Facial skincare continues to lead demand for blue light protection ingredients market, accounting for 40% of total demand, according to a latest study by Future Market Insights (FMI). The study also finds that demand for organic blue light protection products are growing briskly, creating space for new market entrants. The new study tracks blue light protection ingredients consumption in over 20 countries, analyzing key prevailing factors in high-growth markets.
Demand for blue light protection ingredients remained subdued for a long time, owing to low awareness and scant research. However, in the last five years, growing body of evidence has linked excessive smartphone usage to a number of health issues. According to a new research report published by Harvard University in July, 2020, blue light suppresses melatonin twice as long as the green light along causing skin damage. As the proliferation of electronics with screens and energy-efficient lighting is increasing the exposure to blue wavelengths, consumers are looking at appropriate solutions.
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Key Takeaways
- Global blue light protection ingredient market to grow at 8% CAGR through 2030
- Solid/semi-solid ingredient demand higher than liquid ingredients
- Demand for organic variant increased to 36% of total consumption in 2020
- Germany, UK, France, Italy, and US among epicenters of global demand
“The increase in usage of electronic gadgets starting from smart phones to laptops is resulting in higher exposure of our skin to the blue lights emitted from these devices. For instance, according to the National Statistics of the United States, ~88% of people in the U.S use PC/laptop, while ~75% people use smartphones and this rate is expected to rise further through 2030. This increasing adoption of electronic gadgets is anticipated to further expand the global blue-light protection ingredients market in the near future,” says an FMI analyst.
COVID-19 Impact Analysis
The COVID-19 pandemic has resulted in decline in growth of the key end-use industries of the market such as cosmetics, skincare, and others. The outbreak of the pandemic has shifted the focus of the consumers towards more emergency services including health, wellness, and others.
Furthermore, the manufacturing units have come across various hurdles such as scarcity of raw materials, unavailability of enough manpower, and others. As most of the manufacturing hubs were closed for long during the lock down, the growth of the market has declined substantially earlier this year.
However, with the commencement of vaccination and adoption of the ‘new-normal’, the market is expected to get back on track and expand further in the coming years.
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Who is Winning?
The global blue-light protection ingredients market is getting stricter in terms of competition with the passing years. In order to leverage the new opportunities, the key market players are emphasizing on launching of more quality products.
For instance, BASF Group launched its new range of blue-light protection ingredients such as DN-Aura®, Neurobiox®, Phytosoothe®, and others which are inspired by plant defense strategies in the year 2019
RAHN AG launched its new extensive range of blue-light protection ingredients such as CELLIGENT®, MYRAMAZE®, and others in the year 2020
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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