Sun Protection Is Driving Growth for Sun Care Products
LONDON, UNITED KINGDOM--(Marketwire -07/09/12)- Euromonitor announced today the publication of a new global report dedicated to developments in the global sun care industry. According to the market research company's report, Evolution and Prospects in Global Sun Care: Key Solar Hot Spots, sales of sun care products globally reached US$9.3 billion in 2011. While Western Europe remains the largest market for sun care products, Latin America is showing dynamic growth primarily driven by Brazil.
Brazil's rapid growth could make the Latin American region a future contender for the number two spot globally, replacing Asia-Pacific. The number one position, however, will continue to be held by Western Europe through 2016. Consumers globally are increasingly aware of the dangers of sun damage, and are looking more for products with sun protection properties.
"Sun protection is driving growth for sun care products, and the merging of skin care properties with sun protection is supporting a distinct global trend towards high factor sun protection," said Irina Barbalova, global head of beauty and personal care research at Euromonitor International.
As detailed in the report skin care products are increasingly incorporating sun protection properties, while, conversely, sun care products are offering skin care benefits, such as anti-ageing and moisturising.
"In the race to compete against other categories and brands, a common tactic for manufacturers is to launch products that offer as many different functions as possible," added Barbalova. "In consumers' eyes, having an SPF is no longer enough."
According to the report, Nivea has done this successfully and continues to reinvent itself. The brand continues to evolve and has consolidated its position as the world's leading sun care brand. It also enjoys very high consumer trust.
Forecast growth provided in Euromonitor's global sun care report indicate that sun protection will continue to be a driving force in the global sun
Brazil's rapid growth could make the Latin American region a future contender for the number two spot globally, replacing Asia-Pacific. The number one position, however, will continue to be held by Western Europe through 2016. Consumers globally are increasingly aware of the dangers of sun damage, and are looking more for products with sun protection properties.
"Sun protection is driving growth for sun care products, and the merging of skin care properties with sun protection is supporting a distinct global trend towards high factor sun protection," said Irina Barbalova, global head of beauty and personal care research at Euromonitor International.
As detailed in the report skin care products are increasingly incorporating sun protection properties, while, conversely, sun care products are offering skin care benefits, such as anti-ageing and moisturising.
"In the race to compete against other categories and brands, a common tactic for manufacturers is to launch products that offer as many different functions as possible," added Barbalova. "In consumers' eyes, having an SPF is no longer enough."
According to the report, Nivea has done this successfully and continues to reinvent itself. The brand continues to evolve and has consolidated its position as the world's leading sun care brand. It also enjoys very high consumer trust.
Forecast growth provided in Euromonitor's global sun care report indicate that sun protection will continue to be a driving force in the global sun