Aerosol Market Projected to Attain $75,208.9 Million in 2023

Several industries are witnessing considerable growth as the developing countries, including Malaysia, China, India, and Brazil, are registering swift industrialization. For example, the food & beverages industry in the U.S., China, and India is growing due to the rising disposable income of people. The living standards and food habits of consumers are changing, which is why they are spending increasingly on different food and beverage items. Similarly, the automotive industry is also registering considerable growth, as people are able to spend more on automobiles for their personal use. These industries make extensive utilization of aerosol products for different applications, which is why their growth is resulting in the increasing demand for aerosol.

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Aerosol is a substance that is packaged under pressure and is dispensed and released as a fine spray by means of propellant gas through a container. As per a report by P&S Intelligence, in 2017, the global aerosol market reached a value of $53,871.6 million and is expected to attain $75,208.9 million in 2023, witnessing a 5.8% CAGR during the forecast period (2018-2023). Among the different regions, namely Asia-Pacific, Europe, North America, and Rest of the World, Europe created the largest demand for aerosol during 2013-2017. The fastest growth in demand is expected to be generated by the APAC region in the coming years.

There are several applications of aerosol including insecticide, household, personal care, food & beverages, paints & varnishes, and automotive. Some other applications are technical and medical. Out of these, the highest demand for aerosol was created for the personal care application during 2013-2017 and the situation is projected to remain the same during the forecast period as well. The fastest growth in demand for aerosol is expected to be witnessed by the insecticide application in the near future. The utilization of aerosols as insecticides generate less waste than other insecticides, since they are designed to deliver a specific amount of poison and are metered.

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The expanding personal care industry is a key driving factor of the aerosol market, owing to the fact that aerosols are utilized widely in several products, including dry shampoo, body spray, hair spray, shave cream, deodorant, and mousse foundation, in the personal care industry. The growth of the personal care industry is taking place because of the rising disposable income of people, which is allowing them to spend on luxury personal care products. In addition to this, the development of advanced and enhanced products, such as cosmeceutical (pharmaceutical & topical cosmetics) and other multifunctional products is further predicted to drive the industry.

The rising requirement for aerosols in packaging applications for different products, such as insecticides, household cleaners, paint sprays, & cosmetics, is opening up wide opportunities for players operating in the aerosol domain. Aerosol packaging provides easy application of insecticides and household products, without any skin contact, which is a significant characteristic for these products. Apart from this, aerosol products have a longer shelf life and remain fresh for a long time. This is projected to drive the demand for aerosol products in the near future.

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