Lucrative Growth Expected in Asia-Pacific Aerosol Market in Near Future

The global aerosol market revenue stood at $81.1 billion in 2019, and it is predicted to rise to $149.7 billion by 2030. According to the estimates of P&S Intelligence, a market research organization based in India, the market will exhibit a CAGR of 6.4% from 2020 to 2030 (forecast period). The market is being driven by the surging need for household and personal care products, such as hair sprays, sanitizer sprays, room fresheners, and deodorants.

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The expansion of the personal care sector, on account of the surging disposable income of people and rising per capita expenditure, is fueling the requirement for aerosol products. Thus, in order to cater to the soaring requirement, manufacturers operating in the aerosol market are expanding their range of offerings. For example, Nivea India Private Limited unveiled NIVEA DEO MILK deodorant in August 2020, with milk as the key ingredient. These innovations and advancements in the personal care sector are driving the sales of aerosols.

Besides, rapid industrialization in various developing countries, such as India and China, is also fueling the growth of the industry. Economies, such as Indonesia, Thailand, Brazil, India, and China, have witnessed a sharp surge in investments, with many multinational companies actively focusing on shifting their production facilities to these countries. This is credited to the abundant availability of raw materials and low-cost labor in these nations. In addition, the soaring investments being made in the industrial sector of emerging economies and large-scale use of aerosol sprays for maintenance and cleaning purposes are also predicted to support the expansion of the market in the forthcoming years.

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Depending on the packaging material, the aerosol market is divided into steel, aluminum, and plastic categories. Out of these, the aluminum category contributed the highest revenue to the market in the past. This was because of the extensive use of aluminum as a packaging material for aerosols. Aluminum is a lightweight material and improves the aesthetic appeal of the product and hence, it is being increasingly preferred by manufacturing companies over other packaging materials.

When end use is taken into consideration, the aerosol market is classified into household, personal care, paints and coatings, food products, automotive and industrial, and medical. Out of these, the personal care category is predicted to register the fastest growth in the market in the coming years. This will be because of the soaring use of deodorants, shaving sprays, dry shampoos, and hair sprays. In addition, the growing consumer expenditure on personal care hygiene care products is predicted to further boost the demand for aerosol globally.

Across the world, the Asia-Pacific (APAC) aerosol market is predicted to exhibit rapid expansion in the upcoming years. This will be because of the implementation of lenient regulatory measures and burgeoning requirement for aerosol paints and personal care products in the region. Additionally, the ease of application, aesthetic appeal of aerosol, and uniform propulsion are also fueling the requirement for aerosol in the region. The players operating in the industry are actively focusing on collaborations and product launches to strengthen their market presence.

About P&S Intelligence

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This release was published on openPR.