2017 and Beyond: Outlook and Market Analysis for Aerosol Growth
In 2014 alone, the international aerosol market was valued at 14.92 billion units and those numbers continue to grow.
The significant growth is a result of increasing focus on health and the need for convenience. Worldwide, the personal health segment of aerosols saw the largest market portion of applications followed by household application.
Developments by large manufacturers including P&G and Unilever in previously untapped markets in the East, and higher living standards coupled with more buying power is sparking demands for these products. Aerosol revenue is expected to grow at a CAGR (compound annual growth rate) of 4.4% from 2015 to 2022.
From medical devices to beauty products, aerosol and bag on valve technology is an emerging constant in our lives. Items like air fresheners, fragrances, spray-on deodorants, and insecticides are more common in the marketplace. Asthma inhalers and medicated sprays provide hygienic health solutions in an easy-to-use package without special medical training. In 2015, the personal care segment was valued at 6,810.6 million units, and it is anticipated grow at a CAGR of 6.6%.
Looking to new trends in aerosol usage, personal health products are expected to maintain a substantial presence in the market, but the insecticides market is projected to see the fastest growth in 2017-2022.
This is due to rising needs for pest control products in the home and for commercial uses. Not to mention, the automotive applications for paint and maintenance continue to increase as well. Spray painting technology for repair and personalization are a popular choice among automotive businesses. More consumers are investing in preventive care options for their vehicles in the form of adhesives, sealants, and lubricants. Aerosol sprays offer solutions for both of these markets.
The food and nutrition area is expected make impressive growth from now to 2022, with an expected increased CAGR of 3.5%. Aerosol valves can be used for a variety of food items including whipped cream, cooking oil, cheeses, and food supplements. The benefits are numerous. Cooking enchantments like olive oil or garlic are dispensed evenly every time. Items like cheese or whipped toppings enjoy a longer shelf life. Aerosol containers provide better product emptying, resulting in better consumer value and less waste.
According to Reportbuyer.com, the personal care application segment was valued at 6,810.6 million units and $19,857.6 million in 2015 with an anticipated growth at a CAGR of 6.6% during the forecast period.
Europe represented a large section of the aerosol market at 5.68 billion units over the last few years and is expected to grow. The strong manufacturing presences for cosmetics in Germany, France, and the UK will bolster these sales.
A rising new market for aerosols is the East Pacific region with an expected CAGR of 3.5% from 2015 to 2022. Increasing construction and automotive requirements of countries like China and India power these growing numbers. Expanding markets in UAE, Saudi Arabia, and other Middle Eastern countries are showing a strong interest in consumer aerosol products. Growing urbanization and contact with global trends drive advancing sales.