Aerosol Market To Generate $149.7 Billion Revenue by 2030

Factors such as the rapid industrialization in developing countries, rising use of aerosols in the personal care sector, and growing automotive refinish industry are projected to propel the growth of the aerosol market at a CAGR of 6.4% during the forecast period (2020–2030). According to P&S Intelligence, the market generated $81.1 billion revenue in 2019, which is expected to reach $149.7 billion by 2030. Moreover, the market is witnessing the surging consumer preference for organic or herbal aerosol personal care products. 

One of the prime factors propelling the demand for aerosols is the growing personal care industry. The surging per capita disposable income is driving the demand for personal care products, which, in turn, is increasing the consumption of aerosols. Thus, manufacturers in the market are escalating their product range. For example, Nivea India Private Limited launched the NIVEA DEO MILK deodorant in August 2020, with milk as the key ingredient. Such developments have boosted the demand for aerosols across the world.

Moreover, the rapid industrialization in developing countries, such as India, China, Thailand, Brazil, and Indonesia, is another key factor driving the aerosol market growth. These countries have witnessed high investments from several multinational companies as they are focusing on shifting their production base to these nations. This is due to the availability of low-cost raw materials and labor in these countries. Thus, with the increase in industrial activities, the demand for aerosols is rising for lubrication and greasing applications.

Geographically, the Asia-Pacific (APAC) aerosol market is projected to record the highest CAGR during the forecast period. This can be attributed to the surging consumption of the chemical in several end-use industries. Moreover, the rising awareness regarding personal care products, including haircare products, men’s grooming products, bath & shower products, and deodorants and antiperspirants; increasing awareness on personal appearance, and rising disposable income have boosted the demand for aerosol products in the region.

Thus, the rapid industrialization in developing countries and growing personal care industry are expected to propel the demand for aerosols during the forecast period.

Report this Page