In a recently published report, Global Sun Care Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Sun Care Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Sun Care Market is valued approximately USD 47.53 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.2% over the forecast period 2021-2027. Vetiver oil is a type of essential oil extracted from the roots of Vetiveria zizanioides (Chrysopogon zizanioides) (Linn) Nash. The main features of Vetiver oil are detoxifying, anti-inflammatory, anti-septic, scar treatment etc. it has a distinctively sharp and earthy fragrance. The widespread use of vetiver oil in medical industry, increasing use of fragrances in food & beverages, and increasing market for luxury fragrances are some of the factors driving the market growth for vetiver oil during the forecasted period. Reducing anxiety, improving breathing patterns, treatment of cramps, muscle ache, etc. are some of the therapeutic benefits of vetiver oil making it a good fit for medical industry. Vetiver oil finds application in fragrance/perfume industry in production of scents and colognes and incense, rising trend of personal grooming owing to growth in disposable incomes is felicitating vetiver oil market growth.
According to report of Fragrance and flavour Department Center, India, the estimated production of Essential oils is $4 billion. However, high cost of product, high susceptibility to natural disaster or disease disorder, changing agricultural practices are some of the impediments which can hamper the growth of the market over the forecast period of 2020-2027. Also, increasing R&D spending on product innovation, stress relieving properties and multiple skin care benefits of vetiver oil is likely to boost the vetiver oils Market during the forecast period.
The regional analysis of global Sun Care Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share due to development of perfumery and pharmaceuticals sector with the adoption of use of essential oils in cosmetic and medical industry. Whereas, Asia-Pacific is also expected to grow the market over the forecast period 2020-2027. Factors such as growth and development of the cosmetic, pharmaceuticals and fragrance industries and disposable income of the people will aide in market growth for the Sun Care Market across Asia-Pacific region.
Major market player included in this report are:
UniKode S.A.
Fleurchem, Inc
Aromatic Herbals Private Limited
FRAGER S.A.
Manohar Botanical Extracts Pvt. Ltd
Imperial Extracts
Falcon
LLUCH ESSENCE, S.L.
Van Aroma
Vigon International, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Nature:
Organic
Conventional
By Product Type:
Medical
Food and Beverages
Spa & Relaxation
Fragrance
Cleaning Home
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Sun Care Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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