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The global cutlery market is projected to witness a compound annual growth rate of 2.12% to grow to US$8.826 billion by 2028 from US$7.622 billion in 2021.

The global cutlery market is projected to witness a compound annual growth rate of 2.12% to grow to US$8.826 billion by 2028 from US$7.622 billion in 2021.” - Knowledge Sourcing IntelligenceNOIDA, UTTAR PRADESH, INDIA, October 9, 2023 /EINPresswire / -- According to a new study published by Knowledge Sourcing Intelligence, the global cutlery market is projected to grow at a CAGR of 2.12% between 2021 and 2028 to reach US$8.826 billion by 2028.

The market is expected to thrive due to factors such as the rising number of food service restaurants and the growth of hotels, cafes, and other food service establishments are driving the demand for high-quality cutlery products to enhance the dining experience for their customers. Additionally, advancements in technology have simplified production processes, contributing to the overall growth of the global cutlery market. Moreover, increased consumer demand for improved dining experiences and enhanced kitchen aesthetics is further fueling the growth of the cutlery market.

Cutlery encompasses a range of cutting tools and utensils designed for various applications, including industrial, commercial, and domestic uses. In the context of household use, cutlery primarily refers to flatware utensils such as knives, spoons, forks, and other specialized implements. These utensils are essential for both dining and serving food in domestic settings.

The global cutlery market is significantly influenced by, the growth of fine-dining restaurants and rising per capita income in developing countries contributing to the global cutlery market's expansion. Additionally, the use of innovative materials like carbon fiber , synthetic fibers, ceramics, and titanium alloys is driving demand for advanced cutlery products. For instance, in April 2022, Sabert Corporation introduced a recyclable paper cutlery range made from FSCTM-certified paper, further promoting sustainability. According to OEC World, the top importers of precious metal-plated cutlery sets in 2021 were France, Germany, the United Kingdom, the United States, and Ireland, with significant imports. The rise of e-commerce and the popularity of culinary shows on TV and video-on-demand networks are also contributing to the global cutlery market's growth by introducing consumers to various cuisines and cutlery options from around the world, such as the widespread use of chopsticks initially from Japan. This globalization of cutlery is driving the upward trajectory of the global cutlery market.

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Based on the product type, the global cutlery market is classified into forks, spoons, and knives. The knives category dominated the market due to the global population growth, resulting in increased demand for knives. Knives are a staple in nearly every household's kitchen, and their demand is expected to rise alongside the expanding number of households.

Based on the price range, the global cutlery market is segmented into low-end, medium-range, and premium. The medium-range segment commands a significant share of the market driven by the rising disposable income among individuals in both high-income and middle-income economies enabling increased spending on purchases.

By material, the global cutlery market is categorized into Stainless Steel, Plastic, Sliver, and Others. Stainless steel utensils are anticipated to maintain a significant market presence in the forecasted period, primarily due to their popularity among middle and lower-income demographics.

Segmented by distribution channels, the global cutlery market is categorized into online and offline segments. The offline segment held a significant share of the market due to factors such as the growing dine-out culture, rising number of food services , expansion of restaurant chains, increased preference for dining out, and rising demand from households, all contributing to the positive growth of the cutlery market.

Geographically, the global cutlery market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The North American region, particularly the United States, is poised to maintain a substantial market share in the cutlery industry throughout the forecast period. This growth is driven by the rising consumer demand for edible cutlery, reflecting increased environmental consciousness. People are shifting towards decomposable and edible cutlery options as part of their commitment to sustainability. Additionally, government initiatives and ongoing product developments within the country are contributing to the market's expansion.

As a part of the report, the major players operating in the global cutlery market, that have been covered are, Böker Baumwerk GmbH Solingen, Carl Schmidt Sohn GmbH, Kyocera Corporation, BergHOFF, Ergo Chef, Stanley Rogers, Fiskars Group, W.Wright, KitchenAid, and ZWILLING among other significant market players.

The market analytics report segments the global cutlery market on the following basis:

.By Product Type

oForks
.Table Fork
.Dessert Fork
. Others

oSpoons
.Teaspoon
.Tablespoon
.Dessert
.Others

oKnives
.Bread Knife
.Meat Knife
.Dessert Knife
.Others

.By Price Range

oLow- End
oMedium Range
oPremium

.By Materials

oStainless Steel
oPlastic
oSliver
oOthers

.By Distribution

oOnline
oOffline

.By Geography

oNorth America

.United States
.Canada
.Mexico

oSouth America

.Brazil
.Argentina
.Others

oEurope

.United Kingdom
.Germany
.France
.Spain
.Others

oMiddle East and Africa

.Saudi Arabia
.UAE
.Israel
.Others

oAsia Pacific

.Japan
.China
.India
.South Korea
.Indonesia
.Thailand
.Others

Companies Profiled:

.Böker Baumwerk GmbH Solingen
.Carl Schmidt Sohn GmbH
.Kyocera Corporation
.BergHOFF
.Ergo Chef
.Stanley Rogers
.Fiskars Group
W
.KitchenAid
.ZWILLING

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698

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