Aerosol packaging to remain highly sought after
According to a recent Future Market Insights (FMI) study, the global aerosol packaging market is projected to grow at a positive pace through 2021, surpassing nearly US$ 6.72bn in 2021.
Aerosol packaging consists of various features which increase its attractiveness – light-weight, cost-effective, temperature resistant, and offering extended product life – and it is available in different materials such as aluminum, tin-plated steel, plastic, and glass.
Over the past few years, aerosol packaging is gaining popularity due to the rising use of personal care & cosmetic products. Furthermore, the rising concern about cleanliness is driving the sales of homecare sprays, which is bolstering the growth of aerosol packaging market.
FMI forecasts that there are ample opportunities for the manufacturer of aerosol packaging in the coming future due to the rise in usage of aerosol packaging in various sectors.
The expansion of the personal care and cosmetics industry will remain the biggest growth driver in most regions. FMI has forecast over 40% of aerosol packaging to be sold in the sector in 2021.
- In terms of product, the cans, bottle and cylinders segment collectively holds over 4/5th of the global market share.
- Aluminium 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 and 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 and cosmetics across the US is expected to bolster the market demand.
- India is expected to be one of the most lucrative markets backed by demand from the personal care industry.
- China is anticipated to offer the most growth opportunities for manufacturers due to less competition in the region.
- The UK will spearhead the growth in Europe’s aerosol packaging market and is estimated to account for over 25% of market share.
- Germany and France will remain other attractive markets for aerosol packaging in Europe.
- Expansion of the personal care and beauty industry will lead to more sales in Japan and South Korea.
Product customisation and new launches remain the key strategies for leading players to maintain their position in the industry.
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 announced a product launch at the Aerosol Dispensing Forum (ADF) & Packaging of Perfume, Cosmetics & Design (PCD) with portfolio of innovative aluminium aerosol can shaping and printing solutions.
For more information, visit: www.futuremarketinsights.com/reports/aerosol-packaging-market.