After Sun Care Products Market Expected To Witness A Substantial Growth Of $2.81 Billion By 2025: Grand View Research Inc.

 

The global after sun care products market size is estimated to reach USD 2.81 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.1% during the forecast period. Rising product penetration in personal and skincare applications globally is likely to act as a key growth stimulant over the forecast period.

The Beauty and Personal Care (BPC) industry has witnessed a decline in the wake of the Covid 19 pandemic, but the impact is not as severe as seen in other industries. Although discretionary spending has reduced, the BPC market has witnessed a consumer behavioral shift towards safe and reliable products. Products that have a lower risk of contamination owing to automation and longer shelf lives helping the rationing of consumer supplies are expected to stand out in the near future. Brands are also focusing on improving their supply lines in terms of strengthening their E-commerce channel along with offering at-home wellness products, which are highly suited in this volatile business environment. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

Growing awareness regarding the importance of sun care products and post UV exposure products for complete skin repair is one of the key factors influencing the demand for after-sun products across the globe.

Lotion dominated the product market, mainly on account of multiple benefits offered and versatility of the product. Lotions are available for all skin types, climatic conditions, consumer preferences, and most importantly, at reasonable prices. Gel-based products and sprays are gaining popularity among seasonal users on account of ease of handling, application and reapplication, and better absorption by the skin.

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The global after sun care products industry is anticipated to witness the highest revenue growth in the Asia Pacific, at a CAGR of 4.3% over the forecast years. Major industry players, including L’Oréal SAS, Beiersdorf AG, Clarins Group, Lancaster Group, and Unilver Plc, are engaged in the manufacture, marketing, packaging, and distribution of after sun care products, globally.

Further key findings from the report suggest:

·         The after sun care products market recorded a valuation of USD 2.23 million in 2017 and is projected to rise at a CAGR of 3.1% over the forecast period. Growing product popularity among the youth population across the globe is poised to benefit the overall growth

·         After sun cream market was valued at USD 516.9 million in 2017 and is expected to witness steady growth over the forecast period, on account of burgeoning demand for light oil-based skin repair cream for face & body for deep nourishment and healing of sunburnt skin

·         The after sun gel segment is estimated to post a CAGR of 3.3% from 2018 to 2025. Widespread use of aloe-vera based gel formulation for instant relief from skin irritation and skin-soothing & hydration are key factors driving product demand

·         Europe dominated the global market for after sun care products in terms of revenue. The region was valued at USD 666.6 million in 2017 and is projected to witness significant growth in the near future on account of the rising incidence of skin cancer and other skin disorders in the U.K., France, Belgium, and the Netherlands, among others.

·         Some of the key strategies adopted by industry participants are mergers & acquisitions and integration across the value chain in order to strengthen their product portfolios and global distribution networks.

Risk of skin cancer is one of the most crucial factors impacting product consumption worldwide. Increasing occurrence of skin cancer across the globe due to sun exposure for prolonged hours is translating a greater uptake of various types of products. Growing consumer awareness regarding the prevention and protection of the skin is anticipated to propel the market over the forecast period.

 

A variety of ingredients are used for the preparation of after sun lotion, cream, gel, spray, and/or powder that offer multiple benefits such as cooling, soothing, hydrating, moisturizing, and repair. The most commonly used ingredients in the majority of after-sun products include aloe vera leaf juice, glycerin, coconut oil, green tea extracts, cucumber extracts, linalool, menthol, peppermint, lemongrass, shea butter, vitamin E, allantoin, and bisabolol. The use of lotion after exposure offers multiple benefits to the skin such as hydration, cooling effects, moisturizing, and soothing affected areas. The availability of numerous light lotion with high water content, at nominal prices, is poised to contribute to the growth of the segment over the forecast period.

The major skincare, personal care, and cosmetics manufacturing companies are involved in the manufacture of after sun care lotions, creams, gels, tan maximizers, and body spray. Key manufacturers include L’Oréal, Clarins Group, Unilever Plc, Procter & Gamble, and Burt’s Bees. These companies are actively involved in research & development for advanced products with high precision, faster results, and skin rejuvenation properties. These companies operate through vast distribution networks spread across the globe with production facilities catering to specific regions and economies. The companies engage in mergers and capacity expansions to advance their area of operation, diversify their product portfolio, and increase market shares.

Grand View Research has segmented the global after sun care products market on the basis of product:

After Sun Care Product Outlook (Revenue, USD Million, 2014 - 2025)

·         Cream

·         Gel

·         Lotion

·         Powder

·         Spray

·         Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.