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The growing popularity of canned foods such as ready-to-eat meals, tin fish and meat, and frozen foods is expected to significantly increase the demand for can openers in every household. As a result, this factor is a key indicator of market growth.
The rapidly expanding e-commerce channels around the world have fueled the sales growth for can openers, as these online channels allow customers to make an easy purchase decision from the comfort of their own homes. Furthermore, can openers of various sizes can be shortlisted based on preferences at discounted prices, allowing the online channel to withstand significant growth.
Furthermore, prominent can opener manufacturers' persistent emphasis on supplying stunning designs and modern electric technologies are projected to impact customers' purchases of such items, contributing significantly to market growth.
The COVID-19 crisis had quite a significant impact on the market, resulting in slow growth in demand for can openers. Strict government regulations all around the world have resulted in the closure of marketplaces, which has directly affected the sales growth of can and bottle openers, which were deemed non-essential in the COVID-19 situation.
However, in the post-COVID-19 period, the can opener market is expected to experience optimal growth as markets gradually enter the open phase. As a result of the unprecedented pandemic, consumer goods such as packaged food and tin cans are gaining popularity among those confined to their homes, which is expected to help the market's momentum. The purchase of such items is expected to gradually increase in demand as online shopping has expanded, and brewery retailers are expected to see a foothold in demand for can opener purchases.
The report will cover the following key insights:
The manual can opener segment is estimated to exhibit a dominant share of the global can opener market owing to its repair and maintenance cost compared to its electric counterpart. The manual can openers are simple in their operation without the involvement of any power chord or motor, which effectively eliminates the need for timely maintenance. Moreover, users prefer manual can openers as they are cost-effective for purchase and are easy enough to operate while opening cans and bottle lids. Due to their space-saving and cost-effective purchase, manual can openers are projected to witness leading growth in the segment.
Due to the widespread use of can openers in commercial bars and dining establishments, the commercial segment is expected to hold a substantial share of the global can opener market. Can openers are widely used by breweries and pubs to accommodate a wide range of can sizes and in large quantities, as demand grows. Because of the global expansion of the beverage industry, can openers are becoming increasingly popular, and their share is expected to increase during the forecasted period.
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The North American region is expected to experience robust growth in demand for can openers as a result of the brewery sector's ongoing expansion and a rapid increase in the population's preference for canned foods and alcoholic beverages. According to the Alcohol and Tobacco Tax and Trade Bureau (TTB), there will be 6,406 reporting brewery facilities/locations in the United States in 2020. In 2019, there were 6,400 breweries reported. The presence of the world's leading manufacturers of kitchen essentials, including can openers, is attributed to the region's optimal growth.
The report will include key players such as Hamilton Beach Brands. Inc., Black+Decker Inc., Edlund Company, Inter IKEA Systems B.V., Sammic S.L., Helen of Troy Limited, Guangzhou MAXCOOK Co., Ltd. Kuhn Rikon International, Bradshaw International, and others.
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