Aerosol Cans Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Aerosol Cans Market is anticipated display a CAGR of around ~3% over the forecast period (2021-2027). Consumer preferences are changing, which has an impact on the overall market situation. Their preference for environmentally friendly packaging is driving demand for recyclable and reusable aerosol cans. Steel, glass, and polymers are used to make these cans, which are indefinitely recyclable. The major players are working to make their production methods more environmentally friendly. The popularity of this type of packaging has grown because to its improved simplicity of use, accurate product application, and extended shelf life. Aerosol cans have found new usage in food distribution and other specialized applications thanks to innovative spray processes. The introduction of compressed aluminum aerosol canisters, which use roughly 50% less propellants and 30% fewer raw materials, is also helping the business thrive. The availability of lightweight goods, the recyclability of bottles, and the utilization of recycled materials are all expected to drive market development in the future years.

Insights Presented in the Report

“Amongst Material, Aluminum segment dominated the market in 2020”

Based on material, the market is segmented into Aluminum, Steel and Plastic. The Aluminum segment is expected to grow at a higher CAGR during the forecasted period. Because of its vast variety of characteristics, aluminum is one of the most used materials for packaging. It’s light, shatterproof, impervious to water, flexible, corrosion-resistant, and recyclable. Aluminum aerosol cans keep the contents fresh for a long period by preventing high volatile ingredients from escaping. Aluminum has a considerable market share in the worldwide aerosol can market due to these considerations. The increased awareness of ecologically friendly packaging choices is another element boosting demand for aluminum aerosol cans in the industry. Because recycling metal is more energy efficient than generating new aluminum, the method of recycling aluminum will be utilized to manufacture aerosol cans.

“Amongst Type, Liquefied Gas Propellants segment dominated the market in 2020.”

Based on type, the market is segmented Liquefied Gas Propellants and Compressed Gas Propellants. The Liquefied Gas Propellants segment is expected to grow at a higher CAGR during the forecasted period. Even when the product level declines, additional liquefied gas propellant evaporates to maintain a constant pressure in the space above the product in the case of liquid gas propellant. This helps to keep the spray’s performance over the life of the aerosol can. This is attributable to the liquefied gas propellant’s significant market share.

“Amongst End User, Personal Care segment dominated the market in 2020.”

Based on End User, the market is segmented Personal Care, Healthcare, Household, Automotive and Others. The Personal Care segment is expected to grow at a higher CAGR during the forecasted period. Aerosol cans are used to package a variety of items in the personal care end-use industry, including deodorants, face and body lotions, shaving foams, and fragrances. People in emerging nations have higher disposable income, which allows them to spend more on personal care items, which helps the aerosol cans industry flourish. Skincare and toiletries remain the most important product categories in Europe, followed by hair care and fragrances.

“Europe represents as the largest market.”

For a better understanding of the market adoption of Aerosol Cans, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. Europe is expected to grow at a higher CAGR. Europe, which includes mature economies like Germany and the United Kingdom, is expected to grow at a steady pace throughout the projection period. Aerosol cans are predicted to gain in popularity in Europe as a result of a focus on decreasing packaging waste. Additionally, cost-effectiveness and lowering wastage by extending the product’s shelf life increase the market. Countries such as Spain and Paris have adopted the aerosol packing type as a way to adapt to shifting fashion trends. The steady expansion in the manufacturing of hair mousses, deodorants/antiperspirants, and shaving gels is largely responsible for the personal care segment’s consistent growth. This has been steadily increasing over time. Some of the major players operating in the market includes Crown Holdings, Inc., Aero-pack Industries, Inc, Trivium Packaging, Midas Care Pharmaceuticals Pvt. Ltd, Aerobal, Toyo Seikan Co. Ltd., CCL Container, ITW Sexton, Ball Corporation, Mauser Packaging Solutions etc.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

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Research Methodology

The personal and home care business has a considerable influence on the worldwide aerosol market. Due to increased usage of items such as air fresheners and deodorants, the business is fast expanding. The market for aerosol cans is likely to be spurred ahead by the rise of the air freshener and deodorant sectors, since these segments are the primary end users of aerosol cans. End-use sectors such as cosmetics and personal care, food and drinks, and healthcare are increasing their need for aerosol cans. Increased demand for personal care products such as deodorants, hair sprays, and face & body creams will increase the consumption of aerosol cans due to factors such as rising disposable income, changing consumer lifestyles, product presentation & differentiation, and rising demand for personal care products such as deodorants, hair sprays, and face & body creams. Aerosol can demand will be boosted by the retail business, which is now transitioning from disorganized to organized retail.

The market for aerosol cans is being driven by customers’ growing spending power. Consumers’ growing knowledge of the importance of cleanliness is propelling the industry forward. Rising urbanization, growing population, and increasing disposable income have encouraged people to switch to aerosol alternatives. Because of the fast industrialization and expansion of the personal care business, the expanding economies of China and India are boosting the market for aerosol cans. The increasing personal care business in Asia Pacific is expected to drive demand even higher. The entire market, particularly for aluminum aerosol cans, will be driven by the spread of the aerosol format into new end-use categories and growing demand for wide end-use segments such as deodorants and other personal care items.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Aerosol Cans Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Aerosol Cans, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by material, type, end user. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Aerosol Cans Market in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing government incentives and demand for eco-friendly transportations etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Aerosol Cans across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Aerosol Cans Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Aerosol Cans market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of service type, vehicle type, and region.

The main objective of the Aerosol Cans Market Study

The current & future market trends of Aerosol Cans were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Aerosol Cans in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include type, application, and vehicle
• Defined analysis of the regulatory framework for the Global Aerosol Cans industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Aerosol Cans for the major regions & countries
• Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Aerosol Cans Market players and the growth strategies adopted by them to sustain in the fast-growing market

Deep dive regional & country level analysis of the industry