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:
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.