Understanding the Dynamics: Setting Spray Market's Projected Growth at 6.10% CAGR by 2034

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.

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