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Cutlery market Overviews
Cutlery Market Regional Insights
The cutlery market is poised for strong growth, fueled by shifting consumer preferences, sustainability trends, tech innovations, and the foodservice industry.
NEWARK, DE, UNITED STATES, January 28, 2025 /EINPresswire / -- The global cutlery market is likely to register substantial growth as the market size is estimated at USD 10.0 billion in 2023, and expected to double up to USD 20.3 billion by 2033, growing at a CAGR of 6.4% during the forecast period.
The cutlery market has been witnessing rapid growth in recent years, influenced by the transformations of consumer preference, technological changes, and the emerging demand for sustainable materials, indicates a new study by Future Market Insights (FMI). Following a moderate 3.2% CAGR from 2018-2022, the market is expected to rise with significant forces in the coming decade.
Factors Driving Growth
Changing Consumer Preferences: Consumers are increasingly on the lookout for high-quality, functional, and esthetic cutlery. This nudges manufacturers to invest in research and development to meet changing requirements regarding innovative designs and features.
Foodservice Industry Expansion: The demand for premium cutlery is driven by the growth of the global foodservice sector, such as restaurants, cafes, and hotels. Since dining experiences continue to grow in popularity, manufacturers focus on producing products that cater to the needs of the foodservice industry.
Technological Advancements: Advanced materials and production techniques, as used in the making of heat-resistant, dishwasher-safe, and antimicrobial cutlery, help improve the durability and functionality of such products. It contributes to consumer demands for products that will survive everyday wear and tear.
Sustainability Trends: With the growing number of eco-conscious consumers, the demand for biodegradable and compostable cutlery alternatives is increasing. The use of bamboo, wood, and biodegradable plastics is becoming increasingly popular. This focus on sustainability has become a driving force for the market's growth.
E-Commerce Growth: E-Commerce is helping consumers gain easier access to online shopping opportunities and purchase their preferred cutlery products more easily. Such has increased sales within the markets. Manufacturers can boost their websites as a significant opportunity for consumers in growing demands.
Emerging Trends in the Cutlery Market
The hybrid and disposable products in the cutlery market are also increasing, which combine several utensils into one tool. Examples include sporks (spoon/fork), spifes (spoon/knife), and knorks (knife/fork), which are increasingly popular in casual dining and made from eco-friendly, biodegradable materials.
Challenges Faced by the Cutlery Market
The cutlery market faces several challenges, including:
Environmental Impact: Plastic cutlery waste leads to pollution and hence the necessity for eco-friendly alternatives.
Rising Raw Material Costs: Prices for materials such as stainless steel and environmentally friendly materials fluctuate, making the cost of production increase.
Market Competition: Continuous innovation in design, functionality, and sustainability is necessary for competing with manufacturers in intense competition.
Consumer Education: This is an issue of educating the consumers about the benefits of the eco-friendly cutlery option and overcoming their resistance to change.
Global Supply Chain Disruptions: Issues with transportation and shortages of materials within the global supply chain can affect production lead times and cost.
Regional Insights
North America: The North American market is expected to hold the largest share during the forecast period. The region's growing demand for sustainable materials, coupled with evolving consumer preferences and technological advancements, is driving market growth.
Asia Pacific: The Asia Pacific market is witnessing rapid growth, spurred by the expanding foodservice industry, increasing online shopping trends, and a shift towards sustainable materials.
Key Companies Profiled
Cambridge Silversmiths, Crate and Barrel, Farberware, J.A. Henckels, Kate spade, Oneida, Towle, Wallace, WMF, Multifunction Tools & Knives, Hunting & Survival Knives, Zwilling JA Henkels, Wusthof, Shun, Myabi, F. Dick, Victorinox/Forschner, Shun, Messermiester, MAC, Mcusta.
Dive Deeper into the Data-View the Full Report Here!
Cutlery Market - Market Segmentation
By Product Type
.Plastic
.Stainless Steel
.Silver
.Gold
By Distribution Channel
.Online
.Offline
By Application
.Household
.Public Consumption Restaurant
.High-end Restaurant
Regions and Countries Analyzed in the Report
.North America (USA, Canada)
.Latin America (Mexico, Brazil, Rest of LATAM)
.Europe (Germany, United Kingdom, France, Italy, Spain, Poland, Russia, Rest of Europe)
.East Asia (China, Japan, South Korea)
.South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
.Oceania (Australia, New Zealand)
.Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Author
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the 'Global Icon in Business Consulting' at the ET Inspiring Leaders Awards 2022.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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