Aerosol market is anticipated to witness tremendous growth generating more than $90 Billion in revenues by 2023, and is expected to grow at a CAGR of more than 3% during 2018–2023
According to the latest Aerosols market report by IndustryARC, titled “Aerosol Market: By Application (Personal Care, Household, Commercial, Food, Medical); By Geography (Americas, Europe, Asia-Pacific, RoW) - (2018-2023)”, the market is estimated to grow with a CAGR of 3.16% during the forecast period, and will reach $93.89 billion by 2023.
Europe held major market share during 2018-2023
Europe remains the prominent region for the growing demands for Aerosols Market, owing to the significant growing consumption of personal care products in countries such as Germany and the UK. The key end user markets in Europe are personal care, household products, food, and medical devices. Cosmetics and household products represent approximately 80% of the European production share. Countries such as the UK, Germany, Italy, and France hold the key manufacturing hubs. The European Aerosols Market is projected to reach $41 billion in 2023 at a CAGR of 2.85%.
Selected type of Patent Analysis done in the full report
The patents for aerosol were granted across many application areas, including personal care, medical applications, food & beverages along with other niche sectors and processes. Moreover, new developments and inclined investments into the R&D department has also led to this increase in new patent registrations. Many individuals as well as small organizations have also filed a considerable number of patents. However, encouraging consumers to swap traditional products for aerosol based products is a major challenge for product penetration.
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Excerpts on Driving Factors Mentioned in the Full Report:
Personal Care has been identified as the major growth driver for the market and deodorants is one of the major revenue generators as it contributed a major chunk to the personal care market. Also, convenience coupled with growing consumer demands for aerosol products are set to drive the market in the coming future.
Adding to the above, spray paints in construction and automobile industry is another application area. Automotive aerosols are used as brake cleaners and fuel-engine intake cleaners. The only disadvantage of these cleaners are emissions of Volatile Organic Compounds. The Volatile Organic Compounds list encompasses numerous elements from propane to DICHLOROBENZENE
Aerosols need no introduction as the populace very well connects with the protection of the products that are free from external contamination. This, coupled with the property of the packaging being completely recyclable, makes aerosol a unique delivery system. Automotive & Industrial aerosols are used as engine and general purpose degreasers, carburetors, and/or brake cleaners.
The key factor that has facilitated the growth of the top players in this highly competitive market is their ability to cater to the customer’s requirements and early entrance into emerging application areas, such as food & beverages.
Aerosols can largely be used in household applications such as in insecticides. Aerosol propellants are used to discharge food additives/colorants such as whipped cream and cooking spray. They are also increasingly being used for innovative packing solutions in the beverages industry.
The key factor that has steered the growth of the aerosol manufacturers in this competitive market is their potency and caliber to match the customer requirements and their early penetration into emerging application areas such as food & beverages.
Key players of Aerosols Market: SC Johnson & Son Inc. is considered as the market leader, deploying umpteen aerosol solutions. The family company accounts for the highest market share in total aerosol air-freshener revenue and is the predominant player.
Companies Cited/Referenced/Interviewed: AkzoNobel N.V. Colep UK. Ltd. Crabtree and Evelyn Ltd. Henkel AG Co KGaA Honeywell International Inc; Procter & Gamble Reckitt Benckiser Group Plc. Thymes LLC Unilever Plc. And 50+ Companies
Aerosols Market Report is segmented as indicated below. Aerosols Market By End-Users: 1. Personal Care 2. Household 3. Commercial 4. Food 5. Medical 6. Others Aerosols Market By Geography (Covers 15+ Countries) Aerosols Market Entropy Company Profiles Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer. Any other major customizations can be discussed with our team, we can provide a separate quote based on your requirements. You can drop an e-mail to [email protected] to discuss more about our consulting services.
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