In 2023, the global Cutlery market is expected to witness a market value of US$ 10.0 Billion and is expected to accumulate a market value of US$ 20.3 Billion by registering a CAGR of 6.4% in the forecast period 2023 to 2033.
One of the primary factors contributing to the growth of the cutlery market is changing consumer preferences. Consumers are becoming more aware of the importance of high-quality, functional, and aesthetically pleasing cutlery.
As a result, manufacturers are investing in research and development to create innovative designs and features that meet consumers’ demands.
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Amaji , Vietnam has successfully tapped into these trends and manufactures wooden cutlery and bamboo straws inspired by nature. The company takes accountability for protecting the surroundings and has set goals to only manufacture and sell sustainable and eco-friendly products.
Several other opportunities exist in the cutlery market such as edible cutlery, which could be consumed like regular food will open new avenues in the market. With edible cutlery, the threat of pollution due to the plastic cutlery disposal is also minimized. Other trends in the cutlery market that tends to offer prospects include brand loyalty, handmade products, and individualization.
Cutlery Market – Region-wise Analysis
Imports of cutlery in the European region are significant and growing. With manufacturing in Europe shifting to Asian nations, mainly to Vietnam and China, European cutlery imports from emerging nations are very prominent. This had secured the future market growth of cutlery throughout the forecast period.
Cutlery Market – Key Trends
Changing eating propensities, such as casual dining and social dining are majorly impacting the cutlery usage. Increased urbanization, the modern consumer’s requirement for instant gratification, zeal not to miss out on anything, being online 24/7 and multi-tasking has caused the growth of casual dining.
It also fuels the demand for hybrid and disposable cutlery, joining the functionality of multiple eating utensils, for instance, the spife (spoon/knife), spork (spoon/fork), knork (knife/fork) and the sporf that combines all three. Moreover, due to the sustainability trend, the disposable hybrid cutlery is prepared for eco-friendly, biodegradable, natural, or recycled material. This generates prospects for manufacturing cutlery made of starch or bamboo, for instance.
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Asian nations are anticipated to come out as the fastest expanding market. This is because of increased acceptance of cutlery in nations such as China, which accounts for prominent market share in the region. North America is anticipated to follow Europe on the basis of market share.
Cutlery Market – Competitive Analysis
- John Boos & Co.
- BergHOFF
- Picnic Time, Inc.
- KYOCERA International, Inc.
- Melange
- Picnic at Ascot
- Big Tree Furniture & Industries, Inc.
- Ginsu
- WorldKitchen LLC
- Zwilling J.A. Hampton Forge
- Henckels
- Safavieh LLC
- KitchenAid.
The cutlery market is marked by the existence of a huge number of both large and small firms. The sector is additionally marked by the rise in R&D concerning the processes and materials.
Anchor Packaging Inc. launched Culinary Classics, a novel product line for disposable cutlery, which incorporates redesigned products that are available with a hinged and perforated lid. This product line is reusable and recyclable. Mede Cutlery Company produces edible cutlery in attractive colors as well as new flavors of purple potato, corn, and sesame.
Key Segmentations
By Product Type:
- Plastic
- Stainless Steel
- Silver
- Gold
By Distribution Channel:
- Online
- Offline
By Application:
- Household
- Public Consumption Restaurant
- High-end Restaurant
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
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