Cutlery Market Overview
The cutlery market has experienced moderate growth in recent years, but is expected to witness significant growth over the coming years. Preferences of consumers and other end users have been turning towards mass market products, which have shown significant reduction in consumer demand for premium materials. Cutlery, made from stainless steel and wood, has experienced significant increase in sales in recent years. The cutlery market size is expected to grow 1.8X by 2030 in comparison with the value in 2020.
Cutlery Market Drivers
With positive integration of digital platforms into the restaurant industry, there has been a significant surge in the demand for cutlery products such as spoons and forks. Food delivery businesses provide disposable cutlery with each order to their customers, which has created a massive opportunity for manufacturers in the cutlery market. While governmental regulations have been deterrents for current growth, sustainable alternatives available in the market and increased adoption of reusable cutlery in the food service industry are expected to drive market growth.
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Regional Outlook of Cutlery Market
Europe has the second-largest cutlery market share, and high imports from developing countries is one of the key characteristics of the region. The Europe cutlery market is expected to experience moderate growth, with increasing bans on single-use products prevalent in the European Union. Germany is on the forefront of these bans, and in June 2020, declared a ban on single-use cutlery such as plates, straws, and cups by mid-2021.
Growth of the cutlery market in the Asia Pacific region is expected to be higher than North America and Europe, which is expected to expand 2X by 2030 over the value in 2020.
Cutlery Market: Competitive Analysis
The global cutlery market is fragmented in nature, with top players accounting for nearly 30% of global revenue. High fragmentation and high concentration of regional players is one of the key characteristics of the cutlery market. The market is expected to move towards consolidation over the coming years. Emerging players with sustainable materials such as reusable and edible cutlery are expected to increase competition in the lower tiers of the cutlery market.
- For instance in 2020, Akvila Cutlery launched a reusable cutlery line made from renewable PP polymers. Similar new product launches are expected in the cutlery market, which are expected to rejuvenate the product life cycle of cutlery types.
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COVID-19 Impact on Cutlery Market
The COVID-19 crisis is having a positive impact on the growth of the cutlery market. While dampening sales during initial lockdowns across multiple countries was observed, the cutlery market has experienced recovery after the initial shock.
Decline in demand during the second quarter of 2020 due to sporadic lockdowns was recovered, with recovery during the third quarter due to easement of regulations and resuming of food delivery services. Opening of the food service industry related to dining and cafes is expected to further increase demand for cutlery as time goes by.
The Analyst’s Viewpoint
“Institutional food services are expected to experience 1.9X growth over the forecast period. Fact.MR recommends investments in collaborations with institutional food services to grab lucrative opportunities in the long term.”
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Cutlery Market: Scope of the Report
The cutlery market report by Fact.MR offers forecast representation for the period of 2020 to 2030. The report elaborates on key drivers, restraints, opportunities, and threats influencing the expansion of the cutlery market. A detailed segmental analysis, based on product, end use, sales channel, and region has been provided in the report. The report also covers a chapter on the COVID-19 impact to arm stakeholders with necessary information.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the cutlery market. In addition, a section providing detailed analysis of key cutlery market players and strategies has been added to the study.
Cutlery Market: Segmentation
Fact.MR has studied the cutlery market with detailed segmentation on the basis of product, end-use, sales channel, and region.
- Soup Spoons
- Food Service Outlets
- Institutional Food Service
- Residential Usage
- Other End Uses
- Direct Sales
- Modern Trade
- Specialty Stores
- Online Retail
- Other Sales Channels
- North America
- Latin America
- East Asia
- South Asia and Oceania
Cutlery Market – Report Scope
A recent study by Fact.MR on the cutlery market offers a 10-year forecast from 2020 to 2030. The study analyzes crucial trends that are currently determining the growth of the cutlery market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of cutlery. The study also provides dynamics that are expected to influence the future status of the cutlery market over the forecast period.
A detailed assessment of value chain analysis, business executions, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the cutlery market enhances the reliability of this comprehensive research study.
Cutlery Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the cutlery market across the globe.
A comprehensive estimate on the cutlery market has also been considered through an optimistic scenario as well as a conservative scenario regarding the sales of cutlery during the forecast period. Price point comparison by region with global average price is also considered in the study.
Cutlery Market: Analysis on Market Size Evaluation
The study provides each market segment in terms of value (US$ Mn) analysis in the cutlery market.
Market estimates at global and regional levels for cutlery are available in terms of “US$ Mn” for value and “Mn Units” in terms of volume. A Y-o-Y growth contrast on prominent cutlery market segments, along with market attractiveness evaluation has been incorporated in the report. Another key feature of the cutlery market report is the analysis of all key segments in terms of absolute dollar. Absolute dollar opportunity is critical in assessing the level of opportunity that a manufacturer can look to achieve as well as identify potential resources, from sales and delivery perspectives, in the cutlery market.
Cutlery Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which help deliver projections on regional markets. This chapter include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the cutlery market during the forecast period.
Country-specific valuations on demand for cutlery have been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of prominence in regions and countries. Regional market Y-o-Y growth estimates have also incorporated in the report.
Detail breakup in terms of value for emerging countries has also been included in the report.
Cutlery Market: In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers in the cutlery market, along with their detailed profiles. Essential and up-to-date data related to market players who are principally engaged in the production of cutlery has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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