Apr 29, 2021
Sports Sun Care Lotions to Capture Major Market Share through 2031, Opines Fact.MR
by Team Fact.MR
A lion's share of shoppers are presently influenced towards sports sun care items that are rich in polyphenols, nutrients, and cancer prevention agents. Mindfulness and reasonableness are the two most significant advertising focuses for makers in an industry that is overflowing with promising offerings. While this clamouring market is seeing young spenders with abundant resources, there has been an uptick in interest for normal sun care products as well.
The flourishing organic individual care market is loaded with buyers who are pursuing organic and mineral-put-together sunscreens that are high in titanium oxide and zinc oxide, and without artificial materials - for example, oxybenzone and homosolate. A key pattern that is going about as a main thrust behind the development of sports sun care items is simply multiplication tanning. Items that are auxiliary to self-tanning are being presented incredibly. These revived product offerings pushing the sales of sports sun care products higher across regions.
As per a new report published by Fact.MR, the sports sun care market is anticipated to be valued at approx. US$ 1.9 Bn in 2021, and is poised to expand at a CAGR of around 5% over the next ten years.
Key Takeaways from Market Study
- The sports sun care market is anticipated to add 2.5X value by 2031.
- Sports sun care lotions capture a major chunk, equivalent to two-fifth of the global market share, and are set to create an absolute $ opportunity of around US$ 1 Bn over 2021-2031.
- Among the type of sports, extreme outdoor sports has been the fastest-growing segment for sports sun care products.
- North America is set to dominate market revenue in 2021, and is expected to gain 52 BPS by 2031.
- The market in Germany, China, and the U.S. is expected to rise at around 5% CAGR each through 2031.
“Due to the COVID-19 crisis, demand for sports sun care products was hit in 2020, which saw a decline of 2% over the 2nd and 3rd quarters of the year,” says a Fact.MR analyst.
Conspicuous makers of sports sun care products are expanding ventures on research and improvement to embrace new developments and upgrades of items in order to satisfy the interest of consumers. Assembling organizations are additionally intending to extend their item portfolio presence in different geologies through consolidations, acquisitions, and tie-ups with wholesalers and retailers dealing in sports sun care products.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global sports sun care market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of form (creams, gels, liquids, lotions, sprays, lip balms, sticks, wipes, and others), SPF (SPF 6-14, SPF 15-29, SPF 30-50, and SPF 30+), and sport (extreme outdoor, baseball, swimming, and others) across five major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Consumer Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the Consumer Goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Retail & Consumer Goods
E-mail: [email protected]