Time to put on the aviators! The global suncare market is positively red-hot, and set to expand at a 5.8% CAGR, rising to a total worth of $24.9 billion USD by 2024. This explosivemarket growth can be attributed to increased consumer awareness around the importance of sun protection, the booming demand for more and more natural and organic sun care products, and increased skin cancer rates around the globe.
Suncare, specifically sun protection products, is set to seriously light the market on fire for the next few years – and provide serious skin protection to millions of consumers around the globe.
A shift in suncare vigilance
Sunscreen used to be seen as something slapped on before a day at the beach. But, in today’s skincare obsessed climate, sunscreen is no longer seen as a forgettable afterthought, like flossing, or something only used occasionally, on long days spent outdoors.
Now, sunscreen is by consumers everywhere as a vital part of any skincare regime that’s pullings its weight. Today, sunscreen is seen as a product that should be used on the face, neck, hands, or any exposed body parts every single day. This shift in vigilance against the potentially damaging effects of the sun’s golden rays can be attributed to several factors.
Sunscreen is no longer seen as a forgettable afterthought.
To start, sunscreen has become espoused by everyone from frothy gossip publications to dermatologists to celebrity influencers as a product that should be applied daily and year-round, regardless of the day’s weather. With articles like “ Why You Need To Wear Sunscreen Every Day (Not Just In The Summer)” from hard-hitting news focused publications like Forbes to “How to Wear Sunscreen Like a Beauty Editor” from beauty-focused Allure magazine, our national rhetoric around sunscreen has changed. Sunblock is seen by consumers not only a preventative product, but also a critical element of an anti-aging skincare regime. And, with this shift in sun care consciousness, consumers are now snapping up sun creams, lotions, gels, sprays, and all sorts of innovative products with SPF protection, year-round, driving that hot market growth.
Booming growth from multiple factors
The sunscreen market also shows considerable growth thanks to the booming natural and organic claims product development and consumer demand. As the natural claims market continue to skyrocket for personal care, skin care, and makeup products, it makes sense that the desire for green, clean, and natural has trickled over to sun care products as well. Consumers are increasingly looking for the “natural” label on their sun protection product, as well as creams, lotions, or spray free of chemicals or fragrances they deem potentially irritating or harmful.
A final and sobering factor tied to the continued growth for the sun care product market is the increased rates of skin cares seen around the globe. According to the World Health Organization, “the incidence of both non-melanoma and melanoma skin cancers has been increasing over the past decades. Currently, between 2 and 3 million non-melanoma skin cancers and 132,000 melanoma skin cancers occur globally each year.”
“Anyone can get skin cancer, regardless of age, gender or race. In fact, it is estimated that one in five Americans will develop skin cancer in their lifetime.”
American Dermatological Association
Not to mention, the American Dermatological Association recommends “everyone” use sunscreen as “sunscreen use can help prevent skin cancer by protecting you from the sun’s harmful ultraviolet rays. Anyone can get skin cancer, regardless of age, gender or race. In fact, it is estimated that one in five Americans will develop skin cancer in their lifetime.”
With startling statistics like that, it’s no wonder consumers are taking their sun care so seriously. While North America has steadily dominated the suncare market in the past, and is projected to continue doing so in coming years, rising interest from consumers in the Asia Pacific region is also expected to drive global sun care sales upwards.
With continued consumer demand for protection from UV rays, the global sun care will continue to blaze upwards, offering formulators a dazzling chance to create the most innovative and effective sun care and sun protection products yet.
