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Spray September 2016

Global Aerosol Overview The global aerosol market is AVA CARIDAD Editorial Director Suppliers speak to SPRAY about aerosol trends and innovations… expected to reach $84.04 billion by 2024, according to a new report by Grand View Research, Inc. Growing consumption of personal care and household products in various countries, including China, India, the U.S., Germany, Saudi Arabia, UAE and Brazil, is expected to augment demand for aerosols. Increasing consumption of spray paints in construction and the automobile industries will also drive demand over the forecast period. The global aerosol market demand was 15.48 billion units in 2015 and is expected to reach 21.66 billion units by 2024, growing at a compound annual growth rate (CAGR) of 3.8% from 2016 to 2024. According to another report, Global Aerosol Market Size, Share, Development, Growth & Demand Forecast to 2022: Industry Insights by Application (Household, Automotive Industry, Paints and Varnishes, Food & Beverages, Personal Care, Insecticides & Others) by P&S Market Research, the global aerosol market was valued at $49.5538 billion in 2015 and it is expected to grow at a CAGR of 6.9% during 2016–2022. The major factors driving the growth of the global aerosol market include increase in key end user industries, rapid industrialization in developing economies and increasing health awareness, along with increased concern regarding personal care and hygiene. Moreover, the demand for ecofriendly aerosol products and increasing emphasis on recycling are further boosting the growth of the aerosol market. 14 Spray September 2016 Aerosols have widespread application in key industrial sectors, including food and beverages, paints and varnishes, automotive, pharmaceutical, personal care and household applications. Globally, these sectors have witnessed significant growth, which is further propelling the demand for aerosols. New product launches, including Unilever’s deodorant aerosols made using a lesser amount of raw material and energy, will boost market growth, opined Grand View Research. The personal care and household application segments are the major sectors generating demand for aerosols in the global market, added P&S. Automotive and Pharmaceutical industries are the further emerging application segments in the global aerosol market. Household was one of the larger application segments, accounting for over 30% of global volume in 2015 and will witness substantial growth on account of increasing consumption of air fresheners and insect repellents. Food is anticipated to witness tremendous gains at a CAGR of 4.5% from 2016 to 2024 in terms of revenue, on account of the development of the food and beverage sector in China, India, Brazil and Saudi Arabia. Therefore, innovations in aerosol food packaging, due to its convenience and waste reduction, will increase product demand over the forecast period, said Grand View Research. P&S Market Research believes that, owing to increasing incomes and living standards globally, food habits of the individual have changed and consumers are spending more on food and beverages. The increasing food and beverage industry in various countries, such as China, India, UAE and the U.S. is anticipated to fuel the demand for aerosols in near future. Geographically speaking… Geographically, Europe held the largest share in the global aerosol market in 2015, said P&S. The major reason was the growing demand for eco-friendly products in the personal care and U.S. aerosol statistics appear in SPRAY’s June 2016 issue. Reports concerning international aerosol statistics appear individually within issues throughout the calendar year.


Spray September 2016
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