Sun Protection Products Market Pegged to Grow at 7% CAGR; Demand Slumps During Covid-19 Pandemic Owing to Travel Restrictions

Sun protection product manufacturers are increasingly investing in the development of prebiotic and probiotic formulations to leverage consumer bias towards natural sun care options.

ROCKVILLE, MD / ACCESSWIRE / July 23, 2020 / The sun protection products market is expected to grow with a promising 7% CAGR through 2030. The Fact.MR report states that the current outbreak of coronavirus will moderately impact the sun protection products market in the near term. Lockdown restrictions on travel and the growing popularity of work from home practices will hurt demand in the near future.

“Growing awareness about sun protection products for skin care and preventing skin cancer, are key factors that will drive demand in the market once the coronavirus pandemic dies down. Skin care supplements are also gaining traction owing to ease of administration,” says the Fact.MR analyst.

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Sun Protection Products Market – Important Takeaways

• Multifunctional sun protection products with anti-aging properties are popular, with the advent of antioxidant enriched formulations.
• Cream variants of sun protection products account for major revenue share owing to widespread product availability.
• North America and Europe are prominent sun protection products markets owing to higher spending on cosmetic and personal care products.

Sun Protection Products Market – Driving Factors

• Extensive commercial promotion activities and resultant consumer awareness on sun protection products is a key growth factor.
• Increasing recommendations by healthcare professionals to prevent damage from UV rays is supporting demand.
• The transition towards natural or organic formulations will generate key lucrative opportunities in the years to come.

Sun Protection Products Market – Leading Constraints

• The high influx of low-priced spurious products in the sun protection market significantly hinders market growth.
• Product limitations against UVA rays remains a key challenge for market players.

Anticipated Market Impact by Coronavirus Outbreak

The coronavirus is expected to negatively affect the sun protection products market, as government lockdown measures have resulted in lesser outdoor excursions, and has encouraged work from home practices. These factors have reduced the demand for sun protection products in the near term. On the other hand, the growth of the e-commerce platforms during the pandemic is helping to partially mitigate the losses arising from the covid-19 outbreak.

Explore the global sun protection products market with 185 figures, 112 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/140/sun-protection-products-market

Competition Landscape

Leading producers in the sun protection products market are Beiersdorf AG, Loreal SA, Services Inc., Unilever plc, Johnson & Johnson, and Procter & Gamble. Major manufacturers are focusing on product development and launches with differentiating characteristics. For instance, Lotus Herbals has revealed a range of sweat and water-proof sun protection products.

More on the Report

The FACT.MR’s market research report provides in-depth insights on sun protection products market. The market is scrutinized according to type (sun care products, after sun products, and self-tanning care products), form (creams, gel, lotion, powder, wipes, spray, natural oil, and others), ingredient (ecamsule, avobenzone, oxybenzone, titanium dioxide, zinc oxide, natural oils, and others), packaging (sticks, tubes, bottles, and others) consumer orientation (male, female, and unisex), and distribution channel (modern trade, convenience store, departmental store, professional salons, drug store, specialty stores, online stores, and others) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).

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