The global cutlery market is projected to grow at a CAGR of 3.64% to reach US$ 1,348.07 million by 2027, from US$1,049.865 million in 2020.
Increasing demand from consumers in order to improve their dining experience and kitchen aesthetics bolsters the cutlery market growth.
The changing lifestyle of people and the shift in eating etiquette trends have resulted in consumers purchasing different types of cutleries or a complete set of cutlery. This includes spoons and forks that are suited to specific purposes, such as dessert forks, table forks and tablespoons, teaspoons, and dessert spoons, among others, in order to make their eating experience more aesthetically pleasing and efficient. This is thereby augmenting the market growth.
The rising interest among cooking enthusiasts to try different cuisines and make new dishes is encouraging them to improve their cutlery collection.
The increasing penetration of cooking shows on Cable TV and Video Demand channels have introduced viewers and cooking enthusiasts to different cuisines from different regions globally. They are causing them to try cooking new dishes. However, some of these dishes require special knife sets, including slicing knives, meat knives, vegetables, and fruit knives, among other products, which can carry out the applications efficiently and aesthetically. This factor is thereby leading to an increase in the demand for cutlery and bolster market growth.
Product Offerings by key market players in the cutlery market space
The offering of better and advanced varieties of cutlery with enhanced quality and materials such as stainless steel and Damascus steel, among other properties by existing and new players,is estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
The North American region to hold a considerable share over the forecast period
The North American region is expected to hold a significant share over the forecast period owing to the fact that there are market players involved in catering to the demands of the consumers by offering top-quality cutlery sets and products. In addition, there is an influx of investments for R&D activities to source better raw materials and composition materials to make the cutlery products more effective and efficient.
The increasing popularity and the rising trend of edible cutlery in order to minimize the amount of plastic waste.
The fast-food chains and restaurants provide plastic cutlery for the takeout meals that an increasing number of individuals are purchasing over the past few years, which results in improper disposal of plastic waste and has led to pollution in the environment.
According to the NRDC, the plastic cutlery from the takeout order ends up in the environment polluting the oceans, and around 269,000 tons of plastic is swept to the shores every year and poses dangers to marine life. This has encouraged some individuals and startups, such as Bakeys, which was established in India in 2010, to find a solution to this problem by launching their edible cutlery products in order to stop the pollution caused by plastic.
Therefore, edible cutlery is gaining immense popularity and traction among individuals and making them aware of the hazards of plastic pollution. This factor will also attract a lot of new entrants over the next few years and boost the market share of his segment over the feat period.
Furthermore, initiatives and actions are being taken by governments of the different countries, which are minimizing the use of plastic items, including cutlery, and causing a slight obstruction in the growth of the plastic cutlery segment. For example, in December 2019, the ACT (Australian Capital Territory) Government announced that they have rolled out legislation to phase out single-use plastics to reduce plastic pollution.
According to the legislation, plastic items such as plastic cutlery were banned immediately. In May 2018, The UK Government announced its plan to ban plastic cutlery and plates, whereas France was the first county in the European region to place a ban on plastic cutlery, which was passed in 2016, but will come into effect this year.
Stainless steel cutlery to hold a considerable market share and silverware cutlery to witness significant growth over the forecast period.
Stainless steel cutlery sets are the type of cutlery purchased by the middle-income and lower-income population and, thereby, are expected to hold a considerable market share over the forecast period. On the other hand, the increasing disposable income among the individuals in the high-income economies and middle-income economies is allowing them to spend more a purchase silverware cutlery. This is attributed to the fact that it is regarded as a status symbol in society, which causes a mild increase in demand. Hence, the segment is expected to witness significant growth over the forecast period.
Impact of the COVID-19 pandemic
The COVID-19 pandemic led to the implementation of strict lockdown and social distancing regulations, resulting in the closure of major industries and activities. The decrease in demand for restaurants and eateries during the pandemic led to a decrease in demand for the cutlery market. However, owing to the emergence of e-commerce and food delivery services, the market reported a shift in demand from reusable to single-use cutlery. Moreover, with the withdrawal of COVID-19 protocols restaurant services have reported an increase in demand, which is expected to drive the global cutlery market.
|Market size value in 2019||US$912.886 million|
|Market size value in 2025||US$1,128.037 million|
|Growth Rate||CAGR of 3.59% from 2019 to 2025|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Price Range, Material, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BökerBaumwerk GmbH Solingen, Carl Schmidt Sohn GmbH, Kyocera International, Inc., BergHOFF, Ergo Chef, Stanley Rogers, Fiskars Group, W.Wright, KitchenAid, ZWILLING|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the cutlery market size by 2025?
A1. The global cutlery market is projected to reach a total market size of US$1,128.037 million in 2025.
Q2. What are the growth prospects for the cutlery market?
A2. The cutlery market is projected to grow at a CAGR of 3.59% during the forecast.
Q3. What is the size of the global cutlery market?
A3. The global cutlery market was valued at US$912.886 million in 2019.
Q4. Which region holds the largest market share in the cutlery market?
A4. The North American region to hold a considerable share over the forecast period.
Q5. Which segment is driving the global cutlery market growth?
A5. Stainless steel cutlery to hold a considerable market share and silverware cutlery to witness significant growth over the forecast period.
BökerBaumwerk GmbH Solingen
Carl Schmidt Sohn GmbH
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