PUBLISHER: Grand View Research | PRODUCT CODE: 1511896
PUBLISHER: Grand View Research | PRODUCT CODE: 1511896
The global aerosol market size is expected to reach USD 131.93 billion by 2030, expanding at a CAGR of 6.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Aerosol has applications in personal care, household products, automotive, paints & varnishes, industrial, pharmaceutical, and food industries such as hair sprays, shaving gels, deodorants insecticides, air fresheners, grease, fabric cleaner, whipping cream, and inhaler.
The factors attributed to drive the market are introduction of new product formats and gender-specific products is expected to drive the demand for personal care products. The growing use of aerosol propellants in hair styling sprays, foaming face wash, shaving gel, deodorants & antiperspirants is expected to further drive the market.
Food is another segment that is expected to drive aerosol demand significantly over the forecast period. The rising use of aerosols in a variety of food products including whipping cream, icing and coffee powder, and chocolate is expected to fuel market expansion over the forecast period. The aerosols enhance the shelf life by keeping the food products 100% intact by creating a barrier between the external environment and food product and. Thus, the demand of aerosol packaging in food industry is increasing.
Further, the increased prevalence of respiratory disorders such as asthma in low- and middle-income countries followed by rising geriatric population and rate of environmental pollution have increased the prevalence of chronic obstructive pulmonary disease (COPD). Thus, the rising of respiratory disorder is expected to increase the importance of aerosol in MDI valves, DPI devices, and check valves in the near future.
However, stringent regulations is impacting the market of aerosol. For instance, the U.S. EPA has been regulating HFCs and other ozone-deteriorating chemicals under the Significant New Alternative Policy (SNAP) program for the past 20 years. The EPA also lists the substitutes for Ozone-Depleting Substances (ODS) in aerosol solvents and propellants, which are reviewed based on ozone depletion potential, global warming potential, toxicity, flammability, and exposure potential. Thus, stringent regulatory is creating high entry barriers for new Aerosol players entering into the market.