Sunscreen Market size worth US$16.204 billion by 2029

sunscreen market

The sunscreen market is expected to grow at a CAGR of 5.28% with a market valuation of US$$11.372 billion in 2022 and is expected to reach a market value of US$16.204 billion by 2029.

The market for sunscreen products is significantly impacted due to the increasing prevalence of skin diseases and skin cancer worldwide.

As per the report, the market for sunscreens is expected to witness significant growth during the forecasted period.

Sunscreen is a type of product that helps in protecting the human skin from the harmful effects of sun rays, commonly UV rays from the sun. Sunscreen products help the prevention of absorption of Ultraviolet (UV) radiation by the skin, preventing the risk of contracting any kind of skin disease or developing skin cancer. Sunscreen products are known to contain a sun protection factor (SPF), which determines the level at which sunscreen products protect against harmful ultraviolet rays.

The increasing prevalence of skin cancer, coupled with the rising prevalence of skin diseases can be considered a few of the major growth factors in the sunscreen market.  Ultraviolet rays are known to be harmful to the body. Ultraviolet radiation is one of the major factors in which the prevalence of skin disease and skin cancer increases, due to the degradation of skin cells from ultraviolet ray exposure. They are also known to premature ageing of the skin, further increasing fine lines, age spots, and the development of wrinkles.

As per the Skin Cancer Foundation, the number of new melanoma cases is expected to display an increase of 7.3% in 2024, among which melanoma deaths are expected to increase by 3.8%. it was also stated that the United States accounted for 200,340 cases of melanoma during 2024, which include 99,700 cases of situ (non-invasive), confined to the epidermis (top layer of the skin), and 100,640 cases of invasive disease, which penetrates the epidermis into the skin’s second layer, known as the dermis. Among the invasive diseases, 59,170 cases are accounted to be in men, and the remaining 41,470 cases are accounted to be in women. This increasing prevalence of skin diseases known as melanoma and other related skin diseases drives the need for skin protection products such as sunscreens, further driving the growth of the global sunscreen market during the forecasted period.

Furthermore, several new products in the market by popular and well-known brands drive the growth of the sunscreen market during the forecasted period. For instance, as of January 2023, Beiersdorf AG, in collaboration with NIVEA, announced the launch of their innovative cosmetic sunscreen that was produced for a young girl with a rare skin disease known as EPP (Erythropoietic Protoporphyria), with the people suffering from the disease dubbed Shadow Jumpers since people with EPP are prone to the disease when exposed to sunlight. The product includes special light scattering pigments, preventing light from penetrating the skin and allowing the girl to be exposed to sunlight without suffering the side effects of the EPP skin disease for a short period, improving the quality of life.

The sunscreen market has been categorized based on type, product type, application, and geography.

Based on type, the sunscreen market is categorized into two types, which include mineral, and chemical. Mineral sunscreens are known to use natural sources of ingredients, whereas chemical sunscreens are known to use chemicalized formulations for production.

Based on product type, the sunscreen market is categorized into five types, which include creams and lotions, gels, sticks, sprays, and powders. Creams and lotions are well known in the sunscreen market and are produced in large quantities in the current period.

Based on application, the sunscreen market is categorized into two types, which include face, and body. Sunscreen is used on both the face and body, preventing the harmful UV rays from harming the skin.

Based on geography, the North American region is expected to witness significant growth in the sunscreen market during the forecasted period. The factors that contribute to the growth in the region is the increasing prevalence of skin diseases in the region, further increasing the demand for skincare products and sunscreen in the market. The United States and Canada are known to boost the growth in the region due to the increasing self-consciousness of skincare in the market. As per the Skin Cancer Foundation, melanoma is one of the most common cancers in the United States, with 1 in 5 Americans developing skin cancer by the age of 70. Furthermore, it was stated that more than 2 people perish from skin cancer every hour in the United States. In the U.S., more than 9,500 people have contracted skin cancer daily. Furthermore, it was stated that the annual cost of treating skin cancers in the United States accounted for an estimated $8.1 billion, which includes $3.3 billion for melanoma-related cancer.  This prevalence will drive the need for sunscreen with improved protection properties, further driving the growth of the global sunscreen market.

The research includes several key players from the sunscreen market, such as L’oréal Paris, Kao Singapore Pte. Ltd., Johnson & Johnson Services, Inc., Estée Lauder Inc., Shiseido Co. Ltd., Procter & Gamble Company, Beiersdorf AG, LOTUS HERBALS, Supergoop!, and VLCC Products.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-sunscreen-market

This sunscreen market has been analyzed into the following segments:

  • By Type:
    • Mineral
    • Chemical
  • By Product Type:
    • Creams and Lotions
    • Gels
    • Sticks
    • Sprays
    • Powders
  • By Application:
    • Face
    • Body
  • By Geography:
    • North America
      • United States
      • 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
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