(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, July 12, 2023 (GLOBE NEWSWIRE) -- The global wooden cutlery market is anticipated to reach a valuation of US$ 193.2 million in 2023, driven by an increasing preference for sustainable products. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.8% between 2023 and 2033, and reaching a total valuation of approximately US$ 308.8 million by 2033.
One of the primary factors contributing to the growth of the wooden cutlery market is the rise in the food service industry, including restaurants, cafes, and catering services, which can be attributed to its sustainable and aesthetic appeal, which enhances the overall dining experience. Food service establishments are embracing wooden cutlery as it aligns with their sustainability initiatives and meets the expectations of environmentally conscious customers.
Another significant factor contributing to market growth is the growing awareness regarding health and safety. Wooden cutlery is generally considered safe and hygienic for use in the food industry. It is free from harmful chemicals such as BPA (bisphenol A), unlike plastic utensils. The demand for wooden cutlery as a safe and healthy option is expected to increase, as consumers become more aware of the potential health risks associated with certain materials. This factor is driving the adoption of wooden cutlery in various food-related applications.
Drivers and challenges have an impact on market dynamics, which can impact bus inesses. Find more insights in your sample report:
There is a global trend towards embracing natural and organic products in different aspects of life, including dining. Wooden cutlery fits well with this trend by offering a natural and chemical-free alternative to conventional cutlery materials. Consumers are increasingly drawn to wooden cutlery due to its organic and sustainable attributes, thus fueling market growth.
Key Takeaways from this Market Study :
The global wooden cutlery market was valued at US$ 184.4 million by 2022-end. From 2018 to 2022, the market demand expanded at a CAGR of 2.2%. The United States is expected to hold a dominant CAGR of 4.7% during the forecast period. By product, the spoons segment is expected to constitute a CAGR of 4.7% in 2033. On the basis of end-use, the food service outlets segment is expected to dominate the market with a CAGR of 5.0% in 2033. From 2023 to 2033, the wooden cutlery market is expected to flourish at a CAGR of 4.8%. By 2033, the market value of wooden cutlery is expected to reach US$ 308.8 million.
“Government regulations and initiatives, across the globe is a major factor that is expected to propel the growth of the wooden cutlery market in the near future,” - remarks an analyst at FMI.
Competitive Landscape :
Prominent players in the wooden cutlery market are Huhtamaki Group Oyj, Eco-gecko Products Inc., Dinearth Eco-Friendly Tableware, Greenwood (Dalian) Industrial Co., Ltd., Bambu LLC, Vegware Ltd., Biotrem, Bio Futura B.V., Ecoware Biodegradables Inc., Ecoriti, Vrag Fils Airlaid Pvt. Ltd., Natural Tableware, Packnwood (First Pack), Pavrex Wooden Products, and Pappco Greenware, among others.
Recent Developments :
In 2022, Packnwood developed a new line of disposable wooden cutlery with enhanced strength and stability. The cutlery featured improved designs and construction to withstand various food textures and preparation methods, ensuring a reliable dining experience. In 2021, Eco-gecko Products Inc. launched a range of compostable wooden cutlery sets for catering and events. The sets included forks, knives, and spoons made from sustainably sourced wood and were designed to enhance the dining experience while minimizing environmental impact. In 2021, Bambu LLC launched a line of reusable wooden cutlery sets, aiming to promote sustainability and reduce single-use plastic waste. The cutlery sets were made from durable bamboo and came in convenient travel pouches, encouraging eco-friendly practices on the go.
Want your report customized? Speak to our analyst and personalize your report a s per your business needs:
More Valuable Insights Available :
Future Market Insights offers an unbiased analysis of the global wooden cutlery market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the wooden cutlery market, the market is segmented on the basis of product (spoon, fork, and knife), by end-user (food service outlets, institutional, and household use), by sales (direct sales, distributors, retailers, and e-retail), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Key Segments Profiled in th is Market :
By Product:
By End User:
Food Service Outlets Hotels Restaurants & Cafes QSR
Institutional Cinemas Catering School & Offices Hospitals
Household Use
By Sales Channel:
Direct Sales Distributors Retailers Hypermarkets Supermarkets Convenience Stores Specialty Store Discount Stores
E-retail
By Region:
North America Latin America Western Europe Eastern Europe South Asia and the Pacific East Asia Middle East and Africa
Grow your profit margin s – Buy this report now at a discounted price:
Table of Content (ToC):
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
About the Packaging Division at Future Market Insights (FMI):
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Explore Trending Reports of Packaging
disposable cutlery market demand : Disposable cutlery items are witnessing huge demand in food service outlets and institutional food services. The cutlery items are manufactured and designed in such a manner that they fit according to the style of the occasion. The institutional organizations generally conducted afternoon parties, where disposable cutlery items are highly preferred due to their small size and sturdy nature.
commercial cutlery market analysis : Long-term, when things start to stabilize, buyers concentrate on acceptable commercial cutlery goods. The industry for commercial cutlery is currently taking into account changing its strategy, rationalizing its product lines, and assessing the sturdiness of its supply chains and network of routes to markets. Given that more people are turning to online purchasing due to the ongoing epidemic, eCommerce and distribution networks need to be streamlined and enhanced.
plastic cutlery market growth : The plastic cutlery market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfil the demand for plastic cutlery making it more accessible to customers in the global plastic cutlery market.
bio-based cutlery market share : The increasing number of food joints and restaurants in developing countries, such as India and China is expected to propel the Asia Pacific bio-based cutlery market share in the assessment period. The expansion of the online food delivery industry in these countries is also set to contribute to the growth.
plastic cutlery market sales : Plastic cutlery is a one-time-use, throwaway item. Restaurants that carry meals to customers' homes, planes, and events, as well as camping and catering businesses and fast-food restaurants, employ them frequently. Boosting sales of plastic cutlery is due to being inexpensive, handy, and long-lasting for holding any food. Manufacturers are aided by the widespread availability of raw materials resulting in the sales of plastic cutlery.
biodegradable cutlery market outlook : Biodegradable product sales are expected to increase as customers are preferring to buy sustainable products. Biodegradable Cutlery is in demand due to its convenience and biodegradable aspect. They are easily available and can be used on various occasions.
bagasse tableware products market volume : Demand remains particularly high for bagasse plates in the market and the trend is expected to continue through 2032. The target segment held a share of about 35.0% in 2022 within the global bagasse tableware products industry.
tableware market trends : Tableware such as cutlery, glassware, serving dishes, containers, spoons and forks, and various other accessories are extensively used for practical and decorative purposes. Cultural diversity, the number of diners, diverse food chains, etc. can all influence the quality of tableware. Knives and cutting implements, forks, spoons, and other silverware items make up the majority of tableware.
biodegradable disposable tableware market size : Promotion of brands on the web stores can allow the manufacturers to provide detailed information about the products. Customers have various requirements and giving information such as material types, size and shape of various products helps them take faster decisions for the purchase. e-Retail channels also attract new customers. With a strong online presence and optimized search engines, biodegradable tableware manufacturers can expand their customer reach.
eco-friendly paper plates market value : Rising demand for eco-friendly packaging products, increasing consumer awareness about the environment, and government restrictions over the use of single-use plastic products are estimated to bolster sales of eco-friendly paper plates during the forecast period. The market is anticipated to grow 1.5x the current market value during 2022-2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
linkedin | twitter | blogs | youtube
For Sales Enquiries:
Old Source: wooden cutlery market is expected to grow at a CAGR of 5% during the forecast period 2019 to 2029 – Future Market Insights
Tags wooden cutlery market wooden cutlery market size wooden cutlery market trends wooden cutlery industry Related Links protective packaging market dual ovenable lidding films market security bags market zipper pouch market cosmetic tubes market pharmaceutical vials market high barrier packaging films for pharmaceuticals market compostable plastic packaging material market water soluble pods packaging market medication pouch inspection systems market agriculture packaging market multihead weighers market sack fillers market packaging additives market snap-on closures market vending cups market floating covers market bulk chemical packaging market box and carton overwrap films market box and carton overwrapping machines market