The Indian aerosol market reached a valuation of $526.28 million in 2019 and is predicted to generate a revenue of $891.13 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 6.0% between 2020 and 2030. One of the major factors driving the progress of the market is the growing requirement for aerosols in the manufacturing and automotive industries.
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This represented an increment of 6.3% from the sales of automobiles recorded in the previous year (29,094,447 vehicles). Similarly, as per the India Brand Equity Foundation (IBEF), because of the surge in the income of the middle-class populace and the population of young people, the sales of automobiles are predicted to rise enormously in the coming years. This will, in turn, push up the demand for aerosols in the country in the coming years.
The boom in the Indian manufacturing industry is also positively impacting the growth of the Indian aerosol market. As per the IBEF, the manufacturing industry in the country is exhibiting rapid advancement, because of the burgeoning customer demand for various consumer electronic products, machinery, and electrical equipment. Moreover, as per the Ministry of Commerce and Industry, the increasing per capita income of people will fuel the expansion of the Indian cosmetics and beauty products sector in the coming years.
The Indian aerosol market registered the highest growth in the northern part of the country in the past years and this trend is likely to continue in the future years as well. This will be a result of the increasing preference of customers for various personal hygiene products such as antiperspirants/deodorants in this region. Additionally, the growing requirement for home care and aerosol-based car care products will propel the market advancement in this region in the coming years.
Hence, it is safe to say that the market will grow explosively in the forthcoming years, primarily because of the rising requirement for aerosol-based products in the manufacturing and automotive industries and the surging sales of personal hygiene products in the country.
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