The setting spray market is expected to be valued at USD 980.5 million in 2024 and rise to USD 1,772.6 million by 2034. The global setting spray market is expected to grow at a CAGR of 6.10% during the forecast period.
Key Market Drivers
The setting spray market generated an estimated revenue of USD 747.4 million in 2019. In the span of four years, the market grew at a CAGR of 5.50% through 2034. Several reasons can be attributed to this growth:
| Attributes | Key Statistics |
|---|---|
| Setting Spray Market Value (2024) | USD 980.5 million |
| Anticipated Market Value (2034) | USD 1772.6 million |
| Value-based CAGR (2024 to 2034) | 6.10% |
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The market for setting sprays relies heavily on changing trends in the makeup and skincare industry. The market is also influenced by the dominance of social media influencers all over the world. Economic conditions, like inflation, low disposable incomes, etc., also decide the market's fate in that region. In the last few years, the market for setting spray has seen a series of ups and downs.
During the pandemic, as the world faced shutdowns, people spent most of their time in their homes. This meant there was an increasing focus on self-care, especially their appearance. This amplified the demand for setting sprays in the global marketplace. Besides this, in the initial stages of the pandemic, the market experienced a rapid plunge in the growth rate due to disrupted supply chains worldwide.
As the world got accustomed to the new normal, the market soon picked up the pace. The emergence of the eCommerce sector in developing and underdeveloped economies also helped the market gain momentum. However, with the opening of events, the film industry, and outdoor recreational activities, the demand for setting spray has skyrocketed in the last few years.
| Attributes | Key Statistics |
|---|---|
| Setting Spray Market Value (2019) | USD 747.4 million |
| Historical Market Value (2023) | USD 925.9 million |
| HCAGR (2019 to 2023) | 5.50% |
The setting spray market is anticipated to surpass a global valuation of USD 1,772.6 million by 2034, growing at a CAGR of 6.10% over the forecast period. While the market is expected to experience substantial growth, several restraining factors are adversely affecting its development:
Matte setting sprays are one of the main components of hair makeup products across the world. Their dominance in the personal grooming industry is due to their ability to provide a long-lasting makeup hold. They help set the makeup in place, preventing it from fading, smudging, or transferring. As a result, they are favored in the photography and filming industry, which form one of the largest consumer groups in this market.
| Attributes | Details |
|---|---|
| Top Product Type | Matte |
| Market share | 21.60% |
On the basis of product type, matte setting sprays dominate the global market with a whopping share of 21.60%. They are also highly demanded in the international marketplace for their oil-absorbing properties. They help control excess sebum production on the skin, making them a perfect choice for individuals with oily or combination skin types. Apart from this, matte setting sprays also give the illusion of smoother skin by minimizing the appearance of pores.
In the past few years, people from around the world have increasingly been seeking skincare solutions that help them maintain a polished and refined look that lasts throughout the day without the need for frequent touch-ups. Setting spray has gained significant popularity among such individuals for its ability to enhance makeup longevity and provide an immaculate finish.
| Attributes | Details |
|---|---|
| Top Skin Type | Normal |
| Market share | 41.00% |
Based on skin type, setting sprays curated for individuals with normal skin dominate the global market with a remarkable share of 41%. Besides this, the rising popularity of setting sprays with added skincare benefits, such as hydration and antioxidant properties that contribute to the overall health and appearance of their skin, has also fueled the growth of this market.
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The section provides an analysis of the setting spray market by countries, including China, India, the United States, Canada, and Australia. The table presents the CAGR for each country, indicating the expected growth of the market in that country through 2034.
| Countries | CAGR (2024 to 2034) |
|---|---|
| Australia | 6.60% |
| India | 6.50% |
| China | 6.30% |
| Canada | 6.20% |
| The United States | 6.00% |
Australia is one of the leading countries in this market. The Australian setting spray market is anticipated to retain its dominance by progressing at a CAGR of 6.60% till 2034.
The Australian continent is characterized by extreme weather conditions with high temperatures and intense sunlight throughout the year. The demand for setting sprays in Australia is primarily due to the need to combat makeup issues caused by heat and UV exposure. This has made setting sprays one of the main components of the make-up industry among individuals seeking makeup durability in challenging weather conditions.
India is one of the largest markets for setting sprays in the Asian region. India's demand for setting sprays is projected to rise at a 6.50% CAGR over the forecast period.
The setting spray market in India is experiencing growth due to the rising beauty consciousness among consumers. As more individuals in India adopt makeup as part of their daily routine, there is an increased demand for products like setting sprays to ensure long-lasting and flawless makeup throughout the day. The influence of Bollywood celebrities and social media influencers play a significant role in promoting products like setting sprays in India.
China is another Asian country that is leading in this market. The demand for setting spray in China is projected to rise at a 6.30% CAGR over the next ten years.
China is home to one of the largest populations in the world. With the rising disposable incomes of the Chinese middle class, more consumers can afford cosmetics and skincare products. This has a significant impact not just on the domestic market but also on the international marketplace. Moreover, Chinese consumers often look to Western beauty trends and make-up inspirations that usually consist of setting sprays. These factors collectively influence the popularity of setting sprays in China.
The market in Canada is poised to showcase a CAGR of 6.20% from 2024 to 2034.
There is an ongoing trend in Canada toward multifunctional beauty products that not only set up makeup but also offer additional skincare benefits, such as hydration and UV protection. Setting sprays is a perfect solution for consumers seeking such products. Like Australia, the Canadian setting spray market is also influenced by the country's diverse climate, ranging from cold winters to warm summers.
The United States’ setting spray market is anticipated to register a CAGR of 6.00% through 2034.
Beauty influencers and makeup artists significantly influence the setting spray market in the United States. Social media influencers hold significant sway over consumer choices by providing their reviews and recommendations, which ultimately contribute to the popularity of particular setting spray brands and formulations.
The market for setting sprays is characterized by the presence of players like Estee Lauder Companies Inc., L'Oreal Paris, Swiss Beauty, Faces Canada, etc. These players hold a significant part of the overall setting spray market. Market players are inclined to invest in research and development to increase the affordability, sustainability, and accessibility of setting sprays. There is a presence of smaller companies, too, in the market. These companies bring niche or specialized products to the market, catering to specific consumer needs or preferences.
Recent Developments
The global setting spray market is expected to be worth USD 980.5 million in 2024.
The market for setting sprays is expected to reach USD 1,772.6 million by 2034.
The setting spray market is growing at a CAGR of 6.10% from 2024 to 2034.
Some of the key players in the market are Estee Lauder Companies Inc., L'Oreal Paris, Swiss Beauty, Faces Canada, etc.
Matte setting sprays dominate the market, with an overall share of 21.60%.
| Market Size (2021) | USD 1.5 Billion |
|---|---|
| Market Size (2032) | USD 2.57 Billion |
| Market CAGR | 5% |
| Market Value (2022) | USD 638.58 Million |
|---|---|
| Market Value (2032) | USD 1256.19 Million |
| Market CAGR (2022 to 2032) | 7% |
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Setting Spray Market
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