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After Sun Care Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global after sun care products market was valued at USD 10.1 billion in 2022 and is projected to grow at a CAGR of 7.2% from 2023 to 2030. The growth in the after sun care products market is mainly attributed to the increasing demand for sun protection products, which is in line with the growing trend of sun safety. Furthermore, the after sun care products market is also witnessing a rise in the demand for products that are effective in treating various skin conditions such as sunburn, skin irritation, and skin aging.
The after sun care products market is dominated by two major players—Wang Laboratories Limited (WL) and L’Oreal SA (LSE)—with a share of almost 50% and 30%, respectively. Other major players in the after sun care products market include Unilever N.V. (UN), Beiersdorf AG (BEG), and Procter & Gamble Co. (PG).
The after sun care products market is segmented into sun care, skin care, and hair care products. Sun care products account for the largest share of the after sun care products market, followed by skin care products. The growth in the hair care products segment is mainly attributed to the growing trend of grooming products, which is in line with the growing demand for male grooming products.
Asia Pacific is expected to be the fastest-growing region in the after sun care products market, due to the increasing popularity of sun protection products in this region. North America is also expected to witness a growth in the after sun care products market, owing to the increasing trend of sun safety and the rising demand for products that are effective in treating various skin conditions.
Product Insights
The after sun care products market is anticipated to grow at a CAGR of over 5.0% between 2021 and 2027. The growth of the market is attributed to the growing awareness among consumers about the need to protect their skin after sun exposure. Furthermore, the increasing popularity of outdoor activities and resorts is boosting the demand for after sun care products among the consumers.
The sun care products segment is anticipated to lead the market and account for a share of around 50.0% in 2027. The growth of the sun care products market is attributed to the increasing adoption of sunscreens among the consumers. Sunscreens are used to protect the skin from the sun’s harmful rays. The sun care products segment is also supported by the increasing demand for anti-aging products.
Distribution Channel Insights
The sun care products market is segmented on the basis of type (face, body, and hands), application (face, body, and hands), and region.
The face segment is the largest and is expected to grow at the highest CAGR of 14.4% during the forecast period. This is attributed to the growth in the use of sun care products for the prevention of skin cancer.
The body segment is expected to grow at the highest CAGR of 11.5% during the forecast period. This is primarily driven by the increasing awareness about the benefits of sun care products for the prevention of skin cancer and other skin problems.
The hands segment is expected to grow at the highest CAGR of 9.6% during the forecast period. This is attributable to the increasing use of sun care products for the prevention of skin cancer and other skin problems.
Type Insights
The sun care products market is expected to grow at a CAGR of 6.8% over the forecast period. The growth is due to the increasing awareness about the importance of sun care and the increasing demand for skin-care products that protect the skin from the sun. Moreover, the growth of the sun care products market is also driven by the increasing popularity of sun tanning among women and men.
The sun care products market is fragmented into three segments: sun care products for body, sun care products for face, and sun care products for hair. The sun care products for body segment is expected to grow at the highest CAGR of 7.3% over the forecast period. This segment is driven by the increasing demand for sun care products for body skin such as body lotions, body oils, and body scrubs. The sun care products for face segment is expected to grow at the highest CAGR of 6.7% over the forecast period. This segment is driven by the increasing demand for sun care products for face skin such as face creams, face masks, and face sunscreens. The sun care products for hair segment is expected to grow at the highest CAGR of 6.3% over the forecast period. This segment is driven by the increasing demand for sun care products for hair skin such as hair shampoos, hair conditioners, and hair masks.
Regional Insights
Europe dominated the market and accounted for the largest revenue share of over 38.5% in 2022. This growth can be attributed to the increasing awareness about the importance of sun care products among consumers. Moreover, the increasing popularity of sun holidays and the increasing spending on leisure activities, such as travel and dining, is also contributing to the growth of the market. For instance, in June 2021, L’Oreal France launched a new line of sun care products, L’Oreal Sun Care for Men, with a focus on providing superior protection against the sun’s rays.
Asia Pacific is expected to witness the highest growth rate in the coming years. This growth can be attributed to the increasing popularity of sun holidays and the growing spending on leisure activities, such as travel and dining, in this region. In addition, the increasing awareness about the importance of sun care products among consumers is also contributing to the growth of the market.
North America is expected to witness the lowest growth rate in the coming years. This growth can be attributed to the increasing competition from Asia Pacific and Europe, as well as the increasing awareness about the importance of sun care products among consumers.
Financial Projections
In this section of the business plan, we will provide a detailed breakdown of all income and expense categories. These forecasts include cash flow projections and capital requirements for our After Sun Care products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for our After Sun Care products business comes from sales of our products. We have included a range of assumptions for how much sales will grow over the next five years, and we have also included a provision for product recalls.
Projecting Expenses
In this section, all the regular expenses related to keeping the After Sun Care products business running will be described. The list of operating expenses includes marketing and advertising costs, R&D costs, and manufacturing costs. We have also included a provision for unexpected events, such as product recalls or natural disasters.
Key companies & market share insights
Some of the key companies operating in the after sun care products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, L’Oréal announced the launch of a new line of sunscreens for the face, body and face.
– In July 2022, Clinique announced the launch of a new line of sunscreens for the face and body.
– In September 2022, Johnson & Johnson announced the launch of a new line of sunscreens for the face and body.
Some of the prominent players in the after sun care products market include:
– L’Oréal SA
– Clinique, Inc.
– Johnson & Johnson
– Unilever plc
– Procter & Gamble Co.
– Schwarzkopf AG
– AVON Products, Inc.
Global After Sun Care Segmentation
The global after sun care products market is projected to grow at a CAGR of 5.3% during the forecast period 2017-2030. This market is segmented on the basis of product, distribution channel, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Sunscreen
– Lip Balm
– After Sun Care Cream
– After Sun Care Gels
– After Sun Care Sprays
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Pharmacies
– Supermarkets
– Online Stores
– Others
3. Region Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the potential of product innovation?
[A]: With technology breakthroughs accelerating, businesses are implementing cutting-edge production methodologies to improve productivity and output while also instilling excellent manufacturing standards and product innovation. Product positioning and customer-specific category specification has been a source of worry for the manufacturer. However, the simple introduction of extra functionalities within the product is increasingly raising its demand from customers.
In the retail industry, design innovation is on the rise. Innovations in after sun care products are expected to influence the after sun care products market. Consumers are interested in items that bring simplicity, convenience, and speed to their normal routine, whether they be product improvements, design innovations, feature additions, or smart feature add-ons.
[Q]: Who are the key players in the after sun care products market?
[A]: Edgewell Personal Care Co., The Estée Lauder Companies Inc., The Kroger Co., Coty, Inc., L’Oréal S.A., Johnson & Johnson Consumer Inc., and Koninklijke Philips N.V.
[Q]: Which region offers the largest opportunity for sales of after sun care products?
[A]: North America is expected to be lucrative for after sun care products market.
[Q]: What are the factors driving the after sun care products market?
[A]: Key factors such as the increase in the number of after sun care products users and increased spending on after sun care products are expected to drive market growth over the forecast period.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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