Aerosol Market Size, Share & Trends Analysis Report By Material (Steel, Aluminum), By Type (Bag-In-Valve, Standard), By Application (Personal Care, Household), By Region (EU, APAC), And Segment Forecasts, 2022 - 2030

Report Overview

The global aerosol market size was valued at USD 73.9 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. The growth is majorly driven by the increasing consumption of personal care products, such as deodorants, shaving creams, hair sprays, and body sprays. Aerosols are colloidal systems of solid or liquid particles suspended in a gas. They find a broad range of applications in personal care, household, automotive and industrial, food, paints, and medical sectors. The convenience of use and aesthetic design of aerosol has been attracting various end-use industries towards aerosol-based product packaging. Rapid urbanization coupled with infrastructural developments in emerging economies of Asia Pacific is expected to drive the demand for aerosol in paints and household products.

In addition, the introduction of the Environmental Protection Agency (EPA)-approved aerosol cleaning products is anticipated to boost the market growth. In terms of metal packaging, innovations in aerosol-based products for improving consumer convenience and environmental concerns have been witnessed. For example, compressed gases replace hydrocarbons as propellants, and the innovation of bi-compartmental technology separates the product from propellant by introducing a plastic inner bag. Such steps are expected to propel the growth of the market further.

Various food products, including oil, whipped cream, edible mousse, sprayable flavors, etc. are being increasingly offered in aerosol form owing to their convenience of use. Furthermore, the demand for whipped cream has been significantly growing over the past few years on account of the high demand for bakery products, such as pies, cupcakes, ice creams, sundaes, cakes, hot chocolate milkshakes, waffles, cheesecake, and puddings. This is anticipated to propel the growth of the global market in the years to come.

Material Insights

On the basis of materials, the global market has been segmented into steel, aluminum, and others. The aluminum material segment held the largest revenue share of 60.4% in 2021 and is also projected to expand at a considerable growth rate over the forecast period. Aluminum is an environmentally friendly material and can be recycled multiple times. In addition, it also offers robust packaging and significantly enhances the aesthetic appeal of the product. These factors are majorly contributing to the growth of the segment. Globally, aluminum prices are significantly increasing over the past several years.

Increasing aluminum prices are further leading to a rise in the final costs of aerosols. On account of this factor, aerosol manufacturers are expected to opt for a low-priced alternative, which may hamper the growth of the aluminum material segment in the coming years. The plastic material segment has also been experiencing significant demand for the past few years due to the low weight, low cost, and high recyclability of PET plastic. However, a strict ban on plastic packaging, especially in Europe, is expected to hamper the growth of this segment over the coming years.

Type Insights

The standard segment accounted for the maximum revenue share of 82.3% in 2021 and is projected to continue with its dominance throughout the forecast period. This segment includes continuous and metering type valves; continuous valves are used in applications where continuous spray is required. The increasing utilization of these valves in food products, technical products, and home care products, such as insecticides, rodenticides, and decoration products, is expected to drive the segment growth. Metered valves are specifically preferred for efficient dispensing of metered doses, thus used in pharmaceutical applications and air fresheners. Bag-in-valve is a packaging technology wherein the bag containing the product is welded to the valve.

The propellant is placed in between the bag and the can. Therefore, the propellant and the product are completely separated from each other, which improves the integrity of the packaged product. In a bag-in-valve aerosol, the product is dispensed mainly by the propellant by squeezing the bag after the pressing of the spray button. Cosmetic, medical, and food products are usually packaged in the aerosol with a bag-in-valve to maintain the purity of the product. The bag in the valve offers nearly 99.5% of product dispersion; the bag is usually made of four-layer laminates, which minimizes the possibility of oxidation, and the product is hermetically sealed with the bag. These advantages are attracting various product manufacturers towards the bag in the valve aerosol type segment. This, in turn, is expected to propel the segment growth in the coming years.

Application Insights

The personal care segment held the largest market share of more than 41.8%, in terms of volume, in 2021. The segment is driven by the growing demand for hair care products and deodorants. The demand for personal care products is increasing in emerging economies owing to the changing lifestyle, rising consumer spending, and emphasis on gender-specific products. The rapid growth of the household segment is attributed to the improvement in standards of living and emphasis on hygiene, especially in developing regions. This has led to a rise in the consumption of household products like air fresheners, cleaners, sanitizing agents, and disinfectants. Dispersion of these products in less quantity reduces wastage and increases their longevity.

This property further propels their usage. The automotive and industrial segment is also among the significant applications. Increasing consumer awareness regarding the appearance and maintenance of vehicles is propelling the demand for products like spray paints and automotive cleaning agents. In addition, increasing sales of vehicles are positively impacting the consumption of other products, such as adhesives and sealants, anti-fog agents, and lubricants. The growth of the medical segment can be credited to the increasing demand for dry powder respiratory inhalers and metered dose inhalers, especially in North America. The growing pollution has led to a rise in the number of asthma patients, which is anticipated to propel the demand for these inhalers over the forecast period.

Regional Insights

Europe held the largest market share of 33.1% in terms of volume in 2021. The region is also the leading producer of aerosols. Its large share is mainly attributable to the personal care industry. Factors including high cosmetics consumption, rapid growth in the fragrance industry, and increasing consumer spending are boosting the regional market growth. Despite the increasing demand from the personal care industry, the growth of the Europe market is hindered by the regulations regarding Volatile Organic Compounds (VOC) emissions, laid down by the European Commission and Environmental Protection Agency (EPA). However, the region is anticipated to overcome this challenge in the near future with innovations. For example, in 2017, a new line of aerosol cleaners was introduced by Breathe, certified by the EPA’s Safer Choice Program.

In terms of revenue, Asia Pacific is amongst the fastest-growing regions and is expected to register a CAGR of 8.0% over the forecast period. The governments of China and India have been focusing on promoting favorable investments, which is expected to create lucrative growth opportunities for the market over the forecast period. Increasing consumer spending in emerging Asian economies is boosting the demand for aerosol in the personal care, automotive, and paints sectors. The Middle East and Africa are also estimated to witness significant growth over the forecast period due to high spending on hair care products in countries such as Saudi Arabia and UAE. In addition, the presence of hypermarkets, such as Carrefour, and Lulu Hypermarket, in the UAE, Saudi Arabia, and Kuwait have ensured the retail distribution of consumer products.

Key Companies & Market Share Insights

Mergers and acquisitions and new capacity expansions are among the key strategies adopted by the major companies operating in this market. For instance, in May 2018, Spray Products Corp. acquired a new facility in Ohio, U.S. In another development, Lindal Group inaugurated its new state-of-the-art facility in Columbus, Indiana. Some of the key players in the global aerosol market include:

• Proctor & Gamble

• Reckitt Benckiser

• Unilever

• Honeywell International Inc.

• SC Johnson & Son Inc.

• Henkel 

Aerosol Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global aerosol market report on the basis of material, type, application, and region:

• Material Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

  • Steel

  • Aluminum

  • Others

• Type Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

  • Bag-In-Valve

  • Standard

• Application Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

  • Personal Care

    • Deodorants

    • Hair Mousse

    • Hair Spray

    • Shaving Mousse/Foam

    • Suncare

    • Others

  • Household

    • Insecticides

    • Plant Protection

    • Air Fresheners

    • Furniture & Wax Polishes

    • Disinfectants

    • Surface care

    • Others

  • Automotive & Industrial

    • Greases

    • Lubricants

    • Spray Oils

    • Cleaners

  • Food

    • Oils

    • Whipped Cream

    • Edible Mousse

    • Sprayable Flavours

  • Paints

    • Industrial

    • Consumer

  • Medical

    • Inhaler

    • Topical Application

  • Others

• Regional Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • Saudi Arabia