The report provides a review of the mergers and acquisitions, partnering deals and agreements entered into by companies active in the global suncare market.
The global suncare market with a range of products including sun protection, after-tan and self-tan items has been encountering slow growth. However, though the economic growth of this segment decelerated in 2013 from a growth rate of 6% to 5%, the industry continues to progress smoothly. One of the key reasons cited has been the tough competition that the segment has been facing from the facial makeup and skin-care market. Additionally, the segment has seen a number of crucial mergers and acquisition, which has had a positive impact on the market. Of the many M&As, Emilia Personal Care has recently acquired the assets of Pharma Pac LLC - the new company is referred to as Emilia Resources LLC, which manufactures various sun-care items, cosmetics, and other consumer-based pharmaceutical items.
The report: Global Suncare Market: Mergers and Acquisitions April 2014 discusses the market drivers, key regions and challenges which threaten the market as well as the significant mergers and acquisitions that have propelled the industry forward.
Factors which drive the market
During the last five years, the global suncare market has been motivated by its multifaceted nature -consumers are attracted to products which are not time-consuming, are convenient and reasonably-priced. The introduction of new SPF-enriched suncare items, which also have an element of skincare in them, particularly in Western European markets has been driving up the sales. In the global market scenario, research indicates that suncare products with high SPF have a higher demand as compared to regular suncare items. Another noticeable trend has been that of specialized products that are skin-friendly and especially designed for children – baby suncare products are earning large revenues in this industry, today.
Regions that lead the market
China, USA and Brazil are some of the regions which boast of maximum consumption of suncare items. Latin America and the Asia-Pacific regions comprising India, Mexico and Indonesia are quickly following suite, where the markets have shown a steady growth.
Challenges in the suncare market
The suncare market has been suffering from slow growth in the markets of Western Europe and given that these are some of their largest marketplaces they are in urgent need of restoration. Industry experts have cited that the middle-class regional customers of this part of the world are reducing their number of vacations, when the consumption of suncare items significantly goes up. Studies also suggest that a key reason for reduced consumption is that brand loyalties in this segment have gone down and people are preferring cheaper items as well as utilizing lesser quantities of suncare items they buy. Manufacturers are now faced with the challenge of creating specialized, niche products but at reasonable prices.
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Global Suncare Market, Suncare Industry Research, Merger and Acquisitions