ROCKVILLE, Maryland, Aug. 23, 2019 /PRNewswire/ -- It has been observed that increasing consumer awareness associated to the harmful impacts of UV-rays together with issues like premature aging, skin cancer etc., are influencing the demand for sun protection products quite significantly. In order to understand the various future projections across the global sun protection products market, Fact.MR has published a new study titled "Sun Protection Products Market Forecast, Trend Analysis & Competition Tracking: Global Market Insights 2019 to 2029". This study highlights that the target market is likely to gain significant pace with the growing need for protection from intense UV-rays, particularly in regions which are highly exposed to the sun.
As per this intelligent report, global sales of sun protection products reached ~1 billion units in 2018. It is expected the global market for sun protection products in 2019 will exhibits sales higher by ~5%. Such promising potentials are primarily driven by escalating sales of high-to-moderate SPF sun-care products; they currently acquire~75% in the total sales volume, details Fact.MR. This assessment delivers vital market aspects such as opportunity assessment, key market trends, GDP growth outlook, market dynamics, value chain analysis etc.
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New Markets with Multifunctional Offerings Likely to Push Opportunities
The report reveals that demand for sun protection products offering additional benefits like dark spots reduction, anti-blemish and anti-aging, are expected to increase in the near future. Hence, innovation of beauty products and wellness is projected to replicate a positive impact on the global sun protection products market. In addition, swelling aspiration of consumers to look younger and attractive is expected to create higher demand across the global sun protection products market.
Preference for Natural & Organic Ingredients Influencing Market Growth
The popularity of organic and naturally produced personal care items is surging at the global level. Among these, sun protection products exhibit higher demand, especially the ones made out of raspberry seed oil, carrot seed oil and hazelnut oil. The customer base for these organic and naturally derived products is enhancing and is expected to push growth across the protection product market.
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Investments in R&D Favoring New Product Innovation
Focusing on the sun protection products market, there are several players which are primarily working to attract a specific consumer base via rigorous R&D towards perfecting their product category. Furthermore, companies are also moving towards the launch of various types of packaging which suits the consumers' needs. On the other hand, smaller players are concentrating to boost their market opportunity by providing products at a lesser price range in order to sync with the developing markets, which hold a high percentage of low-income groups.
As the report concludes, readers can receive information related to the competitive landscape. This section talks about the prime market players such as Unilever PLC, L'Oréal S.A., and P&G, Kao Corporation, and Avon Products, Inc. etc., which have been analyzed in terms of product portfolio, segment financials, sales footprint, SWAT analysis and key strategies. The report mentions that a prominent number of regional and local players have acquired substantial fame among consumers, majorly due to accessibility and competitive price points.
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