Technavio's latest report on the global UV filters market in personal careprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global UV filters market in personal care from 2017-2021. (Graphic: Business Wire)
The growing anti-aging product market will drive the demand for the global UV filters market in personal care. Increasing demand for anti-aging products with UV filters, such as skin care and hair care creams, shampoos, hair colors, and oil will lead to growth in the global UV filters market in personal care. The increasing aging population (493.2 million across the world in 2016) will also drive the global UV filters market in personal care.
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The top three emerging trends driving the global UV filters market in personal care according to Technavio research analysts are:
- Rise in demand for anti-aging hair care products
- Emergence of multifunctional products and UV absorbers
- Introduction of nanoparticles in UV filters
Rise in demand for anti-aging hair care products
"The key competitors are launching anti-aging hair care products like shampoos, conditioners, serums, and volumizers. For instance, the Cremer Care Argan Oil by CREMER OLEO repairs damaged hair and keeps the hair shiny. They are also investing in developing advanced and affordable products to attract consumers," says Jujhar Singh, a lead analyst at Technavio.
A variety of customized products is launched in the global anti-aging hair care market to cater to the demand from various customer segments. Individual needs vary due to the unique texture of hair. To overcome this problem, the key market competitors offer products for dry, oily, and damaged hair. A variety of hair care products helps in increasing hair volume and improving hair growth. For instance, L'Oréal's L'Oréal Paris Fall Repair 3x and L'Oréal Paris Total Repair 5 are some of the key offerings that repair damage, breakage, and dry hair. These products also provide protection from pollution.
Emergence of multifunctional products and UV absorbers
"Multifunctional products are in high demand by consumers who do not wish to spend money on numerous products. For instance, Garnier has introduced its Skin Renew Miracle Skin Perfector Anti-Aging BB Cream. It is an all-in-one purpose cream that can be used as a serum, moisturizer, primer, foundation, and sunblock. Products that can hydrate, fix hyperpigmentation, and have antioxidants are highly popular among consumers," adds Jujhar.
There is a demand for UV absorbers as these protect the skin from UV rays. At present, UV absorbers are used as one of the major ingredients in many anti-aging products like lotions, moisturizers, and gels. The high demand for anti-aging products with UV absorbers is expected to drive the global UV filters market in personal care.
Introduction of nanoparticles in UV filters
Nanostructured materials and nanoparticles have unique properties and hence are now used in manufacturing UV filters. These nanoparticles are used in cosmetic products due to the active ingredients and UV filtering.
Zinc oxide (ZnO) and titanium dioxide (TiO2) are used in sunscreens as it prevents UV damage to the skin. The nanoparticles are more efficient than the larger particles as it reduces residue loss and removes unwanted items in the sunscreen.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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