Sun Protection Products Market Forecast For Incremental CAGR Growth By 2022

Fact.MR has recently publicized a new study to its vast repository, which is titled as “Sun Protection Products Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”. In this report, the global Sun protection products market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

Sun protection products are available in gel, spray, lotion or other topical formula that either reflect or absorb some of the sun’s ultraviolet (UV) radiation. These products are largely used for protecting oneself against sunburn. Regular use of sun protection can also slowdown the process of skin aging as well as momentarily prevent the development of wrinkles.

In many ways, sun protection products are more than just a sun blocking lotion. The American Cancer Society has suggested that use of sun protection products can reduce the risk of squamous cell carcinomas. However, a number of sun protection products available in the market may not come with UVA radiation protection. In several cases, primary cause of photodermatitis and melanoma has been linked with extreme exposure to UVA radiation. Sun protection products are normally labeled and rated with sun protection factor (SPF) that dilutes the fraction of UVA present in sun rays that reach the skin. For instance, “SPF 15″ refers to 1/15th of the burning radiation that reach the skin.

Demand for sun protection products usually peaks during the summer season, as consumers particularly the female section seek for the best cosmetics products to protect themselves from sunburn and intensified UV rays. To an extent, sale of sun protection products is subjected to seasonal climate change and consumer preference for alternative products. Therefore, cosmetic brands are now trying to close the gap between sun care and skin care by introducing multipurpose sun protection products. Fact.MR’s latest study projects that the global sun protection products market will increase at a CAGR of 5.6% between 2017 and 2022 to reach a valuation of US$ 13,464.9 Mn. Moreover, growing popularity of natural and organic sun protection formula as well as the universal desire to remain young and attractive is driving innovation in beauty and wellness products.

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Sun Protection Products to Remain Highly Sought-After in the Market

Towards the end of forecast period, around US$ 5,675.7 Mn worth sun protection products are expected to sold worldwide. In terms of revenue, sun protection products currently account for more than one-third share of the market. Further, highlighting the use of natural and herbal ingredients in sun protection products remain a key branding strategy for manufacturers, which creates a positive image of the product on the consumer’s mind.

Hypermarket/supermarket will Remain the Leading Distribution Channel for Sun Protection Products

Based on distribution channel, hypermarket/supermarket will continue to be an attractive distribution channel for sun protection products. Mushrooming of hypermarket/supermarket in emerging markets such as China and India is helping the global sun protection products market gain further momentum. Hypermarket/supermarket can accommodate huge stocks of wellness products including sun protection products and also making them easily available to consumers. In recent years, online retails stores have also emerged as a lucrative distribution channel as many of the younger generation of consumers prefer to shop online. By 2022-end, the online sales segment is expected to reach a market valuation of US$ 2,879.4 Mn, reflecting a CAGR of 5.1%.

Global Sun Protection Products Market- Regional Overview

Among regions, Asia-Pacific excluding Japan (APEJ) is expected to remain at the forefront of the global sun protection products market. APEJ’s sun protection products market revenue is anticipated to increase at a CAGR of 6.4% during the forecast period. This is primarily owing to rising disposable income in the many of the emerging countries in the region. Moreover, the economic growth in APEJ is leading to higher standards of living, which in turn is driving the desires of maintaining oneself better in terms looks and health. Markets in Europe and North America are expected to exhibit positive growth. Revenue from North America sun protection products market is anticipated to increase at a CAGR of 5% over 2022. Meanwhile, Latin America is also expected to account for a significant revenue share of the market during the forecast period. By 2017-end, the region is likely to command for 21.3% market share in terms of revenue, possibly gaining 15 BPS in its market share by 2022.

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Following projections from Fact.MR’s report on the global market for sun protection products are expected to outline the market’s future prospects

1- Demand for sun protection products will continue to be higher than suntan and other sun block products. Over US$ 5,675 Mn worth sun protection products are estimated to be sold by the end of 2022. Currently, sun protection products command for over one-third revenue share of the global market. Cosmetic brands are emphasizing on herbal and natural ingredient owing to increasing concerns over side-effects from use of sun protection products that are prepared from synthetic chemicals.

2- Hypermarket/supermarket has emerge as the top distribution channel for sun protection products. Increase construction of hypermarket/supermarket in emerging countries such as India and China is allowing the global market for sun protection products to gain further momentum. Huge stocks of wellness items including sun protection products can be stored in hypermarket/supermarket giving consumers the option to select form a range of different sun block products. Online retail stores are also a key distribution channel for sun protection products as a large portion of the young population chose to shop online. The online sales segment is projected to surpass a market valuation of US$ 2,879 Mn, registering 5.1% CAGR.

Competition Tracking

The report has also profiled prominent manufacturers of sun protection products in the global market, which include Johnson & Johnson, L’Oréal S.A., Avon Products, Inc., Kao Corporation, Shiseido Co.,Ltd, Unilever PLC, Mary Kay Inc., The Procter & Gamble Company, Christian Dior SE, and Beiersdorf Aktiengesellschaft.

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This release was published on openPR.