Future Market Insights (FMI) has released a forecast projecting the global aerosol packaging market to be valued at US$ 7.5 billion in 2024, with expectations to rise to US$ 12.3 billion by 2034. The market is anticipated to grow at a rate of 5.0% during the forecast period, with a value of US$ 7.2 billion recorded in 2023.
The aerosol packaging market is deeply influenced by consumer demand across various sectors such as food and beverage, pharmaceuticals, personal care, and e-commerce. Economic conditions, including GDP growth, inflation rates, and unemployment, also significantly affect its growth, as these factors determine the health of manufacturing industries globally.
In recent years, the aerosol packaging market has experienced fluctuations. The COVID-19 pandemic caused widespread shutdowns, halting manufacturing operations and negatively impacting the market. However, the increased use of aerosol containers for products like disinfectants, sanitizers, and nasal sprays during the pandemic spurred a rapid recovery and growth in this sector.
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Market Insights:
- Key Consumer Industries: The leading consumer groups for the aerosol packaging market include cosmetic companies, cleaning product manufacturers, pharmaceutical companies, automotive product manufacturers, and the electronics industry. These industries utilize aerosol packaging solutions for a wide range of products, including deodorants, hairsprays, cleaning sprays, pharmaceutical formulations, automotive lubricants, electronic cleaning products, and more.
Restraining Factors:
- Environmental Concerns: Traditional propellants like hydrofluorocarbons (HFCs) and chlorofluorocarbons (CFCs) contribute to ozone depletion and greenhouse gas emissions, posing challenges for the aerosol packaging market. Additionally, improper disposal of aerosol cans can generate non-biodegradable waste, harming the environment and deterring eco-conscious consumers.
- Cost Concerns: The installation of advanced aerosol packaging technologies may require higher initial investments, particularly impacting smaller companies with limited financial resources.
- Competition from Alternative Packaging Solutions: Aerosol packaging faces competition from alternative solutions such as pump sprays, roll-ons, and solid forms, diverting demand away from traditional aerosol packaging.
- Misconceptions: Negative perceptions about aerosol products, including safety concerns and environmental impact, pose challenges for market growth.
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Key Takeaways
- 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
Key Companies in this Market
- Berry Global, Inc.
- Crown Holdings, Inc.
- Ball Corporation
- CCL Industries Inc.
- Aptar Group Inc.
- Silgan Holdings Inc.
- Montebello Packaging Inc.
- Exal Corporation
- Graham Packaging Company
- Allied Cans Limited
- Euro Asia Packaging
- Nampak Ltd.
- ARYUM Metal
- TUBEX GmbH
- Bharat Containers
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Key Segments Covered in Aerosol Packaging Industry Research
By Product Type:
- Cans
- Bottles & Cylinders
- Jars
By Material:
- Aluminum
- Tin Plated Steel
- Plastic
- Steel
By Cap Type:
- Actuators
- Trigger Sprayer
- Fine Mist Sprayer
- Other Dispensing Caps
By End User:
- Food and Beverages
- Personal Care & Cosmetics
- Aerated Desserts
- Non-dairy Whipping Creams
- Edible Oils
- Salad Dressings
- Coffee Enhancers
- Milk Taste Modifiers
- Cocktail Foam Toppings
- Others (Coconut Whipped Topping, etc.)
- Home Care
- Others (Pharmaceuticals, etc.)
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa (MEA)
- Asia Pacific
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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