Market Research Future (MRFR) has published on the “Global Setting Spray Market”.
The setting spray market is estimated to register a CAGR of 7.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global setting spray market - Rare Beauty, Sugar Cosmetics, e.l.f Cosmetics, Inc., Lakme Cosmetics (Unilever), L'Oréal, Urban Decay, Swiss Beauty, Charlotte Tilbury Cosmetics, Faces Canada, and Anastasia Beverly Hills.
Setting Spray Market Highlights
The global setting spray market is accounted to register a CAGR of 7.00% during the forecast period and is estimated to reach USD 1.5 billion by 2032.
The growing awareness of personal grooming is expected to drive the setting spray market. The usage of cosmetic products has increased due to their capacity to alter the skin's, face's, or body's overall aesthetic appearance. College students and working women are more likely to utilize these products since they often use them to look elegant, sophisticated, and professional. Consequently, the growing number of working women is driving up demand for the setting spray. Various treatments, such as setting sprays, are available in the market and can be used based on the skin tone of the wearer. Furthermore, the primary factors driving the demand for spraying are innovative packaging trends and persuasive marketing strategies.
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Segment Analysis
The global setting spray market has been segmented into type, end-use, and distribution channel.
On the basis of type, the market is segmented into Oil-control Setting Spray, Hydrating Setting Spray, Matte Setting Spray, Radiant/Dewy Setting Spray, Waterproof Setting Spray, and Others. The matte setting spray segment was attributed to holding the largest market share in 2023. Customers with oily or mixed complexion choose matte setting sprays because they help manage excess oil and maintain shine all day. By eliminating the appearance of a shiny or greasy face, matte setting sprays extend the wear time of makeup. Additionally, rising utilization will quicken the segment's growth even more.
Based on end-use, the global setting spray market has been segmented into Professional and Personal. The professional segment was expected to hold the largest market share in 2023. Setting sprays with outstanding makeup endurance are essential for professional use, particularly for performances, events, and long-wearing makeup looks. To ensure client pleasure, makeup artists strive to create looks that linger for hours without requiring frequent touch-ups. Therefore, it is expected that the expanding quantity of setting spray and the high-quality services will hasten the business's growth.
Based on distribution channel, the global setting spray market has been segmented into Specialty Retail Stores, Supermarket and Hypermarkets, Pharmacy & Drugstore, Online, and Others. The online segment was expected to hold the largest market share in 2023. Setting spray manufacturers have expanded their market access by reaching a wide range of consumers globally through online retail and e-commerce platforms. Setting sprays are browsed and bought online, and doorstep delivery alternatives are offered for a hassle-free buying experience.
Regional Analysis
The global setting spray market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe setting spray market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The setting spray market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World setting spray market comprises the Middle East, Africa, and Latin America.
The largest market share for setting spray was maintained by the North American regional sector. Over time, consumers in North America have reported spending an average of yearly more on cosmetics and personal hygiene goods, which has contributed to the expansion of the market in the region. Product innovation in this category is fueled by the region's strong beauty and personal care companies and well-established and expanding cosmetics sector. Additionally, the main companies in this area concentrate on important market tactics like partnerships, collaborations, product launches, mergers, and acquisitions.
Moreover, the Europe market has been persistently growing over the forecast period. The cosmetics and personal care sector is boosting the competitiveness of the European economy for future prosperity by drawing in outside investments, creating intangible assets like brands, and allocating funds for R&D. The Personal Care Association of Europe reports that as of 2022, the majority of the 500 million customers in Europe value their health and self-esteem and use cosmetics on a daily basis. The European market for cosmetics, which includes setting sprays, is driven by the strong presence of companies in the region.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. The commercialization of cosmetics and personal care goods is being driven by rising consumer expenditure as well as celebrities' preference for high-end cosmetic companies. Sales in the expanding industrial sector are also boosted by the rising per capita incomes in developing nations like Singapore, South Korea, Japan, India, and so on. In addition, the personal care sector in developing countries has a large market potential and is expected to increase significantly during the forecast period.
Furthermore, the rest of the world's setting spray market is divided into the Middle East, Africa, and Latin America. Some of the key factors propelling the growth of the rest of the world setting spray market include the growing trend of multitasking beauty products that provide additional skincare benefits in addition to setting makeup, the growing demand for natural and organic beauty products, and the growing popularity of makeup among younger generations. Furthermore, ongoing product innovation has resulted in the creation of novel and sophisticated setting sprays that appeal to consumers with a variety of advantages, including long-lasting formulae and extra skincare benefits.
Key Findings of the Study
- The global setting spray market is expected to reach USD 1.5 billion by 2032, at a CAGR of 7.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market, driven by the desire of celebrities for high-end cosmetic brands and an increase in consumer spending.
- Based on type, the matte setting spray segment was attributed to holding the largest market in 2023, with an approximate market share of 42%.
- Rare Beauty, Sugar Cosmetics, e.l.f Cosmetics, Inc., Lakme Cosmetics (Unilever), L'Oréal, Urban Decay, Swiss Beauty, Charlotte Tilbury Cosmetics, Faces Canada, and Anastasia Beverly Hills are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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