A new study published by market research syndicate Grand View Research, Inc. predicts growth in the global aerosol market over the next five years, led primarily by growing demand for aerosol packaging for personal care and household products.
The study estimates that global aerosol demand reached 14.61 billion units in 2013, and expects that figure to rise at a CAGR of 3.1% through 2020, at which point it will reach 18 billion units.
Aerosol applications for household products are expected to see the fastest per capita growth of any segment, with a CAGR of 3.5% through 2020. Regionally, Grand View predicts “Asia Pacific” to grow at a CAGR of 4.1% during the time period due to relaxed regulations and increasing demand for aerosols in the cosmetics industry.
The report lists large global manufacturers, such as Procter & Gamble, SC Johnson, Henkel and Reckitt Benckiser, as key participants who will drive innovation that focuses on reducing raw materials usage and increasing recyclability.