Global sales of can holders are valued at USD 425.6 million in 2024 and are expected to reach a revenue of USD 603.4 million in 2034. Revenue is set to increase at a CAGR of 3.6% during the forecast period, from 2024 to 2034. Can holders generated revenue worth USD 410.4 million in 2023. It is expected to record a Y-o-Y growth of 2.7% in 2024.
Based on the material, the plastic can holders segment is projected to remain the leading segment among the other material used for manufacturing can holders. The plastic can holders segment is estimated to hold approximately 47% of the market value share by the end of 2024.
The plastic can holders is likely to remain leader due to cost effectiveness, lightweight, and design flexibility. It is also reusable and long lasting for outdoor activities and as a promotional product. Moreover, improvement in the eco-friendly plastics would further relieve sustainability worries boosting demand.
Global Can Holders Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 410.4 million |
| Estimated Size, 2024 | USD 425.6 million |
| Projected Size, 2034 | USD 603.4 million |
| Value-based CAGR (2024 to 2034) | 3.6% |
Restaurants anticipated to gain highest market share among the end user segments due to large quality of consumption of beverages in dine in and takeout setting. Providing a can holder to customers increases convenience and presentation and usually induces customers to order more from restaurants as convenience offered by branded can holders acts as a marketing or an improvement of overall consumer experience. Growing casual dining and outdoor seating drive up demand for insulated and portable can holder, thus restaurants continue to be the largest driver for can holders.
The can holders industry could possibly see encouraging growth in the forecast period. It is estimated to present an incremental opportunity of USD 194.8 million and is expected to surge 1.4 times the current market value through 2034.
The above table presents the expected CAGR for the global can holders market over several semi-annual periods spanning from 2024 to 2034. In the first half (H1) of the decade from 2023 to 2033, the business is predicted to surge at a CAGR of 3.3%, followed by a slightly low growth rate of 3.0% in the second half (H2) of the same decade.
| Particular | Value CAGR |
|---|---|
| H1 | 3.3% (2023 to 2033) |
| H2 | 3.0% (2023 to 2033) |
| H1 | 3.7% (2024 to 2034) |
| H2 | 3.3% (2024 to 2034) |
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to increase slightly to 3.7% in the first half and remain relatively moderate at 3.3% in the second half. In the first half (H1) the market witnessed a decrease of 30 BPS while in the second half (H2), the market witnessed a decrease of 40 BPS.
Rise in Demand for Energy Drinks Supplement the Sales
The rising consumer focus on health and fitness drives the demand for energy drinks. Energy consumption across the world is increasing. Energy drinks such as red bull are gaining market share due to the increased preference for energy drinks among millennials. According to the report published by Red Bull, around 9.8 Billion cans of red bull sold in the world in 2021, which is an increase of around 24% against 2020 sales.
The energy drinks offered in cans as it is lightweight and helps in saving space during transportation. In addition, people do not relate energy drinks with glasses so energy drinks are been offered in cans. This augments the sales of can holders. The can holders preferred by hotels, cafes, and other food service outlets to serve multiple energy drink cans. Overall, the increased consumption of energy drinks supplements the sales of can holders for customer convenience.
Environment-friendly Products Create a Growth Opportunity for the Paper Can Holder
Consumers are now becoming more environmentally conscious. Eco-friendly can holders anticipated to capture the market, as they are recyclable and degradable. The government initiative towards the use of sustainable and eco-friendly packaging products would help the holder's manufacturers can market share during the forecast period.
The end-users without any double thoughts would conveniently use eco-friendly products. Consumers prefer can holders, which are better in quality and are less harmful. Paper along with molded fiber would be prominent materials to drive the can holder's market. A sustainable packaging material can control the growing environmental issues. For instance, WestRock Company offers can holders, which made from fiber-based material that is durable and recyclable.
Availability of Alternatives Hamper the Sales
Easily and widely available reusable drink containers like stainless steel bottles and tumblers pose strong compaction to the can holder market. These alternatives offer better insulation, are sturdier and come out with friendly, eco-friendly characteristics that appeal demand for disposable and even reusable can holders decreases. Another type of recyclable vessel that meets different needs is in some respect also saving to avoid the necessity for specific can holders transforming preferences and consumers buying patters slowly with time.
The global can holders industry recorded a CAGR of 1.5% during the historical period between 2019 and 2023. The growth of can holders industry was positive as it reached a value of USD 410.4 million in 2023 from USD 387.2 million in 2019.
The can holders are used to hold more than one can at a time. The can holders are made from different materials such as plastic, paper, or metal based on the end-users requirement. With the surge in demand for easy-to-use and convenient packaging products, the demand for can holders is projected to boost. Customers can purchase more than 2 cans from a retail store since the can holders are simple for them to use. Due to their ease of handling, can holders are becoming more and more popular. These elements are anticipated to increase demand for can holders on the international market.
The rising adoption of cans for packing different beverages by beverage manufacturers creates a growth opportunity for the can holders market. The availability of recyclable and biodegradable can holders bolsters the sales of can holders.
The surge in the number of food service outlets across the globe is the major factor driving the demand for can holders. According to National Restaurant Association, the food service industry is projected to reach USD 898 Billion by the end of 2022. This is estimated to have a fair impact on the can carrier market. Overall, the global can holders market is estimated to boost during the forecast period.
A positive outlook for global can holders sales is expected as this product becomes increasingly dependent on consumption of beverages, outside activities, and increased demand for convenient and portable solutions.
Sustainable and reusable growth will come from markets that are both growing nonalcoholic and alcoholic beverages across the world and a trend towards sustainable and reusable materials represented by ecofriendly plastics and biodegradable alternatives has also been triggering growth. The north Americas Europe and Asia Pacific market will drive the marled forwards with high consumption rates whereas emerging markets will offer a long term prospects for expansion with growing disposable income and a mobile lifestyle.
Tier 1 companies include market leaders that correspond to a market revenue above USD 15 million capturing significant market share between 10% and 20% of the global market. High production capacity and a wide product portfolio characterize these market-leading firms.
These players are characterized by substantial manufacturing experience concerning a range of products for different applications and geographic penetration, backed by a strong consumer base.
These companies manufacturing the products have products on offer with a wide range and with state-of-the-art technological innovations, coupled with adherence to regulatory imperatives that offer nothing but the best quality. Tier 1 prominent companies include Smurfit Kappa Group PLC, Graphic Packaging International LLC, WestRock Company, and Berry Global.
The companies in Tier 2 include mid-size players with revenues of USD 5 million to USD 15 million, present in specific regions, and highly influencing the regional market. Such players are characterized by a limited international presence and well-maintained market knowledge.
In the case of such market players, the technology is good, and the regulatory compliance is ensured, though advanced technology with wide global reach may not be there. While other prominent companies in tier 2 include Roberts PolyPro Inc, PakTech, E6PR, Fishbone Packaging Inc, Napco Paper Containers, and others.
The rest are very small companies operating at the local presence and serving niche markets having revenue below USD 5 million. These companies are notably oriented to the fulfillment of local market demands and are consequently classified within the tier 3 share segment. They are players on a very small scale, and have very limited geographical reach. Within this context, Tier 3 can be described as an unorganized market-a generic term applied to that part of the industry, which has less structure, and formalization compared to the organized competitors.
The section below covers the industry analysis of the can holders market for different countries.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 2.1% |
| Germany | 1.8% |
| UK | 1.5% |
| Brazil | 3.6% |
| India | 4.7% |
| China | 4.2% |
| Japan | 3.4% |
| GCC Countries | 4.0% |
The USA can holders market is estimated to register a CAGR of 2.1% during the forecast period. The reason behind the same is the increased usage of cans for beer, which has a direct impact on the can holder's market growth. According to Beer Serves America, America’s beer industry supports nearly 2.4 million jobs, provides more than USD 132 billion in wages and benefits, and contributes more than USD 409 billion to the USA economy.
Hundreds of thousands of jobs and a significant contribution to the economy through the consumption of beer tie demand to accessories like a can holder for events, bars, and outdoor gatherings. This resultant impact makes the marketplace for reusable as well as promotional can holders even stronger in the USA. The beer industry in the USA projected to bolster the demand for can holders in the USA.
The non-alcoholic beverages market in Japan is anticipated to be worth USD 40 billion in 2023 with around USD 1 billion coming from imports as stated by the US. Foreign Agricultural Service. According to the USA. FAS in 2022, the production values of soft drinks, juices, and water was around USD 32.76 billion for alcoholic beverages it was USD 26.34 billion and for tea, coffee, & cocoa it was around USD 7.12 billion.
Such strong nonalcoholic beverage market in japan will be requiring can holders in particular among soft drinks, juices, and water. With such enormous consumption, the consumers will demand a portable and insulated can holder. This is further augmented by growing in the go drinking preferences and for that, reason japan is good market for manufacturer of can holders. Japan is anticipated to record CAGR of 3.4% in assessment period.
The section contains information about the leading segments in the industry.
| Material | Plastic |
|---|---|
| Value Share (2034) | 47% |
Plastic can holders are leading the market because they are inexpensive, lightweight, and relatively easy to mass-produce. Plastic holders are available in a wide variety of designs and forms they are most popularly used for personal use as well as for commercial purposes such as restaurants and promotional activities. They are extremely durable and resistant to wear which makes the, endearingly appealing to consumers and organizations alike. They remain atop the market despite being challenged by environmental factors.
| Product Type | Rigid Can Holders |
|---|---|
| Value Share (2034) | 65% |
Rigid can holders lead the market owing to their durability, strength, and better protection of cans during transportation and handling. The major application field covers outdoor activities, commercial applications, and promotion events where sturdiness is necessary.
Rigid holders also have greater reusability and a longer lifespan hence offering better value to the consumer. They can easily feature with ones designs and branding, making them extremely attractive for the use of a business. This is what places it at the top of the market.
The market competition for can holders is extremely robust and has a combination of global and local manufacturers. The real players are busy innovating products and, therefore, are adopting environment-friendly material and introducing customization options to the buyer to distinguish their product.
The big companies are making themselves more visible in the market by strategic partnerships, brand opportunities, and promotional products. The competition becomes hotter in this regard because the demand from the consumers for sustainable solutions and reusable solutions keeps on surging; thus, the competitors need to move ahead with innovation and adaptation.
Recent Industry Developments in Can Holders Market
In terms of material, the industry is divided into plastic can holders, paper can holders, and metal can holders.
In terms of capacity, the industry is segregated as 2 cans, 4 cans, 6 cans, and more than 6 cans.
The industry is classified by product type as rigid can holder, and semi rigid can holder.
The industry is classified by end use as hotels & motels, restaurants, café, food service outlets, and others (Institutes, Airports, etc.).
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East and Africa (MEA), have been covered in the report.
The global can holders industry is projected to witness CAGR of 3.6% between 2024 and 2034.
The global can holders industry stood at USD 410.4 million in 2023.
The global can holders industry is anticipated to reach USD 603.4 million by 2034 end.
South Asia and Pacific is set to record the highest CAGR of 5.5% in the assessment period.
The key players operating in the global can holders industry include Smurfit Kappa Group PLC, Graphic Packaging International LLC, WestRock Company, and Berry Global.
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Can Holders Market
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