Global Aerosol Packaging Market - 2021-2028
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Aerosol Packaging Market Overview
The aerosol packaging market size was worth US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
An aerosol container or package, usually a metal can or plastic bottle, is designed to dispense its liquid contents as a mist or foam. Aerosol containers consist of a payload and a propellant under pressure that helps in the release of the payload once the container's valve is opened. Aerosol packaging consists of three major parts; container, actuator and valve. The actuator, when pressed, opens the valve.
The growing demand for rigid packaging and increasing application of aerosols in various industries such as cosmetics, pharmaceuticals, automotive are driving the aerosol packaging market.
Aerosol Packaging Market Dynamics
The global aerosol packaging market growth is driven by the growth of the cosmetic & personal care industry and demand for convenient shapes & sizes products and attractive appeal products.
Growth of the cosmetic & personal care industry
As per the United Nations Department of Economics and Social Affairs, the world's young population aged between 15 and 25 years was around 1.2 billion in 2019, 16% of the total population. Moreover, it is anticipated that the world's youth population will reach 1.4 billion around 2026. The younger population comprises lucrative demography for the cosmetics and personal care industry. The rise in their population will subsequently increase cosmetics and personal care products that use aerosol packaging.
According to Cosmetic Europe, a European Personal Care Association for the cosmetics and personal care industry, 72% of customers feel that cosmetics and personal care products improve their quality of life, whereas 80% of customers identify cosmetics and personal care products self-esteem.
Moreover, increasing demand for more sustainable packaging, to the desire for more diverse and multi-functional product offerings, drives the market of aerogel packaging in the personal care & cosmetics industry. For instance, in January 2019, over 30 companies launched products at the aerosol & dispensing forum, which features the Packaging of Perfume Cosmetics & Design in Paris.
Availability of alternatives in terms of packaging and price
For applications that do not necessarily require spray dispensing, cheaper alternatives in the form of a thermoform, tube, other flexible packages, and rigid plastic and metal packages are available. In addition, aerosol cans are being replaced by refillable spray bottles for spray applications, and refillable spray bottles are cheaper than aerosol cans as they do not need disposing of.
Moreover, materials used to manufacture aerosol packagings, such as cans, are relatively more expensive than their traditional alternatives. In addition to that, manufacturing cost also adds to the total cost of the product, along with disposing cost. These factors are likely to restrict the growth of the aerosol packaging market over the forecast period.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the aerosol packaging industry have seen a notable impact as all the production work, factories and other activities were closed. As a result, production was hindered by halts and supply chain disruption globally. Furthermore, after the pandemic, the governments still impose various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market. As a result, the losses are incorporated with less demand from the industry.
However, the market is expected to recover after the pandemic, with sectors aiming to complete the existing projects with higher production rates to recover from the incorporated losses.
Aerosol Packaging Market Segment Analysis
By product type, the aerosol packaging market is broadly classified into cans, bottles & cylinders and jars.
Aerosol cans are expected to grow at the fastest CAGR during the forecast period (2021-2028)
An aerosol can is produced by the impact extrusion process using a 99.5 % pure aluminum sheet. According to a report published by the International Organization of Aluminium Aerosol Container Manufacturers (AEROBAL), the aerosol can market witnessed three percent year-on-year growth and production of about 5.5 billion aluminum cans globally in 2016. These cans are consumer-friendly and provide high standards of hygiene and safety.
A major quantity of aerosols can go to the cosmetic market, followed by pharmaceutical, industrial and other sectors. The cosmetic applications include packaging of Perfumes & Health Hygiene products such as body deodorants, perfume sprays, room fresheners, shaving foams, hair colors, and several others.
Moreover, recent innovations and product launches also cater to the demand for aerosol cans. For instance, in January 2021, Ball Metalpack announced plans to launch a new high-speed aerosol can line at its can manufacturing plant in Wisconsin, US. The new line would support customer growth in categories such as household cleaning products, spray paints and others.
Aerosol Packaging Market Geographical Analysis
Asia Pacific region holds the largest market for the global aerosol packaging globally
Asia Pacific dominates the market regions and is expected to register a healthy CAGR over the forecast period. Governments of China and India have focused on promoting favorable investments, which create lucrative growth opportunities over the forecast period. In addition, increasing consumer spending in emerging Asian economies boosts the demand for aerosol in personal care, automotive, and paints.
Moreover, with the growing demand, leading players have been strengthening their market position with expansions and acquisitions. For instance, Unilever Group invested US$ 66 million to set up its first Asian aerosol deodorant manufacturing facility in Khamgaon, Maharashtra. The investment comes on the heels of a recent €70 million commitment to build new homecare liquids and distribution facilities in Thailand and a €75 million investment to build a new home care factory.
Aerosol Packaging Competitive Landscape
The Aerosol Packaging market is highly competitive with the local player's presence, followed by the global companies, contributing to the major share in the market growth. In addition, some of the key players contributing to the growth of the market are Aryum Aerosol Cans Ltd, Bharat Containers, Tubex GmbH, Ball Corporation, Euro Asia Packaging (Guangdong) Co. Ltd., Trivium Packaging, Crown, Mauser Packaging Solutions, Toyo Seikan Co. Ltd., Nampak Ltd. and others. The major players are adopting various new strategies to dominate the market, such as product launches, expansions, acquisitions and collaborations, contributing to the growth of the Graphene battery market globally.
Overview: Ball Corporation is an American packaging company that specializes in aluminum packaging for beverage, personal care and household products. The company is headquartered in Colorado, U.S.
Product Portfolio: Ball Corporation has a diverse aerosol portfolio. The company manufactures 1, 2 and 3-piece aerosol cans from personal care and household products to industrial solutions.
Key Development: In 2021, Ball Corporation launched the world's first aluminium stewardship initiative certified beverage cans in a partnership with Damm, a leading beverage company in Spain.
The global aerosol packaging market report would provide access to an approx: 69 market data table, 69 Figure s and 225 pages.
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