The Indian aerosol market reached a revenue of $526.28 million in 2019 and it is predicted to progress at a CAGR of 6.0% between 2020 and 2030. Furthermore, the market will attain a valuation of $891.13 million by 2030. The market is being driven by the burgeoning requirement for aerosols in the manufacturing and automotive industries and the increasing enactment of favorable government initiatives regarding research and development (R&D) activities in the manufacturing industry.
Besides the aforementioned factor, the expansion of the manufacturing industry is also positively impacting the demand for aerosols in the country. As per the IBEF, the Indian manufacturing industry is exhibiting rapid expansion, because of the burgeoning requirement for consumer electronic appliances, machinery, and electrical equipment. Moreover, as per the Ministry of Commerce and Industry, the cosmetic and beauty products sector in India will demonstrate significant growth between 2016 and 2021, because of the surging per capita income of people.
Depending on application, the Indian aerosol market is divided into residential, industrial, spray paints, and personal cate categories. Out of these, the personal care category is predicted to demonstrate the fastest growth in the market in the coming years. This will be because of the ballooning sales of aerosol-based personal care products such as dry shampoos, hair sprays, shaving creams, mousse foundations, and deodorants, on account of the increasing disposable income of people in the country.
The personal care category is further sub-divided into hair sprays, deodorants/antiperspirants, shaving mousse and gels, and hair mousse. Out of these, the deodorants/antiperspirants division held the highest share in the market in 2019. This was due to the large-scale urbanization and the emergence of various online retail channels, wherein, a diverse range of innovative products such as herbal perfumes and pocket perfumes, are available. Additionally, the increasing disposable income of people is massively propelling the advancement of the deodorants/antiperspirants category.
Hence, it can be said with full confidence that the market will demonstrate huge expansion in the coming years, primarily because of the growing requirement for aerosol in the manufacturing and automotive industries in the country.
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