Sunscreen Cosmetics Market Size, Industry Analysis Report By Form (Cream, Gel, Lotion, Liquid, Sprays, Lip Balm, Wipes), By Sports type (Extreme Outdoor, Baseball, Swimming), By Price (High/Premium, Medium, Low) & Region – Forecasts By 2030
- PUBLISHED ON
- 2024-09-27
- NO OF PAGES
- 263
- CATEGORY
- Retails & Consumer
Sunscreen Cosmetics Market is predicted to attain a valuation of USD 3 billion in 2030 from USD 1.7 billion in 2020. The industry, fueled by various growth inducing factors will further expand with a CAGR of 5.6% over 2022-2030.
The increasing prevalence of skin ailments caused by excessive sun exposure along with growing health and appearance consciousness of the masses are primarily augmenting the outlook of this business vertical.
Also, growing R&D activities in the field, increasing income levels of the masses, and surging technological innovations in the field are adding momentum to the progression of this marketplace.
Moreover, the booming cosmetics sector, increasing pollution levels, and surging efforts of industry players to develop highly efficient products in the field are creating lucrative opportunities for the business sphere to prosper.
On the contrary, fluctuating prices of sunscreen based cosmetics along with the growing occurrences of skin allergies are hindering the remuneration scope of this industry vertical.
Sunscreen cosmetics are referred to as the types of photo protective topical products that are applied to on the skin to protect it from the harmful effects of sunrays. It mostly absorbs the toxic UV rays and prevent sunburns and other skin conditions.
Sunscreen Cosmetics Market- Key Trends
Beneficial characteristics of sunscreen cosmetics is escalating their demand
Sun screen based cosmetics are equipped with numerous beneficial properties. Their ability to absorb harmful UV radiation from sun rays prevents deadly ailments like skin cancer. Moreover, they also reduce signs of aging and damage caused by excessive exposure to the sun. These factors are adding traction to the development of this industry sphere.
Rising adoption of organic sunscreens to bolster market growth
There has been an elevating demand for organic sunscreen based cosmetics across the globe. This is predominantly powered by the growing health and environment consciousness of the masses. Moreover, increasing trends of veganism has further increased the adoption or organic sunscreens. Therefore, industry players are emphasizing on to developing and launching sunscreen based cosmetics made of natural and eco-friendly ingredients. This in turn is stimulating the overall dynamics of this market vertical.
Sunscreen Cosmetics Market- Segmental assessment
By Form
• Cream
• Gel
• Lotion
• Liquid
• Sprays
• Lip Balm
• Wipes
By SPF
• SPF 6-14
• SPF 15-29
• SPF 30-50
• SPF 50+
By Sports type
• Extreme Outdoor
• Baseball
• Swimming
• Others
The extreme outdoor segment is slated to generate significant returns by 2030 as individuals playing extreme outdoor sports need effective sun protection.
By Price
• High/Premium
• Medium
• Low
The medium segment is poised to amass notable gains owing to their affordability.
Sunscreen Cosmetics Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, Asia Pacific is reckoned to lead the market in terms of revenue share over the forecast duration of 2022-2030.
Sunscreen Cosmetics Market- Competitive Hierarchy
The prominent players characterizing the competitive terrain of this market vertical are Johnson & Johnson, L'Oreal, Unilever, Proctor & Gamble, Beiersdorf, Revlon, Shiseido, Estee Lauder, Clarins Group, Kao Corporation, Pierre Fabre Dermo-Cosmetique, Kanebo Cosmetics, Origins Natural Resources, and Chanel International B.V.
Report scope
Sunscreen Cosmetics Market: Historical Years- 2018-2021
Sunscreen Cosmetics Market: Forecast Years- 2022-2030
Sunscreen Cosmetics Market 2020- USD 1.7 billion
Sunscreen Cosmetics Market CAGR- 5.6%
Sunscreen Cosmetics Market 2030- USD 3 billion
Key Segments Covered-
• By Form (Cream, Gel, Lotion, Liquid, Sprays, Lip Balm, and Wipes)
• By SPF (SPF 6-14, SPF 15-29, SPF 30-50, and SPF 50+)
• By Sports type (Extreme Outdoor, Baseball, Swimming, and Others)
• By Price (High/Premium, Medium, and Low)
Major Regions and Countries Reported-
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Quality Assurance Process
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Market Research Process
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global sunscreen cosmetics market is predicted to attain a valuation of USD 3 billion in 2030 from USD 1.7 billion in 2020. The industry, fueled by various growth inducing factors will further expand with a CAGR of 5.6% over 2022-2030.
What are the drivers shaping various markets?
Sun screen based cosmetics are equipped with numerous beneficial properties. Their ability to absorb harmful UV radiation from sun rays prevents deadly ailments like skin cancer. Moreover, they also reduce signs of aging and damage caused by excessive exposure to the sun. These factors are adding traction to the development of this industry sphere.
Who are the key competitors of market Players?
Some of the major players operating within the market are Johnson & Johnson, L'Oreal, Unilever, Proctor & Gamble, Beiersdorf, Revlon, Shiseido, Estee Lauder, Clarins Group, Kao Corporation, Pierre Fabre Dermo-Cosmetique, Kanebo Cosmetics, Origins Natural Resources, and Chanel International B.V.
What are the top performing segments, and countries / regions of each of the markets?
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and Latin America. Among these, Asia Pacific is reckoned to lead the market in terms of revenue share over the forecast duration of 2022-2030.
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