According to a recently revised analysis by Fact.MR, a market research and competitive intelligence company, demand for sun protection products will exceed US$ 15.3 billion in 2021, expanding at a CAGR of 6.6% until the end of 2031.

Sun protection items can help you prevent the detrimental effects of UVA and UVB rays. This is a significant market area in the personal care business. With an increasing need to protect oneself from UV rays and sunburn, particularly during the summer, as well as changing climatic conditions and increased global warming, the market for sun protection goods will experience a spike in the next years.

The worldwide sun protection goods market is expected to benefit from innovation in health and beauty products. Consumers’ desire to seem younger and more attractive may increase demand for sun care goods such as sun protection wipes, powders, and lotions. Additional benefits of sun protection products include dark spot reduction, anti-aging, and anti-blemishing.

Manufacturers are creating sun protection solutions that provide total protection from hazardous sun exposure while also providing skin benefits by employing natural components such as aloe vera, shea butter, almond oil, and vitamin B. To fulfil rising consumer demand for natural and organic ingredients, producers are reducing the use of chemicals in these goods to a large extent.

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Key Takeaways from Market Study

• Through 2031, the worldwide sun protection goods market is expected to generate an incremental potential worth US$ 1.5 billion.
• Sun protection products with SPF (sun protection factor) ratings of 30 to 60 are projected to see increased demand in the coming years.
• Consumer understanding of skincare is anticipated to have a rapid beneficial impact on demand for sun protection goods.
• The increased worry about chemical allergies is predicted to drive up demand for natural indigent-based sun protection products.
• Pollution, changing external environments, and ozone layer depletion have all become important global challenges, and the number of individuals suffering from skin illnesses has risen dramatically.
• The after sun care category now maintains a considerable share of the worldwide sun protection products market, which is predicted to reach 24.1% in 2021, and the segment is expected to grow at a value rate of 7.4%.
• The zinc oxide category now maintains a considerable market share, which is expected to reach 31.5% in 2021 and grow at a value rate of 6.5%.

Competitive Landscape

Sun care product suppliers are focusing on strengthening their online presence and spending on research & development (R&D) to strengthen their footprint

Multinational sun protection product companies are focusing on expanding their manufacturing facilities and acquiring local players in order to diversify their product offerings.

• L’Oréal S.A. is the leading player which holds 17% market share of the total sun protection products market. The company focuses on developing disruptive scientific and technological innovations in every cosmetics category. Company research & innovation regarding hair care products will rise as it strives to meet consumer expectations.
• R&D capabilities of Johnson & Johnson Services, Inc. and Procter & Gamble Company has made them top competitors in the sun protection products market. Company business model relies on continued growth and innovation of product & brands, as well as creation of new innovative products.
• Japanese company Shiseido Co., Ltd also holds a significant share in the overall market.  The company established VISION 2020 strategy in the year 2018 to rebuild the business foundation and thoroughly resolve structural issues of business in Japan and overseas. Also, the company’s ‘prestige first’ strategy focuses on 4 new brands.

Who is Winning?

Consumers value quality and service above all. As a result, businesses are investing in research & development of distinctive and inventive high-quality products. In addition, they are focusing on adopting cutting-edge technology that will enable them to maintain high-quality standards.

Some of the leading companies offering sun protection products are Johnson & Johnson Services, Inc., Avon Products, Inc, Kao Corporation, Unilever PLC, Mary Kay Inc., The Procter and Gamble Company, Clarins Group, L’Oreal S.A., Christian Dior SE, Amway, Sisley Paris, and others.

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