Boston, MA -- (ReleaseWire) -- 07/18/2014 -- As a result of widespread information about damages caused by the sun and stronger concern about skin beauty, Venezuelans increased sun protection in 2013. Many consumers now see sun protection as a daily need instead of something to use in the event of having very long sun exposure. In this regard, higher SPFs are now preferred. Joined to relevant demand growth, firms raised prices of sun care products, especially in sun protection, and thus average unit prices increased by 70%. Since the government does not control prices of sun care, beauty and personal care companies took advantage of the growing consumer interest to have higher unit prices.
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Beiersdorf continued to lead sales in 2013 with its Nivea Sun brand and 48% value share in 2013. This name enjoys strong recognition amongst consumers and is widely available at stores. Buyers find a varied portfolio with several SPFs and lines. It offers mainly sun protection but also aftersun products. The Nivea Sun umbrella brand has Hidratante with 50 SPF to moisturise besides protecting from sun; Protect & Bronze with 30 SPF to enjoy both protection and tanning at once; Light Feeling with a softer, lighter texture in 30 and 50 SPF; Bronceador to bronze with only 2 SPF and natural ingredients that activate and maintain a long-lasting tan; and the Aftersun lotion.
More frequent use of sun protection will benefit sales over the forecast period. Consumers will be increasingly worried about sun damage over health and skin beauty. Wider availability of information through internet and other media will make consumers more conscious about potential damage that unprotected exposure to sun can cause. As a result, middle- and upper-income consumers will drive volume growth from 2013 to 2018, particularly in sun protection. Under this context, sun protection will perform as the highest growth category with a value CAGR of 4% (at constant 2013 prices).
Discover the latest market trends and uncover sources of future market growth for the Sun Care industry in Venezuela with research from Euromonitor's team of in-country analysts.
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The Sun Care in Venezuela market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
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Our market research reports answer questions such as:
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Product coverage: Aftersun, Self-Tanning, Sun Protection.
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