Portland, OR, March 23, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global setting spray market generated $840.9 million in 2021, and is estimated to reach $1.6 billion by 2031, witnessing a CAGR of 6.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $840.9 Million |
| Market Size in 2031 | $1.6 Billion |
| CAGR | 6.9% |
| No. of Pages in Report | 324 |
| Segments Covered | Application, End User, Distribution Channel, and Region |
| Drivers | Increasing awareness regarding personal grooming |
| The growing use of digital marketing and the popularity of e-commerce | |
| Opportunities | The launch of innovative products |
| Restraints | The increasing awareness among consumers of the potential hazards of substances found in cosmetics like parabens, formaldehyde, lead, aluminum, and triclosan |
| The common negative effects of wearing makeup including breakouts/acne, oily or dry skin, early ageing, clogged pores, skin color changes, allergic reactions, eye infections, and skin cancer |
Covid-19 Scenario:
- Due to the outbreak of the COVID-19 pandemic, manufacturers increased the use of digital marketing. The popularity of e-commerce has contributed to an increase in the demand for cosmetic products like setting spray during the pandemic.
- Import and export restrictions on goods and lockdown measures imposed by governments are key challenges exporters faced during the pandemic.
- However, as the global pandemic situation improved, the market for setting spray now got back on track.
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The report offers a detailed segmentation of the global setting spray market based on application, end user, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables
and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on the application, the after-makeup segment held the highest share in 2021, accounting for nearly three-fourths of the global setting spray market revenue and is expected to continue its leadership status during the forecast period. However, the before makeup segment is expected to display the highest CAGR of 7.6% from 2022 to 2031.
Based on the end user, the residential segment accounted for the highest share in 2021, generating nearly two-thirds of the global setting spray market revenue and is projected to rule the roost by 2031. Simultaneously, the commercial segment would showcase the fastest CAGR of 7.3% from 2022 to 2031.
Based on distribution channel, the offline segment contributing to the highest share in 2021, holding nearly three-fifths of the global setting spray market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The online segment, however, is estimated to grow at the highest CAGR of 7.2% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to more than one-third of the global setting spray market revenue, and is projected to maintain its dominant share in terms of revenue during the forecast period. In addition, the LAMEA region is expected to manifest the fastest CAGR of 7.8% from 2022 to 2031. The other regions analyzed in the study include Asia-Pacific and Europe.
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The leading market players analyzed in the global setting spray market report include Lakme Cosmetics, Sugar Cosmetics, Swiss Beauty, Daily Life Forever52, Estee Lauder Companies Inc., Beauty Icons AB, Esme, AS Beauty, Faces Canada, L'Oreal Paris, Morphe Brushes, Purplle, Groupe Clarins, elf. Cosmetics, Inc., and Insight Cosmetics. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
