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What are the Emerging Trends in the Sun Care Products Market?
Skin care products are essential to protect skin from significant U.V. radiations. The rising concern for melanoma and non-melanoma skin cancers boosts the growth of the sun care product market. The rising cases of sun damage and adverse effects due to overexposure to sun propel the growth of the sun care products industry. The rising disposable income also propels the growth of the sun care products industry. The increasing demand for multifunctional products that offer sun care products with other benefits like anti-aging stimulate the growth of the sun care product market. On the flip side, various entry barriers in the sun care products industry hinder the growth of the sun care products industry. The entry barriers include huge initial investments and strict government regulations regarding the ingredients used in sun care products. Moreover, research and development in sun care products create opportunities for the growth of the sun care products industry.
What is the Size of Sun Care Products Market Segment?
The sun care products industry is segmented on the basis of type, form and distribution channel. The type segment includes sun protection, self-tanning, and after sun. Sun protection segment is further classified into SPF 6-14, SPF 15-30, SPF 30-50, and SPF 50+. Sun protection products hold a dominant share in the sun care products industry. On the basis of forms, the sun care products industry is divided into creams, gel, lotion, liquid, wipes, spray, and other forms. Based on the distribution channel, the sun care products industry is classified into online channels, specialty stores, supermarkets, drug stores, pharmacies, and retail stores.
Region-Wise Performance of Sun Care Products Market
Geographically, North America is expected to have a dominant share in the global sun care product industry. North America has a well-established healthcare infrastructure. The rising preventive measures against skin cancer in the United States contribute to the growth of the sun care product market in the North America region. Asia-Pacific region is anticipated to grow in the global sun care product market.
What are the New Developments in the Sun Care Products Market?
Overexposure to ultraviolet light affects skin health. Companies are producing sun care products in different forms that can be convenient to use. The major players in the sun care products market are Beiersdorf AG, Coty Inc., Groupe Clarins, Johnson & Johnson, Shiseido Co. Ltd., L’Oreal, Bioderma Laboratories, Estée Lauder Companies Inc., Unilever, Shiseido, and other companies. The key players are focusing on mergers, acquisitions, and new product launches. For instance, Beiersdorf AG has entered into the world’s largest sun care product market with the acquisition of the iconic Coppertone brand from Bayer. Coppertone was the first sun care products brand launched in the United States.
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