"There are a lot of players. Why? I wouldn't have a damn clue. Unless it's an easy way of making a quid," the managing director of CoverUp Sunscreen tells Fairfax Media.

Mr Nicholls is one of a bevy of large and small sunscreen sellers across Australia competing for a slice of the sun-care dollar in a country with one of the highest rates of skin cancer in the world.

The industry is extremely crowded and has a confusingly wide range of products and prices.

Woolworths alone stocks around 50 different sunscreen products from around seven different brands. Sunscreen manufacturers estimate the Therapeutic Goods Administration has approved about 1000 different sunscreen formulas for sale.

The price for 100 millilitres of sunscreen ranges from 90 cents to $19.46 for a Nivea kids sunscreen roll-on. That's without looking at fancy sunscreen cosmetics or zinc products, where the price can go even higher.

Fairfax Media obtained quotes for 500kg of SPF50 sunscreen packed into 100ml tubes from two leading wholesale Australian sunscreen manufacturers. Both came in about $1.90 per 100mls.

To make all this more confusing, all these products essentially do the same thing.

Sunscreens are regulated by the TGA, which requires them to meet strict safety and quality tests.

That means all sunscreens of a given SPF – say 50+ – must provide exactly the same sun protection.

There are many different formulas for sunscreen, which is why there is such a broad variety of active ingredients in the bottles, but they all produce the same result.

It does not matter if it costs $1 or $10, it works the same – or at least, that's the theory. An investigation by Choice discovered four of six SPF50+ sunscreens tested failed to meet TGA guidelines for sun protection.

While good for consumer confidence, TGA laws present a real problem for sunscreen manufacturers, says John Staton​, commercial director at Technical Consultancy Services, who regularly advises on sunscreen manufacturing and design.

Because all sunscreens provide the same protection, manufacturers have to find other ways to slice up the market.

"Market segmentation is a science in itself," he said. "The higher-cost brands are focused on elegance. A product that's [claiming] four-hour water resistance means it has to have some kind of film; it might be oily, it might be sticky. Another product that's got more expensive, non-active ingredients may be more sophisticated."

"Elegance" is becoming a key trend for sunblock consumers, Mr Staton said. But that may not be for the best.

Consumers are demanding a product that feels extremely light on the skin. That needs more expensive ingredients, which is why some brands cost a bit more, he said.

Aerosol sunscreens are the industry response to consumer demands for sunscreen that feels lighter and less oily.

While the sunscreen is exactly as effective, spraying it on is far less effective than lathering, Mr Staton said.

"If you think about it, you're paying for a lot of gas that doesn't hit your skin. They automatically feel lighter, softer, more elegant – because people aren't putting enough on."

Ego, who make the Sunsense range, are so concerned about the effectiveness of aerosols that they have decided against manufacturing a spray-on, Dr Fabrizio Spada​, the company's research manager, told Fairfax Media.

"The problem with aerosols is making sure you spread it correctly. Spraying a pressurised container, a liquid coming out in a cone of droplets, it's unlikely the whole amount you're spraying from the can will make it to their skin.

"Imagine the conditions on the beach; there might be wind, you might be spraying it the wrong way."

So what causes the wide range of prices?

Generally increasing sun protection from SPF30 to 50 costs very little. Some of the added cost comes from extra features such as water resistance. Some comes from manufacturer inefficiency; some makers are just better than others, Mr Staton said.

His advice for consumers? Buy sunscreen that matches your needs. If you want a cheap sunscreen, that's fine, it all works the same. Mr Staton, a keen angler, always makes sure to grab some with water resistance.

Different strokes for different folks. Just make sure to shop around and always read the label.

SUNSCREEN PRICE GUIDE

• Dry Touch SPF50+ Sunscreen in 100ml tubes $1.90/100mls (available wholesale)
• Coles Everyday Sunscreen SPF50+ 1l bottle - $0.90 / 100ml (Coles)
• Woolworths Sunscreen SPF50+ 1L bottle - $0.90 / 100ml (Woolworths)
• Cancer Council SPF30+ Sunscreen Everyday tube - $8.73 / 100ml (Woolworths)  
• Nivea Sun Light Feel Sun Lotion SPF30+ 200ml tube - $9.07 / 100ml (Coles)
• Banana Boat Kids Sunscreen 50+ 75ml roll-on - $15.68 / 100ml (Coles)
• Neutrogena SPF 50+ Sunscreen Ultra Sheer Lotion 85ml tube - $19.41 / 100ml (Coles)
• Sun Kids Roll On Sunscreen SPF50+ 65ml tube - $19.46 / 100ml (Coles)