Consumer Goods

Sun Care Products Market is Expected to Reach USD 20.92 Billion by 2031

Apr 2024

Consumer Goods

As per the report published by Kings Research, the global Sun Care Products Market was valued at USD 13.86 billion in 2023 and is projected to reach USD 20.92 billion by 2031, growing at a CAGR of 5.37% from 2024 to 2031.

The sun care products market is witnessing a paradigm shift toward sustainability, driven by increasing consumer awareness of environmental issues and their preference for eco-friendly products. This highlights the increase in demand for sunscreens and related products that are formulated with sustainable and reef-safe ingredients, as well as packaging materials that minimize environmental impact. Companies operating in the market are responding to this trend by investing heavily in research and development to innovate sustainable formulations and packaging solutions, thereby capitalizing on the growing consumer preference for eco-friendly products. Additionally, regulatory initiatives aimed at banning or restricting the use of certain chemical UV filters harmful to marine ecosystems propel the adoption of sustainable sun care products. As a result, market players prioritizing sustainability in their product offerings are anticipated to gain a competitive advantage and capture a larger share of the market, thereby driving overall market growth in the coming years.

Key Insights

  • Based on packaging type, the pumps and dispensers segment is projected to experience the highest CAGR of 7.10% over 2024-2031
  • Based on product type, the sunscreen segment held the largest market share of 45.68% in 2023
  • Based on age, the adults segment generated the highest revenue of USD 8.66 billion in 2023
  • Based on nature, the conventional segment is anticipated to generate a value of USD 11.87 billion by 2031
  • Based on sales channel, the hypermarkets/supermarkets segment held the largest market share of 29.65% in 2023
  • On the basis of region, Europe is expected to generate revenue of USD 5.32 billion by 2031

Bubble Launches New Products Under Sun Care Category

June 2023: Bubble ventured into the sun care sector by releasing two mineral SPF 40 sunscreens, named Plus One and Solar Mate. Plus One serves as a tinted sunscreen, whereas Solar Mate is an invisible sunscreen. These products align with the brand's objective of developing skincare solutions that are more gentle on sensitive and acne-prone skin.

Health and Wellness Trends to Aid Sun Care Products Market Growth

The growing focus on health and wellness among consumers, driven by an increasing emphasis on preventive healthcare and holistic well-being, acts as a significant factor driving the growth of the sun care products market. Individuals are increasingly conscious of the long-term health implications of UV radiation exposure, including skin cancer and photoaging, prompting them to prioritize sun protection as part of their daily skincare routines. This increasing awareness of the importance of UV protection is fueling the demand for sunscreens, sunblock, and other sun care products that offer effective protection against harmful UV radiation.

Expansion in Emerging Markets to Offer Promising Expansion Opportunities

Expanding into emerging markets such as those in Asia-Pacific, Latin America, and the Middle East & Africa presents multifaceted opportunities for the sun care products market growth. These regions are experiencing rapid urbanization and economic growth, leading to a burgeoning middle-class population with increased purchasing power and disposable income. As a result, consumers in these markets are becoming more health-conscious and prioritizing skincare, including sun protection, as part of their daily routines. Moreover, the rising awareness of the detrimental effects of UV radiation on skin health, coupled with the growing influence of global beauty and wellness trends, fuels the demand for sun care products in these regions.

Technological Innovation and Product Differentiation to Propel Sun Care Products Market Growth

Technological advancements offer ample opportunities for market players to differentiate their product offerings and gain a competitive edge in the sun care products market. Innovations such as smart UV monitoring devices, advanced UV protection technologies, and novel formulation techniques enable the development of more effective and consumer-friendly sun care solutions. Moreover, the integration of digital platforms and artificial intelligence into skincare diagnostics and personalized recommendations presents new avenues for enhancing consumer engagement and driving product innovation.

Europe accounted for a Prominent Share of 26.31% in 2023

Europe is emerging as a significant region in the global sun care products market, propelled by a mature market landscape, stringent regulatory standards, and a growing consumer base. With a strong emphasis on skincare and health-conscious lifestyles, European consumers prioritize sun protection as a fundamental aspect of their daily routines, thereby contributing to the sustained demand for sun care products. The region's diverse climate, encompassing both Mediterranean and Northern European countries, underscores the need for a wide range of sun protection solutions tailored to varying UV exposure levels and skin sensitivities.

Furthermore, the European market is witnessing notable trends such as the increasing preference for natural and organic sun care formulations, driven by consumer concerns over chemical exposure and environmental sustainability. Market players in Europe are responding to these trends by innovating eco-friendly products with clean ingredient labels, thereby meeting the demand for safer and more sustainable options for sun protection.

Additionally, the region's well-established distribution channels, including pharmacies, specialty stores, and online platforms, facilitate widespread access to sun care products. Market players aim to leverage this extensive distribution network to reach a broad consumer base across Europe. Europe presents lucrative opportunities for market players to capitalize on the region's health-conscious consumer base and evolving preferences for natural and sustainable sun care solutions.

Launch of Cross-Border E-Commerce Platforms by Key Players to Drive Market Growth

The global sun care products market is fragmented with key players such as L'Oréal Paris, Estée Lauder Companies, Johnson & Johnson Services, Inc., Procter & Gamble, Unilever, Beiersdorf AG, Shiseido Co., Ltd., Kao Singapore Pte. Ltd., Edgewell Personal Care, Colgate-Palmolive Company, and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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