ASIA-PACIFIC millennials’ concern about sun damage offer innovation opportunities for sun-care market, a study by market research firm GlobalData Plc. revealed.
According to GlobalData, its research on innovation trends and opportunities in the Asia Pacific sun-care market has highlighted how millennials’ concern about sun damage and the negative impact it can have on their appearance is making them interested in buying more sun-protection products more often.
GlobalData said it based this conclusion after comparing the attitude of millennials—defined as 18 to 34 year olds—with older generations’ concerns about sun damage. The firm said its research found that 81 percent of millennials expressed concern over sun damage, compared to less than three-quarters (74 percent) of over-35s, from the region.
“While the negative health impacts of sun damage are well understood in Asia Pacific, and have been for many years now, another key driver for sun-care solutions has been the growing acceptance of sun exposure as an accelerator to the aging process and cause of appearance-related damage,” GlobalData Associate Analyst Matthew Perry said.
In the same research, nearly two-thirds of Asia-Pacific millennials (64 percent) said they are already buying or would consider buying products that address their concern over sun damage, compared to 56 percent of over-35 year olds. This indicates that younger consumers in the region are highly conscious of the negative health and aging implications of ultraviolet rays, and also more interested in buying products that protect them from the sun’s damaging effects.
“In addition to its health-related purpose, sun protection now serves a cosmetic function, becoming an integral part of daily beauty regimes, especially among younger consumers who are now increasingly appearance-conscious due to social media,” Perry said.
Many beauty producers are looking to win over these consumers through multifunctional products, such as “Blemish Balms” and “Color Correcting” creams, that have sun care benefits inbuilt into their formulations, to allow for more convenient and more effective protection.
GlobalData said its “Innovation Trends and Opportunities in Sun care” report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by the firm’s team of industry experts.
