The Worldwide Sunscreen Market is Projected to Reach $15.716 Billion by 2028

DUBLIN, July 4, 2023 /PRNewswire/ -- The "Global Sunscreen Market - Forecasts from 2023 to 2028" report has been added to  ResearchAndMarkets.com's offering.

The global sunscreen market is projected to grow at a CAGR of 5.21% to reach US$15.716 billion in 2028 from US$11.016 billion in 2021.

The research into the hostile effects of sunscreens on coral reefs and marine species could hinder the fast growth of the global sunscreen market.

According to scientific research, the ingredients commonly used in chemical sunscreens have the potential to damage coral reef ecosystems and are resistant to treatment procedures. In addition to this, there have been incidents of the detection of these ingredients in water sources and have the potential to cause biomagnification in marine species. Therefore, these factors have the potential to slow down the rapid growth of the global sunscreen market however, the rising global demand for sunscreens is likely to overcome these factors.

Key Developments in the Global Sunscreen Market

In December 2022, a Korean cosmetics company, Purito introduced its new sunscreen, which was formulated based on the customer's suggestions through the "Create Me" campaign.

In July 2022, the Indian sunscreen market received its first powder sunscreen addition to its market from the mCaffeine Company. Apart from the powder sunscreen, the company also launched a new sunscreen lotion, with caffeine as one of the key ingredients in both products.

In May 2022, Eucerin Company announced the launch of its new product line of sunscreens. This product line contains four different sunscreens, including sunscreen for kids.

The North American region has large potential in the global sunscreen market and is expected to grow significantly during the forecast period.

North American countries are experiencing significant growth in the rising demand for skincare and sunscreen products. Apart from domestic sunscreen products, North American countries like the USA are witnessing a demand for foreign skincare and sunscreen products as well. For instance, some of the popular Korean skincare brands facing high demand include Laniege, Cosrx, Innisfree, and Glow Recipe, whereas Makanai and Hado Labo are Japanese companies witnessing high demand in the USA.

In addition to this, the increasing awareness of skin cancer prevention and the harmful effects of sun rays on the skin is further increasing the consumption of sunscreens in North America. Therefore, considering the high demand and import of other region's sunscreen products into North American counties such as the USA, it can be said that the North American sunscreen market promises a greater market share in the global sunscreen market over the span of the next few years.

Key Topics Covered:

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Design

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. GLOBAL SUNSCREEN MARKET BY TYPE
5.1. Introduction
5.2. Mineral
5.3. Chemical

6. GLOBAL SUNSCREEN MARKET BY TEXTURE
6.1. Introduction
6.2. Creams and Lotions
6.3. Gels
6.4. Sticks
6.5. Sprays
6.6. Powders

7. GLOBAL SUNSCREEN MARKET BY APPLICATION
7.1. Introduction
7.2. Face
7.3. Body

8. GLOBAL SUNSCREEN MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. France
8.4.3. United Kingdom
8.4.4. Spain
8.4.5. Others
8.5. Middle East And Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Others
8.6. Asia Pacific
8.6.1. South Korea
8.6.2. Japan
8.6.3. India
8.6.4. China
8.6.5. Australia
8.6.6. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES
10.1. Amorepacific Group
10.2. L'oreal
10.3. Johnson & Johnson
10.4. Sun Pharmaceutical Industries Ltd.
10.5. Kao Group
10.6. Shiseido Co. Ltd.
10.7. Dr. Reddy's Laboratories
10.8. The Estee Lauder Companies
10.9. Laboratoires Pierre Fabre


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