Global Aerosol Market is expected to reach USD 70.15 billion by 2020, according to a new study by Grand View Research, Inc. The global aerosol market is expected to witness growth primarily due to growing use in personal care and household applications. These together accounts for the lion share of the application market and are expected to witness growth in line with the end use industries. Global aerosol market growth is primarily dependent on demand dynamics in applications including personal care, household, paints, medical and others including food, automotive and adhesives.
Personal care was the largest application segment in 2013 owing to new product development in Europe and North America coupled with increasing cosmetics demand from Asia Pacific and Latin America. The segment had an estimated demand of over 6.0 billion units in 2013 and consists of products including deodorant, hair care and body care.
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Further key findings from the study suggest:
- Global aerosol demand was estimated at 14.61 billion units in 2013 and is expected to exceed 18.0 billion units by 2020, growing at a CAGR of 3.1% from 2014 to 2020.
- Household aerosol applications are expected to witness fastest growth at an estimated CAGR of 3.5% from 2014 to 2020 owing to rapid globalization and growing organized retail industry resulting in increasing demand for furniture, wall coverings and other household products. Growing awareness regarding hygiene coupled with growth of home furnishing market is expected to drive aerosol growth in household applications.
- Europe was a major regional market with an estimated demand of over 5.0 billion units in 2013 owing to high demand in personal care, household and medical applications. The region is expected to witness below average growth rate owing to VOC and CFC emission related regulations which are expected to restrict aerosol demand.
- Asia Pacific is expected to be the fastest growing regional market due to relaxed regulatory scenario and high demand for cosmetics and household products. The region is expected to grow at a CAGR of 4.1% from 2014 to 2020. Growing use of personal care products such as deodorants and shaving creams among younger population in emerging markets including India and China is expected to have major impact on market growth. In addition, increasing old age population has propelled use of aerosol in anti-ageing cosmetic products.
- Key market participants are making extensive efforts for developing sustainable alternatives which use fewer amounts of raw material and energy with low carbon footprint and high recyclability. Global aerosol market is characterized by innovation and new product development as measures to sustain competition. P&G, S C Johnson, Henkel and Reckitt Benckiser are key market participants.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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