Sunscreen Market Rebounds in China
- Chaileedo Press
- Mar 13, 2023
- 3 min read
According to incomplete statistics from CHAILEEDO, a total of 16 new sunscreen products were launched in February 2023.
In recent years, consumer awareness of sun protection has generally increased. The sales of sun protection products have been climbing year by year. CHAILEEDO data show that since 2017, the overall market size of sun protection has been increasing year by year, with an annual growth rate of more than 5%, and the market size reached 9.3 billion yuan ($1.3 billion) in 2022.
However, hit by the epidemic, the launch of new products and marketing moves from the brand appeared conservative last year, with sales of sunscreen, which accounts for 97% of the sunscreen market on the Ali-related platforms, down 12% year-on-year in 2022. During the summer of last year, which was the time that should have been the peak season for sunscreen sales, sales of sunscreen products on Ali-related platforms fell, from 1.8 billion yuan ($260.8 million) in June to 400 million yuan ($58 million) in September.
Unlike last year's sunscreen market, since February this year, major brands have piled up to launch new products. According to CHAILEEDO incomplete statistics, a total of 16 sunscreen new products were launched in February, which is mainly sunscreen emulsion and sunproof cream. The sunscreen spray was relatively few.
Specifically, these new sunscreen products reflect the following major trends.
First, "more than sunscreen+", that is, sunscreen with skincare. The 2022 Sunscreen Trends White Paper released by Tmall Beauty has pointed out that the search UV growth rate for sunscreen efficacy needs such as "skin care", "blemish" and "anti-aging" reached 33.88%. This trend is also evident in the new sunscreen products recently launched by brands. More than six products claim to add skin-nourishing ingredients, CPB new sunscreen products was added skin-nourishing ingredients, which enjoyed ratio increased to 50%. SEKKISEI claimed that the new sunscreen contains up to 70% of beauty essence.
Second, the innovative use of new technology has become a new trend. It is understood that the new sunscreen launched by Shiseido claims to be able to transform harmful light into useful light. New sunscreen from CPB focused on beauty-light technology. Estee Lauder's new sunscreen claims to have the efficacy of anti-sun, anti-oxidant, anti-light.
Thirdly, the sun protection needs of people with sensitive skin are also receiving increasing attention. Last year, sales of Winona sunscreen, the leading brand for sensitive skin, increased by 82.8% year-on-year. In the same year, Dr. Yu launched the brand's first sunscreen for people with sensitive skin.
Fourthly, the price of sunscreen products from local Chinese brands is also showing an increasing trend. The price of new sunscreens from MIHOO and SHELOG both exceeded 100 yuan ($14.5)/50ml, while PROYA's new product surpassed the 200 yuan/50ml, nearly double the pricing of another sunscreen from the brand.
CHAILEEDO interviewed the person in charge of LA ROCHE-POSAY, who said that sun protection products are gradually becoming a growth point in the cosmetics market. "People are quite conscious of protecting their skin health while enjoying the heat of the sun, and sun protection has become an essential skincare step for outdoor enthusiasts."
"Since the fourth quarter of last year, sunscreen market figures have seen a rapid rebound and are maintaining an upward trend, with market conditions gradually improving." In Shi Ling's view, "This year's culture and travel economy has ushered in the New Year and coincides with the approach of the spring and summer festivals, and the demand for sun protection products will increase accordingly. We believe this is good news for both the general market environment and the sunscreen market."
Overall, the sunscreen market is characterized by diversified efficacy, segmentation of the population and high prices for local brands, which can also be seen from the brands' coincidental launch of new products, ushering in new opportunities in the sunscreen market this year.
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