The demand for natural and organic skincare products is increasing, especially in Europe and North America, opening avenues for manufacturers to develop products with natural and organic ingredients. Natural chemicals such as polyphenols (curcumin and tannins), anthocyanidins, carotenoids, volatile oils from vegetables and fruits, medicinal plants such as aloe vera juice, algae, and lichens are more effective than synthetic chemicals. Owing to the long-term benefits of natural ingredients, especially against UV rays and free radicals, which cause skin damage, they are widely preferred by the manufacturers of sun protection products.
Global Sun Protection Products Industry is estimated to be valued at USD 11,002.34 Million by 2025 and is expected to register a CAGR of 5.31% during the forecast period. These ingredients offer strong antioxidant, moisturizing, and cooling effects on the skin, making them ideal ingredients for various skincare and personal care products. Frequent reapplication of organic sun protection products helps mitigate the damage caused by UV radiation and avoid chronic conditions such as cancer. Hence, these natural chemicals can be used in sunscreen products. The rising demand for clean label products, increasing consumer awareness of health and wellness, and growing consumer interest in natural and organic products are expected to offer lucrative opportunities to the players active in the global sun protection products market.
Europe was the largest market for sun protection products in 2018 and the regional market is expected to maintain its dominance during the forecast period. North America held a notable market share in 2018 and the regional market is expected to register a growth rate of 4.99% during the forecast period. However, the Asia-Pacific market is projected to register the highest CAGR of 5.49% during the forecast period of 2019 to 2025. Rising awareness of the potential effectiveness of sun protection products has led to an increase in sales of these products in the region.
Segmental Analysis
The global sun protection products market has been segmented on the basis of form, SPF range, application, and region.
Based on form, the global sun protection products market is segmented into gel, lotion, cream, and others. The cream segment is projected to register the highest CAGR of approximately 5% during the forecast period. Sun protecting creams shield the collagen, elastin, and keratin in the skin, which keep it smooth and firm; these products also protect the skin from irritation caused by UV rays. Such creams have a higher oil content as compared to other forms of sun protection products. They have high viscosity, making them heavier, thus, protecting against moisture loss. Creams are generally suitable for dry or dehydrated skin, as they moisturize the skin along with protecting it from UV rays.
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By SPF range, the market has been divided into SPF 15, SPF 30, SPF 50, SPF 70, and others. The SPF 30 segment garnered the largest share of the global sun protection products market in 2018. Sun protection products with SPF 30 allow 1/30th of the ambient UV rays to penetrate or reach the surface of the skin. SPF 30 blocks nearly 97% of UVB radiations. According to the Cancer Council of Australia, consumers should opt for sun protection products with SPF 30 or above that are water-resistant and labeled as broad-spectrum products that filter both UVA and UVB radiation.
Based on distribution channel, the global sun protection products market has been classified as store-based and non-store-based. The store-based segment has been further divided into supermarkets and hypermarkets, convenience stores, and others. In 2018, the store-based segment accounted for the larger share and it is expected to register a CAGR of 5.28% during the forecast period of 2019 to 2025.
