The global can holders market is poised for growth, with Future Market Insights research forecasting a valuation of US$ 399.4 million in 2022. This market is expected to further expand at a steady Compound Annual Growth Rate (CAGR) of 3.6%, reaching US$ 567.7 million by 2032. The upswing in sales of can holders is underlined by the dominance of the top 5 companies, projected to collectively hold 20-25% of the market by the close of 2022.
Among the various materials used for manufacturing can holders, the plastic segment is set to maintain its leading position. It is estimated to command approximately 47% of the market value share by the end of 2022. Notably, the rising global concern for sustainability is poised to create growth opportunities for the paper can holders market. As eco-conscious consumers and industries increasingly seek environmentally friendly packaging solutions, paper can holders are expected to witness increased demand, further fueling the market’s expansion in the coming years.
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 number of food service 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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Future Market Insights forecast that there are various opportunities for the players operating in the can holders market in the coming future due to the innovation & customization offered by manufacturers of can holders. The growth of the can holders market seems rising across various regions.
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 1/3rd 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 beverage 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.
Impact of COVID-19 on Can Holders market
COVID-19 marked a negative growth impact for the global can holders market. The manufacturing activities in various end use industries shut down and the lockdown situations across the world in the first half of 2020, marked major losses and decline in the global can holders market. Due to the no or low demand for can holders from the end-users, shutdown of various hotels & cafes, improper supply chain, risk of getting infected, government restriction on stepping out, and others are the major factor that had an adverse impact on the can holders market during the COVID-19 pandemic.
Later, with the end-users started to operate along with providing online delivery services as well reduction in government restriction created a growth opportunity for the can holders market. Thus, the future outlook for the can holders market is anticipated to propel during the forecast period.
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.
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Can Holders Market by Category
By Material:
- Plastic Can Holders
- Paper Can Holders
- Metal Can Holders
By Capacity:
- 2 Cans
- 4 Cans
- 6 Cans
- More than 6 Cans
By Packaging Type:
- Rigid Can Holders
- Semi-rigid Can Holders
By End-user:
- Hotels & Motels
- Restaurants
- Café
- Food Service Outlets
- Others (Institutes, Airport stations, etc.)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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