UV Filter Market: Industry Growth, Size, Share and Forecast 2019-2025
Posted by Orion Market Research on December 23rd, 2019
The global UV filter market is expected to grow at CAGR of 6.2% during 2019-2025. In a sunscreen, an ingredient is known as a filter. Major factor augmenting the sunscreen and UV filter industry are rising skin related diseases including skin cancer, along with rising awareness and marketing campaign of the companies. Rising disposable income and growing standards of living across the globe are also augmenting the market, for instance, there is notable rise in sunburn concerts all across the globe. However, rising risk of cancer is the major factor that is affecting the growth of the global UV filter market.
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High incidence of skin cancer is forcing people to move toward UV filter sunscreens. As per WHO, around 1.04 million new cases of Non-melanoma skin cancer were registered, globally. North America has the largest share of non-melanoma skin cancer with 46.3% in 2018. However, most of the mortalities related to non-melanoma skin cancer were registered in Asia Pacific, around 42% in 2018. More than 65,000 mortalities due to non-melanoma skin cancer were registered, globally. New cases related to melanoma of skin cancer are less as compared to non-melanoma of skin cancer. In 2018, more than 287,000 new cases of melanoma of skin were registered around the globe. Out of this, 50% new cases and 44% mortalities were registered in Europe. It indicates that all region across the globe is at high risk of skin cancer, which will generate a need for UV filter sunscreen in all-region during the forecast period.
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Globally, the government regulations are significantly affecting the UV filter market. In the US, UV sunscreen is categorized as over the counter (OTC) drugs, whereas, the moisturizer is considered under cosmetics category. The sunscreen bottles in the US are labeled with sun protection factor (SPF) ratings which refer only to UVB protection. To indicate UVA protection level “broad spectrum” term is used. UVA is linked with skin cancer. When in higher concentrations, Zinc oxide and titanium dioxide can protect against both UVA and UVB. However, only avobenzone and oxybenzone are approved in the US.
As of February 2019, only 16 ingredients are approved by the US FDA its sunscreen monograph. There are two types of filters that are used in a sunscreen that is physical or chemical. Physical blockers include zinc oxide and titanium dioxide, which can deflect UV rays significantly. Chemical ingredients include oxybenzone, it can absorb and disperse UV rays. As compared to the US, European regulatory are lenient for approval of sunscreen ingredients, due to which there are more options available in Europe for UVA blockers.
Global UV Filter Market- Segmentation
By Filter Type
Global UV Filter Market – Segment by Region
Rest of the World
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