufacturers along with product descriptions. High-quality tubes were designed by the makers for product packing to extend shelf life. Moreover, leading cosmetic and new start-up companies are developing innovative paper tube packaging to facilitate recycling and lower carbon emissions.
Key Takeaways:
- The sun care products market is likely to reach a valuation of US$ 25.3 billion by 2033.
- The sun care products market is expected to record a CAGR of 6.4% during the forecast period.
- The market in the United States is anticipated to capture 81.1% of the share through 2033.
- With a CAGR of 57.8%, the Australia sun care products market is expected to increase significantly during the forecast period.
- The market in India is expected to secure a share of 27.3% over the forecast period.
- The market in China is projected to reach a share of 42.6% by 2033.
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Who is Winning?
The prominent players play a vital role in the global market by capturing maximum output. These prominent players focus on consumers’ requirements and launch innovative products to meet their needs. For example, they are developing sun care products without side effects and premium packaging to enhance product life.
These players invest in research and development activities to expand the market size. In addition, the key players upsurge the market through marketing strategies, including collaborations, partnerships, product launches, mergers, and acquisitions.
Other Players in the Market are:
- 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
Recent Developments in the Market are:
- In September 2020, a Korean Brand, KOKOSTAR, launched its new product Sunscreen Capsule Mask by adding sunscreen oil and sunblock serum. The company launched this vegan mask with biodegradable ingredients.
- In May 2022, L’Oréal launched its new UV filter technology-based product UVMune 400, to protect skin from harmful UVA radiation.
- In February 2022, Beiersdorf established its new center in the United States for therapeutic OTC and sun care products.
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Sun Care Products Market by Category
By Product Type:
- Sunscreen
- After Sun Care
- Self-tanning Products
By Packaging Type:
- Bottles/Jars
- Pumps & Dispensers
- Tubes
- Others
By Age:
- Adult
- Kids
By Nature:
- Organic
- Conventional
By Sales Channel:
- Hypermarkets/Supermarkets
- Specialty Stores
- Multi-brand Stores
- Pharmacy/Drug Stores
- Department Stores
- Convenience Stores
- Online Retailers
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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