TAGS: Sun Care
According to a new report by Fact.MR, the global sports sun care market is poised to expand at a CAGR of around 5 percent from 2021 to 2031, with demand for sports sun care lotions remaining the highest across the world.
Demand for Natural Products
Sports sun care products are applied to the skin by sportspersons playing different sports such as extreme outdoor sports, baseball, swimming, and several others. The younger generation is the main target audience for these products across regions.
From 2016 to 2020, the market exhibited a moderate CAGR of around 4 percent, with the sports industry playing a major role in driving demand. Rising production of organic and natural sun care products over the period strengthened the prices of these products.
Awareness About Harmful UV Radiation
This is attributed to the fact that, there has been a surge in awareness about harmful UV radiation. However, in FY2020, due to the COVID-19 pandemic, market growth dipped, owing to demand contraction from the sports industry.
The sports sun care market is projected to expand at a steady rate of around 5 percent CAGR through 2031, providing a promising stance for investors in this space.
The interest in sports sun care products in Asia Pacific is assessed to outperform other areas soon. Searing temperatures that are increasing the frequency of skin infections are fueling sales across regions. Europe and North America hold a significant share of the overall industry at around 61 percent. South America, albeit, on a more slow development direction, is gradually locking in. Inside this region, Brazil is expected to be a lucrative market for sports sun care products over the coming years.
Source: Fact.MR