PUBLISHER: Grand View Research | PRODUCT CODE: 1405044
PUBLISHER: Grand View Research | PRODUCT CODE: 1405044
The global setting spray market size is expected to reach USD 1.73 billion by 2030, registering a CAGR of 7.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. Many individuals, whether they are makeup enthusiasts or beginners, are looking for products to improve the longevity and finish of their makeup. Setting sprays provide an easy solution to achieve a professional, long-lasting look without advanced makeup skills.
The market's value sales have been driven by convenient accessibility of these cosmetics products through a range of sales channels, including specialty stores, pharmacies, and beauty salons. Furthermore, the growing emphasis of male consumers on skincare and grooming for improved physical appearance and skin care presents promising growth prospects. Increased R&D investments for innovative products also positively impact market expansion.
Consumer preferences have been instrumental in shaping the beauty and personal care product market, with a focus on ongoing trends like sustainability, natural ingredients, health, and convenience. The market is experiencing growth due to increased consumer interest in natural, organic, and vegan beauty products to avoid harmful synthetic chemicals. As a result, consumers are transitioning from traditional beauty products to those with cleaner, eco-friendly labels.
This trend is particularly pronounced among Millennials and Gen Z, who display a heightened preference for natural beauty products compared to the broader consumer base. According to a July 2022 blog post by ESW, 43% of consumers in this age group express a preference for natural skincare, surpassing the 31% of the general consumer population in the U.S.
Furthermore, the market demand is significantly driven by evolving packaging trends and attractive marketing strategies. Anticipated growth in the setting spray industry is attributed to manufacturers adapting their marketing and branding strategies to enhance sales in different regions. Employing natural ingredients in cosmetics and facial care product production, which is gentle on the skin, is a common approach used by manufacturers to attract more customers and boost their revenues. This collective adoption of such strategies by producers contributes to the expansion of the setting spray industry.