The Latin America, Middle East and Africa Setting Spray Market would witness market growth of 11.2% CAGR during the forecast period (2022-2028).
As consumers become more aware of the ingredients and sustainability of the cosmetics they buy, natural and vegan cosmetics are becoming more and more popular. Consumers that care about the environment are also prepared to pay more for organic and sustainable goods, as shown by the Who Cares, Who Does study. For example, eco-active households spend more on cosmetics than the typical household. This highlights a chance for beauty businesses to comprehend the way of life changes brought on by the pandemic and, consequently, the evolution in necessities in customers' lives.
Since consumers are looking for easier routines and a more "natural" appearance, the need for setting sprays with organic ingredients is rising. When a product meets its shifting needs, consumers will binge on it. In the cosmetic and skin care industry, "sustainable," "natural," and "derma" are some of the many ways to "premium" internationally. Convenience is now crucial, and items with long shelf lives and use cases succeed. Customers spend more wisely, maximizing their purchasing power to simplify their lives, uphold their principles, or indulge in their aspirations.
A rise in consumer demand for cosmetic products for daily grooming in nations like Brazil and Chile propels the demand for setting sprays. Brazilian Association of Personal Hygiene, Perfume, and Cosmetic Industry (ABHIPEC) figures show that sales of cosmetic products in Brazil increased to 4.3% percent in volume in 2021, making the nation as the 4th largest makeup consumer sector. In addition, consumer segments other than women are starting to embrace the cosmetics culture. Also, the untapped potential of the region's varied countries is luring more setting spray manufacturing companies to set up shop here and increase their market share in the coming years. Therefore, the region presents lucrative growth opportunities for the regional setting spray market.
The Brazil market dominated the LAMEA Setting Spray Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $28.1 Million by 2028. The Argentina market is experiencing a CAGR of 11.8% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 10.9% during (2022 - 2028).
Based on Application, the market is segmented into After Makeup and Before Makeup. Based on Distribution Channel, the market is segmented into Offline and Online. Based on End User, the market is segmented into Residential and Commercial. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Setting Spray Market is Projected to reach USD 1.2 Billion by 2028, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L'Oreal Group, The Estée Lauder Companies, Inc., Insight Cosmetics (Reliance Retails Venture Limited), Groupe Clarins, e.l.f. Beauty, Inc., Beauty Icons AB, Vellvette Lifestyle Private Limited (SUGAR Cosmetics), AS Beauty LLC, Hindustan Unilever Limited (Lakme Cosmetics) (Unilever PLC) and SWISS BEAUTY Cosmetics.
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