The global UV filter market is anticipated to grow at a significant CAGR of around 6.2% during the forecast period. Major factors augmenting the market include rising concern for skin cancer and skin-related diseases across the globe. The UV filter protects against tanning, sunburn, and other skin diseases. It absorbs or reflects the UV light and protects the skin from the harmful effect of UV rays. Awareness of skin disease and the availability of precautionary products are driving the demand for sunscreen. According to the information by the American Academy of Dermatology AssociationIt is estimated that approximately 9,500 people in the U.S. are diagnosed with skin cancer every day. Invasive melanoma is projected to be the fifth most commonly diagnosed cancer for both men (57,180 cases) and women (42,600 cases) in 2022.

Stringent government regulations are one of the restraining factors in the UV filter market, especially in the US. Many UV Filter chemicals are not approved by the FDA in the US. Sunscreen may cause destruction to the coral reefs hence, the government in the US is planning to ban some sunscreens that contain certain harmful ingredients.

Impact of COVID-19 Pandemic on Global UV Filter Market

The personal care industry has suffered in covid-19, due to demand contraction across the globe Demand contraction was mainly attributed to less need for grooming coupled, with consumer nature of saving on spending, also which has lower the use of products and decline the sales in the personal care industry has affected the overall UV filter market. However, in the Fourth Quarter, the ease of COVID-19 measures has benefited the overall industry growth.

Segmental Outlook 

The global UV filter market is segmented based on filter type, application, and region. By filter type, the market has been organic (chemical) and inorganic (physical). The organic segment is further sub-segmented into Butyl Methoxydibenzoylmethane (Avobenzone), Octyl Methoxy-Cinnamate, Para-Aminobenzic Acid, Octyl Methoxycinnamate, Terephthalylidene Dicamphor Sulfonic Acid, Ethylhexyl Salicylate (Octyl salicylate), and Other. The inorganic market has been sub-segmented into Zinc Oxide (ZnO) and Titanium Dioxide (TiO2). Based on application segment market is sub-0divided into skincare, hair care, and others. Among the organic filter type segment Butyl Methoxydibenzoylmethane (Avobenzone) is anticipated to have a major market share owing to as it absorbs both UV-A and UV-B radiation to protect against various screen related problems.

Global UV Filter  Market Share by Application, 2021 (%)

The Skin Care Segment is Dominating the Global UV Filter Market

On the basis of application, the market is segmented into skincare, hair care, and others. During the forecast period, the skincare market is anticipated to hold a prominent market share globally. In order to stay competitive in the market, the companies are offering new products continuously with better and enhanced versions of sun protection fairness cosmetics. Moreover, market players are focusing on the development of various UV filter ingredients for men that was an untapped area earlier. This would drive the growth of the UV filter market growth across the globe. For instance, In January 2019 Unilever PLC and Bio-on created a new brand as ‘My Kai’. It offers eco-friendly sun cream made from Bio-on, a micro powder made with miner bio cosmetics bioplastic which is fully biodegradable. This enabled the company to strengthen its brand presence and also its revenue stream.

Regional Outlooks

The global UV filter market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East &Africa, and Latin America. North America is anticipated to dominate in the market for UV Filters owing to high disposable income and rising awareness of skin diseases including skin cancer followed by Europe.

Global UV Filter  Market Growth, by Region 2022-2028

The Asia Pacific Region is Fastest Growing in the Global UV Filter Market

Asia-Pacific is expected to show a significant growth rate during the forecast period. China and India are one of the fastest-growing economies in the region. Rising per capita expenditure and disposable income are driving factors for the market growth in the region. Moreover, the presence of domestic players in the region is also influencing the market growth of the region. Domestic players such as Himalayan and Joy are competing with major market players to gain a significant share in the market. Japan and South Korea have a well-established industry in cosmetics which will provide a significant share of the region. For instance, in December 2021, BASF announced to invest in a Uvinul® A Plus production plant in Asia. Consumer awareness of the importance of UV protection for skin health has been rapidly rising. This investment in Asia, will enhance the production capacity of specialty UV filters in the region and increase supply security for BASF customers.

Market Players Outlook

The competitive landscape includes key strategies of leading players, recent developments, and key company analysis. The major players that contribute to the growth of the market include BASF SE, Evonik Industries AG, L'Oreal SA, The Dow Chemical Co., Unilever PLC, and many others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In September 2021, DSM launched PARSOL® EHT, a highly efficient, eco-friendly UVB filter to advance innovation in eco-friendly sun care products. PARSOL® EHT is compatible with other organic and inorganic UV filters, besides being photostable and inert.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global UV filter market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.