Aerosol cans market is projected to grow at a CAGR of 3.68% during the forecast period to reach a total market size of US$85.840 billion in 2024 from US$69.087 billion in 2018. There are many benefits associated with aerosol cans ranging from resource efficiency and cost-effectiveness to the safety of the product. The presence of established retailers today require FMGC companies to innovate the packaging solutions to attract more consumer within their limited available shelf space and is one of the major drivers of the global aerosol can market. Growing disposable income is expected to be one fo the prime factor driving the growth of the global aerosol cans market as people have started prioritizing convenience and sealed packaging. Besides due to changing lifestyles and growing living standards in various parts of the world people are rapidly adopting appealing packaging solutions which also propels growth opportunities in the coming years. Also owing to its lightweight feature, the adoption of aerosol cans is increasing in industries that require less flexible packaging and transportation of liquid or fluid materials and thereby augmenting its market growth.
The adoption of Modern retail format is expected to be the primary driver for its growing popularity.
The retail sector is transforming especially in developing countries like India, Brazil, China, and Indonesia. Rising disposable income, changing lifestyles, rapid urbanization and hectic work life are driving the demand for convenience and fast shopping solutions. A favorable trend of online shopping retail and modern retail outlets like hyper marts and supermarkets further drives the market for aerosol cans over the forecast period. Players in the retail industry are experimenting with new retail formats to provide convenience to its consumers and these modern retail outlets are driving the FMCG companies to improve upon the packaging of the product to appeal to the customer within the limited shelf space available in the outlets.
Growing environmental concerns.
Growing global warming and increasing awareness about environmental sustainability are expected to hinder the growth of aerosol cans market during the forecast period. Aerosol cans affect global warming because they contain chemicals that are harmful to the environment, due to which there are also strict government regulations in many countries which further hinder the growth of the aerosol cans market. For instance, EPA (Environment Protection Agency) in the United States has various policies related to puncturing, venting, crushing, and shredding of aerosol cans. The strict government regulation hampers the growth of the aerosol cans market. Strict environmental regulations will thus, further restrain the growth of aerosol cans market in the coming years. Furthermore, extreme temperatures can also cause cans to break or rust (in case of moisture) resulting in the release of content with the potential to harm ai, water and land.
Aluminum is widely used as a material for the production of aerosol cans.
Aluminum has excellent properties such as lightweight and easy to carry makes it most popular among customers as with rising standards of living people are prioritizing convenience over the cost. Besides, FMCG companies are highly adopting aluminum aerosol cans as they extend the shelf life of the product and are also a safe way to dispense a wide variety of products. Furthermore, recyclable properties of the aluminum aerosol are expected to be one of the prime drivers which are augmenting the market growth opportunities during the forecast period as consumers are now raising more concerns about the sustainable environment.
The interest of aerosol cans technology in personal care and products is growing rapidly.
Growing geriatric population is expected to be the prime driver of aerosol cans market within personal care and products as aged people especially women tend to demand anti-aging products to look much youthful. In fact, according to the World Bank, the population ages 65 and above as a percent of the total population in Japan has increased from 17.50% in 2001 to 27.57% in 2018. Also increase in demand for products such as shampoos, conditioners, and deodorants, hair color sprays among others due to growing awareness regarding personal hygiene coupled with increasing disposable income and standard of living is expected to further fuel the demand for aerosol cans among FMCG and other products manufactures in the coming years.
Asia Pacific is projected to hold a significant share in the market.
This region is expected to hold a significant market share and is anticipated to grow rapidly over the projected period owing to the established manufacturing sector and a huge consumer base present in the region. Countries like China and India in the region are considered as one of the biggest manufacturing hubs in the world and are expected to grow significantly over the next five years which is further anticipated to widen up the growth opportunities for aerosol cans form of packaging during the forecast period. In addition, China is the most populated country in the world and with the increasing geriatric population in the country, there is increasing investment in the pharmaceutical industry which is expected to propel the market growth opportunities for manufacturers and vendors in the coming years. Furthermore, due to rising household expenditure, there is an increasing demand for consumer goods which attracts market players to invest in the region in order to cater to the growing consumer base which is further expected to propel the market during the forecast period. For instance, according to the Organisation for Economic Co-operation and Development, household spending in China has increased from USD 2,666,514 million in 2005 to USD 8,957,340 million in 2015.
Major players in the aerosol cans market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the aerosol cans market.
Aerosol Cans Market has been segmented into following categories: