Stainless Steel Flatware Market Analysis & Forecast 2022, 2028

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Stainless Steel Flatware Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Spoons, Forks, Knives, Serving Utensils, and Others) and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others)

Publication Month: Oct 2022 | Report Code: TIPRE00029733 | No. of Pages: 137 | Category: Consumer Goods | Status: Published

The stainless steel flatware market was valued US$ 14,299.83 million in 2022 , it is estimated to grow at a CAGR of 6.5% from 2022 to 2028. 

The global stainless steel flatware market is growing due to increased concerns about the health of consumers and the surged preference for aesthetic flatware to grace the dining table. Moreover, numerous consumers are looking for affordability and durability of the products. Stainless steel flatware has been gaining popularity due to the cost-effectiveness of the product. Moreover, during COVID 19 pandemic, there was an increase in the purchase of stainless steel flatware in through online distribution platforms owing to restrictions and the shutdown of retail shops. In addition, the growing penetration of unique cuisines and the use of specialized flatware coupled with the influence of western culinary styles are boosting the market growth.

The stainless steel flatware market is driven by changing lifestyles and increasing disposable income. Since the COVID-19 pandemic, the emerging home cooking trend, backed by the increased interest in cooking enthusiasts, is likely to boost the demand for stainless steel flatware. The growing preference for fine and casual dining coupled with professional cooking at home drives the market growth. In addition, the increasing number of food bloggers and influencers further spurs the demand for different flatware suitable for different food items.

In 2021, Asia Pacific held the largest revenue share of the global stainless steel flatware market, whereas the market in North America is expected to grow at the highest rate over the forecast period. The North America stainless steel flatware market is segmented into the US, Canada, and Mexico. The market is mainly driven by factors such as the increasing demand for smooth and modern shapes and styles paired with distressed finish flatware, evolving home decor and aesthetics trends, and surging trend of creating the ambience for several celebrations or events by using heritage or vintage collections of flatware.

Strategic Insights

Report Coverage - Stainless Steel Flatware Market
Report CoverageDetails
Market Size Value inUS$ 14,299.83 Million in 2022
Market Size Value byUS$ 20,920.77 Million by 2028
Growth rateCAGR of 6.5% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages137
No. of Tables59
No. of Charts & Figures77
Historical data availableYes
Segments coveredProduct, and Distribution Channel
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Stainless Steel Flatware Market

Many businesses recovered from the adverse effects of COVID-19 pandemic as governments of various countries eased the lockdown restrictions. The introduction of the COVID-19 vaccine further eased the situation, leading to a rise in business activities across the world. The resumption of operations in the manufacturing units propelled the stainless steel flatware market and has led to the stainless steel flatware production recovery. Manufacturers overcame the demand and supply gap as they were permitted to operate at full capacity. The reopening of specialty stores is another factor that led to the stability of stainless steel flatware sales.

Stainless Steel Flatware Market Breakdown: by Region, 2021

Stainless Steel Flatware Market Breakdown: by Region, 2021

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Market Insights

Generally, stainless steel is composed of iron, carbon, chromium, nickel, and other trace elements such as magnesium and titanium. The high nickel content increases the corrosion resistance of stainless steel. Stainless steel is rust-free and easy to clean and sterilize. It does not contaminate food and maintains the color and taste of food. Also, it has a low bacterial retention capacity, making it an ideal material for manufacturing flatware. Thus, the numerous benefits of stainless steel flatware drive the market growth.

Material Insights

Based on distribution channel, the specialty stores segment held the largest share in 2021. However, the online retail segment is expected to register the highest CAGR over the forecast period. Rising internet and smartphone penetration has boosted the e-commerce industry. People are increasingly purchasing various products using online retail channels due to heavy discounts, availability of multiple brands under one roof, and home delivery services. Moreover, availability of detailed product descriptions, customer reviews and ratings, and video tutorials on these platforms help consumers choose desired products. These factors are driving the sales of stainless steel flatware through online retail.

Stainless Steel Flatware Market, by Product– 2021 and 2028

Stainless Steel Flatware Market, by Product– 2021 and 2028

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Oneida; ZWILLING J.A. Henckels AG; Winco; Sabre; Christofle Silver, Inc.; RiverRidge Home; Tramontina USA Inc.; Wilkens & Söhne GmbH; Eternum S.A.; and Mepra S.p.A. are among the players operating in the stainless steel flatware market. These companies provide a wide range of product portfolios for the market. The companies have their presence in developing regions, providing lucrative market opportunities. Market players are developing high-quality, innovative products to meet customer requirements.

Report Spotlights

  • Progressive industry trends in the stainless steel flatware market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the stainless steel flatware market size from 2020 to 2028
  • Estimation of global demand for stainless steel flatware
  • PEST analysis to illustrate the political, economic, social, and technological trends in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook and factors driving and restraining the growth of the stainless steel flatware market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The size of the stainless steel flatware market at various nodes
  • Detailed overview and segmentation of the market, as well as the stainless steel flatware industry dynamics
  • Stainless steel flatware market size in various regions with promising growth opportunities

The "Global Stainless Steel Flatware Market Forecast to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global stainless steel flatware market trend analysis. The report aims to provide an overview of the market with detailed market segmentation.

The stainless steel flatware market is segmented on the basis of product type, distribution channel, and geography. Based on product, the market is segmented into spoons, forks, knives, serving utensils, and others. Based on distribution channel, the global stainless steel flatware market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America.

Company Profiles

Oneida; ZWILLING J.A. Henckels AG; Winco; Sabre; Christofle Silver, Inc.; RiverRidge Home; Tramontina USA Inc.; Wilkens & Söhne GmbH; Eternum S.A.; and Mepra S.p.A. are among the prominent players operating in the global stainless steel flatware market.

Frequently Asked Questions

The major players operating in the global stainless steel flatware market are Oneida; ZWILLING J.A. Henckels AG; Winco; SABRE; Mepra S.p.A. among others
The rise in product launches with attractive coatings, including metallic finish, mirror finish and matte finish, is expected to provide lucrative growth opportunities to the global stainless steel flatware market over the forecast period.
Based on the product, the forks segment accounted for the largest revenue share. The stainless steel forks stay rust-free, require low maintenance and complements with different dining setups. These are the few reasons driving the segment growth.
In 2021, Asia Pacific accounted for the largest share of the global stainless steel flatware market due to the increasing consumer preference for professional cooking at home and increased establishment of new restaurants, hotels and cafes.
Based on distribution channel, online retail is the fastest-growing segment. The impeding e-commerce industry along with development of online shopping websites, is driving the segment’s growth. Moreover, a shift towards online retail segment is observed due to the distinct benefits such as quick service, home delivery, easy access and many more.
Rising preference for dining at home due to COVID-19 pandemic and the properties of stainless steel flatware such as sleek design, corrosion resistance, affordability and durability, are some of the key driving factors for the stainless steel flatware market.

The List of Companies - Stainless Steel Flatware Market

  1. Oneida    
  2. ZWILLING J.A. Henckels AG             
  3. Winco      
  4. SABRE      
  5. Christofle Silver, Inc.          
  6. RiverRidge             
  7. Tramontina USA Inc.          
  8. Wilkens & Söhne GmbH    
  9. Eternum S.A.         
  10. Mepra S.p.A.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global stainless steel flatware market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global stainless steel flatware market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the stainless steel flatware market as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TIPRE00029733
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