Global Sun Care Cosmetics Market Size, Share, Growth Analysis, By Product Type, By Formulation, By Distribution channel, By SPF range(low SPF, medium SPF ) - Industry Forecast 2024-2031

Global Sun Care Cosmetics Market size was valued at USD 11.59 billion in 2022 and is poised to grow from USD 12.10 billion in 2023 to USD 17.08 billion by 2031, growing at a CAGR of 4.4% during the forecast period (2024-2031).

The surge in popularity of sun care cosmetics stems from their myriad benefits, notably shielding against UV radiation, catering to diverse preferences with a wide product range, surging demand, constant innovation, global reach, and product diversification. Sun care products, including sunscreens and protective lotions, play a crucial role in safeguarding the skin from sunburn, premature aging, and potential skin malignancies caused by UV exposure. With an expanding market, companies have the opportunity to diversify their offerings to meet varied consumer needs, catering to sensitive skin, hydration requirements, age-specific SPF levels, and activity-specific formulations. Moreover, ongoing research into UV effects allows companies to tap into emerging trends by incorporating anti-aging properties, antioxidants, and other skin-enhancing elements into their sun care formulations, further solidifying their appeal and market presence.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Sun Care Cosmetics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Sun Care Cosmetics Market Segmental Analysis

Global Sun Care Cosmetics market is segmented on the basis of Product type, formulation, SPF range distribution channel, End-user, and region. By Product type, the market is segmented into Creams, lotions, gels, sprays, and others. By Formulation, the market is segmented into Organic, inorganic, combination formulations, and others. By Distribution channel, the market is segmented into Online, offline and others. By SPF range, the market is segmented into low SPF (less than 15), medium SPF (15 to 30), high SPF (30 to 50), and very high SPF (50+), and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Sun Care Cosmetics Market

The rise in awareness of the harmful effects of UV rays, including skin cancer, premature aging, and sunburns, is prompting consumers to seek out suncare products that provide not only sufficient protection against the sun's damaging rays but also additional benefits such as hydration, anti-aging properties, and environmental sustainability. With increased education about the importance of sun protection, people are becoming more discerning about the ingredients in their suncare products, preferring formulas that are free from harmful chemicals like oxybenzone and octinoxate, which have been linked to coral reef damage. This shift towards more conscientious suncare choices has led to a surge in demand for mineral-based sunscreens containing ingredients like zinc oxide and titanium dioxide, which offer broad-spectrum protection without harming marine ecosystems.

Restraints in the Global Sun Care Cosmetics Market

Sun care products play a crucial role in protecting the skin from the harmful effects of UV radiation. However, concerns have been raised regarding the safety of certain active ingredients commonly found in these products. For instance, oxybenzone, a chemical UV filter, has been scrutinized due to its potential hormonal-disrupting properties and its ability to accumulate in the environment, posing risks to marine life. Similarly, octinoxate, another commonly used UV filter, has raised concerns about its potential adverse effects on coral reefs and marine ecosystems.

Market Trends of the Global Sun Care Cosmetics Market

Multifunctional suncare products are indeed gaining traction in the beauty industry. With the growing awareness of the importance of sun protection, consumers are looking for products that not only shield their skin from harmful UV rays but also provide added skincare benefits. In line with this trend, brands are incorporating innovative ingredients like antioxidants, hyaluronic acid, and vitamin C into their formulations to offer not just protection but also hydration, wrinkle reduction, and skin tone correction.