Sun Protection Products Market, Top Key Players, Industry Analysis & Forecast By 2029

Posted on 2019-09-25 by Mark Hub in Retail // 0 Comments

Competition Landscape Analysis: Sun Protection Products Market

While market leaders like Unilever PLC, L’Oréal S.A., and P&G have remained focused on maintaining a broad-range, strong portfolio of offerings, the study reveals that market challengers, such as Kao Corporation, and Avon Products, Inc., among others are strategizing on stronger production capabilities and overseas presence. It has been observed that a sizeable number of regional and local players remain among the consumers’ favorites, majorly owing to competitive price points and accessibility.

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In resonance with the thriving trend of multi-functionality, brands are likely to direct a sizably large portion of their investments to research & development of novel products that deliver multiple benefits, including anti-aging, tinting, and moisturizing, thereby saving consumers on costs and time. Leading companies are investing more in R&D and introducing innovative sun protection products, that provides multiple skin benefits such as hydration, acne control, dark spot removal and spot correction.

While SPF has been the lasting and most practical norms for formulating skin care and related products, companies active in the sun care products market are investing efforts in stretching the functionality of their offerings beyond the SPF rim. This, in turn, is seemingly squeezing the traditional sun care regime, recently.

Top brands are introducing a brand new SPF generation products range that also covers a diverse range of benefits to skin, sun protection being the foremost one. This particular scenario is being observed in the markets for sun protection products in Western European region, marking the notably growing resilience of the overall sun protection products industry. The sun protection products market is further witnessing a more diverse strategic outlook, with new launches targeting different consumer demographics, such as infants, toddlers, adolescents, millennial, adults, those with tattoos, and unisex, among others.

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Growing Focus on R&D

In sun protection products market, some market players are focused on attracting specific consumer base and conducting rigorous R&D about perfecting their product formation to suit the target consumers’ skin type. Companies have also launched various types of packaging that suits consumers’ needs. Among others, the stick packaging type is trending amongst millennials.

With widespread availability of a wide variety of product types and forms in the sun protection products market, smaller players are noticing the market opportunity and are targeting towards providing products at a lower price range to best suit the needs of the developing markets, which have a high proportion of low-income groups.

Additional Insight on Sun Protection Products Market

‘South Asia-East Asia-Oceania’ – The Lucrative Cluster

Europe, North America, and Latin America continue to represent the key markets for sun protection products sales. Europe, despite being a high market maturity region, will continue to thrive at a promising rate through the next decade. The ‘South Asia-East Asia-Oceania’ cluster, with ~47% revenue shares, is however developing a stronger market outlook for stakeholders in the sun protection products industry. The growth of sun protection products market in Latin America and Middle East & Africa has been surprisingly healthy over the recent past, and will continue to reflect high attractiveness over the years to come.

Research Methodology

This Fact.MR study is the result of an exhaustive primary and secondary research, which delivers ample insightful information on the historic, current, and futuristic state of the industry, covering the global sun protection products market. The combined research offers comprehensive insights based on our industry-based intelligence, which provides deep-dive information about the multiple aspects related to the global sun protection products market over the forecast period of 10 years, 2019-2029. Our two-step research methodology and a unique approach combine to craft a valued report that includes actionable insights on product categories, pricing structure, innovations, trends, opportunities, market challenges, and competitive developments.

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About Us

Fact.MR’s methodology is robust and comprehensive. We employ a range of tools and assets to develop an all-encompassing coverage of a range of industries. We compile data points at local, country, regional, and global level – our approach to capturing the finest nuances, without losing sight of the bigger picture helps us in developing accurate and reliable forecasts and estimates.

Fact.MR has a standard set of guidelines and standards that help maintain a level of consistency across all of our research offerings. The standardization includes step-by-step documentation of the methodologies and guidelines on the sources that are to be used for incorporation of objective and accurate data.

The standardization also involves use of industry-wide analytical tools, and rigorous quality checks to validate market forecasts and sizes. Our unwavering focus on standardization ensures that clients receive the same quality of research and analysis that Fact.MR is known for.

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