According to Future Market Insights research, during the projected period, the global can holders market is set to enjoy a valuation of US$ 399.4 Million in 2022, and further expand at a CAGR of 3.6% to reach US$ 567.7 Million by the year 2032. The sales of the can holders are anticipated to bolster with the top 5 companies estimated to hold around 20% – 25% of the market by the end of 2022.
The can holders are used for carrying and holding more than one can together this helps in carrying or holding multiple cans at a time. The can holders are made from different materials such as plastic or paper or metal. The can holders are made available in rigid as well as semi-rigid form based on the requirement of end-users. The can holders are a cost-effective, durable, reusable, and rigid packaging solution that helps in saving time by carrying multiple cans at a time. The increasing demand for cans in the food & beverage industry propels the demand for can holders.
Moreover, the availability of customization such as printing on the can holders, varying carrying capacity, and others gain traction among the end-users. The increasing foodservice outlets, restaurants, hotels & motels, and cafes are projected to augment the sales of can holders. Overall, based on the benefits offered by can holders as well as the expanding end-users base is estimated to propel the sales of can holders during the forecast period
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Key Takeaways from Can Holders Market
- Plastic is the dominant material with a 47% market share in 2021 which increases to 51% in 2032 and the same segment is projected to create an incremental opportunity of US$ 986.8 Mn during 2022-2032. It is anticipated to expand at a CAGR of 4.3% during the forecast period against the CAGR of 3.5% during the historic period.
- The hotels & motels industry is estimated to be a lucrative end-user for the can holders market. It is anticipated to accelerate with a CAGR of 3.0% in the global market and is expected to attract investors for can holders. The hotels & motels segment accounts for around 1/3 rd portion of the total market share in 2021.
- North America and Europe region are estimated to remain the lucrative market for the can holders during the forecast period.
“Due to shifting customer demand towards canned products and expanding food & beverage industry along with various product development in canned products is anticipated to augment the sales of can holders among the end-users” –says FMI Analyst
Increasing Number of Hotels & Motels along with its Online Delivery Service Drives the Demand for Can Holders
The hotels & motels industry is seeing growth, especially in a post-pandemic world. The growth in the industry is due to the emergence of direct-to-customer food and beverages delivery apps as well as increased demand for canned food and beverages. The Millennials and Gen Z also believe in the philosophy of YOLO (You Only Live Once) leading to more expenditure on food & beverages. In addition to it, technology is also playing a crucial part in the hotels & motels growth journey. The greater the sales of hotels & motels the greater the opportunity for the global can holders market as the hotels & motels segment contributed 33% of the market share in 2021 so it can propel the growth of the can holders market.
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Can Holders Market Landscape
Smurfit Kappa PLC, Graphic Packaging International LLC, WestRock Company, Roberts PolyPro Inc, PakTech, E6PR, Fishbone Packaging Inc., Stora Enso, Easternpak (Napco Paper Containers) and others are manufacturers operating in the can holders market. The Tier 1 players in the market hold 20-25% in the global can holders market.
Can Holders Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global can holders market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the can holders based on the material (plastic can holders, paper can holder, and metal can holders), capacity (2 cans, 4 cans, 6 cans, more than 6 cans), packaging type (rigid can holder & semi-rigid can holder), and end-user (hotels & motels, restaurants, cafes, foodservice outlets, others (institutes, airport station, etc.)) across seven regions.
About Future Market Insights Inc. (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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