New York, United States, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Global Setting Spray Market Size is to Grow from USD 898.4 Million in 2022 to USD 1868.4 Million by 20362, at a Compound Annual Growth Rate (CAGR) of 7.6% during the projected period.
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A setting spray is a light mist that is applied to the face after applying makeup. It combines foundation, concealer, blush, bronzer, and powder layers to create a flawless, smooth finish. Its nourishing ingredients, which include water, glycerin, fruit extracts, and light oils, aid in the evening out of makeup and the improvement of the complexion. The combination of water and light oils creates a quick-drying appearance, while glycerin keeps the skin moist. The setting spray can be used both before and after makeup application. Throughout the forecast period, the setting spray market is expected to expand as manufacturers revise their marketing and branding strategies to increase sales in various countries. Furthermore, using natural components in the production of skin-friendly cosmetics and facial care products is a common strategy used by manufacturers to attract more customers. However, several negative factors hamper revenue growth in the global setting spray market. Growing consumer awareness of the potentially harmful effects of cosmetic compounds such as parabens, formaldehyde, lead, aluminum, and triclosan is one of the most significant barriers.
COVID-19 Impact
Despite the pandemic negative effects, the global cosmetics industry is expected to rebound in the coming years. Manufacturers have increased R&D efforts to discover new herbal and organic ingredients that can appeal to customers as consumer preferences shift to therapeutic and organic formulations as organic products gain popularity.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Setting Spray Market Size, Share, and COVID-19 Impact Analysis, By Type (Oil-control, Waterproof, Matte Setting Spray, Hydrating Setting Spray, Others), By Application (Before Makeup, After Makeup), By End-use (Professional, Personal), By Distribution Channel (Supermarket & Hypermarket, Specialty Retail Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The matte setting spray segment is estimated to hold the largest share of the global setting spray market during the forecast period.
Based on the type, the global setting spray market is classified into oil-control, waterproof, matte setting spray, and others. Among these, the matte setting spray segment is estimated to hold the largest share of the setting spray market during the forecast period. Matte setting spray is popular owing to its ability to control skin shine and excess oil, resulting in a desirable matte finish that is particularly appealing to those with oily skin. Also, it effectively sets makeup, extending its longevity and preventing smudging.
The after makeup segment is witnessing significant CAGR growth over the forecast period.
Based on applications, the global Setting Spray market is segmented into before makeup and after makeup. Among these, the after makeup segment is witnessing significant CAGR growth over the forecast period. The rising need for setting spray in this segment can be attributed to the numerous benefits of setting spray in the makeup industry. Setting sprays can assist in reducing the need for midday touch-ups.
The online segment is witnessing substantial growth over the forecast period.
Based on the distribution channel, the setting spray market is segmented into online and offline. Among these, the online segment is witnessing substantial growth over the forecast period. The growth can be attributed to the expansion of the e-commerce industry in emerging markets. China and India, in particular, are experiencing a rise in online cosmetic product browsing and setting spray shopping. Furthermore, as major e-commerce companies strengthen ties with cosmetics producers in developing economies, the setting spray market is expected to grow during the forecast period.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market share over the forecast period. The rising popularity of makeup among younger generations, rising demand for natural and organic beauty products, and the growing trend of multitasking beauty products that offer additional skincare benefits in addition to setting makeup are some of the major factors driving the North American setting spray market growth. Furthermore, social media has a significant impact on the beauty sector in North America.
The Europe market is expected to grow at the fastest rate during the forecast period. The cosmetics and personal care industry is increasing the European economic competitiveness for future growth by attracting external investments, developing intangible assets such as brands, and investing in research and development.
The Asia-Pacific regional setting spray market share is growing at a substantial growth rate. The growth is attributed to commercialization is being fueled by increased consumer spending on cosmetics and personal care products, as well as celebrity endorsements of premium cosmetic brands.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Setting Spray market include Rare Beauty, e.l.f Cosmetics, Inc., Urban Decay, Swiss Beauty, L'Oréal, Sugar Cosmetics, Lakme Cosmetics (Unilever), Faces Canada, Charlotte Tillbury Cosmetics, Anastasia Beverly Hills, Milani Cosmetics, Huda Beauty, Smashbox Cosmetics, NYX Professional Makeup, and among others.
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Recent Developments
In January 2023, HAPTA and L'Oréal Brow Magic are two new technology products from L'Oréal. HAPTA is a computerized makeup applicator designed to help people with arm disabilities meet their beauty needs. L'Oréal Brow Magic is a makeup applicator for the eyebrows.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global setting spray market based on the below-mentioned segments:
Global Setting Spray Market, Type Analysis
- Oil-control
- Waterproof
- Matte Setting Spray
- Hydrating Setting Spray
- Others
Global Setting Spray Market, Application Analysis
- Before Makeup
- After Makeup
Global Setting Spray Market, End Use Analysis
- Professional
- Personal
Global Setting Spray Market, Distribution Channel Analysis
- Supermarket & Hypermarket
- Specialty Retail Stores
Global Setting Spray Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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