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Valued at $53,871.6 million in 2017, the global aerosol market is predicted to surpass $75,208.9 million by 2023, witnessing a CAGR of 5.8% during 2018–2023. Among all regions, Asia-Pacific (APAC) is expected to witness the fastest growth during the forecast period.
The growth of the aerosol market in the APAC region is mainly attributable to the high adoption rate of aerosols, driven by the rising consumer disposable income. Furthermore, the increase in the demand for aerosol-based products such as deodorants and hair sprays, among the young population is also contributing in the growth of the aerosol market.
Factors Governing Aerosol Market
The shift in the preference of consumers toward organic aerosol products has been identified as a key trend in the aerosol market. Usually, aerosols are synthesized using chemicals, which are detrimental to the human skin and can cause related issues, such as rashes, acne, and blemishes. This has increased the interest toward the development and adoption of organic aerosol products.
The growing personal care industry is the major factor driving the progress of the aerosol market. With the expansion of the personal care industry, the demand for aerosols is also expected to increase. The expansion of the personal care industry is mainly attributed to the rising consumer disposable income, which is enabling them to spend on luxury products. As several personal care products contain aerosols, their increasing sale will benefit the market.
The growing demand for aerosols in different products, such as household cleaners, cosmetics, paint sprays, and insecticides, is creating ample growth opportunities for the aerosol market players. This is mainly credited to the ease of application of household cleaners and insecticides, without any hassle or skin contact, provided by aerosols, which is the major reason for keeping the active ingredients of such products in an aerosolized environment.
Aerosol Market Segmentation Analysis
Personal care dominated the aerosol market, among all applications, accounting for over $10,400.0 million in 2017. This is mainly attributed to aerosols’ application in a wide array of personal care products, such as hair sprays, body sprays, shampoos, deodorants, anti-perspirants, and foams. Furthermore, increasing demand for aerosol-based products, both from the young and aged populations, is contributing to aerosol-based personal care market.
Insecticides are expected to witness the fastest growth in the aerosol market during the forecast period. This is mainly due to the ability of aerosol-based insecticides to produce less waste than other insecticides, because they are metered and are designed to deliver a specified amount of chemicals. Moreover, the increasing demand for high-quality agrochemicals, for a better yield, also supports the growth of the insecticide application category.
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|Market Size of Geographies||U.S., Canada, Mexico, Germany, U.K., Spain, China, India, Australia, Japan, Brazil, Saudi Arabia, South Africa|
|Market Players||Reckitt Benckiser Group Plc, The Procter & Gamble Company, S.C. Johnson & Son Inc., Akzo Nobel N.V., Unilever PLC, Thymes LLC, Coster Tecnologie Speciali S.p.A., Honeywell International Inc., Colep Portugal S.A., Henkel AG & Co. KGaA|
Geographical Analysis of Aerosol Market
Globally, Europe was the largest market for aerosols during the historical period (2013–2017), contributing over 35.0% revenue in 2017. It is projected to maintain its leading position in the market during the forecast period. This can be ascribed to the enhanced ultraviolet (UV) protection provided by aerosols to personal care products, foods and beverages, and medical products. Germany would be the largest revenue-generating country in the European aerosol marketin 2023. This is mainly because of the increasing demand for aerosols from the personal care, household product, automotive, and food and beverages industries. Furthermore, companies in the country are launching new aerosol products, which is further boosting its market growth.
During the forecast period, the global aerosol market is expected to witness the fastest growth in the APAC region, mainly due to the rapid development of the personal care industry, coupled with the increasing adoption aerosol-based products in household applications. China is expected to lead the APAC market over the forecast period, on account of the high demand for aerosol-based products from both young and aged populations of the country. Further, China is moving from an export-focused economy to a consumer-driven economy, due to the increasing demand among the population for goods and services, thus propelling the market growth.
Competitive Landscape of Aerosol Market
The aerosol market is consolidated, characterized by the presence of major established companies, such as Colep Portugal S.A., S.C. Johnson & Son Inc., Unilever PLC, and The Procter & Gamble Company.
Reckitt Benckiser Group Plc, Akzo Nobel N.V., Thymes LLC, Coster Tecnologie Speciali S.p.A, Honeywell International Inc., and Henkel AG & Co. KGaA are some other important players operating in the aerosol market.
Recent Strategic Developments of Major Aerosol Market Players
In recent years, major players in the aerosol market have taken several strategic measures, such as product launches and mergers and acquisitions, to gain a competitive edge in the industry. For instance, in November 2017, The Procter & Gamble Company acquired Native Deodorant (a natural deodorant brand) for $100 million. This acquisition helped it widen its portfolio and cater to the requirements of a much larger consumer base, than previously possible.
Market Size Breakdown by Segment
The Aerosol Market report offers comprehensive market segmentation analysis along with market estimation for the period 2013–2023.
Based on Application
Key Questions Addressed/Answered in the Report