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The sun care products market share is expected to increase by USD 4.83 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.18%.
This sun care products market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sun care products market segmentation by product (sun protection products, after-sun products, and self-tanning products), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and MEA). The sun care products market report also offers information on several market vendors, including Amorepacific Group Inc., Amway Corp., Beiersdorf AG, Coty Inc., Edgewell Personal Care Co., Groupe Clarins, Johnson and Johnson Inc., LOreal SA, Shiseido Co. Ltd., and The Estee Lauder Co. Inc. among others.
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The product innovation and product line extension is notably driving the sun care products market growth, although factors such as the availability of counterfeit sun care products may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sun care products industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Sun Care Products Market Driver
Product innovation and product line extension are some of the key factors driving the global sun care products market growth. This market requires continuous innovations as there has been a significant increase in the demand for natural and high-quality products that can also address other skin concerns such as anti-aging. Moreover, the increase in the disposable income of the middle-income population especially the working class of women has fueled the demand for premium sun care products that can keep the skin moisturized for a longer period of time. Availability of these premium products coupled with rising in spending power will drive the growth of the market in focus during the forecast period.
Key Sun Care Products Market Challenge
Availability of counterfeit sun care products is one of the key challenges to the global sun care products market growth. Low-quality counterfeit BPC products can cause serious skin problems. Price-sensitive customers are attracted to these products due to their low price compared to the products by key vendors. In addition, many consumers buy these fake products as differentiating between counterfeits and real products is difficult because counterfeit products are copied from original products, which affects the market penetration and profit margins of key vendors. Counterfeit sun care products contain petrochemicals, parabens, and other harmful chemicals, which harm the skin of consumers and the brand's name. Such factors are expected to negatively impact the growth of the market in focus during the forecast period.
This sun care products market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the sun care products market encompasses successful business strategies deployed by the key vendors. The sun care products market is fragmented and the vendors are deploying growth strategies such as product differentiation and business expansion in emerging markets to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The sun care products market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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33% of the market's growth will originate from Europe during the forecast period. Germany, France, and UK are the key markets for sun care products in Europe. However, the market growth rate in this region will be slower than the growth of the market in South America and APAC.
The significant increase in the demand for premium-priced and multifunctional sun care products will facilitate the sun care products market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The sun care products market share growth by the sun protection products segment will be significant during the forecast period. This high number is attributed to the awareness among consumers about the benefits of using sun protection products. Amorepacific, Coty, Johnson & Johnson, Beiersdorf, Estée Lauder Companies, and L?Oréal are launching high-quality products in the form of lotions, sticks, and sprays which will further increase the demand for sun care products during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the sun care products market size and actionable market insights on post COVID-19 impact on each segment.
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Sun Care Products Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.18% |
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Market growth 2021-2025 |
$ 4.83 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.70 |
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Regional analysis |
Europe, North America, APAC, South America, and MEA |
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Performing market contribution |
Europe at 33% |
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Key consumer countries |
US, China, Germany, France, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Amorepacific Group Inc., Amway Corp., Beiersdorf AG, Coty Inc., Edgewell Personal Care Co., Groupe Clarins, Johnson and Johnson Inc., LOreal SA, Shiseido Co. Ltd., and The Estee Lauder Co. Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution channel
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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