Global Sun Protection Market 2023–2032 (2023)

Reports Description

As per the current market research conducted by Custom Market Insight Team, the global Sun Protection market is expected to record a CAGR of 4% from 2023 to 2030. In 2023, the market size is projected to reach a valuation of USD 13.11 billion. By 2030, the valuation is anticipated to reach US$ 21.05 billion.

The sun protection market refers to the industry that provides products designed to protect the skin from the harmful effects of the sun’s UV (ultraviolet) radiation. These products include a range of sunscreen lotions, sprays, and creams that help prevent sunburn, skin aging, and skin cancer caused by UV rays.

The sun protection market caters to consumers of all ages and skin types, with varying levels of SPF (sun protection factor) and other ingredients to meet different skin care needs. In addition to traditional sunscreens, the market also includes products such as sun-protective clothing, hats, and sunglasses.

Sun Protection Market – Significant Growth Factors

The sun protection market is expected to experience significant growth in the coming years, driven by several key factors, including:

• Rising incidence of skin cancer: The increasing prevalence of skin cancer caused by exposure to UV radiation is driving demand for sun protection products. Consumers are increasingly aware of the need to protect their skin from harmful UV rays, leading to higher demand for sunscreens and other sun protection products.

• Growing awareness about skin aging: Exposure to the sun’s UV rays can accelerate skin aging and cause fine lines, wrinkles, and other signs of aging. This has led to a growing demand for anti-aging sun protection products that can help prevent or reduce these effects.

• Increasing popularity of outdoor activities: Outdoor activities such as sports, hiking, and camping are becoming more popular, leading to higher demand for sun protection products. Consumers are looking for products that can provide long-lasting protection during extended periods of outdoor activity.

• Technological advancements in sun protection products: Advances in technology have led to the development of more effective and innovative sun protection products. For example, the use of nanoparticles and other advanced materials can improve the efficacy of sunscreens and provide better protection against UV radiation.

• Growing demand for natural and organic products: Consumers are increasingly looking for natural and organic sun protection products that are free from harmful chemicals and are better for the environment. This has led to the development of a range of natural and organic sunscreens and other sun protection products.

Sun Protection Market – Mergers and Acquisitions

The sun protection market has witnessed several mergers and acquisitions in recent years, driven by a desire to expand product portfolios, increase market share, and enhance research and development capabilities. Some of the notable mergers and acquisitions in the sun protection market include:

1. L’Oreal’s acquisition of CeraVe: In 2017, L’Oreal acquired CeraVe, a skincare brand that specializes in developing dermatologist-approved products for sensitive skin. The acquisition allowed L’Oreal to expand its presence in the U.S. market and enhance its expertise in developing products for sensitive skin.

2. Johnson & Johnson’s acquisition of Neutrogena: In 1994, Johnson & Johnson acquired Neutrogena, a skincare brand that offers a range of sun protection products. The acquisition allowed Johnson & Johnson to expand its presence in the skincare market and enhance its research and development capabilities.

3. Beiersdorf’s acquisition of Coppertone: In 2019, Beiersdorf acquired Coppertone, a leading sun care brand in the U.S. The acquisition allowed Beiersdorf to expand its presence in the U.S. market and enhance its expertise in developing sun protection products.

4. Shiseido’s acquisition of Drunk Elephant: In 2019, Shiseido acquired Drunk Elephant, a clean skincare brand that offers a range of sun protection products. The acquisition allowed Shiseido to expand its portfolio of clean skincare products and increase its presence in the U.S. market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Sun Protection Market – Significant Threats

The sun protection market faces several significant threats that could potentially hinder its growth and development. Some of the key threats include:

• Lack of awareness: While awareness about the importance of sun protection has increased in recent years, there is still a significant portion of the population that is unaware of the risks of UV radiation and the need for sun protection. This lack of awareness can limit the demand for sun protection products.

• Side effects of sunscreens: Some consumers have raised concerns about the potential side effects of sunscreens, such as skin irritation, allergic reactions, and hormone disruption. These concerns may lead some consumers to avoid using sunscreens or seek out alternative sun protection methods.

• Increasing competition: The sun protection market is becoming increasingly crowded, with numerous players offering a wide range of products at different price points. This increased competition can make it difficult for companies to stand out and gain market share.

• Regulatory challenges: The sun protection market is subject to various regulatory challenges, including changing regulations around the safety and efficacy of sunscreens. These regulatory challenges can create uncertainty for companies and limit their ability to innovate and develop new products.

• Limited effectiveness of sun protection products: Despite advances in technology, sun protection products are not always effective at preventing sun damage, particularly if not applied correctly or if used in inadequate amounts. This limited effectiveness can undermine consumer confidence in sun protection products and limit their demand.

To mitigate these threats, companies in the sun protection market need to focus on educating consumers about the importance of sun protection, developing safer and more effective sun protection products, and differentiating themselves from their competitors. They also need to stay up-to-date with changing regulations and invest in research and development to innovate and stay ahead of the competition.

Report Scope

Category-Wise Insights

Product Insights

According to a report by CMI, in 2022, the adult cream segment dominated the sun care products market, holding a significant revenue share of more than 68.5%. This segment is expected to continue its dominance throughout the forecast period, as it offers multiple benefits, such as protection against sunburn, premature aging, skin cancer, skin discoloration, and inflammation, making it a popular choice among adults.

The rising demand for natural and organic products is also driving the adoption of after-sun care products among adults. Physical products containing mineral-based components like titanium dioxide and zinc oxide are particularly popular among them. Additionally, the fake tan/self-tan segment is expected to witness the fastest growth during the forecast period, with a CAGR of 4.9% from 2023 to 2030. This growth can be attributed to the increasing trend of using alternatives to sunbathing to avoid exposure to harmful UV rays. Sunless tanning products, available in the form of lotions, creams, and sprays, are becoming increasingly popular among consumers.

Distribution Channel Insights

According to a report by CMI, in 2022, the hypermarket and supermarket segment dominated the skin care products market, holding the largest revenue share of 49.9%. This segment is expected to maintain its dominance over the forecast period, owing to the availability of various brands and the convenience of location.

These stores offer a wide range of skincare products for both men and women and often have trained personnel in the cosmetics and beauty aisles to provide expert help and recommendations to customers. However, the specialty store segment is projected to register the fastest CAGR of 5.7% over the forecast period. These stores specialize in a narrow range of skin care products and prioritize customer satisfaction. They maintain a significant depth in terms of the products offered to customers to provide exceptional service.

Many renowned brands prefer to sell their products through specialty stores as they focus on quality service and offer greater accountability. The increasing demand for high-quality skin care products has fueled the growth of specialty stores in the market.

Sun Protection Market – Regional Analysis

China: According to market analysis, China is expected to capture a significant share of the global sun protection market, accounting for 43.6% by 2033. The increasing demand for organic sun care products among consumers is one of the key drivers of the market in China. Cosmetic manufacturers are introducing new products made with 100% natural ingredients that are non-toxic and help maintain the skin’s pH level.

Consumer preference for clean labels and synthetic-free products is also contributing to the growth of sun care product sales in China. The market is further driven by the increasing popularity of online marketing and social media, which is being used to educate consumers about sun care products and their benefits.

The use of sun care products not only enhances the appearance, tone, and texture of the skin but also helps protect it from harmful UV rays. Moreover, the rising demand for vegan-based products with natural properties is also fueling the sun protection market in China. With these factors in play, the sun care products market in China is poised for significant growth in the coming years.

The United States: By 2033, the United States is projected to hold the largest share of the global sun protection market, accounting for 82.1% of the market. The market in the US is witnessing growth due to the increasing focus on personal and beauty care and the constant innovation of cosmetic products. The use of social media influencers, bloggers, and online distribution channels is also driving the growth of the sun care products market in the country.

According to the American Academy of Dermatology, men are more likely than women to maintain their skincare routine. This is because men have thicker and more sensitive skin, making them prefer sun care products to protect their skin from damage caused by UV rays, which are known to affect men’s skin more than women’s.

Competitive Landscape – Sun Protection Market

• Beiersdorf AG
• Groupe Clarins
• Johnson & Johnson
• Coty Inc.
• Shiseido Co. Ltd.
• L’oreal
• The Estee Lauder Companies Inc.
• Burt’s Bees
• Bioderma Laboratories
• Unilever
• Others

The global market is significantly impacted by the prominent players who are dedicated to meeting consumer needs by providing high-quality products to increase their brand recognition. These key players invest a substantial amount of money in research and development activities to drive substantial revenue in the market. Moreover, they employ advanced technologies to innovate products that cater to the unique needs of consumers.

The profound market analysis conducted by these players often leads to effective solutions that propel the market to new heights. Strategies such as mergers, acquisitions, collaborations, product launches, partnerships, and agreements are commonly utilized by these players in their marketing efforts.

The Sun Protection Market is segmented as follows:

By Product Outlook

• Adult Sun Cream
• Baby Sun Cream
• After Sun
• Fake Tan/Self Tan
• Tanning

By Distribution Channel Outlook

• Hypermarket & supermarket
• Pharmacy & drug store
• Specialty store
• Online
• Others

By Outlook

• Sprays
• Lotion/cream
• Roll-on/stick
• Others

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Market Analysis Matrix