Market Trends of Asia Pacific Aerosol Cans Industry
This section covers the major market trends shaping the APAC Aerosol Cans Market according to our research experts:
Household is Expected to Account for Significant Market Share
- The household sector is among the leading end users of aerosol cans. Household products that use aerosol cans include insect repellants, air fresheners, car cosmetics, and cleaning agents.
- The demand for these products in Asia-Pacific is increasing due to rapid urbanization, increasing awareness about hygienic products, and the growing disposable income of the middle-class population.
- According to the Chinese government, the urbanization rate of permanent residents in the country reached 64.71% in 2021. According to China's 14th Five-Year Plan (2021-2025), the government aims to raise its urbanization rate to 65%. Such trends are expected to create a favorable market scenario for aerosol cans.
- Due to the pandemic, the demand for household products for hygiene increased significantly due to social distancing measures and restrictions on the movement of people, resulting in many people staying at home.
- This demand is expected to sustain the impact of the pandemic due to the growing awareness about hygiene, especially among the urban population. The market is expected to witness positive demand from the household product segment.
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China Accounts for the Largest Market Share
- Aerosol cans are considered consumer-friendly, offer high safety and hygiene standards, and are produced by the impact extrusion process utilizing a 99.5% pure aluminum sheet. The demand for aluminum aerosol cans is increasing due to their several benefits. Market vendors are engaging in partnerships and investments to offer new aluminum cans.
- With a major share of the global population and increased purchasing power of a vast section of the middle class in the last few years, China has become one of the largest soft drink markets in terms of volume and value. Both domestic and international soft drink producers have enjoyed steady growth rates in recent years. The Chinese market witnessed increased adoption of aluminum aerosol cans by beer and soft drink producers due to the increasing concerns over eco-friendly packaging solutions and the effects of plastic bottles on the environment.
- According to an article published in drinktec.com in July 2021, functional and energy drinks registered substantial growth in China, along with water, carbonated beverages, and ready-to-drink beverages. The article also observed that nearly 40% of Chinese respondents intend to live more frugally and seek value for money when selecting beverage products. Therefore, the demand for energy drinks and other beverages may improve the market growth for aerosol cans in China.
- Similarly, companies in the region are focusing on innovating aerosol cans in different shapes and sizes, meeting consumer requirements. For instance, in November 2021, the Chinese can maker King planned to invest in new plants and product lines to expand its capacity for aluminum beverage cans.
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