Global cutlery sales are expected reach US$ 10 Bn by 2031, experiencing nearly 2x growth compared to 2021. While Fact.MR still expects the cutlery market to grow slightly, however, the overall five-year compound annual growth rate (CAGR) remains positive at 6.3%.
Market expansion is expected to be driven by increasing demand for organic, sustainable products derived from wheat stalks and other edible materials. Growing demand for cutlery in the kitchen and dining room raises the need for innovative and fashionable cutleries in the market.
Key Takeaways from the Market Study
- Online sales channels to account for 50% of global cutlery distribution platforms
- Demand from food services outlets is poised to be valued at an expansion rate of 6% CAGR
- By product, spoons to remain top selling category, accounting for 3 out of 5 sales
- U.S to register high sales, expected to grow at a CAGR of 5% through 2031
- Europe to emerge as an opportunistic market, capturing a market share exceeding 33%
- Asia to emerge as a highly profitable market, with India and China spearheading demand
“With single-use cutlery becoming more and more adaptable to natural and food waste, biodegradable cutlery will be increasingly sought after in the near future,” says a Fact.MR analyst.
Competitive Landscape
Strategic collaborations and innovations have increased revenue and market share. The development of new products and technologies will reduce the amount of plastic that is disposed of in nature.
- On June 4th, 2021, Lenox Corporation, a leading supplier of tabletop, home entertaining products, and giftware announced the acquisition of Oneida Consumer LLC. Oneida Consumer LLC agreed to acquire all of its existing tabletop products including dinnerware, flatware, and cutlery.
- The recent acquisition of Hampton Forge and Oneida tabletop products has resulted in Lenox having a diversified portfolio throughout its total retail channels that are recognized by consumers.
- BioFase has created a novel solution to replace plastic cutlery with avocado pits. Compared to conventional plastics, avocado pit cutlery contains only 40% synthetic organic compounds, reducing our pollution from plastic by 60%.
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Key Companies Profiled :
- Farberware
- J.A. Henckels
- Kate spade
- Oneida
- Towle
- Wallace
- WMF
- Multifunction Tools and Knives
- Hunting and Survival Knives
- Zwilling JA Henkels
- Wusthof
- Shun
- Myabi
Key Segments Covered
- Product
- Spoons
- Soup Spoons
- Forks
- Knives
- Sporks
- Chopsticks
- Straws
- Stirrers
- Other Cutlery
- End Use
- Cutlery for Food Service Outlets
- Cutlery for HoReCa
- Cutlery for Institutional Food Services
- Cutlery for Residential Usage
- Cutlery for Other End Uses
- Sales Channel
- Cutlery through Direct Sales
- Cutlery through Modern Trade
- Cutlery through Specialty Stores
- Cutlery through Online Retail
- Cutlery through Other Sales Channels
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Questionnaire answered in the Cutlery Market report include:
- How the market for Cutlery has grown?
- What is the present and future outlook of the global Cutlery on the basis of region?
- What are the challenges and opportunities for the Cutlery?
- Why the consumption of Cutlery highest in region?
- In which year segment is expected to overtake segment?
What makes Fact.MR report stand out from others?
- MR follows a six-point mechanism known as E.V.O.L.V.E. (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.). The report is specially created to assess the COVID-19 impact on the Cutlery market. This mechanism focuses on almost all the factors in a definite manner to provide the best research report for the market stakeholders.
- Evaluate: A Fact.MR report evaluates every small aspect that can prove to be a growth generator for the Cutlery market, thus, making it different and special from other reports.
- Visualize: The authors involved in the research activities visualized the post-COVID-19 era so that the key stakeholders of market get an overview and helps them take certain steps to ensure continuous growth during the forecast period.
- Overcome: The report scrutinizes on points that can prove to be an Achilles heel to the Cutlery market and assists to create strategies to overcome the obstacles that may hinder the growth of the Cutlery market.
- Leverage: The Cutlery market can leverage certain aspects that can prove beneficial for the increase in growth rate. Fact.MR covers all the points on which the key stakeholders can leverage upon.
- Verify: Research is done systematically to assure validation of all the aspects covered in the report. All the points are rechecked and verified thoroughly to avoid flaws and fake information.
- Eradicate: Last but not the least, this aspect helps the key stakeholder eradicate all the obstacles that come between the growth rate and the Cutlery market.
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