According to a new market report published by Lucintel, the future of the global UV filter market for personal care products looks very promising with opportunities in organic and inorganic UV filter. The global UV filter market for personal care products is expected to reach an estimated $672 million by 2021 and it is forecast to grow at a CAGR of 3.1% by value from 2016 to 2021. The major drivers of growth for this market are increasing awareness of consumers about the potentially harmful effects of UV rays and strong demand for anti-aging products.
In this market, organic and inorganic UV filters are used. On the basis of its comprehensive research, Lucintel forecasts that the inorganic UV filter is expected to show above average growth during the forecast period.
Within the global UV filter market for personal care products, the organic UV filter is expected to remain the largest market. There has been increased usage of UV filters in sun care products because organic UV filters absorb the ultraviolet light and convert it into a small amount of heat. UV filters are also compatible with inorganic ingredients, which would spur growth for this segment over the forecast period.
By application type, skin care is expected to remain the largest market due to growing health awareness regarding sunburn damage. Increase in penetration of organic UV filters in other applications like hair care, lip care and, eye care is expected to spur growth for this segment over the forecast period.
By ingredient type, ethylhexyl methoxicinnamate (EHMC) is a widely used ingredient in the UV filter market. UV filters protect skin from sunburn and protect cosmetics and personal care products from deterioration caused by UV rays, which are the major drivers for growth of this segment.
Europe is expected to remain the largest market due to harsh climate conditions and better consumer education on the importance of sun protection.
The APAC region is expected to witness significant growth over the forecast period because of the rise in population and in disposable income; also, there is higher awareness about health and fitness, especially in India, China, Indonesia, and South Korea.
For business expansion, the report suggests innovation and new product development to produce UV filters which have excellent transparency, outstanding dispersing properties, and better functional benefits for the end user. The report further suggests the development of partnerships with customers to develop user friendly UV filters for sun care products.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of nano particles in the manufacturing of UV filters; these filters give a transparent look and do not leave white residue on skin. BASF, DOW Chemical Co., Merck & Co., Evonik Industries AG, Royal DSM, Ashland Inc., Symrise AG are among the major suppliers of the
UV filter market for
personal care products.
Lucintel, which is a leading global strategic consulting and market research firm, has analyzed the global UV filter market for personal care products by UV filter type, ingredient type, application type and region, and has written a comprehensive research report entitled “
Global UV Filter Market for Personal Care Products 2016-2021: Trends, Forecast, and Opportunity.” The Lucintel report serves as a springboard for growth strategy because it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global UV filter market for personal care products by UV filter type, ingredient type, filter application type, and by region as follows:
By UV filter type (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
· Organic
· Inorganic
By UV filter ingredient type (Volume (M lbs) shipment analysis for 2015):
· EHMC
· BMBM
· ZNO
· TiO2
· OCR
· HMS
· Others
By UV filter application type (Value ($M) shipment analysis for 2015):
·
Skin care · Hair care
· Others
By region (Value ($M) shipment analysis for 2010 – 2021):
· North America
· Europe
· Asia Pacific
· Rest of the World
This 100-page
research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link
http://www.lucintel.com/uv_filter_for_personal_care.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global
Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis,
opportunity analysis,
Growth Consulting, M&A, and
Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions: Q. 1. What are some of the most promising, high-growth in the global UV filter market for personal care products by UV filter type (organic and inorganic, by ingredient type (EHMC, BMBM, ZnO, TiO2, OCR, and HMS) and by region (North America, Europe, APAC, and ROW)?
Q. 2. Which product segment will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q. 11. What M & A activities have transpired in the last 5 years in this market and what impact have these activities had on the industry?