Product Code: MCP17875
Global Premium Sun Care Products Market to Reach US$18.3 Billion by 2030
The global market for Premium Sun Care Products estimated at US$13.9 Billion in the year 2023, is expected to reach US$18.3 Billion by 2030, growing at a CAGR of 4.0% over the analysis period 2023-2030.
The U.S. Market is Estimated at US$3.8 Billion While China is Forecast to Grow at 6.6% CAGR
The Premium Sun Care Products market in the U.S. is estimated at US$3.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$3.8 Billion by the year 2030 trailing a CAGR of 6.6% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.1% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.
Global Premium Sun Care Products Market - Key Trends and Drivers Summarized
Why Are Premium Sun Care Products in High Demand?
Premium sun care products have become increasingly popular as consumers become more aware of the importance of skin protection and the harmful effects of sun exposure. But what exactly makes these products so sought after? The key difference lies in their advanced formulations, which not only protect the skin from UV damage but also provide additional skincare benefits. Unlike standard sunscreens, premium sun care products often incorporate high-quality ingredients such as antioxidants, hyaluronic acid, and natural extracts that nourish and hydrate the skin while offering broad-spectrum sun protection. These products go beyond the basic function of blocking harmful rays, addressing concerns like anti-aging, skin tone correction, and moisture retention. The growing demand for premium sun care also reflects a shift in consumer behavior, with individuals becoming more proactive about preventing skin damage and recognizing the long-term benefits of investing in high-quality sun protection. Additionally, premium brands tend to offer lightweight, non-greasy formulations that feel more luxurious on the skin, catering to consumers who want a seamless, pleasant experience in their daily skincare routine.
What Sets Premium Sun Care Products Apart from Regular Sunscreens?
What distinguishes premium sun care products from traditional sunscreens is their superior formulation, ingredients, and the overall experience they provide. Premium sun care products are often formulated with cutting-edge technology that ensures long-lasting protection, water resistance, and even photostability, which means the product remains effective under prolonged sun exposure. These products usually offer broad-spectrum protection, shielding the skin from both UVA and UVB rays, as well as protecting against other environmental stressors like pollution and infrared radiation. The use of high-end ingredients such as vitamins C and E, plant extracts, and peptides adds to their appeal by providing anti-aging and skin-repairing benefits alongside sun protection. In contrast to traditional sunscreens, which may leave a sticky or heavy residue, premium sun care products are designed to be lightweight, fast-absorbing, and non-comedogenic, making them ideal for daily use, even under makeup. Additionally, many premium sun care brands emphasize clean beauty principles, using non-toxic, reef-safe ingredients and eco-friendly packaging, which appeals to environmentally conscious consumers. This blend of advanced protection, skincare benefits, and ethical practices sets premium sun care products apart in an increasingly competitive market.
How Are Premium Sun Care Products Influencing Consumer Behavior?
Premium sun care products have had a significant impact on consumer habits, changing how individuals view sun protection as part of their overall skincare routine. But how exactly has this shift occurred? Traditionally, sunscreen was seen as a seasonal product used mainly during vacations or outdoor activities, but premium sun care products have helped change this perception, encouraging consumers to incorporate sun protection into their daily regimen year-round. With their multifunctional benefits, these products appeal to consumers who are seeking convenience without compromising on skincare. The rise of premium sun care has also led to a greater focus on prevention, with consumers increasingly prioritizing sun protection to combat premature aging, hyperpigmentation, and skin cancer risks. This has resulted in a growing demand for SPF-infused daily moisturizers, makeup, and serums that provide both protection and skincare benefits. Additionally, premium sun care products have pushed consumers to become more informed about SPF levels, ingredients, and reapplication techniques, leading to smarter and more diligent sun protection habits. As consumers look for products that align with their skincare goals, premium sun care is becoming a must-have in the beauty arsenal of individuals who value long-term skin health and protection.
What Factors Are Fueling Growth of the Premium Sun Care Products Market?
The growth in the premium sun care products market is driven by several factors, including advancements in formulation technology, changing consumer preferences, and a growing awareness of skin health. One of the key growth drivers is the increasing demand for multifunctional products that not only protect against UV rays but also offer additional skincare benefits like hydration, anti-aging, and antioxidant protection. Consumers are now seeking out sun care products that fit seamlessly into their skincare routines, offering protection without compromising on luxury or skincare efficacy. Technological advancements in sun care formulations, such as the development of mineral-based sunscreens with transparent finishes or enhanced water-resistant formulas, are further fueling market expansion. Another significant driver is the rising awareness of the harmful effects of sun exposure, including skin cancer, premature aging, and hyperpigmentation. As a result, consumers are increasingly willing to invest in high-quality sun care products that offer reliable, long-lasting protection. Additionally, the clean beauty movement is playing a crucial role in the growth of premium sun care, with consumers gravitating toward products that use natural, non-toxic, and reef-safe ingredients, as well as brands that prioritize sustainable packaging. The focus on environmentally friendly and ethical production practices is becoming an essential factor in consumer decision-making, further driving the demand for premium sun care products. These factors, combined with the broader wellness trend that emphasizes preventive care and skin health, continue to propel the premium sun care market forward.
Select Competitors (Total 36 Featured) -
- Amethyst Wellness
- BebeTei
- Bon Organics
- Cohere Beauty, Inc.
- Crystal Clear International Ltd.
- DermStore
- DewyDerm, Inc.
- Equibal Labs
- Greater Poly Manufacturing Company Limited
- Han Tide Biomedical Corp
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Premium Sun Care Products - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Growing Consumer Awareness of Skin Protection Propels Growth in the Premium Sun Care Products Market
- Increasing Demand for Natural and Organic Ingredients Expands Addressable Market for Clean-Label Sun Care Solutions
- Advances in Broad-Spectrum and High-SPF Formulations Drive Innovation in High-Performance Premium Sun Care Products
- Surge in Demand for Multi-Functional Sun Care Products Here's How It Spurs Growth in Products with Added Skincare Benefits
- Rising Focus on Anti-Aging and Skin Health Strengthens the Business Case for Sun Care Products with Anti-Aging Properties
- Growing Popularity of Water-Resistant and Long-Lasting Formulations Expands Market for Durable Premium Sun Care Solutions
- Increasing Adoption of Eco-Friendly and Reef-Safe Ingredients Fuels Demand for Sustainable Premium Sun Care Products
- Advances in Lightweight and Non-Greasy Textures Propel Growth in Sun Care Products That Offer Comfort and Daily Use
- Rising Consumer Preference for Invisible and Non-White Cast Sun Care Solutions Expands Market for Innovative Premium Formulations
- Growing Focus on Men's Skincare Drives Demand for Premium Sun Care Products Targeted at Male Consumers
- Increasing Focus on Travel-Friendly and Convenient Packaging Expands Market for Portable Premium Sun Care Products
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Premium Sun Care Products Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
- TABLE 2: World Recent Past, Current & Future Analysis for Premium Sun Care Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 3: World Historic Review for Premium Sun Care Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 4: World 16-Year Perspective for Premium Sun Care Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
- UNITED STATES
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 5: USA Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 6: USA Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- CANADA
- TABLE 7: Canada Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 8: Canada Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- JAPAN
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 9: Japan Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 10: Japan Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- CHINA
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 11: China Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 12: China Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- EUROPE
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 13: Europe Recent Past, Current & Future Analysis for Premium Sun Care Products by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 14: Europe Historic Review for Premium Sun Care Products by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 15: Europe 16-Year Perspective for Premium Sun Care Products by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2014, 2024 & 2030
- FRANCE
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 16: France Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 17: France Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- GERMANY
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 18: Germany Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 19: Germany Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- ITALY
- TABLE 20: Italy Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 21: Italy Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- UNITED KINGDOM
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 22: UK Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 23: UK Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- SPAIN
- TABLE 24: Spain Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 25: Spain Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- RUSSIA
- TABLE 26: Russia Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 27: Russia Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- REST OF EUROPE
- TABLE 28: Rest of Europe Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 29: Rest of Europe Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- ASIA-PACIFIC
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 30: Asia-Pacific Recent Past, Current & Future Analysis for Premium Sun Care Products by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 31: Asia-Pacific Historic Review for Premium Sun Care Products by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 32: Asia-Pacific 16-Year Perspective for Premium Sun Care Products by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2014, 2024 & 2030
- AUSTRALIA
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
- TABLE 33: Australia Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 34: Australia Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- INDIA
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
- TABLE 35: India Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 36: India Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- SOUTH KOREA
- TABLE 37: South Korea Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 38: South Korea Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- REST OF ASIA-PACIFIC
- TABLE 39: Rest of Asia-Pacific Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 40: Rest of Asia-Pacific Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- LATIN AMERICA
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
- TABLE 41: Latin America Recent Past, Current & Future Analysis for Premium Sun Care Products by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 42: Latin America Historic Review for Premium Sun Care Products by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 43: Latin America 16-Year Perspective for Premium Sun Care Products by Geographic Region - Percentage Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest of Latin America Markets for Years 2014, 2024 & 2030
- ARGENTINA
- TABLE 44: Argentina Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 45: Argentina Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- BRAZIL
- TABLE 46: Brazil Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 47: Brazil Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- MEXICO
- TABLE 48: Mexico Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 49: Mexico Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- REST OF LATIN AMERICA
- TABLE 50: Rest of Latin America Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 51: Rest of Latin America Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- MIDDLE EAST
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
- TABLE 52: Middle East Recent Past, Current & Future Analysis for Premium Sun Care Products by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 53: Middle East Historic Review for Premium Sun Care Products by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 54: Middle East 16-Year Perspective for Premium Sun Care Products by Geographic Region - Percentage Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets for Years 2014, 2024 & 2030
- IRAN
- TABLE 55: Iran Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 56: Iran Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- ISRAEL
- TABLE 57: Israel Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 58: Israel Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- SAUDI ARABIA
- TABLE 59: Saudi Arabia Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 60: Saudi Arabia Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- UNITED ARAB EMIRATES
- TABLE 61: UAE Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 62: UAE Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- REST OF MIDDLE EAST
- TABLE 63: Rest of Middle East Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 64: Rest of Middle East Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- AFRICA
- Premium Sun Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
- TABLE 65: Africa Recent Past, Current & Future Analysis for Premium Sun Care Products by Segment - Premium Sun Care Products - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 66: Africa Historic Review for Premium Sun Care Products by Segment - Premium Sun Care Products Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
IV. COMPETITION