ESOMAR-certified consulting firm Future Market Insights in a study projects the global aerosol packaging market to exhibit growth at a positive pace through 2021. According to the report, the market is expected to surpass nearly US$ 6.72 Bn in 2021.
Rising demand for incorporating sustainable packaging solutions is primarily underpinning expansion prospects. Furthermore, FMI projects the market to rise at a CAGR of nearly 4.8% between 2021 and 2031
Rising demand from the personal care & cosmetics industry has prompted the manufacturers to offer sustainable packaging solutions. Hence, increasing investment and rising research & development activities for green solutions are driving the sales of aerosol packaging.
Manufacturers are increasing the production of aluminum & plastic aerosol packaging as it is lightweight, has a lesser carbon footprint and is recyclable to facilitate the growing demand from personal care industry. Also, focus on innovation in terms of sustainability are expected to widen the growth opportunities for the market players over the coming years.
Also, increased application of aerosol packaging within food & beverage and pharmaceutical sector is expected to bolster the market growth. Furthermore, expansion of food & beverage and pharmaceutical industry is expected to provide substantial growth in the upcoming decade. Launch of innovative and sustainable designs for the production of relief sprays, air sprays and others will continue to drive the demand.
“Leading players are focusing on recyclability option and aesthetic look of the aerosol packaging to woo the end users and customers while adhering to stringent government regulations for sustainable solutions” says the FMI analyst
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Product customization and new launches remains the key strategy for the leading players to maintain their position in the industry.
In April 2021, Crown Holdings Inc. announced a strategic collaboration by entering in a definitive agreement with KPS Capital Partners, LP in order to sell its European Tinplate business that comprises of 44 manufacturing facilities in 17 countries of Europe, Middle East & Africa which produces aerosol cans and metal closures. Through this aims to expand their customer base and strengthen their footprints globally.
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, the world’s leading aluminum beverage and aerosol packaging supplier announced a product launch at the Aerosol Dispensing Forum (ADF) & Packaging of Perfume, Cosmetics & Design (PCD) with portfolio of innovative aluminum aerosol can shaping and printing solutions.
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Some of the prominent aerosol packaging companies profiled by FMI are:
More Insights on the Global Aerosol Packaging Market
In its latest report, Future Market Insights provides a detailed segmentation on the global aerosol packaging market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the aerosol packaging market with a detailed segmentation on the basis of:
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