19 Jun 2024
Lotus Herbals plans to expand its range of sun protection products to cement its position in this category and benefit from the excellent growth rate that it is expected to have. The sun protection segment in India expanded at 20% in 2023 and is expected to grow at a CAGR of 7.1% between 2024 and 2028.
Lotus Herbals plan to increase product offerings in this segment, improve R&D, and have startegic partnerships along with better quality and innovation. According to Lotus Herbals Chairman and Managing Director, Nitin Passi, the brand plans to capitalise on technology and trends to better its market share and boost the sun care segment to greater heights.
In April 2024, the brand launched UltraRx Sunscreen Serum SPF 60++++. This new product works well on the multi-functional requirements of the skin with better UV protection and a water-based effective formula. Passi added that this product was developed keeping in mind the current trends of having a soothing ingredient in sunscreens along with the consumer affinity towards multi-functional, organic and natural products. The brand wants to offer its consumers innovative advanced protection with lightweight, fast-absorbing capability using intense hydrating ingredients such as cica and hyaluronic acid. He added that more such formats are in the pipeline.
