TAGS: Sun Care
According to a new report by Grand View Research, the global sun care products market is expected to reach USD 14.7 billion by 2028. The market is expected to expand at a CAGR of 4.0% from 2021 to 2028.
Preventing Skin from Sunburn
Sun care products are gaining popularity among consumers owing to the rising awareness of the effects of UV rays on the human skin. Moreover, consumers’ concerns about the signs of skin aging due to increased sun exposure are expected to drive the market.
The adult sun cream held the largest revenue share in 2020 and is expected to maintain its dominance over the forecast period. Sun cream for adults is used to prevent the skin from sunburn and early signs of aging, such as wrinkles and leathery skin. The ability to protect against a high risk of skin cancer, skin discoloration, and inflammation is expected to improve sales in the coming years.
Europe- Dominant Region in 2020
The hypermarket and supermarket segment held the largest revenue share in 2020 and is expected to maintain dominance over the forecast period. A large number of consumers prefer buying sunscreen products from hypermarkets and supermarkets due to the shopping experience offered by these stores. The ability to physically verify these products, along with expert assistance, is another major factor contributing to this distribution channel’s growth.
Europe made the largest contribution to the global market in 2020. Rising awareness among consumers regarding the harmful effects of prolonged sun exposure on the skin has helped boost product demand across the region. Furthermore, an increasing number of products that offer various additional benefits, such as dark spot reduction, anti-aging have further fueled product demand.
Range of Sunscreens
Source: Grand View Research