Technavio: Private label gaining market share in global sun care product category

According to a new research report released by Technavio, London, three key emerging trends are predicted to positively impact global market growth of sun care products through 2020: product innovations through technological advancement, demand for private label brands and use of nanotechnology in product development.

With technological advancements, sun care products are able to offer multiple benefits such as anti-aging, hypoallergenic and intense skin repair properties. By introducing technologically advanced formulations, sun care vendors are able to charge premium prices for their products. In addition, vendors are also launching products for specific target groups such as women living in regions with humid climates, children and athletes, according to the May report, titled "Global Sun Care Products Market 2016-2020."

These same vendors are facing competition from private brands. Store brand products are undercutting the retail prices of national brands and reducing their market share by offering consumers products at affordable rates. Alliance Boots' brands, for example, have been gaining popularity in European countries and in the United States, Technavio states.

The use of nanoparticles in sun care products is another key trend emerging in the market. Nanotechnology is the process of manipulating materials at a molecular or atomic scale. Nanoparticles are used to enhance beauty products, especially sun care and anti-aging products. The technology makes use of small particles of titanium dioxide and zinc oxide to provide better protection from UV radiation and to give a smoother texture to the skin as compared to regular products. Many vendors such as L’Oréal and Shiseido are using nanoparticles in their sun care products to give a premium appeal, Technavio says.