ESOMAR-certified consulting firm, Future Market Insights, in a study projects the global aerosol packaging market to exhibit growth at a positive pace through 2021. According to the report, the market is expected to surpass nearly US$ 6.72 Bn in 2021.
Rising demand for incorporating sustainable packaging solutions is primarily underpinning expansion prospects. Furthermore, FMI projects the market to rise at a CAGR of nearly 4.8% between 2021 and 2031.
Rising demand from the personal care & cosmetics industry has prompted the manufacturers to offer sustainable packaging solutions. Hence, increasing investment and rising research & development activities for green solutions are driving the sales of aerosol packaging.
Manufacturers are increasing the production of aluminum & plastic aerosol packaging as it is lightweight, has a lesser carbon footprint and is recyclable to facilitate the growing demand from personal care industry. Also, focus on innovation in terms of sustainability are expected to widen the growth opportunities for the market players over the coming years.
Also, increased application of aerosol packaging within food & beverage and pharmaceutical sector is expected to bolster the market growth. Furthermore, expansion of food & beverage and pharmaceutical industry is expected to provide substantial growth in the upcoming decade. Launch of innovative and sustainable designs for the production of relief sprays, air sprays and others will continue to drive the demand.
"Leading players are focusing on recyclability option and aesthetic look of the aerosol packaging to woo the end users and customers while adhering to stringent government regulations for sustainable solutions" says the FMI analyst
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In terms of product, cans and bottle & cylinders segment collectively holds over 4/5th of the global market share
Aluminum material is highly sought after and the segment is expected to emerge as the most lucrative segment in the upcoming decade
Based on cap type, actuators are expected to account for over 35% of market share
Personal care & cosmetics is the primary end-user for the aerosol packaging market and will expand by 1.46 times to the current market
Increased application in personal care & cosmetics across the U.S. is expected to bolster the market demand
India is expected to be one of the most lucrative market backed by the burgeoning demand from personal care industry
China is anticipated to be the open field of growth opportunities for manufacturers due to the less competition in the region
U.K. will spearhead the growth in Europe's aerosol packaging market and is estimated to account for over 25% of market share
Product customization and new launches remains the key strategy for the leading players to maintain their position in the industry.
In April 2021, Crown Holdings Inc. announced a strategic collaboration by entering in a definitive agreement with KPS Capital Partners, LP in order to sell its European Tinplate business that comprises of 44 manufacturing facilities in 17 countries of Europe, Middle East & Africa which produces aerosol cans and metal closures. Through this aims to expand their customer base and strengthen their footprints globally.
In March 2021, Trivium Packaging announced the expansion of its recycling and reuse of aluminum from aerosol cans in Latin America through the Creando Concienca Partnership. This initiative in Argentina aims to raise awareness and accelerate sustainability practices for customers for an eco-friendly environment.
In September 2019, Ball Corporation, the world's leading aluminum beverage and aerosol packaging supplier announced a product launch at the Aerosol Dispensing Forum (ADF) & Packaging of Perfume, Cosmetics & Design (PCD) with portfolio of innovative aluminum aerosol can shaping and printing solutions.
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Some of the prominent aerosol packaging companies profiled by FMI are:·
Berry Global, Inc.
Crown Holdings, Inc.
CCL Industries Inc.
Aptar Group Inc.
Silgan Holdings Inc.
Montebello Packaging Inc.
Graham Packaging Company
More Insights on the Global Aerosol Packaging Market
In its latest report, Future Market Insights provides a detailed segmentation on the global aerosol packaging market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the aerosol packaging market with a detailed segmentation on the basis of:
Bottles & Cylinders
Tin Plated Steel
Fine Mist Sprayer
Other Dispensing Caps
Personal Care & Cosmetics
Food and Beverages
Non-dairy Whipping Creams
Milk Taste Modifiers
Cocktail Foam Toppings
Others (Coconut Whipped Topping, etc.)
Others (Pharmaceuticals, etc.)
Middle East and Africa (MEA)
Key Questions Covered in the Report
How will demand for aerosol packaging will evolve in future?
Which is the most lucrative region of global aerosol packaging market?
What are the key trends and factors affecting the market demand?
What are the strategies adopted by key players operating in aerosol packaging market?
What are the key challenges faced by prominent players in the aerosol packaging market?
Which is the top selling segment of global aerosol packaging market?
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Name: Abhishek Budholiya
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Organization: Future Market Insights
Release ID: 89032681