According to a new market report published by BlueWeave Consulting, The Global Aerosol Market was valued at US$ 55,287.6 Mn in 2017 and is expected to expand at a CAGR of 6.7% from 2018 to 2024, reaching US$ 85,121.7 Mn by the end of the forecast period. According to the report, Europe was the largest contributor in terms of revenue to the aerosol market in 2017.
The increasing disposable income of consumers has also given rise to a change in priorities for household items. Noticeable changes in consumer preferences have also given rise to the use of new aerosol based products replacing legacy alternatives. This includes spray cleaners, shiners, and aromatic aerosols. In addition, regular new launches of products under this category have attracted huge customers which are expected to continue driving this market in near future.
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Increasing Disposable Income and Rising Standard of Living is driving the global aerosol market
Increase in standard of living across the globe, particularly faster in the developing economies, along with rapid rise in purchasing power is one of the prime factors driving the growth of this market with good figures. Personal care has been observed as the forerunner in the global market due to escalation of consumer towards personal hygiene and appearance towards others. Past decade has witnessed a rise and introduction of personal care products, especially in the grooming, and skin care category. Along with this, deodorants and other body sprays, including hair spray and toners have given rise to the design and development of new category products.
Aerosol Market: Scope of the Report
The Global Aerosol market is segmented on the basis of material, and application. On the basis of material, the market is segmented into Metal, Glass, and Plastic. Metal was the largest segment in the global aerosol market in 2017 and is estimated to witness the highest growth during 2018-2024. On the application basis, the market is segmented into Personal care, Household, Automotive & Industrial, Paints Coating & Adhesives, Food & Beverages, Healthcare, and Others. Personal care accounted for the largest segment in the global aerosol market in 2017.
On the basis of region, the market is segmented into five parts namely North America, Europe, Asia Pacific, Middle-East & Africa, and Latin America. Europe was the largest region in the global aerosol market in 2017 and it is estimated to grow over a CAGR of 6.7% during 2018-2024.
Aerosol Market: Competitive Dynamics
Companies, such as Reckitt Benckiser Group Plc., Proctor & Gamble Company, SC Johnson & Son Inc., Akzo Nobel N.V., Unilever N.V., and Coster Tecnologie Speciali S.p.A.are the key players in manufacturing aerosol. In terms of product offerings, Reckitt Benckiser Group Plc. and Proctor & Gamble Company are the major players in the market, providing various products of aerosol. Most of the major vendors in the global aerosol market is actively focused on enhancing their offerings to meet the ongoing demand.
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