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 skin care applications globally is likely to act as a key growth stimulant over the forecast period.
Growing awareness regarding 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.
The global after sun care products industry is anticipated to witness the highest revenue growth in 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 manufacture, marketing, packaging, and distribution of after sun care products, globally.
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Further key findings from the report suggest:
- The after sun care products market recorded 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 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 sun burnt 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 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.
