Strong Growth Expected in Swedish Suncare Industry: Ken Research

Gurgaon, July 04, 2016: Ken Research announced its latest publication on, “Consumers and Market Insights: Suncare in Sweden”, which included a category-wise coverage of the various products being sold within the Swedish Suncare industry. The publication offers insights into the shape the market is projected to take over the next five years. In addition, the report also includes trends within the distribution and packaging divisions of the Suncare market in Sweden.

In the Suncare products of market of Sweden, Sun-Protection and After-Sun products are projected grow the fastest. In terms of volume, Sun-Protection products will be the fastest growing over the forecast (2015-2020) period. However, in terms of value and pace of growth, After-Sun products will take the lead registering a CAGR of 7.3% during 2015-2020. In addition, research has also revealed that the consumers in Sweden have developed an inclination towards products that are state-of-the-art and technology-friendly. Even in the Suncare products market, companies that introduced creatively and conveniently packaged products reported higher sales than others. Specifically, the use of Bottle containers is forecast to grow at a CAGR of 5.3% during 2015-2020. The leading players in Sweden’s Suncare market are Beiersdorf AG and The L‘Oreal Group.

Overview of Sweden’s Suncare Market

Sweden’s economy has been bolstered by the increasing number of people joining its workforce. This has further resulted in the enhancement of quality of life led by people and demand for products which complement their lifestyle. Such products include cosmetics, luxury apparels and home and décor. Overall, it can be said that there is an increasing trend of self-indulgence amongst the Swedish population. However, the uncertainty of economic conditions is still a huge concern amongst Europeans, and thus people prefer to make smaller purchases such as premium beauty and personal care products as opposed to expensive choices such as home and décor. Consequently, the beauty and personal care industry in Sweden has boomed and especially the Suncare product categories are leading all the way. This report uses Canadean’s Intelligence database to provide valuable insights into which growth categories to target, trends in the usage of packaging materials, types and closures by each category and the brand market shares.

Future Prospects of Sweden’s Suncare Market

With the increasing number of consumers preferring products that can counter the side-effects of leading a professional life, the Suncare products market is expected to register high growth in the upcoming years. However, both consumers and manufacturers need to lookout for any economic turbulences in the EU as the change in macroeconomic environment will directly impact the sales of luxury-products such as suncare and other beauty items. In this regards, the leading players such as L’Oreal are looking at potential launch of suncare products that are less costly but equally effective. This will help the company capitalize on the burgeoning needs of the middle class. Also, most domestic and leading players are also coming out with suncare products which also have additional benefits such as anti-ageing and oil-control. Also, an increasing number of sports enthusiast in the country have created a demand for suncare products that address to specific needs of athletes.

Key Trends Governing Swedish Suncare Industry

· In the past five years, there has been a splurge in the number of manufacturers offering these products. Not only international players, but also a large number of local players have sprung up as there is a demand for organic, natural and fresh products.

· Consumer preferences are also changing in terms of most preferred retail channel. The Swedish population and lifestyle has become ultra-modern and fast, leading to people preferring places where they can fulfill all their shopping needs at once. As a result, Hypermarkets and Supermarkets have become the chosen retail channel for Suncare products accounting for nearly one-third of the overall Suncare products sales.

Corporate Comm India (CCI Newswire)