Cutlery is mainly used as a tableware to facilitate eating. Different materials are used to manufacture cutlery. Traditionally, cutlery was made up of silver in recognition of anti-bacterial properties. However, the silver-based kitchenware was expensive, hence the affordability was a major challenge. In most of the developing economies, cutlery is still perceived as a utility product, hence pricing plays an important role in the market.
The global cutlery market is likely to cross $11 billion, growing at a CAGR of 6.7% during 2016−2022. Growing popularity of casual dining and increasing marketing activities are likely to attribute to the global market growth.
The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.
Cutlery Market: Key Vendor Analysis
The report profiles the leading vendors and provides a complete value chain analysis of the market. Major strength, strategies, and opportunities of the main companies are discussed in the report. The report also enlists major product offerings of companies involved in the market. The major vendors are BergHoff, John Boos, Picnic time, Melange Home. Other prominent vendors are Picnic at Ascot, Chicago Cutlery, Big Tree Furniture, Ginsu, French Home, Henckels, Hampton Forge, KitchenAid, Safavieh, and Kyocera.
Cutlery Market Dynamics
Growing use of edible cutlery is the major trend
Increasing interest to prepare different cuisines and special gourmet dishes at home, gaining popularity of concept of social dining and fine dining concept, and growing popularity of casual dining are likely to drive the global cutlery market growth. Further, growing number of households across geographies will influence aggregated demand for the products.
Increasing use of edible cutlery is one of the major trends that the market is expected to witness during the forecast period. Expected growth in the number of single-person households, usage of advanced materials in cutlery, increased focus on omni-channel presence are the latest trends that are expected to shape the global market growth.
Cutlery Market: Segmental Analysis
Metal-based and low-end segments are major segments of the market
The metal-based segment accounts for the major contributor to the global cutlery market. The market in the non-metal category is dominated by plastic. The increasing disposable income in the developing countries is increasing the demand for stainless steel-based products or advanced materials such as ceramic-based cutlery.
The demand for low-end cutlery is increasing at a faster rate. The segment caters to the mass market and is generally made up of low-quality stainless steel or plastic. The percentage contribution of the low-end segment is higher in developing economies such as APAC, Latin America, and MEA than developed economies of North America and the European region.
Cutlery Market: Geographical Analysis
Western Europe to emerge as the largest market
The report provides the market size and forecast for the main regions that are APAC, Eastern Europe, MEA, and North America. The market in regions such as APAC, China, Latin America, and MEA is still focused on the mass market rather than niche markets. While the market in Western Europe is getting saturated, the market in Eastern Europe is gaining momentum with increase in disposable income, the demand for high-end kitchen products. China in the APAC region is one of the dominating regions in the global market. The region accounts for a majority of the market share. However, countries such as India and other Southeast Asia are also projecting the demand for the products. In North America, the major demand will come from the US due to growing number of households.