Aerosol Market Size, Growth And Forecast To 2031

(MENAFN- Straits Research) Introduction

Aerosol is a system of liquid or solid particles consistently distributed across gas and air in a finely divided state. The global aerosol market is expected to be driven by the rising demand for items such as deodorants, hair sprays, hair mousse, dry shampoos, insecticides, air fresheners, cleaning, lubricants, and medicinal spray. Increasing discretionary spending and shifting consumer lifestyles significantly contribute to the market's growth.

Market Dynamics Increasing Use of Respiratory Devices in the Healthcare industry to Drive the Global
Aerosol Market

Aerosol treats sunburn, bug bites, discomfort, and itching in asthma inhalers and other sprays. Due to the simplicity of handling and application, pain relief drugs are commonly packaged in aerosol form. In addition, the increasing number of international sporting events is anticipated to benefit the market for medical aerosol in the coming years. In addition, the rising prevalence of respiratory illnesses such as asthma in low- and middle-income countries and the more than 330 million reported cases worldwide as of 2018 are anticipated to raise demand for inhalers containing aerosol.

In 2011, global asthma and COPD device market was estimated at USD 34.90 billion and was projected to reach USD 51.80 billion by 2020. Increasing occurrences of respiratory diseases, including Chronic Obstructive Pulmonary Disease (COPD) and Obstructive Sleep Apnea (OSA), significantly impact this industry. COPD is a progressive condition requiring appropriate medical treatment. Increases in the elderly population and environmental pollutants have increased the demand for COPD equipment. In the near future, the increasing demand for respiratory devices is anticipated to enhance the significance of aerosol in MDI valves, DPI devices, and check valves.

Food is another sector anticipated to drive aerosol demand over the projected period considerably. The increasing use of aerosols in several culinary products, such as chocolate, whipped cream, ketchup, olive oil, and vinegar, is anticipated to drive market growth over the forecast period. The global whipped cream market has been driven by the rising demand for ice cream, pies, cupcakes, sundaes, hot chocolate milkshakes, cakes, cheesecakes, waffles, and puddings. Due to the homogeneous and focused distribution of aerosol whipped cream, an increase in demand has been noticed. The expanding demand for whipped cream will assist the worldwide aerosol market in the coming years. Aerosols aid in preserving the food product's integrity by forming a barrier between it and the external environment, extending its shelf life by preventing contamination. Rapid urbanization is anticipated to favor the industry due to customers' changing lifestyles and rising disposable income. Ongoing product innovation, consumer preferences for high-quality goods, and tighter government food restrictions will contribute to market expansion. Increasing the number of women in the labor sector significantly boosts demand for packaged goods. This is expected to increase demand for aerosols in culinary applications during the forecast period.

Regional Insights

By region, the global
aerosol market
is segmented into North America, Europe, Asia Pacific, Central & South America, Middle East & Africa.

Europe accounted for most of the market share and is estimated to grow at a CAGR of 6.1% during the forecast period. The increasing popularity of online shopping in Europe is anticipated to contribute significantly to the sales of cosmetics and personal care items. Consumers prefer online shopping due to advantages such as recurring purchases, a vast product selection for various brands, discounts, promotions, and special offers. Comparing two or more goods of the same or other brands has also contributed to the expansion of online shopping for personal care products. The increasing demand for cosmetics and other personal care goods, particularly in Germany, Italy, France, Spain, and the United Kingdom, can be linked to consumers' preference for grooming, which is anticipated to support the expansion of the entire industry. In Europe, the industry for personal care products is well-established, resulting in a significant demand for aerosols.

North America is the second largest region and is estimated to reach an expected value of USD 24 billion by 2030, growing at a CAGR of 4.2%. Metal aerosols, such as steel and aluminum, dominated the North American
aerosol market
due to the product's advantages, such as their durability and lightweight. In addition, the aluminum
aerosol market
is anticipated to exhibit robust expansion throughout the forecast period due to the rising demand from the industries of personal care and domestic applications. Due to the massive presence of manufacturing enterprises in the United States, North America is one of the world's most important industrial production hubs. Aerosol paints are preferred by all industry sectors, from aerospace to automotive, due to their simple application. In addition, the consistent expansion of construction activities, particularly in Mexico, is projected to increase the need for aerosol paints in the region.

The Asia Pacific is the third largest region. The Asian-Pacific region's building industry, particularly India, has witnessed significant government and private investment. Government measures, such as permitting 100 percent FDI in the construction sector for cities and towns, have been propelling the Indian construction industry. The manufacturing sector's constant expansion also supports constriction efforts. In addition, the Indian government has created the PMAY - Pradhan Mantri Awas Yojana 2020 initiative, which aims to provide urban housing for all. The construction industry extensively uses paints and coatings; hence, the expanding construction sector is predicted to fuel demand for aerosols in the Asia Pacific from 2020 to 2025. The paint aerosol market in the Asia-Pacific region is primarily driven by growing economies such as China and India. Increasing private and public expenditures on infrastructure development in both nations are primarily responsible for the growth of the aerosol paint application market. Since the beginning of 2018, the National Development and Reform Commission (NDRC) in China has approved around 27 infrastructure projects totaling approximately USD 219.43 billion. Aerosol paint is commonly used for architectural painting and construction marking; hence, the increasing development of infrastructure in the region is anticipated to increase demand for aerosol paint in the coming years.

Key Highlights

• The global
  aerosol market
  was valued at USD 70 billion in 2021 and is estimated to reach an expected value of USD 130 billion by 2030, growing at a CAGR of 6.5% over the forecast period (2022-2030).
• By material, the global
  aerosol market
  is segmented into aluminum, steel, and others. The aluminum segment accounted for the largest market share and is estimated to grow at a CAGR of 6.9% during the forecast period.
• By type, the global
  aerosol market
  is segmented into bag-on-valve and standard. The standard valve segment accounted for most of the market share and is estimated to grow at a CAGR of 6.3% during the forecast period.
• By application, the global aerosol market is segmented into personal care, household, automotive & industrial, food, paints, medical, and others. The personal care segment accounted for most of the market share and is estimated to grow at a CAGR of 6.1% during the forecast period.