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Asia Pacific Aerosol Cans Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 120 Pages
  • January 2022
  • Region: Asia Pacific
  • Mordor Intelligence
  • ID: 5529213

The Asia Pacific aerosol cans market is expected to register a CAGR of 5.7% during the forecast period (2021 - 2026). The impact of the outbreak of COVID-19 on the market is expected to be significant in the short run, as the global lockdown has brought the entire manufacturing units to an almost grinding halt globally. It will cause the demand and supply system to be suboptimal and reduce the profit margins. But, in the long run, with businesses restarting normally and e-commerce trends on the rise, the market is expected to rebound.

Key Highlights

  • Consumer dynamics in the Asia-Pacific region are changing with customers of beverage products becoming health-conscious, thus trying to reduce beverage consumption.
  • Beverage companies are, therefore, offering mini-cans of smaller volumes. This trend is resulting in more substantial unit consumption, resulting in increased demand for metal cans. Also, the metal packaged products in the region are being sold at a higher price, influenced by the focus on branding.
  • With increasing environmental concerns, consumers are demanding metal cans, owing to lower environmental impact. Thus high recyclability of metal is one of the significant drivers of the market. While economic conditions and lower pricing of canned goods, in some regions, remain a crucial driver in the market.
  • India and China are projected to be the key sectors contributing to the market's growth, with growing adoption in industries additional to Food and Beverage. Stringent government regulations to reduce plastic consumption also influence the increased demand for aerosol metal cans.
  • Since its inception, the industry has witnessed numerous innovations regarding manufacturing procedures, shapes, sizes, and consumption. Preservative properties and structural integrity of the metal cans, offering higher shelf life, have resulted in the massive deployment of metal cans in the food packaging industry, one of the largest consumer industries for metal cans.
  • Aggressive marketing pushes by beverage companies towards using aerosol metal cans have also impacted the global market, as canned beverages are trendy among youth, and canned food is convenient and economical among the users.
  • High investments in canned packaging research and development have further fueled the growth of the market. Innovations, such as reduced surface area without affecting the volume, resulted in a lower cost of packaging for metal cans, thus supporting companies in lowering packaging expenditure.

Key Market Trends

Cosmetic and Personal Care is Expected to Account For Significant Market Share

  • Metal cans provide a high-temperature resistance, allowing cosmetic products and personal care products to retain the product quality without compromising on the characteristic loss. The usage of metal aerosol cans in the industry is also dedicated to controlling moisture due to linings. The aerosol cans are used for deodorants, shaving foams, and other cosmetic and personal care products. The airtight aerosol cans are used to retain the product quality, thus providing a longer shelf life.
  • Moreover, various key manufacturers of the studied market offer a wide range of products for the cosmetic and personal care industry. For instance, Ball Corporation provides aerosol cans in two options, namely one, two, and three-piece cans, and caters to personal care and household packaging, alongside other industries.
  • The growing demand is mainly attributed to aerosols' application in many personal care products, such as hair sprays, body sprays, shampoos, deodorants, antiperspirants, and foams. Furthermore, the increasing demand for aerosol-based products, both from the young and aged populations, contributes to the aerosol-based personal care market in the region.
  • With the expansion of the personal care industry in the Asia Pacific, the demand for aerosols is also expected to increase. The development of the personal care industry is mainly attributed to the rising consumer disposable income, which is enabling them to spend on luxury products. As several personal care products contain aerosols, their increasing sale is likely to benefit the market.
  • Further, the growing beautification trend has increased demand for skincare, haircare, and personal care products, especially by the female population, which is driving the segment's demand. Ongoing urbanization, increasing awareness regarding beauty products, and rising spending toward self-care boost the segment growth.

China Accounts For the Largest Market Share

  • The cosmetics market in China has been one of the fastest-growing sectors in the last few years, benefitting from an increasingly engaged consumer base, augmenting the market's growth. In addition, consumer spending on cosmetics continues to grow, facilitating the adoption of processed, packaged, and expensive products. Skincare and decorative cosmetics are growing soundly, with facial care and medical skincare witnessing a robust demand. Moreover, growth potential is also provided by anti-aging products and those intended to protect against environmental pollution.
  • According to Tmall Innovation Center, the young women of the post-90s generation have become the most crucial consumer group driving growth in China's cosmetic sector. The post-90s age has independent consuming power, and a simultaneous surge of interest in beauty and skincare amongst this demographic has translated into significant growth. This is aiding the development of the country's cosmetic packaging market, which boosts the aerosol cans market.
  • Players in the industry are strengthening their manufacturing capabilities in the country to tackle new opportunities. For instance, in 2020, Albéa, a cosmetic packaging company, plans to begin the operations of their new manufacturing facility in China on the lookout to capitalize on the growing e-commerce opportunities.
  • However, in the wake of the COVID-19 pandemic, the effects caused by rules about lockdown and self-isolation have resulted in companies moving to source away from China and reconsidering the raw materials used in packaging. At the same time, companies such as APC Packaging have stated that their manufacturing plant in China is up and running at total capacity and has been receiving shipments regularly.
  • Further, Chinese demand for metal food cans is also expected to witness steady growth. Can gains may be on par with growth in canned food production. Robust growth opportunities would be based on growing personal income Asia Pacific Aerosol Cans and development expenditures in the country, fueling more lavish spending, aiding the growth of the metal can market.

Competitive Landscape

The Asia Pacific aerosol cans market is moderately consolidated with a few significant players as the market is price sensitive; hence sustaining in the market is demanding. Further, vendors in the market are driven by sustainability and product enhancements to capture the market share and profitability. Some of the recent developments in the market are:

  • October 2021 - Pharma major Cipla’s consumer health arm rolled out an anti-viral aerosol can nasal spray called Naselin, which contains povidone Iodine to protect against coronavirus and respiratory tract infections.
  • August 2020 - Ball Corporation has completed the acquisition of Tubex Aluminium Aerosol packaging. The acquisition is expected to expand the company’s aerosol packaging in APAC and help the group improve financial performance by introducing innovative products to the market.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 Market Drivers
5.1.1 Growing Demand from the Cosmetic Industry
5.2 Market Restraints
5.2.1 Increasing Competition from Substitute Packaging
5.3 Market Opportunities
5.3.1 Emerging economies offer high growth potential
7.1 By Material
7.1.1 Aluminum
7.1.2 Steel-tinplate
7.1.3 Other Materials
7.2 By End-User Industry
7.2.1 Cosmetic and Personal Care (Deodorants/Antiperspirants, Hairsprays, Hair Mousse, and Others)
7.2.2 Household
7.2.3 Pharmaceutical/Veterinary
7.2.4 Paints and Varnishes
7.2.5 Automotive/Industrial
7.2.6 Other End-user Industries
7.3 By Country
7.3.1 China
7.3.2 India
7.3.3 Japan
7.3.4 Rest of Asia Pacific
8.1 Company Profiles
8.1.1 Crown Holdings inc.
8.1.2 Ball Corporation
8.1.3 Toyo Seikan Group Holdings
8.1.4 Can-Pack S.A.
8.1.5 CCL Industries
8.1.6 Ardagh Group
8.1.7 SKS Bottle & Packaging, Inc
8.1.8 Nampak Ltd
8.1.9 Mauser Packaging Solutions