Sun care industry comprises companies that operate by manufacturing sun care products. Across the different regions of manufacturers across the world, the increased launching of products with additional benefits such as anti-ageing components, fragrances, vitamins, glittery effects and rapid-drying effects are attracting a larger set of users. There are also different trends towards those with products that offer multiple benefits such as sunless tanners with sunscreen and insect repellent features. According to the report Sun Care Products: A Global Strategic Business, the sun care market is driven by the rising consumer awareness about sun protection and skin health, which is fueling growth across all segments including sun-protection and self-tanning. The availability of sunscreens in various personal care categories such as anti-wrinkle lotions, daily wear and kids and baby care products is also driving sun care product sales.

The rising consumer expectations in terms of product characteristics such as durability, self-tanning, absorption, and water resistance are boosting innovation in the sun care products market. The demand is also rising for personal care products such as anti-wrinkle lotions, and kids and baby care products, which are integrated with sunscreen characteristics. Globally, sun protection products represent the largest segment in the sun care products market. Sun protection is driving growth for sun care products, and the merging of skin care properties with sun protection is supporting a distinct global trend towards high factor sun protection, according to Euromonitor. Since rising concerns about exposure to ultraviolet radiation and the need to prevent skin damage are contributing to the increased demand for more effective products with high SPF and broad-spectrum protection, manufacturers are intensifying their competition to offer consumers highly efficient formulations. After-sun products are the second market category, and are driven by the growing demand for products with skin care, anti-aging and relaxation properties.

 

The global market for sun care products is projected to reach $5.6 billion by the end of 2015, according to Global Industry Analysts. The US and Europe, which are the world’s main markets for sun care products, would be affected by similar trends, that is an increased consumer awareness, an ageing baby boomer population, the availability of wide variety of easy-to-use products, the growing significance of organic and natural formulations, and aesthetic concerns. According to Evolution and Prospects in Global Sun Care: Key Solar Hot Spots, sales of sun care products globally reached $9.3 billion in 2011. While Western Europe remains the largest market for sun care products, and lately Latin America is showing dynamic growth primarily driven by Brazil. Brazil's rapid growth could make the Latin American region a future contender for the number two spot globally, replacing Asia-Pacific. The number one position, however, will continue to be held by Western Europe through 2016. Consumers globally are increasingly aware of the dangers of sun damage, and are looking more for products with sun protection properties.

 

Market consumption volumes increased with a CAGR of 4.1% between 2008 and 2012, to reach a total of 803.3 million units in 2012. The performance of the market is forecast to accelerate, with an anticipated CAGR of 6.1% for the five year period between 2012 and 2017, which is expected to drive the market to a value of approximately $10.8 billion by the end of 2017. Sun care in the US continues to be closely contested by three major players since 2012, that are Energizer Holdings, Merck & Company and Johnson & Johnson, which together account for a whopping 61% value share of the market. Energizer Holdings has maintained its position as the number one competitor in the field, with a value share of over 23% and a product line that consists of brands that are highly popular and in demand. Despite the downward pressure in several regions however, the continued growth of aerosol sprays and the continued spread of sun care knowledge campaigns are expected to help to keep future growth in line. The global suncare market had total revenues of approximately $7.9 billion in 2012, while showing a CAGR of 5% between 2008 and 2012 and they are expected to show a substantial amount of growth potential to the five year period until 2017.