The global aerosol market size 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).
Aerosol is a system of liquid or solid particles equally distributed through gas and air in a finely divided state. The global aerosol market is expected to be driven by the rising demand for a variety of goods, such as deodorants, hair sprays, hair mousse, dry shampoos, insecticides, air fresheners, cleaning, lubricants, and medical spray. Increasing discretionary spending and shifting consumer habits are major contributors to market expansion.
Growing Demand from Personal Care Products
Aerosol applications include personal care & household products such as hair sprays, deodorants, insecticides, shaving gels, fabric care, air fresheners, furniture polish, oven cleaners, and leather care. The growing use of aerosol propellants in hair sprays, styling mousses, and deodorants & antiperspirants is expected to drive the market further. Some of the key factors driving the global cosmetics market include growing demand for skin care products, advanced beauty treatments, and marketing strategies by manufacturers such as L'Oréal, Unilever, and P&G. In addition, macroeconomic factors such as the rising disposable income of consumers are expected to result in an increased demand for cosmetics and personal care products.
Global beauty & personal care is anticipated to reach USD 855.4 billion by 2028. This is expected to drive the global aerosol market as aerosol finds a broad application scope in various personal care products, including hairspray, dry shampoo, shine spray, sheen spray, mousse, body spray, shaving cream, temporary hair color spray, deodorant. Expanding the hair care industry across the globe, on account of the growing demand for styling agents, is expected to propel the aerosol market growth. The hair care industry is expected to witness significant gains due to rising awareness about grooming and self-image among the male population. The high demand for men's deodorants, including Axe and Old Spice, coupled with ongoing innovations and product differentiation, is expected to spur product demand over the forecast period.
Increasing Use of Respiratory Devices in the Healthcare Industry
Aerosol is used in asthma inhalers and other sprays to treat sunburn, insect bites, pain, and itching problems. Pain relief medications are commonly packed in aerosol form due to their ease of handling and application. Moreover, the growing sports tournaments worldwide are expected to positively impact the demand for medical aerosol in the coming years. Furthermore, the increased prevalence of respiratory disorders such as asthma in low- and middle-income countries, coupled with over 330 million registered cases worldwide as of 2018, is expected to fuel aerosol demand for inhalers.
The global asthma and COPD devices market was valued at USD 34.90 billion in 2011 and reached 51.8 billion in 2020. Increasing incidences of respiratory illnesses such as Chronic Obstructive Pulmonary Disease (COPD) and Obstructive Sleep Apnea (OSA) are high-impact drivers for this industry. COPD is a progressive disease that requires proper medical intervention. The increasing geriatric population and rising rate of environmental pollution have boosted the demand for COPD devices. The rising demand for respiratory devices is expected to increase the importance of aerosol in MDI valves, DPI devices, and check valves in the near future.
The aerosol market aims to provide safe products to its customers, and the products are continuously monitored and checked for discrepancies to avoid customer discomfort. As a result, the market participants must comply with various regulations related to product safety, environmental impact, manufacturing & storage, and transport.
Environmental impact regulations include Sustainable Consumption & Production, Packaging & Packaging Waste Directive, F-gases Regulation (EC) No 842/2006, and VOC Paints Directive 2004/42/EC. Significant accidents in the chemical industry, such as the Seveso accident in 1976, led to the adoption of Seveso II Directive 96/82/EC to prevent accidents involving dangerous substances and limit their consequences on humanity and the environment. ATEX Directive 94/9/EC provides technical requirements to be applied and relevant conformity assessment procedures before placing equipment and protective systems intended for adoption in potentially explosive atmospheres in the European market.
Aerosol solvent substitutes include HCFC, HFC, monochlorotoluene, perfluorocarbons, HFE, petroleum hydrocarbons, chlorinated and oxygenated organic solvents, and terpenes in place of various CFCs that were in use earlier. Aerosol propellant substitutes include saturated light hydrocarbons, dimethyl ether, HFC, alternative processes, compressed gases, and HFO in place of harmful HCFCs and CFCs.
Food is another segment expected to drive aerosol demand significantly over the forecast period. The rising use of aerosols in various food products, including chocolate, whipped cream, ketchup, olive oil, and vinegar, is expected to fuel market expansion over the forecast period. Increasing consumption of ice creams, pies, cupcakes, sundaes, hot chocolate milkshakes, cakes, cheesecakes, waffles, and puddings has driven the global whipped cream market. Due to the uniform and targeted dispersion of aerosol whipped cream, the demand has been observed to be inclining. Furthermore, the growing whipped cream market is also anticipated to benefit the global aerosol market in the coming years. Aerosols help keep the food product 100% intact by creating a barrier between the external environment and the food product, thereby enhancing its shelf life by avoiding contamination. Rising disposable income and changing consumers' lifestyles due to rapid urbanization are expected to influence the market positively. Ongoing product innovation, consumer preferences for high-quality products, and strengthening government food regulations are expected to aid market growth. Increasing the women's workforce is a primary factor driving the demand for packaged foods. This is anticipated to promote the demand for aerosols in food applications over the forecast period.
The global aerosol market is segmented by material, type, application, and region.
By material, the global 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. Aluminum cans offer high strength, lighter weight, and corrosion resistance. Furthermore, aluminum cans hold 100% recyclable properties, making them a preferred material choice. On the other hand, the production costs of aluminum aerosol are higher in contrast with steel due to the increasing tariffs on aluminum and growing power rates. Therefore, to maintain cost advantage, the manufacturers have been launching lightweight aluminum aerosol cans in the market. For instance, in August 2019, Tubex, acquired by Ball Corporation in August 2020, launched a lightweight aluminum aerosol can with a lower wall thickness of aerosol can. The reduced wall thickness resulted in approximately 20% of overall weight reduction. All such factors drive segment growth.
By type, the global 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. Continuous aerosol valves are used for applications where the continuous spray is required. The rising utilization of these valves in food, technical, and homecare products, including insecticides, rodenticides, and decoration products, is expected to drive their demand. The adoption of metered valves for specific personal care products, such as high-end fragrances and selected deodorants, is expected to drive the demand for metered valves.
The bag-on-valve segment is the second largest. Bag-on-valve (BOV) technology is commonly used for liquid or viscous products. It is a barrier packaging technology that contains an aerosol valve fused to a multi-layer laminated aluminum bag, into which the dispensable product is injected through the valve channel. The formulation in any form (liquid, cream, gel, or highly viscous substance) or any position (upright or inverted) can be dispensed with this technology while preserving the product from external contamination to keep it from the fuel. In addition, no preservative needs to be added to the product as the content is completely sealed from any contact with air. Consumers looking for innovative technologies opt for bag-on-valves as these provide a safe, effective, and convenient dispensing solution.
By application, the global 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. Aerosol is used in various personal care products, including antiperspirants, aftershaves, deodorants, and hair sprays. Personal care application dominates the aerosol market in terms of volume and is expected to maintain the leading position over the forecast period. Aerosol packaging prevents the evaporation of its content; this ability of aerosol paves the way for its use in personal care products. Aerosol does not require mixing or measuring and is always ready for use when a button pushes. These factors help boost the consumption of aerosols in consumer care products. Increasing demand for beauty & personal care products worldwide is anticipated to augment the penetration of aerosols in the personal care segment over the coming years.
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 rising trend of online shopping in Europe is expected to significantly contribute to the sales of cosmetics and personal care products. Consumers prefer online shopping owing to benefits such as regular purchasing, a broad product portfolio for a vast range of brands, discounts, promotions, and special deals. Comparing two or more different products of the same or different brands has also triggered the growth of online personal care product shopping. The growing demand for cosmetics and other personal care products, particularly in Germany, Italy, France, Spain, and the UK, can be attributed to consumers' inclination toward grooming, which, in turn, is expected to drive growth to drive the overall market growth. The personal care products market is well-established in Europe, resulting in high aerosol demand.
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, including steel and aluminum, dominated the North American market due to their advantages, such as sustainability and lightweight features of the product. Furthermore, the aluminum aerosol market is expected to experience substantial growth over the forecast period owing to the increasing demand from personal care and household application industries. North America is among the world's most significant industrial production hubs due to the extensive presence of manufacturing companies in the U.S. From aerospace to automotive, all industrial sectors prefer aerosol paints owing to the ease of application. Furthermore, the steady growth of construction activities, especially in Mexico, will likely expand the scope of aerosol paints in the region.
The Asia Pacific is the third largest region. The construction industry in the Asia Pacific region, particularly in India, has been witnessing significant investment from the government and private sector. Favorable government initiatives, such as 100% FDI permitted in the construction sector for cities and townships, have been driving the construction industry in India. The steady growth of the manufacturing industry is also fueling the constriction activities. In addition, the Indian government has launched the 'PMAY - Pradhan Mantri Awas Yojana 2020' scheme, which aims to provide housing for all in urban areas. Paints and coatings are widely utilized in the construction sector; therefore, the rising construction sector is anticipated to drive the demand for aerosols in the Asia Pacific from 2020 to 2025. Asia Pacific paint aerosol application is primarily led by emerging economies such as China and India. Increasing private and public expenditure on infrastructure development in both countries is mainly attributed to the expansion of the aerosol paint application segment in the region. In China, the National Development and Reform Commission (NDRC) has approved over 27 infrastructure projects worth approximately USD 219.43 billion since the beginning of 2018. Aerosol paint is widely employed in architectural painting and construction marking; thus, the increasing development of infrastructure is expected to fuel the demand for aerosol paint in the region in the coming years.
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