The global cutlery market is expected to be worth US$ 10.0 Billion in 2023. Demand in the market is expected to reach US$ 20.3 Billion by 2033, registering an 6.4% CAGR over the forecast period (2023-2033).
The cutlery is utilized to prepare, serve, and eat food. As such, cutlery comes under the homewares segment and its two sub-categories: cooking (for kitchen knives and utensils) and dining (for the flatware).
The increasing preference for fine dining and the growing popularity of casual dining is anticipated to grow in the future and thus boost the cutlery market’s growth. Additionally, there is growing popularity of professional cooking at home which requires specialized cutlery, this is projected to be one of the prominent factors for the growth of the global cutlery market 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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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 – Growth Restraints
The threat to the surroundings on account of inappropriate disposal of plastics is anticipated to come out as the most prominent market restraint. Expensive cutlery set as a result of fluctuating raw material prices is additionally projected to hinder the cutlery market growth throughout the forecast period.
COVID-19 Impact on Cutlery Market
The growing need for disposable cutlery is witnessed amid the COVID-19 pandemic, particularly in the hospitality and healthcare sectors. Pre-COVID-19, sustainability was at the forefront of companies’ policies as they encountered criticism over the ecological impact of single-use or disposable cutlery.
While various researches claim to keep the virus spread via this disposable cutlery instead of sustainable packaging. Healthcare agencies such as WHO also recommending, for now, to utilize them, to prevent spreading the infection. This, in turn, is anticipated to boost the plastic cutlery market.
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.
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.
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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.
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