The Lotions (Including Sunscreens) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Lotions (Including Sunscreens) Global Market Report 2024, The lotions (including sunscreens) market size has grown rapidly in recent years. It will grow from $50.32 billion in 2023 to $58.19 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to consumer awareness and education, fashion and beauty trends, climate and environmental concerns, market competition.
The lotions (including sunscreens) market size is expected to see rapid growth in the next few years. It will grow to $104.21 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to global health concerns, innovation in ingredients, customization and personalization, rising disposable income, influence of social media, environmental sustainability. Major trends in the forecast period include natural and organic ingredients, innovations in sunscreen technology, growing emphasis on sustainable packaging, digital marketing and e-commerce growth, global awareness of sun protection.
Rapid growth in the millennial population is expected to drive the lotion market. As of 2020, there were approximately 1.8 billion millennials worldwide. Young people tend to spend more than older people on cosmetics to improve their looks and quality of life. Millennials are the largest potential purchasing community for cosmetics in 2019, accounting for around 32% of the world’s population, compared to 17 percent for those over 55 years of age. By 2025, millennials are expected to constitute nearly three-quarters of the global workforce. As millennials will represent a large part of the global workforce and play a major role in driving the current economy, their preferences and shopping habits will be an important driving factor for the lotion market.
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The lotions (including sunscreens) market covered in this report is segmented –
1) By Type: Dry Skin Body Lotion, Oily Skin Body Lotion, Normal Skin Body Lotion, Other Types
2) By Channel: Direct Sales, Distributor
3) By Application: Men, Women, Baby
Top Major Players:
Johnson and Johnson Services Inc
Procter & Gamble Company
Unilever PLC
L’Oréal SA
Kimberly-Clark Corp
The demand for multi-benefit combinations has been increasing rapidly. Products such as foundations with anti-aging serums, sunscreen lotions, nail polish with UV protection, and anti-aging claims are introduced into the market. Multi-benefit solutions are expected to continue to penetrate further into different categories, such as hair care with anti-aging or fragrance to lipsticks with lip care.
The lotions (including sunscreens) market report table of contents includes:
1. Executive Summary
2. Lotions (Including Sunscreens) Market Characteristics
3. Lotions (Including Sunscreens) Market Trends And Strategies
4. Lotions (Including Sunscreens) Market – Macro Economic Scenario
5. Global Lotions (Including Sunscreens) Market Size and Growth
….
32. Global Lotions (Including Sunscreens) Market Competitive Benchmarking
33. Global Lotions (Including Sunscreens) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Lotions (Including Sunscreens) Market
35.Lotions (Including Sunscreens) Market Future Outlook and Potential Analysis
36. Appendix
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