THE SCORCHING HEAT OF THE Indian summer has become a major market driver for the suncare segment. As per Statista Market Insights, the revenue in the sun protection segment is pegged at $0.68 billion in 2023. The market is expected to grow annually by 8.58 per cent (CAGR 2023-2027).
According to industry estimates, while pharma companies manufactured medicated or prescription-based sunscreens continue to enjoy around 37 per cent of the total market share, the potential for growth and high consumer demand has made the over-the-counter (OTC) sunscreens rule the market with a whopping 63 per cent share. The Indian sunscreen market is one of the highest and fastest-growing in the skincare segment in India.
All-round Growth
The prescription-based suncare market’s growth rate is at 25 per cent, while the OTC sunscreen market is at 22 per cent. The market size can be understood by the fact that while pharma companies like Glenmark have launched OTC variants of their sunscreens, Hindustan Unilever’s skincare brand Pond too jumped on the bandwagon and added sunscreens to its portfolio this summer. The Indian suncare market has space for all. Luxury brands such as Kiels, Estee Lauder, Clinique, Laneige and Paula’s Choice enjoy a good market share, along with names such as Lotus Herbals, Aroma Magic and younger players including the likes of Ayouthveda, Minimalist and Deconstruct, among others.
Diese Geschichte stammt aus der 3rd June 2023-Ausgabe von Business World India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der 3rd June 2023-Ausgabe von Business World India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.