The global cutlery market is poised for significant growth, with an expected market value of USD 10.0 billion in 2023, set to expand to USD 20.3 billion by 2033. This growth is projected to occur at a CAGR of 6.4% during the forecast period from 2023 to 2033, according to a new market research report from Future Market Insights, a leading provider of market research and competitive intelligence.
This growth is primarily fueled by several key factors, including changing consumer preferences, advancements in technology, and the increasing popularity of sustainable materials. The report outlines how these trends, coupled with the expansion of the foodservice industry and the rise of online shopping, will contribute to the strong upward trajectory of the cutlery market in the coming decade.
Key Market Drivers
- Changing Consumer Preferences: Consumers are becoming more discerning when it comes to cutlery, demanding products that are not only functional but also aesthetically pleasing. High-quality, durable, and innovative designs are at the forefront of this shift, prompting manufacturers to invest heavily in research and development.
- Technological Advancements: The cutlery industry is seeing a wave of innovation with new materials and production techniques. From heat-resistant, dishwasher-safe, and antimicrobial properties to enhanced durability, these technological upgrades are driving demand for premium, high-performance cutlery.
- Sustainability and Eco-Friendly Materials: As environmental concerns around plastic waste continue to rise, consumers are gravitating toward more sustainable alternatives. Manufacturers are responding to this demand by producing cutlery made from biodegradable, compostable, and renewable materials such as bamboo, wood, and biodegradable plastics.
- Growth of the Foodservice Industry: The increasing demand for dining experiences, fueled by the growth of restaurants, hotels, and cafes, is driving a need for premium, durable cutlery products. The foodservice sector is expected to be a key player in boosting market demand in the forecast period.
- E-commerce Growth: The rise of online shopping offers consumers greater convenience in purchasing cutlery products. This trend has led manufacturers to expand their presence in e-commerce, providing a seamless online shopping experience that is anticipated to boost sales.
Trends Shaping the Future of the Cutlery Market
- Hybrid and Disposable Cutlery: The demand for hybrid utensils like sporks, spifes, and knorks is rising, driven by the increasing popularity of casual dining and social dining trends. These multi-functional tools are also gaining traction due to their eco-friendly properties, with manufacturers increasingly opting for biodegradable materials like starch, bamboo, and recycled plastics.
- Edible Cutlery: Innovative concepts like edible cutlery, made from food-grade materials, are emerging as a promising solution to the plastic waste problem. The development of edible utensils could significantly reduce environmental pollution caused by single-use plastics.
Key Players
- 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
- Global
- Shun
- Messermiester
- MAC
- Mcusta
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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)
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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