Lucintel Forecasts Sunscreen Chemicals in the Global Cosmetic Chemical Market to Reach $1.8 Billion

Category: Business

According to the recent study the sunscreen chemicals in the global cosmetic chemical market is projected to reach an estimated $1.8 billion by 2028 from $1.3 billion in 2023, at a CAGR of 5.6% from 2023 to 2028. Growth in this market is primarily driven by growing cases of skin care and skin disorders, increasing consumer awareness about skin protection against the UV rays of the sun, and emerging demand for organic and natural skin care products, globally. A more than 150 – page report is developed to understand trends, opportunities and forecast in sunscreen chemicals in the global cosmetic chemical market by form (cream, gel, lotion, liquid, spray, lip balm, wipes, sticks, and others), distribution (offline and online), and region (North America, Europe, Asia Pacific, and the Rest of the World). “Lotion market is expected to remain the largest segment during the forecast period.” Based on form, the sunscreen chemicals in the global cosmetic chemical market is segmented into cream, gel, lotion, liquid, spray, lip balm, wipes, sticks, and others. Lucintel forecasts that the lotion market is expected to remain the largest segment as it has high moisture content that helps in hydrating the skin and counteracting the drying effect of sun exposure. “Within the sunscreen chemicals in the global cosmetic chemical market, the offline segment is expected to remain the largest distribution channel” Based on distribution channel the offline segment is expected to witness the highest growth over the forecast period because it enables consumers to touch, smell, and test the products before making a purchase from a wide range of availability. “North America will dominate the sunscreen chemicals in the global cosmetic chemical market in near future” North America will remain the largest region due to increasing demand for organic and natural formulations and growing awareness of harmful effects of prolonged sun exposure among consumers in the region. Major players of sunscreen chemicals in the global cosmetic chemical market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. SOLVAY SA, Croda International PLC, Evonik Industries AG, Stepan Company, Symrise, and Ashland are among the major sunscreen chemicals in the global cosmetic chemical providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com