The global market for sun shading products will grow by an average of 5.16 per cent per year over the next eight years. This is the assumption of the analysts at Fortune Business Insights. In a recent study, they forecast growth from USD 14.90 billion in 2024 to USD 22.28 billion in 2032.

New Awareness for Skin Health

The market researchers refer to a study by the British SkinCancer Organisation as to the causes. According to this, a total of 5,420 men and 2,570 women in the UK died from melanoma caused by sun exposure in 2023. Fortune Business Insights sees this as an important reason why consumer demand for sunscreens with a high sun protection factor and purely mineral sunscreens has increased. According to the market researchers, this is primarily responsible for the rapid growth of the global sun protection market.

According to the analysts, skin problems caused by UV exposure are primarily fuelling demand for sun care with an anti-ageing effect. The analysts assume that information campaigns by cancer aid organisations on the subject of sun protection will further boost demand for these products. Female consumers in particular are increasingly asking for multifunctional products. The study assumes that sales of combined products such as sunscreen with moisturiser, skin lightener with sunscreen and others will continue to rise.

Luxury Segment and Self-Tanners Are Increasingly in Demand

Other trends identified by the market researchers include a shift in demand towards luxury products and an increased interest in self-tanning products. The latter are preferably made from coconut oil, argan oil and other natural ingredients. This trend is expected to offer new growth opportunities for the most important companies in the sustainable tanning products segment.

Source: Fortune Business Insights