The global can opener market is projected to expand to an impressive valuation of US$ 7.59 million in 2023 and is projected to exhibit a compound annual growth rate (CAGR) of 5.2% from 2023 to 2033 and reach US$ 12.6 million in 2033.
With rising consumption of canned foods including ready-to-eat meals, frozen meals, animal fat, fish & poultry, fruits and veggies, and others, the can opener market is anticipated to expand dramatically over the projected period. Can openers be an item of daily life since of their obvious features including ease, simplicity, portability, little effort, less jumble, and smoother work.
There are various types and modeling techniques of can openers available on the marketplace for both residential and business implementations, varying in price from medium to ultra-high, which is expected to increase requirements for the can opener industry.
Heavy-duty can openers for industrial applications are also available, which are preferred for the food industry and frequent users who open 300 - 2000 cans per day. All of these aspects create a wide range of possibilities for can opener manufacturers and suppliers to market and capture undeveloped global markets.
Furthermore, rising e-commerce infiltration globally is fueling the expansion of the can opener industry, since these digital platforms enable retailers and customers to purchase or sell multiple products at once, minimizing the total lead time. All of these variables are likely to drive the global demand for can openers.
Some of the prominent market drivers of the Can Opener Market market are:
Advanced economies in North America and Europe are expected to hold a significant share of the worldwide can opener market over the coming years. The widespread use of can openers, as well as the existence of prominent manufacturers in the regions, are racing up consumption for can openers. The steady growth of the food and drink industries, as well as the burgeoning e-commerce in South Asia and East Asia, is predicted to boost demand for can openers in the coming decades.
Furthermore, important players in the can opener market are widening their participation in Latin America, the Middle East, and Africa, since these regions provide opportunities due to increasing spending power. Increasing product awareness in China, the development of new and specialized products, population explosion, and large increases in expenditure are expected to drive future demand growth. However, high treatment costs and increasing costs for such items are expected to limit market growth.
Moreover, advanced technological development by key manufacturers is estimated to contribute to market growth. For instance, the latest Electric can openers are kitchen appliances that make opening canned food secure, faster, and simple. Cuisinart Deluxe Stainless Steel Can Opener SCO60C is a stainless-steel brushed electric can opener that is both appealing and expensive.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | US$ 7.59 million |
| Anticipated Forecast Value (2033) | US$ 12.6 million |
| Projected Growth Rate (2023 to 2033) | 5.2% CAGR |
A can opener is a manual or electric device that used to open lids of the steel and tin cans. Peel-off style of cans are still fairly uncommon, making a can opener a mandatory kitchen tool even for the most basic cook.
On the backdrop of rising usage of canned food, such as ready-to-eat meals, frozen foods, meat, fish & poultry, fruits and vegetables, and others can opener market is expected to take a giant leap over the forecast period.
The most obvious features of can opener such as convenience, ease of handling, portable, little efforts, less messy and finer work, makes can opener the product of everyday life.
There are different types and models of can opener available in the market for both household and commercial applications ranging from moderate to ultra-high prices, which is further anticipated to boost the demands for can opener market.
Manufacturers are also providing heavy duty can openers for commercial applications that are ideal for food processors and heavy users who open from 300 to 2000 cans per day.
All these factors, brings plentiful of opportunities for can opener companies and distributors to market and capture untapped regions of the globe.
Additionally, rising e-commerce penetration globally stimulating the growth of can opener market, as these online platforms allows retails as well as consumers to sell or buy many products at once and thus, in turn, reduces overall lead time. All these factors are likely to propel the demand for can opener market across the globe.
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Consumer inclination towards packaged food and rapid penetration of food and beverage industries across the continents are of the prime factors that accelerate the can opener market growth up to a great extent.
Moreover, an increase in the number of single person home across the globe, boosted the demand for more packed food which in turn driving the global can opener market positively.
There is a key trend adopted by the players to provide more convenient and handy can openers to the customers such as smooth touch can opener, auto safety can opener, electric & automatic can openers further projected to drive the can opener market across the globe.
The high prices and lack of awareness of these automatic can opener compared to manual ones are not affordable for small food processors and also for household tasks which could emerge as the market restraint for can opener up to certain extent.
Moreover, in these uncertain and crucial periods of COVID-19, consumer goods sector shining out differently as people are opting for more packaged food products which has shown somewhat good impacts on the global packed food sector.
This mainly due to people are finding, the advantages such as, limited handling of the products inside the packets and the packets could be easily sanitized at home. This is expected to register new opportunities for can opener market in the pandemic period.
Based on the geography, the can opener market is categorized into North America, Latin America, Europe, East Asia, South Asia, MEA and Oceania. Developed countries of North America and European region are anticipated to be a momentous shareholder of the global can opener market during the forecast period.
Striking adoption of can opener and adequate presence of prominent manufacturers in the regions is bolstering the demand for can opener. The consistent expansion of food and beverage industries and booming e-commerce in South Asia and East Asia regions is likely to fuel the demand for can opener in the coming years.
Moreover, key players in the can opener are penetrating their presence in Latin America and Middle East & Africa as these region provide opportunities owing to increasing disposable income to some extent. Oceania is projected to register the notable market growth owing to sufficient presence food and beverage industries in the region.
Principal Consultant
Some of the leading can opener manufacturers are Helen of Troy Limited (OXO), Hamilton Beach Brands, Inc., Kuhn Rikon International, Edlund Company, LLC, Inter IKEA Systems B.V., Kitchenaid International, Sammic S.L., Bergner Group, and other local can opener manufacturers.
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Can Opener Market
