In 2023, the sun protection market demonstrates its substantial presence in Australia, boasting a robust revenue of $0.37 billion.
What’s even more promising is the projected annual growth rate of 9.41 per cent growth rate from 2023-2028, indicating a bright future for this industry segment, according to Statista.
To put this into perspective on a per capita basis, in 2023, each individual in Australia contributes $14.11 to the overall revenues of the sun protection sector.
This figure signifies not only the economic significance of sun protection products but also the awareness and importance of safeguarding against sun-related health concerns among the Australian population.
When we examine the global landscape, it becomes evident that the United States takes the lead, with an impressive revenue figure of $2.86 billion in 2023.
Retail Beauty recently reported on pioneering local brands Boost Lab and tbh Skincare merging in a new banner company – York St Brands – to double their firepower in the local and international markets.
tbh Skincare co-founder Rachael Wilde, now CMO at York St Brands, addressed media and guests at the launch of the Boost Lab new lightweight serum – Goody Goody Sun Drops SPF 50+.
Rachel explained that Boost Lab and tbh Skincare recently merged under one corporate umbrella, leading to a busy and exciting period of collaboration between the two brands.
“Boost Lab, originally founded by husband and wife, Craig and Lisa Schweighoffer, aimed to simplify and make the serum category accessible to everyone,” she said.
“They focused on addressing the skin concerns of mature-aged women, providing quality serums without exorbitant prices. The brand now offers 12 different serums, including the recently launched Goody Goody serum.”
Rachel said the motivation behind Goody Goody was to respond to customer feedback regarding the importance of SPF in daily skincare routines.
She emphasised the significance of SPF and the challenges people face with traditional sunscreen products, such as feeling greasy or makeup not adhering well.
“Goody Goody SPF was designed to be a beautiful and enjoyable SPF format, encouraging regular use and making SPF an integral part of one’s skincare routine,” she said.
Candice Warner then hosted a panel featuring Julie Stevnaja, cofounder of Stylerunner and Wrapd, Mary Kalifatidis (MAFS and Big Brother) and Amy Gerard, all of whom shared personal stories on things they wish they knew in their twentie – one being they wish they were more educated on sun protection.
Guests at the event include Michelle Bridges, Zoe Marshall, Caroline Groth and Laura Csortan.
Images from the launch event below:
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