The global sun care products market is projected to witness a CAGR of 3.15% during the forecast period (2021 - 2026).
Covid-19 has influenced consumers' spending habits and purchase decisions leading to the slight decline in the market growth, owing to various government-imposed measures intended to slow down the spread of the COVID-19. Owing to this factor, consumers around the world limited their travel in 2020 for leisure, recreational activities and sports events, this, in turn, reduced the consumption of sun care products by the consumers.
However, over the medium term, the sun care products market is anticipated to become one of the fastest-growing segments within the personal care industry, driven by the rise in consumer awareness related to skin cancer and ageing associated with exposure to UV rays. The demand for self -tanning products is expected to surge in the foreseeable future, and most of the demand centre is likely to be concentrated across North America and Europe.
In the coming years, consumers are likely to look out for one-stop solutions across cosmetic brands. Therefore, most of the sun care products available in the market are more likely to be infused with a combination of compounds having anti-ageing properties and intensive moisturizing solutions, among others.
Key Market Trends
Growing Popularity of Outdoor Recreational Activities
The past few years have seen an increase in participation in sports, especially in outdoor games. A recent trend growing across Europe is the immense response toward outbound tourism. The emerging trend for beach volleyball has also helped in the growth of the market.
In the total beach volleyball participation, 57% were males, and 27% of them were falling between the age group of 25-34. It is estimated that Americans spend more than 600 billion USD each year on outdoor recreational activities.
Consumers from Western countries prefer using sun care products during their outdoor activities, especially on beaches. Hence, the higher participation rate in outdoor recreational activities has contributed to the rise in the sales of sun care products.
Increasing Application of Sun Care Products in Middle-East
Companies are tapping the Middle Eastern market through countries such as Saudi Arabia by introducing products with new formulations, such as the incorporation of active ingredients for maximum protection. Online retailers, such as BasharaCare, are offering sun care products in Saudi Arabia.
Moreover, people in Israel are interested in a tanned look and heavily use tanning beds in salons, as a solution to achieve the look. The extensive distribution channels of international players, such as Beiersdorf in countries, such as Turkey, Kenya, Morocco, Ghana, etc., are leading to product availability and shelf visibility of products in stores, thereby enabling consumers to choose the required product with ease and thus driving the demand for sun care products in the Middle Eastern countries.
Consumers of these countries are also choosing sun care products after ingredient evaluation of the product. They seek information from a variety of sources that include pharmacists, product ingredient lists, suggestions from dermatologists, and information from the media before purchasing the required product. Thus, companies can convey sun protection education messages through social media to influence as well as reach a larger percentage of the population residing in these Middle Eastern countries.
The sun care products market is a highly competitive market, with the presence of various international players. The major players of the market are having a wide distribution network across the world. Players are also focusing on expanding the product portfolio by understanding the various requirements of the segment. L'Oreal International, Groupe Clarins, Unilever PLC, Shiseido Co. Ltd, and Johnson & Johnson are the major players in the market. Players in the market studied are focusing on rapid market expansion and new product launches, in order to gain a better market share, efficient results, and competitive edge over other competitors in the global market. For example, during May 2018, in collaboration with the German Cancer Research Center, Beiersdorf made new findings in basic cancer research relevant to the cosmetic industry. For example: The company enabled novel protection methods for sun care products and general skin cancer prevention products.
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TABLE OF CONTENTS
- 1.1 Study Deliverables and Study Assumptions
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
- 4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Self-tanning Products
- 5.1.2 After-sun Products
- 5.1.3 Sun Protection Products
- 5.2 Distribution Channel
- 5.2.1 Hypermarkets/Supermarkets
- 5.2.2 Specialty Stores
- 5.2.3 Online Store
- 5.2.4 Other Retail Stores
- 5.3 Geography
- 5.3.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 184.108.40.206 Rest of North America
- 5.3.2 Europe
- 220.127.116.11 United Kingdom
- 18.104.22.168 Germany
- 22.214.171.124 Spain
- 126.96.36.199 France
- 188.8.131.52 Italy
- 184.108.40.206 Russia
- 220.127.116.11 Rest of Europe
- 5.3.3 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 Japan
- 126.96.36.199 India
- 188.8.131.52 Australia
- 184.108.40.206 Rest of Asia-Pacific
- 5.3.4 South America
- 220.127.116.11 Brazil
- 18.104.22.168 Argentina
- 22.214.171.124 Rest of South America
- 5.3.5 Middle East and Africa
- 126.96.36.199 South Africa
- 188.8.131.52 Saudi Arabia
- 184.108.40.206 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
- 6.4 Company Profiles
- 6.4.1 Johnson & Johnson
- 6.4.2 Shiseido Company, Limited
- 6.4.3 Beiersdorf AG
- 6.4.4 L'Oreal SA
- 6.4.5 Procter & Gamble
- 6.4.6 Unilever
- 6.4.7 The Estee Lauder Companies Inc.
- 6.4.8 Lotus Herbals Pvt. Ltd.
- 6.4.9 S. C. Johnson & Son, Inc.
- 6.4.10 VLCC Health Care Ltd
- 6.4.11 ITC Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET