Rockville, July 19, 2023 (GLOBE NEWSWIRE) -- The global after-sun care products market is expected to have stronger growth at a 3.4% CAGR over the next ten years, up from a meagre 1.4% CAGR from 2018 to 2022. Sales of after-sun care products are anticipated to reach US$ 3.73 billion by the end of 2033 from an estimated US$ 2.67 billion in 2023.
After being in the sun, people use after-sun care products to protect their skin from damage and tanning. Over the next several years, it is anticipated that rising aesthetic awareness and a global increase in the use of personal care products will predominantly boost shipments of after-sun care products.
For more insights into the Market, Request a Sample of this Report –
https://www.factmr.com/connectus/sample?flag=S&rep_id=6863
Key Driving Forces Accelerating the Market Growth
- Over the past years, there has been a significant increase in public awareness regarding the harmful effects of UV radiation on the skin. Educational campaigns by health organizations, skincare experts, and sunscreen manufacturers have emphasized the importance of sun protection to prevent sunburn, premature aging, and skin cancer. This heightened awareness has translated into higher demand for after-sun care products, as consumers now recognize the need to take care of their skin after exposure to the sun.
- The concept of overall health and wellness has gained traction, leading people to focus more on their skincare routines. Consumers are increasingly seeking products that not only protect their skin from sun damage but also nourish and revitalize it post-sun exposure. After-sun care products, such as soothing lotions, gels, and creams, offer relief and hydration to sun-stressed skin, addressing these concerns.
- North America is a popular tourist destination, attracting millions of visitors each year. Tourists, especially those coming from regions with less intense sun exposure, are more susceptible to sunburns and skin damage.
- After sun care product sales in the US are expected to witness a revenue of US $ 795.36 Mn by the end of 2033.
- Skin cancer rates have been on the rise globally, including in North America. As people become more aware of the link between sun exposure and skin cancer, they are taking proactive measures to protect their skin. After sun care products play a crucial role in alleviating the immediate effects of sunburn and reducing long-term skin damage, thus appealing to consumers seeking to minimize their skin cancer risk.
Vital indicators shaping the future of the industry
Growing awareness about the importance of sun protection and skin health will continue to drive the demand for after sun care products. Consumers' increasing concern about the harmful effects of UV radiation and their willingness to invest in skincare products will shape the market's future.
The level of market penetration and the intensity of competition among manufacturers will determine the pace of innovation and the introduction of new products. As the market becomes more saturated, manufacturers may focus on product differentiation and unique selling points to gain a competitive edge.
Challenges hindering the market growth
The demand for after sun care products tend to be highly seasonal, peaking during the summer months when people engage in more outdoor activities. During colder months, demand drops significantly, posing a challenge for manufacturers to maintain consistent sales and revenue throughout the year.
The market for after sun care products in North America is competitive, with numerous brands vying for market share. Established players and new entrants constantly introduce new products and marketing strategies, making it challenging for smaller or less well-known brands to gain traction.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=6863
Competitive Landscape
Key large players in the market are focusing on new products to expand their product portfolio and gain a substantial share of the market.
- For instance, In May 2022, Eucerin launched the Eucerin Sun Line. This line is comprised of seven products developed with dermatologists and further caters to the needs of the body and face.
Key Companies Profiled
- L'Oréal S.A.
- Natura &Co
- Johnson & Johnson Services Inc.
- Shiseido Co. Ltd.
- The Procter & Gamble Company
- The Estee Lauder Companies Inc.
- Kao Corporation
- Beiersdorf Aktiengesellschaft
- Avon Products Inc.
- Unilever PLC
- Christian Dior SE
Most Trending Reports in Consumer Goods Industry:
Sun Protection Products Market: Sun protection products market analysis, the market is forecast to experience steady rise with its overall valuation reaching US$ 15.3 Bn in 2021. Sales are expected to surge at 6.6% CAGR through 2031.
Natural Skin Care Products Market: The global natural skin care products market size is expected to secure a market value of US$ 13.4 Bn during the forecast period. The projected market growth is around 6.5% during the forecast period from 2022 to 2032.
Vegan Beauty Products Market: The vegan beauty products market witnessed growth at a CAGR of over 4% in the period 2013-2017. The ever-growing popularity of veganism in the beauty & personal care space is one of the chief factors propelling growth of vegan beauty products market.
Premium Beauty and Personal Care Products Market: In FY 2021, the premium beauty and personal care products market reached a valuation of US$ 474.7 Billion, and is likely to register a Y-o-Y growth rate of 4.0% in 2022, closing at US$ 496.63 Billion.
About Fact.MR
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Connect to Author: Mr. Yash Pathak
Email : yash@factmr.com
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | YouTube
