Can holders, also known as beverage holders, koozies, or stubby holders, are insulating sleeves or containers designed to keep canned beverages cool and protect hands from the cold or condensation. These holders are popular accessories for various canned beverages, including sodas, beers, energy drinks, and other canned beverages.
As per a comprehensive study conducted by Future Market Insights, the global can holders market is poised for substantial growth in the coming years. In 2022, the market is expected to be valued at approximately US$ 399.4 million, and it is projected to expand at a commendable Compound Annual Growth Rate (CAGR) of 3.6%, reaching an impressive valuation of US$ 567.7 million by the year 2032.
One pivotal factor contributing to this growth is the choice of materials used in can holders. Among the various materials employed in manufacturing can holders, the plastic can holders segment is anticipated to maintain its dominance. This segment is estimated to account for approximately 47% of the market value share by the conclusion of 2022. Additionally, the growing concern for sustainability is projected to create new growth opportunities within the paper can holders market.
This market outlook highlights the increasing demand for can holders and underscores the significance of material choices in catering to diverse customer preferences and sustainability objectives. As the can holders market continues to evolve and adapt, manufacturers must consider material innovations and environmental consciousness to remain competitive and meet the expectations of both businesses and consumers.
Get Exclusive Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-15680
Market Drivers:
- Brand Promotion: Can holders serve as effective branding and promotional tools for beverage companies, allowing them to display logos, slogans, and marketing messages.
- Rising Beverage Consumption: The increasing consumption of canned beverages, including soda, beer, energy drinks, and ready-to-drink products, drives the demand for can holders.
- Convenience: Can holders provide a convenient way for consumers to carry multiple beverage cans, making them popular for picnics, parties, outdoor events, and gatherings.
- Customization: Manufacturers can offer can holders with various designs, materials, and customization options, catering to diverse customer preferences and branding needs.
- Sustainability: The use of eco-friendly materials and reusable can holders aligns with sustainability goals and resonates with environmentally conscious consumers.
Growth Factors
One key reason behind the widespread adoption of cans for packaging energy drinks is their lightweight and space-saving characteristics. Cans are convenient and easily transportable, making them the preferred choice for this beverage category. Additionally, consumers associate energy drinks with the iconic can packaging, which further drives the preference for cans.
The surging consumer emphasis on health and fitness continues to drive the robust demand for energy drinks worldwide. The global consumption of energy-boosting beverages is on the rise, with brands like Red Bull securing a larger market share due to their popularity among millennials. Notably, a report published by Red Bull revealed that approximately 9.8 billion cans of their energy drink were sold globally in 2021, marking an impressive 24% increase over 2020 sales.
This trend has a positive ripple effect on the sales of can holders, as hotels, cafes, and various food service outlets opt for these holders to efficiently serve multiple energy drink cans to their customers. Altogether, the surging consumption of energy drinks not only energizes individuals but also supplements the demand for can holders, contributing to customer convenience and facilitating the growth of the beverage industry.
Purchase this report to Uncover Segment-specific Information, Identify Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/15680
Major Players
- Smurfit Kappa Group PLC
- Graphic Packaging International LLC
- WestRock Company
- Roberts PolyPro Inc.
- PakTech
- E6PR
- Fishbone Packaging Inc.
- Stora Enso Oyj
- Easternpak (Napco Paper Containers)
- Keystone Paper & Box Co
- WaveGrip™ (Berry Global Group)
- Hi-Cone
Can Holders Market by Category
By Material, Can Holders Market is Segmented as:
- Plastic Can Holders
- Paper Can Holders
- Metal Can Holders
By Capacity, Can Holders Market is Segmented as:
- 2 Cans
- 4 Cans
- 6 Cans
- More than 6 Cans
By Packaging Type, Can Holders are Segmented as:
- Rigid Can Holders
- Semi-rigid Can Holders
By End-user, Can Holders Market is Segmented as:
- Hotels & Motels
- Restaurants
- Café
- Food Service Outlets
- Others (Institutes, Airport stations, etc.)
By Region, Can Holders Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
For any Queries Linked with the Report, Ask an Analyst: https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-15680
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
