Global Sun Care Cosmetics Market Set to Reach $16.1 Billion by 2030: ResearchAndMarkets.com

The global sun care cosmetics market size is expected to reach $16.1 billion by 2030, registering a CAGR of 8.3% over the forecast period.

 

The sales of sun care cosmetics are largely driven by brand awareness, shopping frequency and expenditure capability of different buyers. The adoption of sustainable products made without any chemicals is rising. Cruelty-free sun care cosmetics are also gaining traction in the market.

 

Over the past few years, sun care cosmetics have been gaining popularity among people of all ages, particularly the millennial population. Most consumers love sunbaths, however, tanning is a concern and a key factor contributing to the perennial demand for the product, the firm reports.

According to RealSelf Sun Safety Report, in 2019, only 10% of US adults used sunscreen daily and almost half (47%) never wear sunscreen. Women are significantly more likely than men (15% versus 4%) to wear sunscreen on a daily basis. However, men are significantly more likely than women to always or almost always reapply sunscreen when they wear it, i.e. 34% of men and only 25% of women reapply sunscreen.

 

The study also mentioned that among Americans who wear sunscreen at least one day a week, 93% apply it to their face. The second most popular product application area is the neck (74%), followed closely by the arms (73%). The top reported reasons for not wearing sunscreen are not being exposed to the sun enough (56%) and having skin that doesn't burn easily (25%).

 

The top motivations for using sunscreen are preventing skin cancer (74%), preventing sunburn (48%), and preventing the look of aging skin (46%). In addition, the report stated that men are significantly more likely than women to get an annual skin check at 36% and 27%, respectively.

 

The rising awareness regarding the detrimental effects of harmful chemicals and toxic ingredients, such as formaldehyde and toluene, that disrupt the endocrine system has boosted the demand for organic products in the industry. To capitalize on this trend, manufacturers are focusing more on research & development and trying to come up with new products. For instance, the skincare brand Badger makes organic sunscreen with zinc oxide SPF 30.

 

Manufacturers in the segment are coming up with innovative SPF sunscreens with added benefits. The organic segment is expected to witness substantial growth over the forecast period. Consumers tend to opt for sun care cosmetic products that are made from plant- or mineral-based materials, which provide superior water resistance and improve the feel of the skin.
 

Asia Pacific dominated the industry in 2022 and will remain dominant throughout the forecast years. The increasing demand for sunscreens with specific SPF content, the rising popularity of sun care cosmetic products, and brands looking to accelerate their expansion plans by venturing into the regional markets of APAC are the key factors boosting the region's growth.