Press release
Sun Care Products Market Assessment and Key Insights Analyzed Till 2030
Global demand for sun care products witnessed a decline in 2020, but the long-run prospects continue to be positive, according to a study by Future Market Insights (FMI). The study opines that the market can see pre-COVID level activity in 2019.FMI analysts opine that organic – which has made deep inroads into many F&B and cosmetics categories – is also making a mark in the sun care products landscape, with many consumers diligently checking labeling to know the ingredients.
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The market has witnessed steady growth in the past few years, especially on the account of active ingredient incorporation, and the development of multifunctional formulations, which not only protect the user from the sun but also provide skin lightening and anti-aging characteristics, which are also likely to boost growth.
FMI’s report offers an exhaustive overview, covering key market dynamics. Some of the takeaways from the report include,
• Market valued at US$ 11 billion, with demand slowing down during the coronavirus pandemic
• Sun care creams expected to remain highly sought-after on the back of the easier application, and potential for optimized skin nutrition profiles
• Sales of sun care products higher in women as compared to men
• US and EU4 key to growth. However, many countries in the Asia Pacific are displaying highly lucrative opportunities for manufacturers for geographical expansion.
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By Segmentation:
Product Type
• Creams
• Lotions, Gels, & Oils
• Others
Nature
• Organic
• Conventional
End-User
• Male
• Female
• Kids
Sales Channel
• Wholesalers and Distributors
• Online Retailers
• Hypermarkets and Supermarkets
• Pharmacy Stores
• Specialty Stores
• Convenience Stores
• Others
Regional Outlook
• North America (U.S., Canada)
• Latin America (Mexico, Brazil, Rest of LATAM)
• Europe (Germany, U.K., France, Italy, Spain, Rest of Europe)
• East Asia (China, Japan, South Korea)
• South Asia & Pacific (India, Thailand, Malaysia, Indonesia, Australia & New Zealand, Rest of South Asia)
• Middle East & Africa (GCC Countries, Israel, South Africa, Rest of MEA)
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Competitive Analysis:
In its study, FMI has scrutinized the different strategies deployed by major companies participating in the sun care products market. Leading market players are focused on the development of novel formulations and strategic geographical and capacity expansion with acquisitions being a major area of focus.
Some of the key players in the market include Johnson & Johnson, Shiseido Company Limited, Beiersdorf AG, Loreal SA, The Procter & Gamble Company, Unilever, The Estee Lauder Companies Inc., Lotus Herbal Pvt. Ltd., Avon Products Inc., and Bayer AG, among others.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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