Report: Argentina’s suncare market growth to be driven by sun protection category

The suncare market in Argentina is forecasted to grow at a compound annual growth rate (CAGR) of 13.8% in US currency from 2015 to 2020, says a research report from Canadean. The report further highlights that the growth will be steered by the sun protection category, which represents 81.6% of the total market followed by after-sun and self-tan categories.

The ‘Consumer and Market Insights: Suncare in Argentina‘ report details other factors that are expected to influence one of Latin America’s fastest growing markets. The market dynamics are being impacted by the growing consumer awareness regarding the harmful effects of sun on unprotected skin and also the increase in demand for better and high-quality products.

The growth in the suncare market will also be driven by rising per-capita income and a young target audience.

Better value for money and personalised products are the leading trends that influence the Argentinean buyer’s decision-making while purchasing suncare products. The report also suggests that manufacturers and marketing companies should take these behavioural trends into consideration to expand their customer base.

Highlighting the buying pattern of the consumers, the report indicates that more sun protection products are purchased from hypermarkets and supermarkets, offering discounts compared to after-sun and self-tan products that are mainly bought from health and beauty stores. The customers prefer to be advised on their after-sun and self-tan purchases by in-store beauty care assistants.

The market for specialised suncare products, including sun protection cream with moisturising properties or after-sun cream protecting cellular DNA from ultraviolet (UV) rays is also predicted to grow with Argentineans’ increasing preference for specialised products.