According to Custom Market Insights (CMI), the European Sunscreen Ingredients Market size was estimated at USD 287.53 million in 2023 and is anticipated to reach around USD 440.98 billion by 2030, recording a CAGR of roughly 6.3% between 2023 and 2030.
During the forecast period, the European Sunscreen Ingredients Market is expected to be driven by investments in expanding online and offline distribution networks through strategic partnerships and agreements. Know more key driving factors with CMI!
Browse the full “Europe Sunscreen Ingredients Market Size, Trends and Insights By Product Type (Mineral Sunscreen, Chemical Sunscreen), By Application Type (Sun Protection Creams, Lotions, Gels, Sprays, Sticks, Others), By End User Type (Cosmetics Industry, Pharmaceutical Industry, Others), By Distribution Channel Type (Online Sales, Retail Stores, Others), and By Region – Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/europe-sunscreen-ingredients-market/
European Sunscreen Ingredients Market: Major Growth Factors and Key Dynamics
The European sunscreen ingredients market is expected to experience significant growth in the coming years, driven by various key dynamics:
- Increasing Awareness: There is increasing awareness among consumers regarding the harmful effects of UV radiation on the skin, which has led to a rise in demand for sun protection products, including sunscreen ingredients.
- Growing Demand for Natural and Eco-Friendly Products: Consumers are becoming more conscious about the ingredients used in their personal care products and are opting for natural and eco-friendly products, which is expected to drive the demand for natural and organic sunscreen ingredients.
- The popularity of Multifunctional Sun Protection Products: There is a growing demand for multifunctional sun protection products that offer additional benefits such as anti-aging and moisturizing properties. This trend is expected to drive the demand for multifunctional sunscreen ingredients.
- Increasing Investment in R&D: Key players in the market are investing heavily in research and development activities to develop innovative and sustainable sunscreen ingredients that meet the growing demand for natural and eco-friendly products.
- Government Regulations: There are several government regulations and guidelines in place regarding the use of sunscreen ingredients, which is expected to drive the demand for safe and effective ingredients.
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Europe Sunscreen Ingredients Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the european sunscreen ingredients market, with both positive and negative effects:
Supply Chain Disruptions: The pandemic has disrupted global supply chains, leading to shortages of raw materials and ingredients used in sunscreen products. This has resulted in higher prices and delayed deliveries of sunscreen ingredients.
The shift in Consumer Behavior: The pandemic has led to a shift in consumer behavior, with a greater emphasis on health and wellness. This has resulted in increased demand for sunscreen products and ingredients, particularly those that offer natural and organic options.
Economic Uncertainty: The pandemic has led to economic uncertainty, with many consumers facing financial constraints. This has resulted in a shift towards more affordable sunscreen products, which may impact the demand for premium sunscreen ingredients.
Increased Focus on Health and Safety: The pandemic has increased the focus on health and safety, which has led to greater demand for safe and effective sunscreen ingredients that protect against UV radiation.
List of the prominent players in the European Sunscreen Ingredients Market:
- BASF SE
- Croda International Plc
- DSM Nutritional Products AG
- Ashland Global Holdings Inc.
- Givaudan SA
- Wacker Chemie AG
- Symrise AG
- Lubrizol Corporation
- The Dow Chemical Company
- Clariant AG
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