Market Trends of Australia and New Zealand Aerosol Industry
This section covers the major market trends shaping the Australia & New Zealand Aerosol Market according to our research experts:
Increasing Awareness Regarding Hygiene and Personal Care to Drive Market
- Availability, cleanliness, and sustainability are three key factors consumers look for in beauty products. Both men and women want safe and effective products. Looking to the future, bag-on-valve aerosol cosmetics provide consistent and controlled spray results on sensitive areas, such as acne products for face and body fragrance.
- In Australia, revenue in the personal care industry has been growing slowly. In 2021, the industry generated a revenue of USD 3,391 million and was further expected to increase over the next four years. Out of the personal care sector, personal hygiene products are most in demand.
- Currently, the revenue in the personal care segment in New Zealand is over USD 386.5 million. Moreover, in the personal care segment, the number of users is expected to amount to 1 million by 2025, supporting the consumption of aerosol cans in New Zealand.
- The increasing awareness about personal care has boosted the demand for cosmetics, such as deodorants, antiperspirants, cream foundations, hydrating creams, sun protection creams, tanning lotions, hair sprays, styling sprays, hair shines, and others, which is expected to further drive the market.
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Australia Expected to Lead the Market Growth
- Australia's GDP grew by 3.4% during Q4 2021 compared to September 2021, primarily attributed to the easing of COVID-19-related restrictions and the growth in private consumption. Furthermore, according to the Australian Bureau of Statistics, households continued to save more and, thus, surpassed the pre-pandemic saving rates.
- Every year, over 16 billion aerosol products are created worldwide, demonstrating their popularity, ease, and value for money. Every year, Australia purchases over 285 million aerosols, or nearly 11.5 for every man, woman, and child.
- Across Oceania, Australia is the leading producer of commercial vehicles. According to International Trade Administration, in 2021, the local market sold 1,049,831 new passenger cars, SUVs, and commercial vehicles (up from 916,968 in 2020).
- The aerosol across automotive can experience its major presence in the aftermarket. The Australian aftermarket for replacement parts and accessories is estimated to be worth approximately USD 9.2 billion, with local manufacturers and imports of aftermarket parts split reasonably evenly. The Australian Automotive Aftermarket Association (AAAA) estimates that Australia's annual exports of aftermarket parts total USD 1.85 billion.
- Apart from automotive, the usage of paints and coatings, largely across the construction industry, has boosted the growth opportunity for aerosols. According to ITA (International Trade Agency), the construction sector in Australia is worth around USD 112 billion per year.
- Moreover, in the country's Federal Budget in May 2021, the Australian government pledged an additional amount of around USD 11.3 billion for infrastructure projects. This includes additional money to help early-stage investment initiatives move forward.
- Also, personal care and cosmetics are among the country's largest aerosol consumers. The growing consumption of skin care products, fragrance and body sprays, hair and styling sprays, shaving gels and foams, and other products have increased the demand for aerosols in the country.
- All the factors mentioned above are likely to boost the demand for the market studied across Australia in the coming years.
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