The Sun Care Industry: A Comprehensive Overview
Market Outlook and Trends
The global sun care products market is poised for significant growth, with a projected CAGR of 7.2% from 2024-2032. This growth is attributed to the rising awareness of the harmful effects of UV radiation and the increasing demand for sun protection ingredients.
Leading Sunscreen Brands
The sun care market is dominated by several leading brands, including:
- Banana Boat
- Hawaiian Tropic
- Avene
Market Size and Growth
The global sun care cosmetics market was valued at USD 85 billion in 2022, and it is expected to continue expanding, reaching a projected size of USD 175.3 billion by 2033, with a CAGR of 4.7%.
Growth Drivers
The growth of the sun care market is driven by several factors, including:
- Increased awareness of skin cancer
- Growing demand for natural and organic sunscreen products
- Rising popularity of outdoor activities
Market Forecast
The global sunscreen market is projected to grow at a CAGR of 5.28%, reaching a value of USD 162.04 billion by 2029. This growth is attributed to the increasing use of sunscreen in developing countries and the launch of innovative products.
Comments