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Setting Spray Market Expected to Achieve US$ 1,772.6 million by 2034, Growing a CAGR of 6.10% from 2024 to 2034 | Future Market Insights, Inc.

Growing Emphasis on Personal Care and Self-grooming Products Drive Consumer Demand for Long-lasting Setting Spray Products. Fueled by rising beauty trends and consumer demand, driving a 6.10% CAGR during forecast period. Key drivers include beauty industry growth and social media influence.

NEWARK, Del, Dec. 21, 2023 (GLOBE NEWSWIRE) — The estimated global market for setting sprays is around US$ 980.5 million in 2024. In 2023, the market was valued at US$ 925.9 million. The market is projected to exhibit a CAGR of 6.10% and reach US$ 1,772.6 million by 2034.

Post-pandemic, there is a growing emphasis on personal care, especially self-grooming products and solutions, that give a better appearance and have multifunctional properties. This has amplified the demand for setting sprays in the general population all over the world. Setting sprays allow individuals to achieve polished and long-lasting makeup looks effortlessly.

Setting sprays have found a significant place in industrial and residential personal care settings. The demand for setting sprays in recent years is attributed to their applications in the entertainment industry, such as films, television, dramas, etc. Due to their growing demand, salons and local make-up studios have also started incorporating services associated with setting sprays.

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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.

“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.

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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.

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.

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Key Market Segmentation

By Application:

  • Before Makeup
  • After Makeup

By End User:

By Distribution Channel:

  • Online
  • Offline
    • Supermarkets and Hypermarkets
    • Retail Stores
    • Others

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

Authored by:

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 about Consumer Retail Goods. 

Her work primarily focuses on facilitating strategic decisions, planning and managing cross-functional business operations technology projects, and driving successful implementations. She has helped create insightful, relevant analyses of Food and 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. 

Have a Look at Related Research Reports of the Consumer Product Domain:

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The silicone makeup sponge market is anticipated to register a CAGR of 7% during the forecast period, up from US$ 638.58 Million in 2022 to reach a valuation of US$ 1256.19 Million by 2032.

With a 26.7% projected CAGR from 2023 to 2033, the beauty subscription market is expected to reach a valuation of US$ 10.2 Billion by the end of the forecast period.

The beauty and personal care product market size is estimated to be valued at US$ 5,45,284.4 million in 2024. The market is projected to cross a valuation of US$ 9,95,103.4 million by 2034. 

The demand in the herbal beauty products market is anticipated to grow at approximately 6.3% CAGR between 2023 and 2033. The market for herbal beauty products may reach US$ 73.0 billion in 2023. 

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 over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Originally published at https://www.einpresswire.com/article/676643690/setting-spray-market-expected-to-achieve-us-1-772-6-million-by-2034-growing-a-cagr-of-6-10-from-2024-to-2034-future-market-insights-inc

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