ID: MRFR/CR/6615-CR | July 2019 | Region: Global | 266 pages
Market Research Future (MRFR) believes that the Sun Protection Products Market can project substantial growth and touch USD 11,002.34 Million by the year 2025. The sun protection products market size is expected to soar at a rate of 5.31% between 2019 and 2025 (appraisal period).
The COVID-19 outbreak has had a mildly negative impact on the sun protection products market, with the temporary shutdown of manufacturing facilities and weakened demand. Amidst the continuous efforts to curb the spread of SARS-CoV-2, leading companies are striving to bolster their supply chains and accelerate their operations to control further losses. Additionally, with the gradual lifting up of the lockdown across countries and the novel coronavirus under control, the global market for sun protection products should be able to recover quickly in subsequent years.
Sales Fostered by Growing Cases of Skin Cancer and Other Issues
The sun protection products industry is significantly boosted by the growing awareness among people about the toxic effects of the UV rays and the rising need to address the same. UV rays are known to lead to severe skin damage that includes dark spots and wrinkles, which can ultimately boost skin cancer progress. Overexposure to these rays also cause inflammation of cornea as well as conjunctiva and could even foster cataract development. Sun protection products are therefore witnessing strong demand as these provide a protective shield by making a layer on the skin, thereby reflecting the rays from the surface.
Furthermore, product innovation and promotional campaigns across various countries also fuel the market growth for sun protection products. Manufacturers are progressively launching new products that can cater to the evolving tastes of the well-informed consumers in the global market. Manufacturers are constantly developing sun protection products that have a higher number of refined formulations, and extra skin care benefits along with better texture. These products are easy to apply and give additional coverage and protection against sun rays as well as pollution, which helps foster their demand among consumers.
Soaring Consumer Preference for Anti-Aging Products to be a Prime Opportunity
Accelerated consumer preference for sun protection products that have anti-aging benefits has emerged as a significant opportunity for the leading firms. Players are also using antioxidants in their products to prohibit DNA damage by preventing free radicals that result in wrinkles and aging.
Inclusion of Harmful Chemicals in Products to Weaken Sales
Presence of harmful ingredients like octinoxate, oxybenzone, titanium dioxide and homosalate in sun protection products can discourage the sales in the near future. The fat that these chemicals cause endocrine disruption, hormone disruption, contact allergies and organ system toxicity can prove to be quite challenging for the companies to sustain the consumer demand.
Lotion Form-Based Sun Protection Products Witness Highest Demand
Form-wise, the market has been considered for cream, lotion, gel, and more. The lotion segment has been leading the market since the year 2018 with a share of over 40%. Millennials and generation Z are increasingly opting for sun protection lotions as these are easy to apply and boast of natural ingredients that bolster the skin’s appearance.
SPF 30 Range Secures the Leading Spot
With respect to SPF range, the sun protection products market caters to SPF 15, SPF 30, SPF 50, SPF 70, and others. The SPF 30 segment has stayed on top since 2018 with 387.9 million units of volume in the market.
Non-Store Based Distribution Channels to Record a Strong CAGR
Non-store-based and store-based are the major distribution channels listed in the MRFR study. The store-based channels are convenience stores, supermarkets and hypermarkets, and more. In 2018, the top position was clinched by the store-based segment, which is also slated to record an expansion rate of 5.28% between 2019 and 2025.
Europe to Make Stunning Progress
The European market has been in the lead since 2018, in terms of both volume as well as value. Italy, Spain and France are the top contributors in view of the escalating rigorous marketing campaigns as well as promotions by the players to boost brand awareness. The high popularity of social media channels is leveraged by the companies that are trying to reach out to a higher number of consumers.
Asia Pacific to be a Highly Attractive Market Over the Review Period
Asia Pacific is touted to be a highly lucrative market for sun protection products in the near future, and can gain a growth rate of 5.49% over the given period. Australia and India stand at the vanguard of the APAC market, driven by frequent product innovations by leading firms combined with the growing scope of sun care products among people focused on body care and skin care in the countries.
Firms Focus on Catering to Changing Consumer Tastes with New Launches
The sun protection products industry is rife with new launches by the top firms that aim to appeal to the evolving consumer preference and demands. Innovative toothpastes with more features (higher SPF) and benefits are launched, aided by smart marketing, which not only favor the global market but also intensify the competition between players. Companies mostly work on bolstering their R&D budgets to widen their global reach and boost their toothpaste market share. A few other strategies generally employed by the firms include partnerships, collaboration and merger.
List of Key Companies Covered in this Report
The report overview presents an exhaustive sun protection products market analysis, outlining the sun protection products market share and the estimated sun protection products market size. The report has assessed the top challenges, barriers and drivers affecting the market size. MRFR outlines the base year, projected period as well as the size during the given period. The market study also comprises some of the key developments post the COVID-19 outbreak and the effects of the novel coronavirus and the subsequent lockdown on the market. The report also throws light on the emerging middle east sun care companies as well as sun protection manufacturer that could witness growth in the coming years. Besides, the well-known companies sun protection products industry and the strategies they adopt to remain competitive are also provided by the MRFR report.
Scope of the Report
The scope of the report covers a number of key segments including various sun protection products for hair, dermalogical sun protection products, vendor for sun protection products in certain countries and regions, top sun protection products as well as the best sun protection hair products available in the market along with the demand rate for hair care products for sun protection.
Global Sun Protection Products Market, By Form
Global Sun Protection Products Market, By SPF Range
Global Sun Protection Products Market, By Distribution Channel
Frequently Asked Questions (FAQ) :
sun protection products market is expected to touch a value of USD 11,002.34 million by 2025.
sun protection products market is expected to register a CAGR of 5.31% from 2019 to 2025.
Awareness of harmful effects of UV rays, development of skincare products, and promotional strategies by brands are major drivers of the global sun protection products market.
Harmful effects of chemicals in sunscreen products can hamper the global sun protection products market.
The APAC region can display a CAGR of 5.49% from 2019 to 2025 due to massive demand from customers in India and Australi
Johnson & Johnson Services, Inc, L’Oreal S., Amway, Lotus Herbals Pvt. Ltd., Procter & Gamble Company, Unilever, Groupe Clarins, Avon Products, Inc, Shiseido Co., Ltd, Revlon, Inc., Edgewell Personal Care Company, Beiersdorf AG, and The Estée Lauder Companies Inc. are major players of the global sun protection products market.