Prime Challenges and Prospects in Sun Care Category, 4 Prime Markets to Gain Major Share

Published By : 18 Jan 2016 | Published By : QYRESEARCH

Sun care products witness a slow growth in 2014 owing to decreasing demand from Western Europe and stagnancy in North America. Sun protection products’ addition provides advantages to color cosmetic products and skin care. Further penetration in numerous new markets will help in the sales of sun care and it may touch a value of US$11.3 bn in 2019. In terms of market value, China and Brazil will lead in the development of the market, however, the Middle East and Africa as well as Southern Europe will remain as prime markets for the players investing in sun protection.

In 2014, sun care had reached approximate sales of US$9.8 bn but it is poised to remain as a small category and will acquire a meager share of 2% in the skin care market. Key prospects and challenges witnessed by this category are as under:

  • 4 Chief Markets to Gain Major Share: More than 50% of the sales value will remain within four prime markets of China, the U.S., Brazil, and South Korea. This may actually prove to be challenging for the sun care brands owing to the fact that China and Brazil are predicted to have a sluggish growth and the U.S market for sun care products will decline as well as South Korea will witness a sluggish growth in the forecast period starting from 2014 to 2019.
  • Other Alternatives Including Sun Care to Pose a Negative Effect on Category Growth: The growing popularity of CC/BB creams and the addition of sun protection within anti-agers, moisturizers, and a number of other makeup products has resulted in sun protection products being used on certain specific occasions instead of being a part of consumers’ daily need. This may pose a negative effect on the growth of this category. 
  • MEA, Southern Europe, and Asia to Stay as Major Opportunity Areas: In spite of the political and economic turmoil, Southern Europe not including Italy is able to growth by 2014 and is predicted to maintain its development by 2019. On the other hand, Asia Pacific and MEA will develop less talking in terms of sun care.

Though the value growth will keep slowing down by the end of 2019, still consumption growth is poised to rise in the coming years owing to consumers’ shift to cheaper options as well as robust promotional offers by retailers.

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