Aerosol Market Size, Share, Growth Analysis, By Propellant type(Liquefied gas propellants and Compressed gas propellants), By Valve type(Mechanical actuators and Non-mechanical actuators), By Application(Automotive, paints and coatings), By Can Type(Steel, Aluminum) - Industry Forecast 2024-2031

Aerosol Market size was valued at USD 82.04 billion in 2022 and is poised to grow from USD 87.62 billion in 2023 to USD 148.31 billion by 2031, at a CAGR of 6.8% during the forecast period (2024-2031).

aerosol market is highly competitive with the presence of local as well as companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of aerosol market. 'Procter & Gamble', 'Unilever', 'Reckitt Benckiser', 'Henkel AG & Co. KGaA', 'SC Johnson & Son', 'L'Oreal SA', 'The Clorox Company', 'S. C. Johnson & Son', 'Thymes, LLC', 'The Sherwin-Williams Company', 'Honeywell International Inc.', 'Akzo Nobel N.V.', 'Rust-Oleum Corporation', 'The Sherwin-Williams Company', 'Ball Corporation', 'Crown Holdings Inc.', 'Nippon Paint Holdings Co. Ltd.', 'Kansai Paint Co. Ltd.', '3M Company', 'The Valspar Corporation', 'In March 2024, Starbar® Products introduced the Aviator™ Fly Bait Aerosol to the market. ', 'In January 2024, Recipharm, a contract development and manufacturing organization (CDMO), entered into an exclusive license and collaboration agreement with Medspray and Resyca. The collaboration aims to develop soft mist nasal delivery devices for single and combination drug products. ', 'In July 2023, Viatris Inc. (NASDAQ: VTRS), a healthcare company, in partnership with Kindeva Drug Delivery L.P., announced the release of Breyna™ (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol. This marks the first generic version of AstraZeneca's Symbicort® to receive approval from the U.S. Food and Drug Administration (FDA) under an Abbreviated New Drug Application (ANDA). Breyna, a drug-device combination product, is intended for certain patients with asthma or chronic obstructive pulmonary disease (COPD). It will be available immediately in both 80 mcg/4.5 mcg and 160 mcg/4.5 mcg dosage strengths. '

Packaging is a key component in the daily life of most consumers as it helps in the purchasing decision of consumers. Many consumer packaged goods (CPG) companies are adopting sustainable aerosol-based packaging for reuse and recycling. According to a study, aerosol cans for personal care products are 100% infinitely recyclable. So, some major personal care product manufacturers, including Procter & Gamble, Unilever, and L’Oreal, are repurposing and recycling aerosol-based glass, metal, or plastic containers to improve durability and reduce costs. Aerosol packaging provides an airtight solution, reducing the risk of breakage, leakage, and spillage. The CPG industry is creating opportunities in the aerosol market by offering several sustainable and cost-effective benefits. Also, pharmaceutical aerosols are widely used in the treatment of obstructive airway diseases such as asthma, chronic obstructive pulmonary disease, and tuberculosis. Aerosols are also used in dentistry for dental drills and air tooth polishing. Additionally, the increasing incidence of asthma and oral diseases is increasing the demand for compressed aerosol propellants.

The key trend in the aerosol market is the shift in consumer preference for organic or herbal aerosol cosmetic and personal care products. Aerosols are popular in personal care products such as cosmetics setting sprays and shave sprays. These products contain high amounts of chemicals that can potentially injure the skin and cause skin problems such as rashes, acne, and pimples. This has led consumers to look for products made from herbal and natural flower extracts along with essential oils, which provide the medicinal potential to treat skin related problems and improve natural beauty.

On the basis of region, aerosol market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. Asia-Pacific dominated the market. An increase in demand for deodorants and hair care products drives the market growth. Due to changing lifestyles, focus on gender-specific products, and increased consumer spending, the market for personal care products has grown strongly in developing countries. Demand for pharmaceutical products from consumers is increasing, which is driving revenue growth in this sector. Due to rising incomes and changing consumer preferences, the market for consumer household goods in Asia is changing, increasing the demand for products made from aerosol cans. Asthma, chronic obstructive pulmonary disease, and other obstructive airway diseases are just a few of the obstructive airway diseases that are becoming common, which significantly impacts the rapid use of compressed aerosol propellants.