BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Sunscreen Market size by value at USD 879.12 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Sunscreen Market size to expand at a CAGR of 7.15% reaching a value of USD 1,256.76 million by 2030. The Sunscreen Market in India is propelled by the rising awareness about UV radiation's adverse effects on skin health, encompassing sunburn, premature aging, and skin cancer. Concurrently, the increasing surge in skin cancer incidences underscores the imperative of sun protection, fostering sunscreen adoption. As consumer lifestyles evolve towards increased outdoor engagement and travel, sunscreen emerges as an essential shield against sun exposure. Moreover, the fusion of sun protection into skincare and cosmetic regimens, driven by anti-aging awareness and beauty trends, bolsters sunscreen's popularity. Its transition from a seasonal to a daily necessity aligns with market expansion, supported by concerns over climate change-induced sun exposure.
By volume, BlueWeave estimated the India Sunscreen Market size at 864.2 tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Sunscreen Market size by volume is projected to grow at a CAGR of 7.11% reaching the volume of 984 tons by 2030. Continuous innovations in sunscreen formulations, emphasizing comfort and effectiveness, satisfies consumer preferences for lightweight, non-greasy options. Furthermore, the pursuit of broad-spectrum protection, coupled with influencer endorsements and heightened focus on health and wellness, amplifies sunscreen demand. Public health campaigns, along with the burgeoning travel industry and the accessibility of e-commerce platforms, further fuel market growth. Notably, dermatologists' endorsements solidify consumer trust in specific sunscreen products, contributing to sustained market expansion.
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Opportunity – Launch of innovative sunscreen products
A notable trend in the sunscreen industry is the shift towards eco-friendly and coral reef-safe formulations. Responding to concerns over conventional sunscreens' impact on marine life, many companies are introducing formulas with less harmful ingredients. These sunscreen products are gaining popularity, especially in regions where coral reefs are protected by strict regulations. Additionally, consumers increasingly seek sunscreens offering skincare benefits beyond UV protection, such as hydration, anti-aging properties, and antioxidants. Consequently, manufacturers are investing in research and development programs to create multipurpose sun care solutions that meet these evolving consumer demands. This reflects a growing focus on both environmental responsibility and holistic skincare in the sun care market.
Impact of Escalating Geopolitical Tensions on India Sunscreen Market
Geopolitical tensions can have a multifaceted impact on the India Sunscreen Market. Uncertainties and instability in global relations can disrupt supply chains, leading to challenges in sourcing raw materials and components essential for sunscreen production. Additionally, fluctuating currency exchange rates and trade restrictions may affect import-export dynamics, influencing product availability and pricing. Furthermore, heightened geopolitical tensions can dampen consumer sentiment and spending, potentially reducing demand for discretionary items like sunscreen. To mitigate these impacts, sunscreen manufacturers must adapt agile supply chain strategies, monitor geopolitical developments closely, and implement effective risk management measures to navigate the evolving geopolitical landscape and sustain market resilience.
India Sunscreen Market
Segmental Information
India Sunscreen Market – By Distribution Channel
By distribution channel, the India Sunscreen Market is divided into Retail Stores, Pharmacies & Drug Stores, and Online Platform segments. The pharmacies & drug stores segment holds the highest share in the India Sunscreen Market by distribution channel. Pharmacies and drug stores, conveniently located in urban and suburban areas, offer easy access to a diverse range of consumers seeking sun care products. Known for their reliability and quality in health and wellness offerings, these establishments are trusted destinations for purchasing sunscreens and related items. Moreover, customers value the expertise of pharmacists and store staff who can offer personalized guidance on selecting suitable sun care products tailored to individual skin types, sun exposure levels, and specific requirements. This personalized assistance enhances the overall shopping experience for consumers, reinforcing the role of pharmacies and drug stores as preferred destinations for acquiring sun protection products.
Competitive Landscape
The India Sunscreen Market is fragmented, with numerous players serving the market. The key players dominating the India Sunscreen Market include L’Oréal Paris, Beiersdorf AG, Coty Inc, Estee Lauder, Hindustan Unilever, Clarins, Shiseido, Lifevision India, and Amaira Herbals. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
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