Sales of Cutlery Market to Cross US$ 10 Bn by 2030

The cutlery market is anticipated to reach a valuation of over US$ 10 billion by 2030, with the growth rate pegged at over 6% from 2020 to 2030. The market has seen multiple changes in recent years, with increasing bans on single-use plastic cutlery. The trend of bans is highly evident in countries such as the United States, Canada and Germany, among others. These bans related to the cutlery market have led to changing preferences of OEM suppliers and commercial end users such as HoReCa. The market is expected to experience fluctuations in demand during the short term, but innovations by manufacturers are expected to reset the lifecycle of multiple products in the cutlery market space.

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Key Trends of Cutlery Market

• North America accounted for a share of nearly 30% in the global cutlery market in 2019. High preference of food delivery and dependence of consumers on external food services have created huge demand for disposable cutlery in the region.
• The market in South Asia and Oceania is expected to portray the highest growth rate over the forecast period, and grow 2.1X by 2030 over the value in 2020.
• Based on end use, institutional food services are expected to experience highest growth during the forecast period.
• In terms of product, spoons are expected to witness moderate growth during the forecast period in the cutlery market.
• In terms of sales channel, the direct sales segment accounts for a higher share in the cutlery market, and is expected to grow 1.8X by 2030.
• The COVID-19 crisis has been slightly detrimental in the early stages to the growth of the cutlery market. However, the market is expected to experience a positive effect hereafter.

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Cutlery Market: Segmentation

Fact.MR has studied the cutlery market with detailed segmentation on the basis of product, end-use, sales channel, and region.

Product

• Spoons
• Soup Spoons
• Forks
• Knives
• Sporks
• Chopsticks
• Straws
• Stirrers
• Others

End Use

• Food Service Outlets
• HoReCa
• Institutional Food Service
• Residential Usage
• Other End Uses

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Companies Banking on Brand Presence in Cutlery Market

Players in the cutlery market have been banking on their established distribution channels and brand presence in their domestic markets. Companies have been increasing their investments in third-party e-Commerce channels in recent years. They have also been collaborating with brick and mortar channels and partnering with companies such as Bath & Body Works, Heineken, Newell, and Walmart, among others, to increase their presence in the cutlery market space.

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