by The Aerosol Cans Market comprises of cans fitted with an actuator and propellant to dispense various products such as personal care products, household care products, automobile care products, and others, through the use of compressed gases like propane and butane. Aerosol products provide convenience to consumers through their easy-to-use packaging and portability. Personal care products account for a major share of the aerosol cans market and include deodorants, hair sprays, shaving creams, and others. Household products like air fresheners, insecticides, polishes are also commonly packed in aerosol cans. The global aerosol cans market is estimated to be valued at US$ 18.54 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for eco-friendly packaging solutions is one of the key trends witnessed in the aerosol cans market. Consumers are showing more inclination towards sustainable products and manufacturers are responding to this demand by focusing on reducing packaging waste. Some of the initiatives adopted by players include developing refill packs to replace disposable cans, using aluminum in cans as it can be infinitely recycled without loss of quality, and reducing can weight to minimize material usage. Companies are also promoting the recyclability of aerosol cans to improve sustainability credentials. The adoption rate of recyclable and eco-friendly cans is expected to rise significantly over the forecast period supported by stringent regulations regarding plastic and packaging waste.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the aerosol cans market is moderate. The market requires high initial investments for setting up manufacturing plants which increases the entry barriers.
Bargaining power of buyers: The bargaining power of buyers in the aerosol cans market is high. Buyers have a wide range of choices of manufacturers to select from.
Bargaining power of suppliers: The bargaining power of suppliers in the aerosol cans market is moderate. Suppliers of raw materials have some scope to increase prices but competition among suppliers keeps their power in check.
Threat of new substitutes: The threat of new substitutes in the aerosol cans market is low. There are limited substitutes available for aerosol cans in product packaging and distribution.
Competitive rivalry: The competitive rivalry in the aerosol cans market is high. Manufacturers compete based on product quality, pricing and innovation.
Key Takeaways
The Global Aerosol Cans Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: Europe accounts for the largest share in the aerosol cans market. Major European countries such as Germany and U.K. have established consumer base and manufacturing facilities. Asia Pacific is expected to be the fastest growing region in the aerosol cans market owing to growth in end use industries and improving economic conditions in countries such as China and India.
Key players: Key players operating in the aerosol cans market are LG Chem, Hanmi Pharmaceutical Co., Ltd., Boryung Pharmaceutical Co., Ltd., Novartis AG, EirGenix, Inc., Biocon Limited, G.L. Pharma GmbH, Daewoong Pharmaceutical Co., Ltd., Sandoz International GmbH, Boryung Pharmaceutical Co., Ltd., VHB Life Sciences Limited, HanAll Biopharma, Taiba Healthcare, Huons Co., Ltd., Dong-A ST Co., Ltd.
