The global aerosol market size is anticipated to reach USD 97.98 billion by 2025
NEW YORK, Aug. 6, 2019 /PRNewswire/ --
Aerosol Market Size, Share & Trends Analysis Report By Application (Personal Care, Household, Automotive & Industrial, Foods, Paints), By Region, And Segment Forecasts, 2019 - 2025
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The global aerosol market size is anticipated to reach USD 97.98 billion by 2025 It is projected to register a CAGR of 5.49% during the forecast period. Rising demand for aerosol products from various end-use industries such as personal care, household, automotive and industrial, and medical is anticipated to drive the growth.
Increasing demand for packaging in household and food and beverage industries is expected to propel the growth of the market for aerosol. In addition, high demand for inhalers, pain relief and bandage spray is also expected to drive the growth over the forecast period.
Asia Pacific is among the significant regional markets.Rising demand for personal care products from developing countries is anticipated to propel the demand for aerosol.
In addition, increasing awareness regarding cleanliness and hygiene is boosting the growth of household products like cleaners, sanitizing agents, and air fresheners.
Growing demand from Asia Pacific is encouraging aerosol manufacturers to increase their production.For example, in February 2019, Vanesa Care announced plans to setup its fourth manufacturing facility in India.
This facility would be the company's fourth plant.
The aerosol market is highly competitive with numerous players involved in acquisitions and expansions. In addition, they also conduct R&D for the emerging sectors such as household and personal care.
Further key findings from the report suggest:
• Personal care application is anticipated to register a CAGR of 5.0% over the forecast period, owing to growing demand for hair care products
• In terms of volume, household accounted for a market share of 31.2% in 2018, owing to increasing emphasis on cleanliness in developing countries
• In terms of revenue, Middle East and Africa is expected to register a CAGR of 7.5% over the forecast period
• In 2017, Unilever announced a joint venture with EAC Myanmar to expand its operations of personal care and household sectors
• Major players in aerosol market are adopting strategies like capacity expansion to cater to growing demand. For example, in December 2016, the Fareva Group inaugurated its new aerosol plant in Henrico, VA (U.S.).
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