Market Research Of Global Aerosol Cans Market By Knowledge Sourcing Intelligence
Global Aerosol
Cans market is projected to witness the growth at a CAGR of 3.57% during
the forecast period to reach the total market size of US$82.050
billion in 2022 from US$66.491 billion in 2016. Rising disposable
income is one of the primary factors contributing to the growth of global
aerosol cans market as people have started prioritizing convenience,
lightweight and tightly sealed packaging over costly packaging. Moreover, with
changing lifestyles and rising living standards, people are rapidly adopting
more stylish and appealing packaging. Modernization in retail format
also impacts the growth of the global aerosol cans market positively. As
rising modern trade outlets are motivating the FMCG companies to improve upon
the packing of the product in order to appeal the customer with limited shelf
space. Furthermore, owing to its lightweight feature, the adoption of aerosol cans
is increasing in industries that require feasible packaging and transportation
of fluid material and thereby augmenting its market growth.
Geographically,
Europe accounts for the largest share in the year 2016 and is expected to
dominate the market in the coming years. However, Asia Pacific is expected
to witness an above average growth owing to its emerging economies such as
China & India, wherein the number of consumers along with their
purchasing power is increasing. Government initiatives such as FDI and free
trade agreements are attracting new players in this region while augmenting the
market growth for aerosol cans. For instance, Ball Corporation entered the
rapidly expanding Indian market with the opening of a new aluminum aerosol can
plant in Ahmedabad, India in order to meet the needs of both regional and
global customers. Market Research is done by
the knowledge sourcing industry due to the huge scope with the respective
industry.
Adoption of Modern retail format
The retail sector is going through a transformation especially in emerging economies
like China, India, Brazil, and South Korea. Factors such
as rising disposable incomes, changing lifestyle, hectic work life, and
expanding urbanization, drive the demand for convenient and fast shopping
solution. This further drives the trend of online shopping retailers and modern
trade outlets, especially supermarkets and hypermarkets. Both existing and
new players in the retail sector are experimenting with new retail formats in
order to provide convenience to their customers. Rising modern trade
trends are driving the FMCG companies to improve upon the packing of the
product in order to appeal to the customer within the limited shelf space
available in the outlets. This pressurizes companies to go for technology
advancement in the aerosol can industry which is fuelling the growth of
aerosol cans market worldwide.
Aerosol Cans Market Forecast by Type
of Material (us$ billion)
By type of
material, global aerosol can market has been segmented as aluminum,
steel, glass, and plastic. The aluminum aerosol cans market is estimated to
witness a high growth rate during the forecast period owing to
growing demand for lightweight packaging coupled with the increase in
disposable income. Moreover, growing need to minimize cost and maximize
efficiency owing to the competitive market has
led plastic to be one of the major raw materials used for
manufacturing aerosol cans as it is cheap, have good barrier
properties, pressure-resistant material, and has less energy-intensive
production. With continuous development and innovation, providers have come up
with a recyclable plastic aerosol can which, in turn, is expected to augment
plastic aerosol cans market growth in years ahead. However, with rising demand
for lightweight and convenience packaging, the demand for glass aerosol cans is
reducing. Although steel aerosol can hold a small share, its demand is
increasing in response to the growth of the pharmaceutical and deodorant
industry.
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| Sample view of global aerosol cans market share |
Aluminum Aerosol Cans
The aluminum
aerosol cans market is expected to grow at the fastest rate with CAGR of XXX%
during the forecast period. Excellent properties of aluminum such as
lightweight, portable, and easy to carry makes aluminum aerosol cans popular
among consumers as with rising living standards people are prioritizing
convenience over cost. Moreover, FMCG companies are highly adopting aluminum
aerosol cans as it extends the shelf life and is a safe way to dispense a wide
variety of products. Recyclability property of aluminum aerosols is one of the
major factors which are expected to augment the market growth in the coming years
because people are becoming more concern about the sustainable environment. The
growing industries such as paint, cosmetic and personal care, alcoholic
beverage and many more combined with their increase in spending is further
expected to augment the aluminum aerosol cans market growth.
Aerosol Cans Market forecast by Industry
Vertical (us$ billion)
Aerosol Cans the market has been further segmented by industry vertical as personal care
and cosmetics, food and beverage, healthcare, automotive, and others. In 2016,
personal care and cosmetics accounted for more than 50% of the share of the global
aerosol cans market owing to the rising global aging population, growing awareness
regarding personal hygiene, and an increasing need to look appealing. Food
and Beverage industry will also witness a significant market growth for aerosol
cans owing to rising purchasing power and living standards, changing
lifestyles, and limited shelf space available in supermarkets and hypermarkets.
Moreover, the rising consumption of alcoholic drinks worldwide will further
augment the demand for aerosol cans in the coming years within the food and
beverage industry.
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Sample
view of global aerosol cans market share
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Personal care
and cosmetics accounted for the largest market size in 2016 valued at US$X.XXX
billion and will continue to dominate the market throughout the forecast
period. The growing global aging population is the major driver of aerosol cans
market within the personal care and cosmetics industry as aged people, especially
women, tend to demand anti-aging products to look youthful. Substantial
increase in demand for products such as deodorants, shampoos and conditioners,
hair color sprays, and body sprays, due to growing awareness regarding personal
hygiene and rising disposable incomes and living standards is further fuelling
the demand for aerosol cans.
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