Pune, India, July 26, 2019 (GLOBE NEWSWIRE) -- Sun Protection Products Market is poised to touch USD 11,002.34 Million by 2025 at an Impressive 5.31% CAGR during the forecast period (2018-2025), reveals the latest report by Market Research Future (MRFR).
Market Overview
The demand for sun protection products has increased greatly at an incremental pace in the past few years. The cognizance of the damage that UV rays can cause to unprotected skin is a key factor motivating the development of the market. As mentioned in a report circulated by Market Research Future, the sun protection products market is projected to be valued at USD 11,002.34 Million by 2025 while increasing at a CAGR of 5.31% in the duration of the forecast. The availability of various sun protection product forms such as spray, lotion, gel, and cream are motivating the market growth further.
The rising incidence of melanomas is another significant factor motivating the demand for sun protection products. Moreover, the growing presence of industry leaders who are constantly innovating with the products is expected to inspire the progress of the market further. The enhanced emphasis on refined formulations is expected to motivate the sun protection products market in the coming years.
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Key Players and Industry Buzz
The well-known contenders in the Sun Protection Products Market are L’Oreal S.A. (France), Shiseido Co., Ltd (Japan), Johnson & Johnson Services, Inc (US), Revlon, Inc. (US), Avon Products, Inc (UK), Edgewell Personal Care Company (US), Groupe Clarins (France), The Estée Lauder Companies Inc. (US), Lotus Herbals Pvt. Ltd. (India), Amway (US), Procter & Gamble Company (US), Beiersdorf AG (Germany), and Unilever (UK).
June 2019 SC Johnson announced recently that it had finalized an agreement to acquire Sun Bum. The conditions of the deal were not made public, but it is speculated that the company is expected to be assessed at more than $400 million when the sales process commenced. Sun bum has established its presence by selling a line of personal care products comprising of sun protection, lip care, and hair care products. The Sun Bum brand is expected to expand SC Johnson’s robust selection of fast-growing, on-trend products. The deal also consists of Sun Bum and the Baby Bum brand of sun protection and baby care products. VMG Partners supported Sun Bum and supposedly made around $70 million in annual sales according to Pitchbook.
Market Segmentation
The segmental evaluation of the Sun Protection Products Market has been carried out based on distribution channel, SPF range, form, and region. Based on form, the sun protection products market has been segmented into lotion, gel, cream, and others. The lotion segment had dominated the market in 2018, with a market portion of more than 40%. Based on the SPF range, the sun protection products market has been segmented into SPF 50, SPF 15, SPF 30, SPF 70, and others. The SPF 30 segment is responsible for the chief market share in 2018 with a volume of 387.9 million units. Based on the channel of distribution, the Sun Protection Products Industry has been segmented into non-store-based and store-based. The store-based segment has been additionally segmented into convenience stores, supermarkets and hypermarkets, and others. In 2018, the store-based segment was responsible for the greater share, and it is anticipated to reveal a CAGR of 5.28% through the forecast period from 2019 to 2025. By regions, the sun protection products market comprises of North America, Europe, APAC, Central & South America and the Middle East & Africa.
Increased Awareness Of Sun Related Skin Damage To Motivate The Sun Protection Products Market
Browse the market data and Information spread across 266 pages with 431 data tables and 55 figures of the report “Sun Protection Products Market Report - Forecast 2018-2025” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/sun-protection-products-market-8087
The regional examination of the Sun Protection Products Market has been segmented into regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa. As per the analysis, the European region market controls the global market in 2018, together in terms of volume and value. Nations such as France, Italy, and Spain are the main countries in the region, showing an increasing demand for these sun protection products. Though, the Asia Pacific region in the market is likely to be extremely lucrative for the market players throughout the forecast period and is anticipated to list a growth rate of 5.49 %. The countries of Australia and India are the important country-level markets in the region, responsible for the main estimated market shares during the forecast period. The progress of the regional market can be accredited to the increased number of skin cancer cases in some of the countries.
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