Aerosol cans market to reach $13.6bn by 2028
The report “Aerosol Cans Market by Material (Aluminium, Plastic), Product Type (1-piece cans, 3-piece cans), Type (Liquefied Gas, Compressed Gas), End-use Sector (Personal care, Healthcare, Household care), & Region-Global Forecast to 2028″, size is estimated to be $11.2 billion in 2023, and it is projected to reach $13.6 billion by 2028 at a CAGR of 4.0%.
Rising population, improving living standards, and rising urbanisation led to an increase in demand from end-use sectors such as personal care, household care, healthcare, automotive, and others, which drives the market of Aerosol Cans during the forecast period.
Apart from this, technological advancements and increasing awareness towards sustainability also help in driving the market of Aerosol Cans during the forecast period. The availability of alternatives in terms of packaging and price is becoming the main restraining factor in this market.
However, growing opportunities in emerging economies and the development of eco-friendly packaging provide lucrative opportunities for aerosol cans producers. Stringent government regulations are the major challenge of this market.
By Material, Aluminium accounted for the largest share in 2022
The aluminium material segment held the largest market share in the global aerosol cans market throughout the forecast period. Aluminium is a highly favoured material for packaging due to its extensive array of advantageous properties.
It boasts attributes such as being lightweight, shatterproof, impermeable, flexible, corrosion-resistant, and recyclable. Aluminium aerosol cans effectively contain volatile components within the contents and maintain the product’s integrity over an extended period, contributing significantly to its substantial market dominance in the global aerosol cans industry.
By Type, Liquefied Gas Propellant accounted for the largest share in 2022
The segment of liquefied gas propellant type held the dominant position in the global aerosol cans market for the duration of the forecast period. With liquefied gas propellants, the advantage lies in their ability to ensure a consistent pressure remains in the space above the product, even as the product level decreases.
This unique feature contributes significantly to sustaining the spray’s performance throughout the entire lifespan of the aerosol can, thereby underpinning the substantial market share of liquefied gas propellants.
By Product Type, 1-piece aerosol cans accounted for the largest share in 2022
Within the global aerosol cans market, the 1-piece aerosol cans product type segment secured the largest market share throughout the forecast period. This segment is experiencing an upward trajectory in its growth due to the array of benefits it provides.
These advantages encompass leak-proof, airtight, and lightweight properties, the capacity to withstand elevated pressures, resistance to corrosion and heat, as well as the seamless and unbreakable nature of the cans.
By End-use Sector, Personal Care accounted for the largest share in 2022.
During the forecast period, the personal care end-use sector segment took the lead in the global aerosol cans market. Within the personal care end-use sector, aerosol cans play a crucial role in packaging various products, including deodorants, facial and body creams, shaving foams, and perfumes.
The growing disposable income in emerging economies has led to increased spending on personal care products, which, in turn, has fuelled the growth of the aerosol cans market.
Asia Pacific is the fastest-growing market for the Aerosol Cans market
Asia Pacific is the fastest-growing market during the forecast period. The robust growth of the aerosol cans market in the APAC region can be attributed to multiple factors, including the rising disposable income levels in developing economies like China and India.
Key drivers encompass industrialisation, the expansion of the convenience food industry, increased manufacturing activities, elevated disposable incomes, heightened consumption levels, and a surge in retail sales. Furthermore, heightened spending on packaged foods and beauty care products has contributed to the escalating demand for aerosol cans within the region.
The Aerosol Cans chemicals market comprises major players such Ball Corporation (US), Trivium Packaging (Netherlands), Crown (US), Mauser Packaging Solutions (US), Toyo Seikan Co. Ltd. (Japan), Nampak Ltd. (South Africa), CCL Container (US), Colep Packaging (Portugal), CPMC Holdings Ltd. (China), and Guangdong Sihai Iron-Printing and Tin-Making Co., Ltd.(China). Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Aerosol Cans market.