A dermatologist breaks down hyperpigmentation treatment beyond the usual suspects. You need exfoliating acids to speed skin turnover, tranexamic acid to quiet melanocytes, pigment suppressors like kojic acid and arbutin, plus antioxidants like vitamin C and niacinamide.
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A single ingredient story even though in this question two ingredients are brought up, vitamin C and retinoids. But sun damage is so much more complicated than just two ingredients. I'm a board certified dermatologist and things you want to look out for when addressing sun damage and more specifically hyperpigmentation and discoloration because that is the most visible sign that you first notice. You want to look for ingredients with glycolic acid lactic acid because those are exfoliating acids that allow your skin to turn over better. Dry tranexamic acid is not an exfoliating acid but that allows your melanocytes to calm down. Following that you want to have ingredients like Kojic acid again not an exfoliating acid, arbutin, licorice root, even something known as diglucosyl gallic acid. Now these types of ingredients help the melanocyte to slow down its pigment production within the cell and then last vitamin C as well as a few other goodies like niacinamide can help minimize the effects of that pigment once it's spread throughout your skin.