The increasing disposable income is allowing people around the world to spend on dry shampoos, hair sprays, shaving creams, deodorants, mousse foundations, and other personal care products. Owing to this reason, the global aerosol market size is predicted to experience a 6.4% CAGR between 2020 and 2030, to reach $149.7 billion in 2030 from $81.1 billion in 2019, according to P&S Intelligence.
The key reason behind the increasing demand for personal care products is the increasing awareness about personal hygiene. Moreover, the launch of innovative personal care products is a strong aerosol market driver, as is the advent of cosmeceuticals. For instance, in September 2019, Dove introduced an aluminum-free deodorant, while in August 2020, NIVEA launched a deodorant containing milk.
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During the COVID-19 crisis, many manufacturing plants, except those producing essential commodities, were shut down to contain the spread of the disease. This negatively affected the aerosol market, as the production and sales of lubricants, paints, cleaners, and greases declined significantly. However, with a drop in cases, governments around the world have begun lifting the lockdown, which is expected to propel the market on the path to resurgence from 2021.
The liquified gas bifurcation, under the propellent type segment, is projected to witness the higher value CAGR, of 6.5%, in the aerosol market during this decade. Products packed with liquified gas are under enough pressure to come out of the can easily. With the reduction in the amount of the actual product inside the can, more propellent evaporates to create ample pressure to force the product out.
In the years to come, the aerosol market, on the basis of product type, will be dominated by the hydrocarbons category. The usage of hydrocarbons, such as propane, butane, and isobutane, as the propellent leads to the creation of ample pressure and reservation of almost 85% of the space inside the can for the actual product.
Browse detailed report with COVID-19 impact analysis on Aerosol Market Research Report: By Propellant Type (Liquefied Gas, Compressed Gas), Product Type (Dimethyl Ether, Hydrocarbons, Nitrous Oxide & Carbon Dioxide), Packaging Material (Aluminum, Steel, Plastic), End Use (Personal Care, Household, Food Products, Paints & Coatings, Medical, Automotive & Industrial) – Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/aerosol-market
The aluminum classification held the largest share in the aerosol market in the past, based on packaging material. Aluminum cans are lightweight, recyclable, and aesthetically pleasing, which drives the usage of this metal for packaging aerosols.
Presently, the highest revenue for the companies in the aerosol market is generated by the personal care category, under segmentation by end use. The demand for hair setting sprays, deodorants, and make-up setting sprays is continuously rising with people’s growing purchasing power, thereby driving the consumption of aerosols.
Europe has been the largest aerosol market till now, on account of the rising demand for personal care products, especially those used for skincare purposes. Other sectors of the continent where the requirement for aerosolized products is high include automotive, industrial, and household. The fastest growth in the market in the years to come is expected in Asia-Pacific (APAC), as a result of the surging sales of shampoos, conditioners, liquid soaps, shower gels, antiperspirants, deodorants, and men’s grooming products.
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Major players in the global aerosol market are Arkema Group, Akzo Nobel N.V., The Chemours Company, Linde Plc, Henkel AG & Co. KGaA, Royal Dutch Shell p.l.c., Diversified CPC International, Honeywell International Inc., Grillo-Werke AG, and Emirates Gas LLC.
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