The commercial cutlery market size is anticipated to rise from USD 12.4 billion in 2023 and it is anticipated to surpass USD 17.1 billion by 2033. The demand for commercial cutlery is expected to increase at a CAGR of 3.3% during the forecast period. Key factors projected to support market growth include:
Long-term, when things start to stabilize, buyers concentrate on acceptable commercial cutlery goods. The industry for commercial cutlery is currently taking into account changing its strategy, rationalizing its product lines, and assessing the sturdiness of its supply chains and network of routes to markets. Given that more people are turning to online purchasing due to the ongoing epidemic, eCommerce and distribution networks need to be streamlined and enhanced.
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To meet consumer demand and boost sales, manufacturing companies are anticipated to attempt to build up their operations as omnichannel businesses. The sales of commercial cutlery are likely to increase with a rise in the hospitality business, as it is a significant user of commercial cutlery, therefore the industry's rebound is anticipated to fuel growth.
Due to the increased penetration of fast-food restaurant brands like Subway, Taco Bell, Pizza Hut, and Domino's, the commercial cutlery market size is anticipated to increase. Fast food has become more popular in modern times since it is prepared, accessible, and delicious. The National Center for Health Statistics reports that youth are more likely to eat fast food, with 36.6% of the population doing so on any given day.
| Attribute | Details |
|---|---|
| Commercial Cutlery Market Value (2023) | USD 12.4 billion |
| Commercial Cutlery Market Forecast Value (2033) | USD 17.1 billion |
| Commercial Cutlery Market CAGR (2023 to 2033) | 3.3% |
| USA Commercial Cutlery Market Share (2023) | 68.0% |
The stainless steel category is anticipated to exhibit the greatest CAGR of 5.7% from 2023 to 2033. Stainless steel is the most prevalent material used to make commercial cutlery. Knives made of stainless steel are long-lasting, simple to maintain, and corrosion-resistant.
They are a fantastic choice for chefs who are conscious of their budget as they are also reasonably priced. It is simple to disinfect stainless steel. In an environment where food is prepared, hygiene is crucial, thus stainless steel also held a considerable share in the global commercial cutlery market.
The spoon product category had the most revenue in 2022 and is anticipated to hold its position as the industry leader for the duration of the market projection. This is attributable to rising health concerns in nations like China and India as well as rising demand for flavored spoons. Additionally, it is anticipated that a rise in flours devoid of artificial chemicals would boost demand for cutlery in the United States.
However, the Fork category is anticipated to see the largest CAGR growth throughout the projection period due to improved design, form, and flavor along with a rise in customer desire for goods created with natural ingredients in nations like Canada.
The adoption of commercial cutlery in upscale restaurants is expanding along with the food service sector. Using commercial cutlery has several benefits, including the following:
In 2023, the USA commercial cutlery market is estimated to account for a 68% share, with a value of USD 3.2 billion. The commercial cutlery business in the United States is developing quickly. This is caused by several things, one of which is the rising popularity of cooking competition shows.
A growing portion of the Indian population has been migrating to nations like Canada and the USA, which has increased demand for commercial cutlery in the region of North America. There are several potentials for growth in the market for commercial cutlery as a result of the trend of opening restaurants, cafés, and small eateries that serve Indians in these nations.
People are getting increasingly eager to experiment at home as they are exposed to a wider variety of foods and cooking methods. As a result, there is now more demand for high-quality cookware and silverware. The increase in disposable money is another aspect fuelling market expansion. People are willing to pay more for longer-lasting, higher-quality goods when their disposable income increases.
With an estimated market value of USD 1.1 billion in 2023, the United Kingdom commercial cutlery market is projected to hold a 22% share of the Europe region. Performance in the commercial cutlery industry in the United Kingdom is uneven. Others have found it difficult to compete with foreign producers, while other British businesses have been able to establish themselves as major suppliers of commercial cutlery.
The manufacturing of personalized cutlery is one industry in which United Kingdom commercial cutlery businesses have seen great success. Due to this, companies have been able to target a certain market and command high prices for their products.
The Japanese commercial cutlery market accounted for 18% of the Asia Pacific market in 2023, with a value of USD 700 million. Japan is one of the top manufacturers of commercial cutlery, contributing a considerable share of the global supply.
Due to its abundant production capacity and inexpensive labor, the nation currently controls a large portion of the industry and provides shops throughout the world with both high-end and budget-friendly alternatives.
Japanese commercial cutlery is often seen as low quality than products from Western nations, however, recent years have witnessed a noticeable increase in the country's workmanship. The nation's position as one of the leading providers of commercial cutlery is set to further strengthen as it continues to expand its production capabilities.
Korea reportedly has become one of the fastest-growing regions in the commercial cutlery business. The demand for commercial cutlery has significantly increased in Korea due to the region's huge population, fast urbanization, and rising consumer disposable income. The market for commercial cutlery in Korea saw a fall as a result of COVID.
However, the market has rebounded, and all commercial cutlery manufacturing and distribution operations are practically back to full capacity. The market is expected to have beneficial effects as a result of the higher pay rates for production workers. The commercial cutlery market in Korea is expected to be primarily driven by the hospitality industry.
To influence customers' decisions and set their products apart from the competition, businesses are concentrating on producing items with distinctive textures, graphics (on-pack marketing), eye-catching colors, and creative concepts.
For sweets, food tasting, hot and cold cuisine, as well as outdoor festivals and events, customers can utilize wooden cutlery. Providers of commercial cutlery solutions might take advantage of this chance by launching new product lines targeted exclusively at consumers who are concerned about the environment.
Furthermore, to boost profitability and strengthen their market position, players in the commercial cutlery sector have made new launches and acquisitions a fundamental part of their growth strategy.
Additionally, players have focused on company growth to maintain their competitiveness in the international market Accordingly, the need for various types of commercial cutleries is likely to increase as nations make increasing expenditures in the development of office buildings, hotels, retail stores, malls, hospitals, and other commercial infrastructure.
A few dominant players in the market for commercial cutlery are:
One of the biggest producers of professional knives in the USA is Dexter-Russell, and many restaurants employ their goods. Another significant participant in the market for industrial cutlery is Victorinox, and many chefs choose their Swiss Army knives.
German Company Wüsthof has been producing high-quality knives for generations, and many chefs adore their offerings. Although several smaller businesses provide high-quality items, these three dominate the market for commercial cutlery.
Recent Developments in the Commercial Cutlery Market
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Oceania; Middle East and Africa (MEA) |
| Key Countries Covered | India, USA, Germany, China, United Kingdom, Japan, Denmark, Canada, Thailand, Malaysia, Mexico, Poland, Turkey, Vietnam, Indonesia, Cambodia, France, Italy, Spain, South Korea, Russia, Australia, Brazil, Argentina, South Africa |
| Key Segments Covered | Material Type, Product, Application, Region |
| Key Companies Profiled | Cambridge Silversmiths; Wüsthof; Messermiester; Royal Doulton; Farberware; Denby Pottery Company Ltd.; Multifunction Tools & Knives; Oneida; Villeroy & Bosch AG; Steelite International; Zwilling JA Henkels; Churchill China Ltd.; Dexter-Russel; Victorinox; Hunting & Survival Knives |
| Report Coverage | DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The commercial cutlery market is estimated to account for USD 12.4 billion in 2023.
The commercial cutlery market is expected to rise at a CAGR of 3.3% from 2023 to 2033.
The high-end restaurant segment dominates the commercial cutlery market in 2023.
The commercial cutlery market is forecasted to surpass USD 17.1 billion by the year 2033.
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