According to the report “Aerosol Market: By Application (Automotive & Industrial, Paint, Household, Food, Personal care, Medical and Others); By Geography - Forecast (2016 - 2021)” published by IndustryARC, estimates the market to reach $88.56 Billion by 2021.
Browse 20 Market Tables, 110 Figures spread through 119 slides and an in-depth TOC on “Global Aerosol Market (2016 - 2021)”
Aerosols are suspensions of minute solid particles or liquid droplets dispersed in a gaseous medium. They find their use in Commercial, Household, Food and Beverages and Personal care segments to name a few. However, Aerosols are majorly used in household and personal care segments. Aerosols have been used since the past 100 years and numerous environmental bans have been imposed on the production of aerosols in certain countries. As per a recent report from IndustryARC, the global aerosols market was $75.45 billion as of 2016, and is estimated to grow at a CAGR of 3.16% till 2021.
The introduction of aerosols in household products like sprays, bug repellents and others has had a positive impact on the market. There are incentives being granted to the new entrants in the aerosol industry, which increases the threat to established players. Also the market is already dominated by established players having dedicated customers. As there are no viable substitutes for the aerosol products, there is no threat of substitutes until the forecast period. Currently, Personal care segment has the maximum demand for aerosols. It held the maximum share in the overall Aerosols market which accounted for revenue of $38.41 Billion in 2016.
Though Aerosols have had a major impact on the lifestyles of the masses, it is challenging for the companies to substitute the existing products with aerosol based products. With increased awareness about the environment, the acceptance of aerosols in everyday lives is a hurdle which needs to be overcome by the players. The strict ban on CFCs is also believed to restrict the market from growing further.
The Prominent Players in this Market Include
- SC Johnson & Son, Inc.
- Reckitt Benckiser Group PLC
- The Proctor&Gamble Company
- Henkel AG & Co.
There are huge growth prospects in the APAC region for the aerosol industry. The increased use of personal care products, better lifestyle and the potential to be a manufacturing hub for the world have propelled this region to be the fastest growing market for the industry. Europe still remains the largest market for the aerosol industry, with 45% of the global earnings being generated from the continent alone.
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