New research from Euromonitor highlights how the sun care market is hotting up
The global sun care market is proving to be a red hot category, with new data from Euromonitor forecasting growth of 6.4% to 2018. Sun care accounts for 2% of the worldwide beauty and personal care market, valued at US$454bn in 2013. And its predicted growth propels the sun care sector into the top five growth categories in the global market.
However this is a category that also faces many challenges. Sunscreen usage amongst consumers remains relatively low, at just under 50% for both men and women, according to Euromonitor, despite the rising level of knowledge and awareness of the detrimental effects of sun damage.
Other challenges for sun care manufacturers include formulating products with advanced and novel ingredients, while new findings, such as the ageing impact of electro-magnetic radiation on the skin are placing greater demands for new generation products.
In today's beauty market, where multifunctionality is key, sun care products are also expected to offer skin nourishment and anti-ageing ingredients as well as UV protection, while skin care and colour cosmetics products are expected to offer UV protection.
Oru Mohiuddin, Senior Analyst, Beauty and Personal Care at Euromonitor, believes that the line between sun care and other beauty categories is growing more and more blurred: “Skin care has been increasingly adopting sun care attributes, while sun care is retorting back by looking to invade skin care opportunities," says Mohiuddin. "The overlap between skin care and sun care, however, only forms part of the story, as skin care is now flirting with colour cosmetics, with claims that it can blur blemishes and imperfections within seconds, while colour cosmetics is taking on skin care, with offers to address lines and various other signs of ageing. Similarly, sun care is also demonstrating its ambitions in categories beyond skin care including colour cosmetics and hair care."
Euromonitor will be discussing these, and further findings in its keynote presentation at the in-cosmetics Online Conference, Spotlight on Suncare, on Tuesday 24 February 2015, 15:00-17.00 (CET). To register, visit www.brighttalk.com/webcast/9633/144695