After Sun Care Product Market Growth & Trends
The global after sun care products market is expected to reach USD 1.64 billion by 2030, expanding at a CAGR of 4.1%, according to a new report by Grand View Research, Inc. Rising consumers awareness especially, among the millennials regarding the harmful effect of the sun rays on the skin has driven the after sun care products in the market. Moreover, natural and organic after sun care products are gaining traction among a growing number of consumers, driven by the rising consumer awareness related to the harmful effects of chemicals on the skin. Usage of organically-sourced ingredients in product formulations is anticipated to surge in the next few years as per the trends observed in after sun care products consumption.
After sun care products are available in a wide variety of types, variants, and others to suit the requirements of a varied set of consumers. The demand for after sun care products with natural ingredients is increasing rapidly owing to their various benefits to the skin, such as protecting skin because of the exclusion of harmful chemicals from it, further propelling their demand in the market.
The mass segment contributed a majority of the share to become the largest division in the global revenue in 2021. Easy accessibility of after sun care products at a reasonable price to the consumers has driven the after sun care products in the market.
The lotion segment contributed a majority of the share to become the largest division in the global revenue in 2021. Lotion usually has around 5 to 25 percent of oil-soluble substances and oils in it. Thus, they get easily spread and absorbed quickly into the skin. Thus, making it the most popular form among the consumers. Moreover, lotions are available for all types of skin in the market. Thus, the aforementioned facts have driven the growth of the market in terms of value sales.
The e-commerce segment is expected to register the fastest CAGR from the year 2022 to 2030. E-commerce retail sales are expected to witness substantial gains in the coming years on account of rising consumer spending, growing population, and wide availability of products. In addition, the introduction of mobile shopping apps for after sun care products such as Amazon, Nykaa, and others along with the availability of safe & convenient payment gateways are contributing to the growth of the online retail industry.
The market is fragmented in nature with the presence of a large number of international players and a few regional players. Unilever; The Estée Lauder Companies Inc.; Shiseido; MacAndrews & Forbes (Revlon); L’Oréal S.A.; Coty Inc.; Clarins; Beiersdorf AG; Johnson & Johnson Services, Inc.; and Bioderma Laboratories.
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After Sun Care Products Market Report
After Sun Care Product Market Report Highlights
- The gel segment is projected to register the fastest growth during the forecast period with a CAGR of 5.3% from 2022 to 2030. The benefits offered by after sun care products in gel form such as creating dense fil on the skin to protect it from the harmful effect of the sun on the skin over conventional after sun care products and others. This in turn is expected to boost the demand for gel after sun care products during the forecast years.
- The premium after sun care products segment is projected to register the fastest growth during the forecast period with a CAGR of 5.0% from 2022 to 2030. The rising demand for color cosmetics to enhance physical appearance, especially among the young population is expected to boost the demand for gel after sun care products during the forecast years.
- During the forecast period, the e-commerce segment is expected to grow the fastest. The increasing availability of a wide range of after sun care products of different brands, free delivery, and seasonal discount on e-commerce platforms such as Walmart, and Amazon are among the major reasons driving the segment.
- Asia-Pacific has accounted for the highest market share in the global revenue in 2021. European consumers, most notably in China, India, Japan, and ASEAN are increasingly inclining towards after sun care products which in turn is fueling the growth of the market.
