Stainless Steel Flatware Market to See Profit with an increasing CAGR Value of 6.5% Till 2028
Stainless steel flatware is a type of cutlery made from a steel alloy that contains chromium, nickel, and other elements. The presence of these elements gives stainless steel its unique properties, including resistance to corrosion, rust, and staining. This makes stainless steel flatware a popular choice for both casual and formal dining settings.
Stainless steel flatware comes in a range of designs and finishes, from sleek and modern to traditional and ornate. The weight and thickness of the flatware can also vary, with heavier and thicker pieces generally considered to be of higher quality.
Stainless steel flatware is often sold in sets, which typically include a combination of knives, forks, spoons, and sometimes teaspoons or dessert spoons. Some sets may also include serving pieces such as a serving fork, serving spoon, and butter knife.
When choosing stainless steel flatware, it is important to consider factors such as the design, weight, and thickness of the pieces, as well as the intended use and frequency of use. Additionally, care should be taken to properly clean and store the flatware in order to maintain its appearance and longevity.
The global stainless steel flatware market size is expected to reach US$ 20,920.77 million by 2028, registering at a CAGR of 6.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
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 key players operating in the global stainless steel flatware market. These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides lucrative opportunities for the market to serve a large set of customers and increase the market share. The market players are highly focused on developing products with advanced technology platforms to serve their customers better.
Preference for freshly home-cooked meals has increased as people have become health conscious. In recent years, the trend of house parties and dinners has grown massively, especially during the COVID-19 pandemic. Also, hygiene-conscious people prefer home cooking and at-home dining over dining out amid the pandemic.
According to a survey by Grocer in November 2020, one out of five people in the UK spent their time on improving their culinary skills during the pandemic, and 40% of the surveyed audience confirmed that they enjoyed cooking at home. Further, food delivery and takeaway services witnessed high growth during the pandemic due to the restrictions on dine-in operations in restaurants due to social distancing norms. According to the report by CGA Tracker, combined sales of food delivery and takeaway services in the UK increased by 130% in September 2020 from 2019. Stainless steel flatware is affordable, attractive, and durable.
Attractive stainless steel flatware with sleek designs and finish can enhance the dining experience at home. Therefore, owing to the rising preference for at-home dining, the demand for modern and eye-catching stainless steel flatware is increasing across the world.
Based on product type, the global stainless steel flatware market is segmented into spoons, forks, knives, serving utensils, and others. In 2021, forks segment accounted for the largest market share and is expected to register the highest CAGR over the forecast period. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2021, the specialty stores segment accounted for the largest revenue share. However, the online retail segment is expected to register the highest CAGR over the forecast period.
By geography, the stainless steel flatware market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The Europe stainless steel flatware market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is subsegmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The stainless steel flatware market in South & Central America is subsegmented into Brazil, Argentina, and the Rest of South & Central America.
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https://www.theinsightpartners.com/reports/stainless-steel-flatware-marketStainless Steel Flatware Market to See Profit with an increasing CAGR Value of 6.5% Till 2028
Stainless steel flatware is a type of cutlery made from a steel alloy that contains chromium, nickel, and other elements. The presence of these elements gives stainless steel its unique properties, including resistance to corrosion, rust, and staining. This makes stainless steel flatware a popular choice for both casual and formal dining settings.
Stainless steel flatware comes in a range of designs and finishes, from sleek and modern to traditional and ornate. The weight and thickness of the flatware can also vary, with heavier and thicker pieces generally considered to be of higher quality.
Stainless steel flatware is often sold in sets, which typically include a combination of knives, forks, spoons, and sometimes teaspoons or dessert spoons. Some sets may also include serving pieces such as a serving fork, serving spoon, and butter knife.
When choosing stainless steel flatware, it is important to consider factors such as the design, weight, and thickness of the pieces, as well as the intended use and frequency of use. Additionally, care should be taken to properly clean and store the flatware in order to maintain its appearance and longevity.
The global stainless steel flatware market size is expected to reach US$ 20,920.77 million by 2028, registering at a CAGR of 6.5% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
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 key players operating in the global stainless steel flatware market. These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides lucrative opportunities for the market to serve a large set of customers and increase the market share. The market players are highly focused on developing products with advanced technology platforms to serve their customers better.
Preference for freshly home-cooked meals has increased as people have become health conscious. In recent years, the trend of house parties and dinners has grown massively, especially during the COVID-19 pandemic. Also, hygiene-conscious people prefer home cooking and at-home dining over dining out amid the pandemic.
According to a survey by Grocer in November 2020, one out of five people in the UK spent their time on improving their culinary skills during the pandemic, and 40% of the surveyed audience confirmed that they enjoyed cooking at home. Further, food delivery and takeaway services witnessed high growth during the pandemic due to the restrictions on dine-in operations in restaurants due to social distancing norms. According to the report by CGA Tracker, combined sales of food delivery and takeaway services in the UK increased by 130% in September 2020 from 2019. Stainless steel flatware is affordable, attractive, and durable.
Attractive stainless steel flatware with sleek designs and finish can enhance the dining experience at home. Therefore, owing to the rising preference for at-home dining, the demand for modern and eye-catching stainless steel flatware is increasing across the world.
Based on product type, the global stainless steel flatware market is segmented into spoons, forks, knives, serving utensils, and others. In 2021, forks segment accounted for the largest market share and is expected to register the highest CAGR over the forecast period. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2021, the specialty stores segment accounted for the largest revenue share. However, the online retail segment is expected to register the highest CAGR over the forecast period.
By geography, the stainless steel flatware market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The Europe stainless steel flatware market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is subsegmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The stainless steel flatware market in South & Central America is subsegmented into Brazil, Argentina, and the Rest of South & Central America.
Read More: https://www.theinsightpartners.com/reports/stainless-steel-flatware-market
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