Rockville , Oct. 31, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global sun protection active ingredient market is looking to climb at a CAGR of 5.3% to reach US $1,370.3 Million by the end of 2033.
Sun protection active ingredients are special components in sunscreens that shield the skin from harmful sun rays. They work by absorbing, scattering, or reflecting the UV rays, preventing them from causing skin damage. These ingredients provide effective and broad-spectrum protection against both UVA and UVB rays, reducing the risk of skin problems like aging and cancer. Unlike alternative methods, they are easy to apply, convenient, and can be customized based on individual needs. Some options are also environmentally friendly, ensuring they don't harm marine life or coral reefs.
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The expansion of the market is driven by increasing awareness about skin health and the dangers of UV radiation, leading to a surge in demand for effective sun protection products. Additionally, a rising prevalence of skin-related disorders and an aging global population further propel the market.
Making sure that the active ingredients in sunscreens work well together and stay effective can be tricky in the sun protection market. It involves a careful process of research and development to ensure that the ingredients don't break down when combined. Finding and developing new, innovative, and sustainable active ingredients that meet consumer demands for eco-friendly and reef-safe sun protection products can be a significant hurdle.
| Report Attribute | Details |
| Value Projection (2033) | US$ 1,370.3 Million |
| Growth Rate (2023-2033) | 5.3% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 112 Tables |
| No. of Figures | 93 Figures |
Key Takeaways:
- The North American market is expected to witness a market share of 35% in 2023. Moreover, the US market is predicted to witness a CAGR of 5.4% during the forecast period.
- Market share of the Top 5 companies is expected to be around 51%.
- As per the ingredient, Titanium Dioxide is the most commonly used sun protection active ingredient. The segment is expected to show around prominent market share of 17% of the global market in 2023.
Increasing awareness of skin health and UV radiation risks, a rising prevalence of skin-related disorders and an aging population, as well as a growing demand for innovative, eco-friendly formulations, are a few main factors that are shaping the market growth - Says FACTMR Expert
Key Companies Profiled in This Report
- BASF SE
- Koninklijke DSM N.V.
- Ashland
- Sunjin Beauty Science Co. Ltd.
- Croda International PLC
- Clariant AG
- L'Oréal
Market Competition
Leading cosmetic companies are making significant investments in developing products that align with evolving consumer preferences worldwide. This presents opportunities for players in the competitive market to increase their revenue and expand their market share.
- In 2022, Ashland Inc. introduced Sensiva Go Natural, a versatile liquid ingredient for personal care items. It offers a wide range of benefits, including broad-spectrum effectiveness and recognized humectant properties.
Winning strategies
- Top companies in the market should conduct thorough scientific studies and trials to prove the effectiveness of their active ingredients. This helps build trust with both the people who make the sunscreen products and those who use them.
- A successful approach in the sun protection market is to concentrate on creating ingredients that allow for high-SPF products. This meets the demand for maximum sun protection. By doing this, companies can stand out in the market and meet the needs of consumers looking for strong UV defense.
- Key companies should promote ingredients that do more than just protect against the sun. These ingredients should also have added benefits like anti-aging or moisturizing effects
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Country-wise Insights
Which Growth Prospects Drive Germany's Sales of Sun Protection Active Ingredients?
In the European market for goods containing active chemicals for sun protection, Germany is among the market leaders. Germans love the great outdoors, and hiking, cycling, and outdoor sports are all quite common pastimes. As a result, there is a greater chance of sun exposure when engaging in outdoor activities, which raises the need for sun protection items. Sunscreens and other sun protection solutions that can offer sufficient protection during outdoor activities are formulated with the help of sun protection active components.
With a 5.1% compound annual growth rate predicted for the sun protection active components market in Germany, there will be a US$ 20.9 million absolute potential between 2023 and 2033.
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Skin Care Ingredients Market: The skincare ingredients market is estimated at USD 22.5 Billion in 2022 and is forecast to reach USD 39.6 Billion by 2032, growing at a CAGR of 5.8% from 2022 to 2032.
Skin Grooming Market: The global skin grooming market is estimated at USD 207.6 Billion in 2022 and is forecast to surpass USD 352.9 Billion by 2032, growing at a CAGR of 5.4% from 2022 to 2032.
Skin Lightening Products Market: The global market for skin lightening products reached a valuation of around US$ 10 Bn in 2021 and is slated to accelerate at a CAGR of 7.5% to top US$ 22 billion by 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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