Global Sun Protection Product Market Insights:
Prior to Covid-19 outbreak, the demand for specialized skin care products was witnessing significant growth. The forecasted growth for sun protection products is pegged at a CAGR of nearly 7% from 2020-2030. The market of sun protection products highly depends on China who is a significant supplier of active ingredients used in these products.
However, due to COVID-19 impact, existing demand for sun protection products has experienced a dip In the United States, sales declined by nearly 20% by the end of March 2020 owing to prevalence of work from home conditions. Despite this, some of the players like Caroline Goldstein, Shiseido and others are still focusing on launching a wide range of sun protection products for face amid COVID-19 to maintain their presence in the market.
Global Sun Protection Product Market Trends
In recent years, players of the sun protection products market have shifted to natural oil ingredients as a solution with an interest to attract emerging consumer markets that prefer organic products. Moreover, the availability of natural oils commonly extracted from carrot seeds, coconut oil, raspberry seeds, and several other natural products provides cheaper raw material solutions and a better margin. With rising inclination of millennials and generation Z towards natural sun protection products, the market is poised to exhibit an absolute $ opportunity of nearly US $ 1.3 Bn during 2020-2030.
Global Sun Protection Product Market Manufacturers
The rising demand for sun protection creams with anti-aging effects has bolstered the market growth of sun protection products. The market of sun protection products is not limited to application on sun-exposed areas of the bodies as presently companies have been working on sun protection supplements. Asia is a significant market for oral or edible sunscreen products.
Moreover, players in the market are focusing on the use of antioxidants to prevent DNA damage by stopping free radicals that lead to aging and wrinkles. The use of probiotics and prebiotic products has sustained the market of organic sun protection products. In 2020 companies like DSM have been collaborating with startups to make probiotic products based on microbiome technology under the Gut-brain axis approach.
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Global Sun Protection Market Regional Insights:
North America and Europe presently account for nearly 1/3rd of the global sun protection product consumption, owing to a large number of people suffering from sensitive skin issues and rising demand for clean beauty trends. However, East Asia and South Asian markets are among the most lucrative regions in the market and are expected to grow at a CAGR of nearly 8% during 2020-2030, owing to rising pollution concerns in the region as nearly 85% of the population faces this problem. Moreover, per capita spending in this region is expected to increase in markets like China, India, Japan and Indonesia owing to higher expenditure on sun protection products for hair and skin.
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COVID-19’s impact on Sun Protection Market
North America has seen a significant drop in demand for sun protection products as customers are maintaining social distancing, thus reducing the number of visits to cosmetic shops. However, some of the segments like baby care, oral care, and skin care creams are expected to grow. Company efforts to maximize demand for the products through teledermatology has been emerging as a short term solution for the market.
Under an optimistic scenario, the impact of COVID-19 will reduce by the end of the second quarter, thus stimulating positive growth in the market. Under the probabilistic approach, the market is expected to witness minimal to moderate impact of COVID-19 by the end of third-quarter under the extension of the lockdown period in many regions. However, under the pessimistic approach, the demand will significantly drop, owing to decreased per capita spending in established as well as emerging markets.
Analyst viewpoint:
“The ease in availability of sun protection products containing, different active physical-chemical and biological ingredients for different skin requirements is likely to fuel the sun protection product market.”
Global Sun Protection Product Market: Scope of the Report:
The recent global sun protection product market report by Fact.MR offers a 5-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities and threats to the expansion of the global sun protection product market. A detailed segmental analysis, based on product type, form, ingredient, packaging, consumer orientation, distribution channel and regions, has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global sun protection product market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the sun protection product market.
Global Sun Protection Product Market – Scope of the Report
Sun protection product market is anticipated to witness a notable upsurge during the forecast period 2020 to 2030, conferring to a new Fact.MR study. The study promotes crucial trends that are presently determining the growth of sun protection product market. This newly published and perceptive report sheds light on vital dynamics, which are likely to convert the future of sun protection product market, in turn generating worthwhile opportunities for key companies as well as evolving players who are interested in the manufacturing of sun protection product market.
Sun protection product market study is a detailed market intellect on key revenue progression factors, challenges, industry trends, and opportunities, which will eventually influence the growth of sun protection product market. The report primarily conveys a summary of the sun protection product market, considering present and upcoming sun protection product market industry scenarios, to reveal striking sides relating to the acceptance of sun protection product market across prominent regional markets.
A detailed assessment on few of sun protection product market raw material suppliers accessible in the report allows the report readers to obtain detailed findings that have resulted from sun protection product market supply chain analysis, business execution, and value chain analysis across the regional markets incorporated in the report. A list of prominent companies functioning in sun protection product market provided in the report enhances reliability of this ample research study.
Sun Protection Product Market: Report Summary
Study offers a comprehensive overview on diverse features that are inducing demand, revenue generation and sales in sun protection product market across the globe.
A comprehensive estimate on sun protection product market has also been made accessible by the experts, who have considered the market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario regarding sales of sun protection product market during the forecast period. Analysis and estimation of price point comparison by region and by product with the global average price has been included in this study.
Sun Protection Product Market: Segmentation
FactMR’s study has done the segmentation of sun protection product market on the basis of product type, form, ingredients, packaging, consumer orientation, distribution channel and across 7 regions.
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Sun Protection Product market: Analysis on Market Size Evaluation
Predictions of sun protection product market, encompassing current as well as forthcoming projected values estimate and analysis on region-wise demand trends and price index have been assimilated in the report.
Market estimates at the regional and global scale for sun protection product market are available in terms of “US$ Mn.” A Y-o-Y growth contrast on prominent sun protection product market segments, along with the market attractiveness valuation computes understandings brought in the report. Metrics mentioned above are also followed based on sun protection product market applications where sun protection product market witness a steady demand.
Sun Protection Product market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on sun protection product market, which delivers projection on the regional markets. These chapters brighten the regional macros (political economic, and business environment outlook), which are expected to have a significant impact on the growth of sun protection product market during period of forecast.
Country-specific valuation on demand for sun protection product market has been offered for each regional market, along with the market scope estimate and forecast, price index, price point assessment, and impact analysis of dynamics of prominent regions and countries. For all regional markets Y-o-Y growth estimates have also been incorporated in the report.
Sun Protection Product market: In-depth Analysis on Competitive Landscape
The report ends with a section on the competition scenario of sun protection product market, along with the profiles of major companies contributing to the market expansion. Essential and up-to-date data as well as information correlated to the market performers, who principally engage in the production and supply of sun protection product market, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to plan preemptive steps to advance their businesses.
Company profiles have been shared with report, which exerts essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player recognized along with the company policies identification and analysis. The company presence mapped and presented through the matrix for all the prominent players of the market functioning in sun protection product market offers readers with actionable intellect, which helps in thoughtfully presenting the market status, and making decisive predictions on the competition levels in sun protection product market. Major companies operating in sun protection product market are, L’Oréal S.A., Unilever PLC, Procter & Gamble, Kao Corp., Johnson & Johnson Services, Inc., Avon Products, Inc., Christian Dior SE, Beiersdorf AG and several others.
Impact of Covid-19 on Sun Protection Product market
The report includes a scenario based assessment of impact of Covid-19 across key regions for all four quarters of 2020. The report discusses the market forecast under optimistic, probabilistic and pessimistic scenario. Under the three scenarios, the demand loss and recovery has been illustrated and described through L-shaped and U-shaped recovery curves. Alongside, the Covid-19 impact has been benchmarked with previous crisis including sub-prime crisis, Eurozone crisis and SARS pandemic.
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Sun Protection Products Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030