Allied Market Research published a report, titled, “After Sun Care Products Market by Price Point (Mass After Sun and Premium After Sun), Form (Cream, Gel, Lotion, Essential Oils, and Others), and Distribution Channel (Retail Pharmacies, Convenience stores, Supermarket/Hypermarket, E-Commerce): Global Opportunity Analysis and Industry Forecast, 2019-2026.” According to the report, the global after sun care products industry was estimated at $2.1 billion in 2018, and is anticipated to hit $2.9 billion by 2026, registering a CAGR of 3.7% from 2019 to 2026.
Drivers, restraints, and opportunities-
Introduction of value-added sun care products, rise in incidence of chronic diseases such as skin cancer, and penetration of organic products fuel the growth of the global after sun care products market. On the other hand, rise of counterfeit cosmetics and premium cost of products impede the growth to some extent. Nevertheless, revenue opportunities in establishing direct distribution network and increase in demand for luxury skin care products are expected to create lucrative opportunities for the key players in the industry.
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Key players in the industry-
Beiersdorf AG
Lancaster Group
Unilver Plc
Coty Inc.
Shiseido
Estee Lauder Companies
Bioderma Laboratories
Clarins Group
Johnson and Johnson
L’Oréal SAS
Growing incidences of melanoma and other chronic skin diseases caused due to over exposure to sun rays has significantly increased the penetration of after sun care products. Population living in countries like Australia, the U.S., the Philippines, and the Caribbean are more prone toward sun burns. The rise in the population suffering from skin diseases due to sun exposure increases the overall demand for after sun care products. Consumers are purchasing after sun care products as a part of their daily skin care routines and are more inclined toward skin friendly and chemical free products. As a result, leading cosmetic manufacturers are offering novel products with unique attributes such as nanoparticles.
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The after sun care products market is segmented on the basis of price point, form, distribution channel, and region. By price point, it is categorized into mass after sun and premium after sun. Private label brands are largely sold under the mass after sun segment and are one of the prime products influencing the overall after sun care products market demand. The mass after sun care products segment was valued at $1.2 billion and is expected to growth with a CAGR of 3.3% (2019-2026) to reach $1.5 billion by 2026. The premium after sun care products segment is expected to be the fastest growing segment with a CAGR of 4.1% during the forecast period. The fastest growth of the premium after sun care products segment is attributed to the increased spending of people on premium cosmetic products and growth in penetration of e-commerce shopping for branded sun care products.
Key Findings of the After Sun Care Products Market :
The premium after sun care products segment is expected to grow at a CAGR of 4.1% during the forecast period.
North America is anticipated to dominate the after sun care products market growth, registering a CAGR of 2.5%.
Asia-Pacific is projected to exhibit exponential growth throughout 2026, registering the highest of CAGR 4.8%. Introduction of value-added sun care products and rise in disposable income of consumers are expected to drive the growth of the Asia-Pacific market.
The supermarket/hypermarket distribution segment is anticipated to dominate the global after sun care products market analysis, with a CAGR of 4.3% during the forecast period.
The gel based after sun care products segment is estimated to grow at a CAGR of 3.2% during the forecast period.
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Reason to Buy:
✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global After Sun Care Products Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the After Sun Care Products Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent.
✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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David Correa
Allied Analytics LLP
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