The global cutlery market is projected to reach a value of US$ 10.0 billion in 2023 and is expected to nearly double to US$ 20.3 billion by 2033, registering a CAGR of 6.4% over the forecast period. From 2018 to 2022, the market experienced steady growth with a CAGR of 3.2%. Key factors such as shifting consumer preferences, technological advancements, and the growing demand for sustainable materials are anticipated to drive market expansion in the coming years.
According to Future Market Insights, a market research and competitive intelligence firm, the increasing demand for high-quality, functional, and aesthetically pleasing cutlery is shaping the industry’s future. Manufacturers are investing heavily in R&D to deliver innovative designs that align with evolving consumer tastes.
The foodservice industry plays a pivotal role in the cutlery market’s growth. Restaurants, cafes, hotels, and catering services increasingly seek premium cutlery to enhance the dining experience, prompting manufacturers to meet the growing demand with high-end products.
Technological advancements are another critical growth driver. Modern cutlery production utilizes advanced materials and techniques to create durable, heat-resistant, and dishwasher-safe products that cater to consumers’ needs for convenience and longevity. Features like antimicrobial coatings further elevate product appeal.
The shift toward eco-friendly and sustainable materials is also fueling market growth. As consumers become more environmentally conscious, demand for biodegradable and compostable cutlery made from bamboo, wood, or biodegradable plastics has surged. Manufacturers are responding by incorporating these materials into their product lines, appealing to eco-conscious buyers.
The rise of e-commerce is expected to further boost the market, as online shopping makes it more convenient for consumers to purchase cutlery products. In response, manufacturers are investing in digital platforms to expand their reach and increase sales.
Regional Insights:
North America is expected to hold the largest market share during the forecast period, driven by changing consumer preferences, technological advancements, and a strong demand for sustainable products. Meanwhile, the Asia Pacific region is witnessing rapid growth, primarily due to the expansion of the foodservice industry, the increasing popularity of online shopping, and a growing trend toward sustainable materials.
Recent Industry Developments:
Several manufacturers are leveraging mergers, acquisitions, and product launches to create new opportunities:
- Cutco Corporation launched a premium cutlery line in 2021, featuring advanced materials for enhanced performance and durability.
- Shun Cutlery introduced the Higo series, a traditional Japanese-inspired line designed for outdoor activities.
- Global Knives collaborated with knife maker Mino Tsuchida to launch the Mino Tsuchida collection, featuring a unique hammered blade finish.
- J.A. Henckels International released the Modernist series, showcasing sleek designs made from high-quality German stainless steel.
View Full Report: https://www.futuremarketinsights.com/reports/cutlery-market
Key Market Trends:
- Casual and social dining: Increased urbanization, along with consumers’ demand for instant gratification and multitasking, has led to a rise in casual dining, boosting the demand for hybrid and disposable cutlery.
- Sustainability focus: Disposable hybrid cutlery made from eco-friendly materials like bamboo and starch is gaining popularity. Companies like Amaji in Vietnam are capitalizing on these trends by producing sustainable wooden cutlery and bamboo straws.
- Innovative opportunities: The concept of edible cutlery is gaining traction, reducing plastic waste while opening up new market possibilities. Additionally, trends like brand loyalty, handmade craftsmanship, and personalized products are creating further prospects for growth.
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)
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
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 a 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.
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 ~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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