The setting spray market is poised for a touch-up, with a projected valuation of US$ 1,772.6 million by 2034, reflecting a compelling CAGR of 6.10%. This growth paints a clear picture for decision-makers in the cosmetics industry: the setting spray market is a lucrative opportunity waiting to be seized.
Factors Fueling Market Growth:
- Beauty on the Rise: The overall beauty and cosmetics industry is flourishing, with consumers prioritizing products that enhance and extend their makeup wear. Setting sprays perfectly align with this trend, offering a solution for long-lasting, flawless makeup application.
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- The Power of Social Media Influence: The daily makeup routine is no longer confined to special occasions. Actresses and beauty bloggers on social media platforms like Instagram and YouTube are leading the charge, inspiring a daily makeup routine for many. Setting sprays become an essential tool for these consumers, ensuring their makeup stays camera-ready throughout the day.
- Celebrity Influence & Brand Endorsements: Collaborations with celebrities and makeup artists hold immense power in shaping consumer preferences. Partnering with these influencers can significantly boost brand awareness and drive demand for your setting spray products.
Untapped Potential for Growth:
- Cater to Diverse Consumer Needs: Not all makeup users are created equal. Develop a range of setting sprays formulated for different skin types and desired finishes (matte, dewy, etc.) to cater to a wider audience.
- Innovation Beyond Hold: Today’s consumers seek multi-functional products. Expand your setting spray offerings by incorporating additional benefits like hydration, sun protection, or blue light filtering for a more holistic approach.
- Embrace Sustainability: Eco-conscious consumers are on the rise. Develop and promote setting sprays formulated with sustainable ingredients and eco-friendly packaging to appeal to this growing market segment.
Key players in the setting spray market are investing billions of dollars in developing new formulations of their products. To cater to the demand of eco-conscious consumers, these industry giants are curating products with sustainable sourcing, manufacturing, and packaging.
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“There are growing concerns about the ill effects of setting sprays in the general population all over the world. Key players are focusing on their marketing strategies to eliminate these myths and negative perceptions in the global market to ensure continued consumer trust”, opines Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Key Takeaways from the Market Study
- Matte-type dominates the global setting spray market with a 21.60% share in 2024.
- Setting sprays curated for individuals with normal skin dominate the global market with a remarkable share of 41.00%.
- The setting spray market in India is predicted to grow at a remarkable CAGR of 6.50% through 2034.
- The setting spray market in China is predicted to rise at a 6.30% CAGR through 2034.
- The setting spray market in the United States has the potential to increase at a 6.00% CAGR through 2034.
- The Australian setting spray market is predicted to rise at a 6.60% CAGR through 2034.
- The setting spray market in Canada is predicted to grow at a CAGR of 6.20% through 2034.
Competitive Landscape
- Industry leaders such as Estee Lauder Companies Inc., L’Oreal Paris, Swiss Beauty, and Faces Canada wield substantial influence, collectively contributing to a significant portion of the setting spray market’s overall valuation.
- Market players are actively investing in research and development initiatives to enhance the affordability, sustainability, and accessibility of setting sprays.
- The market also includes the presence of smaller companies. These companies often address specific consumer needs or preferences, bringing innovation and variety to the market.
Recent Developments
- MyGlamm recently launched the ‘Set On You Setting Spray,’ a skincare-infused, alcohol-free, vegan formula designed for all skin types, catering to the on-the-go needs of beauty enthusiasts, offering both makeup preservation and hydration.
- In 2022, Urban Decay introduced the All Nighter Vitamin C Makeup Setting Spray, featuring a reformulated mist infused with vitamin C and cactus flower water.
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Key Companies
- Lakme Cosmetics
- Beauty Icons AB
- Purplle
- AS Beauty
- Groupe Clarins
- Morphe Brushes
- Estee Lauder Companies Inc.
- L’Oreal Paris
- Swiss Beauty
- Faces Canada
- Sugar Cosmetics
- Daily Life Forever52
- Esme
- Insight Cosmetics
- e.l.f. Cosmetics, Inc.
Key Market Segmentation
By Application:
- Before Makeup
- After Makeup
By End User:
- Commercial
- Residential
By Distribution Channel:
- Online
- Offline
- Supermarkets and Hypermarkets
- Retail Stores
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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