Overview and Scope
The lotion is a smooth liquid preparation designed to be applied to the skin for medicinal, cosmetic, or protective purposes. For example, sunscreens are substances that protect from the sun’s ultraviolet (UV) radiation and thus help against sunburns.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the lotions market in 2023. Western Europe was the second-largest region in the global lotions market. The regions covered in the lotions (including sunscreens) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the lotions (including sunscreens) market report are Johnson and Johnson Services Inc., Procter & Gamble Company, Unilever plc, L’Oréal SA, Kimberly-Clark Corp., Colgate-Palmolive Company, Estée Lauder Companies Inc., Beiersdorf AG, L’Oréal USA Inc., Shiseido Co. Ltd., Coty Inc., Galderma Laboratories L.P., Avon Products Inc., Revlon Inc., The Hain Celestial Group Inc., St Ives, Crabtreeand Evelyn Ltd., Aveeno, Groupe Clarins, The Derma Co., Honasa Consumer Ltd., Jergens Inc., Murad LLC, Pharmaceutical Specialties Inc., La Roche-Posay Laboratoire Pharmaceutique, Avalon Natural Products Inc., EltaMD Inc., Hempz Pure Herbal Extracts, Laboratoires Dermatologiques Avene, Uprising Science Private Limited
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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