Table of Contents
Sunscreen Market Overview
Sunscreen brands provide an essential product for skin protection against harmful UV radiation, which includes UVA and UVB rays. There are two main types: chemical sunscreens, which absorb UV rays, and physical (mineral) sunscreens, which reflect them.
The Sun Protection Factor (SPF) indicates the level of UVB protection, with broad-spectrum formulations recommended for comprehensive coverage.
To ensure effectiveness, sunscreen should be applied at least 15 minutes before sun exposure. Use about one ounce for full-body coverage, and reapply every two hours, especially after swimming or sweating.
It is crucial to check expiration dates and choose water-resistant options when necessary. Consistent use significantly reduces the risk of skin damage and skin cancer.
Market Drivers
The global sunscreen market is propelled by several factors. Including rising awareness of skin health and the harmful effects of UV radiation. Which has increased consumer demand for effective sun protection.
The expanding skincare industry and regulatory support promoting sun safety also play significant roles. Additionally, advancements in formulation technology have led to the development of diverse, appealing products.
While a rise in outdoor activities and the influence of social media further drive interest in sunscreen. Finally, heightened awareness due to climate change has underscored the necessity of sun protection. Collectively contributing to the market’s robust growth.
Market Size
In 2021, the global cosmetics market was valued at approximately USD 265.4 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2032.
List of Major Companies
These are the top ten companies operating in the Sunscreen market:
- LOreal
- Procter-n-Gamble
- Unilever
- Estee-Lauder
- Shiseido
- Johnson-n-Johnson
- Beiersdorf
- Amorepacific
- Avon
- Coty
LOreal
Company Overview
| Establishment Year | 1909 |
| Headquarter | Clichy, France |
| Key Management | Jean-Paul Agon (Chairman) |
| Revenue (US$ Bn) | $ 44.5 Billion (2022) |
| Headcount | ~ 87,369 (2023) |
| Website | https://www.loreal.com/ |
About L’Oréal
L’Oréal has been expanding its presence in the sunscreen sector, particularly through its dermatological beauty brands such as La Roche-Posay, Vichy, and CeraVe, which are known for their advanced sun protection products.
In recent years, the company has also focused on enhancing the sustainability and effectiveness of its formulations, leveraging innovation in bio-based ingredients through partnerships with companies like Evonik and Abolis.
Recent developments include L’Oréal’s acquisition of luxury beauty brand Aesop in August 2023 for $2.5 billion, which expands its footprint in high-end skincare.
The company has also launched new ingredients, such as Melasyl™, to tackle pigmentation issues, a move that reflects its continuous investment in research and innovation.
These strategic acquisitions and product innovations are part of L’Oréal’s broader strategy to reinforce its position in the global beauty and sunscreen markets.
Geographical Presence
L’Oréal S.A. is a global leader in the cosmetics and beauty industry, with a strong geographical presence across North America, Europe, Asia-Pacific, Latin America, Africa, and the Middle East.
The company tailors its product offerings to local preferences, focusing on premium and mass-market segments in key regions such as the U.S., France, China, and Brazil. Rapid growth in emerging markets, particularly in Asia-Pacific, is driven by increasing disposable incomes and evolving beauty standards.
L’Oréal’s strategic initiatives include enhancing e-commerce capabilities and implementing sustainable practices, ensuring its competitive advantage and relevance across diverse markets.
Recent Developments
- In February 2024, L’Oréal and Prada S.p.A. entered a long-term licensing deal to produce and distribute luxury beauty products under the Miu brand.
- In August 2023, L’Oréal completed the acquisition of a distinctive luxury beauty brand, Aesop
Procter-n-Gamble
Company Overview
| Establishment Year | 1837 |
| Headquarter | Cincinnati, Ohio, U.S. |
| Key Management | Jon R. Moeller (CEO) |
| Revenue (US$ Bn) | $ 82.01 B (2023) |
| Headcount | ~ 27,560 (2023) |
| Website | https://pg.com/ |
About Procter & Gamble
Procter & Gamble (P&G) is actively involved in the sunscreen sector through its skincare brands, such as Olay and other dermatological product lines.
P&G focuses on creating daily-use products with superior formulations, often incorporating advanced sun protection in their skincare offerings.
Recently, P&G completed the acquisition of Mielle Organics in March 2023, which adds to its portfolio of beauty and personal care brands.
The company continues to emphasize innovation in skincare, launching new products aimed at improving both protection and skincare quality.
P&G’s integrated growth strategy drives its product development in this sector, combining consumer insights, sustainability, and advanced technology to meet rising demand for multifunctional skincare products that include sun protection.
Geographical Presence
Procter & Gamble (P&G) has a significant geographical presence that enhances its market strategy. In North America, particularly the United States and Canada, P&G boasts a strong portfolio of brands like Tide and Pampers.
In Europe, the company has tailored its offerings to Western and Eastern markets, including Germany and Poland.
In the Asia Pacific, P&G focuses on rapidly growing markets such as China and India, adapting products to local preferences.
Latin America and Africa also represent key growth areas, with strategies aimed at affordability and local manufacturing.
This extensive presence allows P&G to adapt products, leverage local insights, optimize supply chains, and build brand loyalty, positioning the company for continued success across diverse markets.
Recent Developments
- In August 2024, P&G teamed up with Lil’ Drug Store Products to improve the distribution of its healthcare products in convenience stores.
- In May 2024, P&G sold its VS Sassoon and a hair care business in Greater China to Henkel.
Unilever
Company Overview
| Establishment Year | 1929 |
| Headquarter | London, U.K |
| Key Management | Hein Schumacher (CEO) |
| Revenue (US$ Bn) | $ 64.5 Billion (2023) |
| Headcount | ~ 127,000 (2023) |
| Website | https://www.unilever.com/ |
About Unilever
Unilever PLC has enhanced its presence in the sunscreen sector within its Beauty & Wellbeing division by launching innovative products.
Brands like Vaseline, POND’S, and Lakmé have introduced multifunctional sun protection items that combine traditional SPF with skincare benefits such as hydration and brightening.
Notable products include Vaseline’s Healthy Bright Gluta-Hya Serum Burst Lotion, and POND’s UV Protect Sun Serum, which is particularly popular in Southeast Asia.
Additionally, recent acquisitions, including Nutrafol and Bolivian manufacturer Astrix S.A. in 2023, support Unilever’s strategy to expand its personal care market share through innovation and strategic growth initiatives.
Geographical Presence
Unilever PLC, a leading multinational consumer goods company, has a significant geographical presence across North America, Latin America, Europe, Asia, Africa, and the Middle East.
In North America, brands like Dove and Hellmann’s thrive, while Latin America sees success with Omo and Knorr amidst rising disposable incomes.
Europe features well-established products, such as Lipton and Ben & Jerry’s, with a strong emphasis on sustainability. In Asia, personal care brands like Surf and Pepsodent cater to a growing middle class, while Africa’s market capitalizes on food and personal care products like Royco and Sunlight.
The Middle East focuses on premium offerings to an affluent demographic. Unilever’s strategy emphasizes local adaptation of products and sustainability, allowing it to respond to diverse consumer needs across regions effectively.
Recent Development
- In September 2024, Vaseline launched Vaseline Pro VitaB3 Serum-Burst Lotion.
- In September 2024, Unilever invested in the US supplements business, Create Wellness.
Estee-Lauder
Company Overview
| Establishment Year | 1946 |
| Headquarter | New York, U.S. |
| Key Management | Fabrizio Freda (President and CEO) |
| Revenue (US$ Bn) | $17.7 Billion (2022) |
| Headcount | ~ 63,000 (2022) |
| Website | http://www.elcompanies.com/ |
About Estée Lauder
The Estée Lauder Companies have been expanding their presence in the sunscreen sector through strategic acquisitions and product innovations.
In 2023, the company strengthened its luxury portfolio with the $2.8 billion acquisition of Tom Ford, further enhancing its footprint in premium beauty and skin care, including products with sun protection elements.
Estée Lauder has long integrated SPF in its high-end skincare lines under brands like Estée Lauder and Clinique, which focus on combining sun protection with anti-aging benefits.
Additionally, the company has launched new initiatives aimed at “skin longevity,” emphasizing the need for effective sun care as part of broader skin health.
These efforts align with Estée Lauder’s strategy of leveraging its luxury and science-backed brands to meet growing consumer demands for multifunctional skincare.
Geographical Presence
The Estée Lauder Companies Inc. operates globally, with a significant presence across North America, Europe, the Middle East, Africa, Asia-Pacific, and Latin America.
The United States remains its largest market, while growth is driven by China and emerging markets in India and Southeast Asia.
In Europe, key markets include the UK, France, and Germany, with rapid expansion in the Middle East and gradual entry into Africa.
The company employs a multi-channel strategy, leveraging both physical retail and e-commerce to cater to diverse consumer preferences, positioning itself for sustained market leadership in the evolving beauty landscape.
Recent Development
- In August 2024, Smashbox debuted in the Amazon Premium Beauty store in the US.
- In August 2024, Lab Series launched in the U.S. Amazon Premium Beauty store.
Shiseido
Company Overview
| Establishment Year | 1872 |
| Headquarter | Tokyo, Japan |
| Key Management | Masahiko Uotani (President and CEO) |
| Revenue (US$ Bn) | $7.2 B (2023) |
| Headcount | ~ 33,414 (2023) |
| Website | https://corp.shiseido.com/en/ |
About Shiseido
Shiseido has been actively expanding its presence in the sunscreen sector through both product innovations and sustainability initiatives.
Its flagship brand, Anessa, is renowned for developing sunscreens that offer high protection while being environmentally friendly, including coral-safe formulations.
This aligns with Shiseido’s broader commitment to sustainability, which is demonstrated through its “Blue Project” aimed at marine protection.
Additionally, the company continues to focus on cutting-edge technologies, such as its Sun Dual Care technology, which combines sun protection with skincare benefits.
Recent acquisitions, like that of Gallinée, a microbiome-focused skincare brand, further strengthen Shiseido’s position in the skincare and sunscreen markets, enhancing its R&D capabilities in Europe.
These efforts reflect Shiseido’s strategic goal under its SHIFT 2025 plan, which emphasizes both environmental responsibility and innovative product development.
Geographical Presence
Shiseido Co., Ltd., a leading global cosmetics company headquartered in Tokyo, operates a diverse portfolio of beauty brands across multiple regions.
In Asia-Pacific, Japan and China are key markets, with Shiseido focusing on premium products and online accessibility.
North America, particularly the U.S. and Canada, features a strong brand presence through various retail channels.
In Europe, France and the UK are significant for brand awareness, while Brazil and Mexico represent emerging opportunities in Latin America.
The Middle East, especially the UAE, is a target for luxury cosmetics, with South Africa showing growth potential. Shiseido’s strategic market penetration and adaptation to local preferences position it for continued success in the evolving beauty industry.
Recent Developments
- In August 2024, Shiseido China collaborated with Alibaba Cloud for DRUNKGPT technology.
- In June 2024, Shiseido’s Ultimune announced its plans to launch a probiotic powder set.
Johnson-n-Johnson
Company Overview
| Establishment Year | 1886 |
| Headquarter | New Brunswick, New Jersey, US |
| Key Management | Joaquin Duato (Chairman & CEO) |
| Revenue (US$ Bn) | $ 85.1 Billion (2023) |
| Headcount | ~ 134,400 (2023) |
| Website | http://jnj.com/ |
About Johnson & Johnson
Johnson & Johnson has been actively enhancing its position in the sunscreen and skincare sectors through its Kenvue spinoff, which now manages consumer brands like Neutrogena and Aveeno.
These brands are recognized for their advanced sunscreen products that combine skin health benefits with sun protection.
Recently, Johnson & Johnson completed acquisitions, such as Proteologix, Inc., to strengthen its innovative medicine portfolio, though this also supports its broader consumer health initiatives.
The launch of Kenvue in 2023 marks a strategic move to focus on consumer health and skincare, enabling greater innovation and a focus on sustainability in its product lines.
This positions the company to develop further sun care products that meet growing consumer demand for both efficacy and environmental responsibility.
Geographical Presence
Johnson & Johnson operates in over 60 countries and sells products in more than 175, showcasing its extensive global presence.
The United States is its largest market, with significant operations based in New Jersey. In Europe, key markets include Germany, France, and the UK, while Eastern Europe is experiencing growth.
The Asia-Pacific region, particularly China and India, is seeing rapid expansion due to rising incomes and healthcare demands, with Japan also serving as a mature market.
In Latin America, Brazil and Mexico are pivotal, and the Middle East and Africa are emerging markets with increasing healthcare investments.
This diverse geographical footprint enables Johnson & Johnson to implement localized strategies and capture growth opportunities across the healthcare landscape.
Recent Developments
- In June 2024, Johnson & Johnson acquired Proteologix, Inc., a private biotechnology firm specializing in bispecific antibodies for immune-mediated diseases.
- In September 2022, Johnson & Johnson unveiled the name Kenvue for its upcoming New Consumer Health Company, furthering its plan to establish two independent market leaders.
Beiersdorf
Company Overview
| Establishment Year | 1882 |
| Headquarter | Hamburg, Germany |
| Key Management | Vincent Warnery (CEO) |
| Revenue (US$ Bn) | $ 9.3 Billion (2022) |
| Headcount | ~ 21,640 (2022) |
| Website | http://www.beiersdorf.com/ |
About Beiersdorf
Beiersdorf AG, known for brands like NIVEA and Eucerin, has been actively innovating in the sunscreen sector.
The company continues to grow through its 2019 acquisition of Coppertone, which bolstered its sunscreen portfolio.
Recently, Beiersdorf has focused on sustainability by reworking its NIVEA Sun product line to use more environmentally friendly packaging and formulas, incorporating 50% recycled materials. This aligns with its broader commitment to reducing CO2 emissions by 30% by 2025.
Furthermore, Eucerin launched a refillable jar for its Hyaluron-Filler range, supporting Beiersdorf’s sustainability agenda. These innovations reflect the company’s strategy to blend high-performance skincare with environmental responsibility.
Geographical Presence
Beiersdorf AG, headquartered in Hamburg, Germany, is a leading global skincare company with a diverse geographical presence.
It operates primarily in Europe, where Germany represents its largest market, alongside strong positions in Western and Eastern Europe.
In the Americas, the company focuses on North America, particularly the United States, and is expanding in South America, notably Brazil.
The Asia-Pacific region, especially China and Southeast Asia, presents significant growth opportunities, while the Middle East and Africa are targeted for expansion through localized strategies.
This geographical diversification allows Beiersdorf to mitigate risks and adapt its offerings to meet varying consumer preferences, ensuring sustained growth in the competitive skincare market.
Recent Developments
- In September 2024, Beiersdorf launched the Eucerin Hyaluron-Filler Epigenetic Serum.
- In September 2024, La Prairie introduced its Life Matrix Haute Rejuvenation Cream.
Amorepacific
Company Overview
| Establishment Year | 1945 |
| Headquarter | Yongsan-gu, Seoul, South Korea |
| Key Management | Suh Kyung-bae (Chairperson) |
| Revenue (US$ Bn) | $ 5.9 Billion (2022) |
| Headcount | ~ 5,811 (2022) |
| Website | https://www.apgroup.com/ |
About Amorepacific
Amorepacific Corporation continues to make strides in the sunscreen sector with innovative product developments and strategic acquisitions.
The company recently developed a transparent inorganic sunscreen material that effectively reflects UV rays without leaving a white cast, addressing a common consumer concern in sun care products.
This innovation showcases their strong R&D capabilities and commitment to enhancing skincare solutions.
Additionally, Amorepacific has expanded its global presence through the acquisition of COSRX, a skincare brand popular for sensitive skin products, and Tata Harper, a luxury clean beauty brand.
These moves are part of the company’s broader strategy to grow in international markets, particularly in the Americas and Europe.
Geographical Presence
Amorepacific Corporation, a leading South Korean cosmetics company, has a strong geographical presence spanning several key markets worldwide.
Its largest revenue source remains South Korea, while significant expansions in China and Japan cater to a growing demand for K-beauty products.
In North America, particularly the United States and Canada, the company is leveraging e-commerce and retail partnerships to promote brands like Laneige and Sulwhasoo.
In Europe, it targets high-value markets such as the UK, France, and Germany through collaborations with local retailers.
Additionally, Amorepacific is gradually entering the Middle East and Africa, focusing on premium segments and online sales channels. This strategic, localized approach positions the company favorably in the competitive global beauty industry.
Recent Developments
- In September 2022, Amorepacific acquired Tata’s Natural Alchemy, LLC, a leader in natural luxury skincare, underscoring its commitment to growth in global markets, especially in North America.
- In April 2020, Amorepacific developed a white-cast-free platform technology using porous micro-inorganic materials that effectively reflect UV rays.
Avon
Company Overview
| Establishment Year | 1886 |
| Headquarter | London, United Kingdom |
| Key Management | Angela Cretu (CEO) |
| Revenue (US$ Bn) | $ 2.6 Billion (2022) |
| Headcount | ~ 13,000 (2022) |
| Website | https://www.avonworldwide.com/ |
About Avon
Avon Products, Inc., now a part of Natura & Co, continues to be an influential player in the beauty and personal care industry, with a focus on direct selling and digital expansion.
In recent years, Avon has made strides in its skincare and sun care products, particularly under its Anew and Avon Care brands, offering multifunctional sunscreen options that provide both UV protection and skin-nourishing benefits.
Since its acquisition by Natura & Co. in 2020, Avon has benefitted from the parent company’s sustainability-focused innovations and global retail strategy.
Additionally, Natura’s expertise in ethical beauty is expected to influence Avon’s product formulations, aligning them with the growing consumer demand for clean and sustainable products.
This acquisition has strengthened Avon’s position in markets like Latin America, Europe, and Africa, expanding its footprint across over 100 countries.
Geographical Presence
Avon Products, Inc. operates as a global leader in direct selling and beauty products, with a significant geographical presence across multiple regions.
The company has a strong foothold in North America, particularly in the U.S. and Canada, while Latin America, especially Brazil, remains one of its largest markets.
In Europe, key countries include the UK and Germany, where Avon adapts its offerings to local preferences.
The Asia Pacific region targets emerging markets like India and China, leveraging digital tools for sales and recruitment.
In Africa, the focus is on community engagement in countries such as South Africa and Nigeria. Overall, Avon’s localized strategies position it well for growth in the competitive global beauty industry.
Recent Developments
- In May 2024, Avon Products announced the launch of a skin renewal power cream.
- In November 2023, Avon Products launched its latest fragrance: Far Away Beyond the Moon.
Coty
Company Overview
| Establishment Year | 1904 |
| Headquarter | New York, United States |
| Key Management | Sue Nabi (CEO) |
| Revenue (US$ Bn) | $ 5.6 Billion (2023) |
| Headcount | ~ 11,350 (2023) |
| Website | https://www.coty.com/ |
About Coty
Coty Inc. is expanding its presence in the sunscreen and broader skincare sectors through its prestige and mass beauty divisions.
While traditionally not focused solely on sun care, brands like Lancaster are recognized for high-end sunscreens in Europe, combining sun protection with skincare benefits. Coty is actively enhancing its skincare portfolio, with brands such as Lancaster and Philosophy gaining traction in key markets like Europe and China.
The company’s innovation efforts include new product launches and an increased e-commerce presence. In 2023, Coty reported robust growth in its prestige beauty and skincare segments, and its acquisition strategies feature partnerships like the licensing deal with Marni.
Additionally, Coty is committed to sustainability, aiming for carbon neutrality in its supply chains and production sites.
Geographical Presence
Coty Inc. is a major player in the global beauty industry, with a significant geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East.
In North America, the U.S. serves as a primary market, while Canada also contributes to revenue through mainstream products.
Europe, particularly the UK, France, Germany, and Italy, is crucial for luxury and premium beauty offerings. Asia-Pacific, especially China and India, presents growing opportunities driven by rising incomes.
In Latin America, Brazil and Mexico are key markets, with Coty focusing on local partnerships. Meanwhile, the Middle East offers lucrative prospects in luxury fragrances.
Overall, Coty’s strategic adaptability to regional preferences positions it well to capitalize on emerging market opportunities.
Recent Developments
- In June 2024, Coty introduced Kylie Cosmetics and Adidas Sports Fragrances in India.
- In March 2024, Coty launched its first line of fragrances, Infiniment Coty Paris.
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