Global Sunscreen Market - Forecasts from 2023 to 2028

The global sunscreen market is projected to grow at a CAGR of 5.21% to reach US$15.716 billion in 2028 from US$11.016 billion in 2021.

Sunscreen is a skincare and healthcare product used to protect the skin against the harmful rays and radiations emitted by the sun. The supply side of the global sunscreen market consists of companies specializing in the production of dermatological pharmaceuticals, consumer health, and personal care products. Consumers could purchase sunscreens either on their own or as per a dermatologist’s prescription. The global sunscreen market consists of sunscreens with varying formulations, textures, and SPFs. The Sun Protection Factor (SPF) is a measure of the effectiveness and intensity of the sunscreen against blocking dangerous rays. Depending on the climatic conditions of a country and their skin type, the customers opt for different SPF levels and types of sunscreen.

A key factor driving the global sunscreen market is the efficiency of sunscreens as a measure to prevent skin cancer and skin burns.

The usage of sunscreens on a daily basis helps avert the risk of skin cancer. The rising global average temperatures, an increase of pollutants in the air, and the depletion of the ozone layer have the potential to enhance the damage caused to the skin. The UNEP declared that 2021 was one of the warmest years of planet Earth and that every year, the global annual average temperature of the Earth increases by 0.08 degrees Celsius. In addition to this, according to a health survey conducted by the World Health Organization, 1,198,073 people are suffering from non-melanoma skin cancer across the globe in 2020. The everyday application of sunscreens has proven effective to increase the probability of avoiding the risk of skin cancer. Dermatologists across the globe emphasize the application and re-application of sunscreen on skin exposed to the outer world. Apart from skin cancer, sunscreens are effective in preventing skin burns and skin tanning. In addition to shielding the skin from the damage of harmful UV rays, pharmaceutical, and retail sunscreens are also formulated to improve the overall health of the consumer’s skin. Therefore, the proficiency of sunscreens in hindering the risk of skin cancer and other sun-caused skin concerns will act as a market driver for expanding the global sunscreen market over the forecasted period.

The research into the hostile effects of sunscreens on coral reefs and marine species could hinder the fast growth of the global sunscreen market.

According to scientific research, the ingredients commonly used in chemical sunscreens have the potential to damage coral reef ecosystems and are resistant to treatment procedures. In addition to this, there have been incidents of the detection of these ingredients in water sources and have the potential to cause biomagnification in marine species. Therefore, these factors have the potential to slow down the rapid growth of the global sunscreen market however, the rising global demand for sunscreens is likely to overcome these factors.

Key Developments in the Global Sunscreen Market

In December 2022, a Korean cosmetics company, Purito introduced its new sunscreen, which was formulated based on the customer’s suggestions through the “Create Me” campaign.

In July 2022, the Indian sunscreen market received its first powder sunscreen addition to its market from the mCaffeine Company. Apart from the powder sunscreen, the company also launched a new sunscreen lotion, with caffeine as one of the key ingredients in both products.

In May 2022, Eucerin Company announced the launch of its new product line of sunscreens. This product line contains four different sunscreens, including sunscreen for kids.

The North American region has large potential in the global sunscreen market and is expected to grow significantly during the forecast period.

North American countries are experiencing significant growth in the rising demand for skincare and sunscreen products. Apart from domestic sunscreen products, North American countries like the USA are witnessing a demand for foreign skincare and sunscreen products as well. For instance, some of the popular Korean skincare brands facing high demand include Laniege, Cosrx, Innisfree, and Glow Recipe, whereas Makanai and Hado Labo are Japanese companies witnessing high demand in the USA. In addition to this, the increasing awareness of skin cancer prevention and the harmful effects of sun rays on the skin is further increasing the consumption of sunscreens in North America. Therefore, considering the high demand and import of other region’s sunscreen products into North American counties such as the USA, it can be said that the North American sunscreen market promises a greater market share in the global sunscreen market over the span of the next few years.

Market Segmentation:

By Type

• Mineral
• Chemical

By Texture

• Creams and Lotions
• Gels
• Sticks
• Sprays
• Powders

By Application

• Face
• Body

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• South Korea
• Japan
• India
• China
• Australia
• Others