Sunscreen Cream Market Size, Share, Growth, and Industry Growth, By Type (Chemical Sunscreens and Physical Sunscreens), By Application (General People and Children and Pregnant Women), Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global sunscreen cream market size was USD 6.286 billion in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with sunscreen cream experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 9.0805 billion by 2028, exhibiting a CAGR of 5.4% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Sunscreen creams work as a sunblock and protect your skin against the sun’s ultraviolet radiation and prevent sun-tan. Sunscreens are available in various forms, such as lotions, creams, gels, sprays, and foams. Sunscreen was invented by Australian chemist H.A. Milton Blake in 1932. It became a common supplement to the cosmetic and clothing industry. Especially sunhats, sunglasses, and sun-protective clothing. It is now available in various specifications with different SPF. The creams with SPF greater than 30 are recommended to avoid the chances of skin cancer. It has now become an essential part of the makeup industry and human life.

Sunscreens cream creates a barrier between the sun and the skin, which prevents the skin from various skin disorders. The sunscreen cream market is anticipated to grow owing to its wide adoption worldwide. The general population is rapidly adopting sunscreens to avoid the occurrence of skin cancer and sunburns. It helps in keeping the skin safe from the sunlight and ultraviolet rays. Additionally, the key companies launched tinted sunscreen, which is gaining popularity among the general population and has become an essential element in the cosmetic and skincare industry. Moreover, the usage of sunscreens by men is also increasing, which is likely to aid growth in the market. 

COVID-19 Impact: Forced Regulation to Stay Indoors Declined Sales

The pandemic had an adverse impact on all industries, and the sunscreen cream market was no exception. The spread of the virus influenced the spending habits and purchasing decisions of the consumer. The international and domestic travel bans worldwide resulted in the postponement of business tours and holidays. Sunscreen cream is used by the population to prevent their skin from getting harmed by the sunlight. The pandemic imposed stringent lockdown regulations, which forced the population to stay indoors. This factor affected the growth of the market. The infection was severe in Europe and North America, which declined sales of sunscreen cream in the global market. 

LATEST TRENDS

"Development of Personal Care and Cosmetic Industry to Surge Growth "

Over the year’s cosmetic and personal care industry has grown by adopting various new techniques and launching various new products in the market. Consumers are aware of the usage and benefits of the products. The mineral-based sunscreens are introduced that include titanium dioxide and zinc oxide, which is becoming a significant ingredient in the products. Additionally, these products are effective across a wide spectrum. These factors are projected to surge growth in the market. Moreover, constant research and development on the product are likely to aid sunscreen cream market growth. 

Segmentation

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•  By Type Analysis

By type, the market is segmented into chemical sunscreens and physical sunscreens.

• By Application Analysis

Based on application, the market is classified into general people and children, and pregnant women. 

DRIVING FACTORS

"Rising Awareness Programs Taken By Cancer Care Organizations to Propel Product Demand"

Various cancer care organizations are initiating awareness programs to make the general population aware of skin cancer care. These organizations are also suggesting the population to use sunscreen cream to avoid any chances of skin cancer. Additionally, they also provide preventive measures to protect skin from aging and sunburns. The increasing health and skin concerns are likely to foster growth in the market. The surging necessity to use sunscreen cream to avoid any skin-related issue is projected to propel growth in the market. Moreover, the easy availability of the product is also forecasted to boost product consumption and result in the growth of the market. 

"Increasing Skin Concern and Availability of Advanced Formulations to Surge Growth"

The rising concern for skin among men, women, and youngsters is likely to propel growth. Women seek multi-functional products such as moisturizers with sun protection or foundation with sun protection properties. The availability of non-chemical sun protection products is expected to gain traction in the market. The presence of natural minerals and components is increasing the adoption of the product. The youngsters are highly concerned about their skin which is anticipated to foster market growth in the foreseeable future. Moreover, the easy availability of advanced formulation products is an additional factor expected to aid market growth. 

RESTRAINING FACTORS

"Bans on Toxic Ingredients to Retard Growth in Market"

The general population is less likely to purchase products with harmful ingredients as the mixing of harmful ingredients may cause skin irritation or infection. Moreover, various ingredients have been proven hazardous as octinoxate or oxybenzone, to the environment. The government of various countries is expected to ban the use of such harmful ingredients in the product, which is anticipated to limit the market growth.  

REGIONAL INSIGHTS

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"North America to Dominate Due to the Strong Desire for Advanced Cosmetics"

North America is projected to hold maximum contribution in sunscreen cream market share in the global market owing to the rising adoption of sunscreen products and the strong desire of consumers for advanced cosmetic products with natural ingredients. 

Asia Pacific is anticipated to show prominent growth in region due to the higher consumption of sunscreen creams in the region. The region is exposed to sunlight which increases product adoption and consumption. 

Europe is likely to show sizeable growth owing to the higher usage of the product. Additionally, various awareness programs and campaigns are conducted in the region to avoid the rise in melanoma cases. 

KEY INDUSTRY PLAYERS

"Key Companies to Launch Eco-Friendly Products to Gain a Competitive Advantage"

Key players are constantly developing the product to appeal to wider customers in the market. Companies are adopting various strategies to gain long-term growth. Key companies are mixing antioxidants such as vitamin E and vitamin C into the product to boost product sales. Major companies are also emphasizing on developing products with no side effects to gain more consumers in the global market. Key companies are adding highly active and safe-to-use ingredients. Efficient and eco-friendly ingredients are explored by manufacturers to launch advanced products. 

List of Market Players Profiled

• Shiseido (Japan)
• Kao Group (Japan)
• Coty (U.S.)
• Bayer AG (Germany)
• Edgewell Personal Care (U.S.)
• Beiersdorf AG (Germany)
• The Mentholatum Company, Inc. (U.S.)
• Procter & Gamble (U.S.)
• Estee Lauder (U.S.)
• Avon Products, Inc. (U.K.)
• L'OREAL PARIS (France)
• Inoherb (China)
• Shanghai Jahwa
• Pechoin (SPDC)
• Johnson & Johnson (U.S.)
• Jala Group (China)
• Amorepacific Group (South Korea)
• LG Household & Health Care (South Korea)
• Unilever (U.K.)

INDUSTRY DEVELOPMENT

• March 2020- Ergodyne joined the sunscreen industry with the debut of its new brand, Krew'd. Broad-spectrum, water-resistant sunscreens with an SPF of 50 are offered in stick, spray, and lotion formats.

REPORT COVERAGE

The report is an overview of the market, including the following:

• Key players and their recent development.
• Factors projected to aid market growth.
• The impact of COVID-19 is also represented in the report.
• Regions are anticipated to lead the global market.
• Factors that may limit the growth of the market.
• The latest trends are also included in the report.
• Segmentation of the market on the basis of application and type.

These aspects altogether give a complete overview of the market and help the stakeholders in gaining a better understanding of the market.