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

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

The stainless steel flatware market in Asia Pacific is expected to grow from US$ 5,849.30 million in 2022 to US$ 8,625.28 million by 2028. It is estimated to grow at a CAGR of 6.7% from 2022 to 2028.

Elevating Penetration of E-Commerce

The sales of furniture and home furnishing products, including kitchenware and flatware, increasing substantially because of the easy access to e-commerce platforms due to the increasing penetration of smartphones and the internet, rising purchasing power of consumers, and convenient shopping experience provided by online retail platforms are among the key factors driving the sales of stainless steel flatware through e-commerce platforms. People increasingly prefer online retail platforms to buy stainless steel flatware owing to the availability of various products of different brands at affordable prices, detailed product descriptions, consumer ratings and reviews, and home delivery services. During COVID-19 outbreak, individuals were restricted to stay at home, which increased their inclination toward online shopping. With the rising penetration of e-commerce across different geographies, stainless steel flatware manufacturers are enhancing their online presence by selling their products through well-known e-commerce platforms, such as Amazon.com, Lidl, and Walmart. Therefore, all these factors are expected to boost the stainless steel flatware market growth in the coming years.

Market Overview

The Asia Pacific stainless steel flatware market is segmented into China, India, Australia, Japan, South Korea, and the rest of Asia Pacific. The market witnessed rapid growth due to the affordability and sustainability of stainless steel flatware, the increasing consumer preference for professional cooking at home, the rising use of specialized cutlery, the changing lifestyles of consumers, and increased expenditure on luxury flatware. In countries such as India, Malaysia, Indonesia, and China, the demand for stainless steel flatware has been rising due to the increased establishment of new hotels, restaurants, and cafes owing to the growing tourism industry and consumers’ interest in exploring different cuisines. Also, the consumers' increasing demand for traditional flatware, including slim or pointed, designer handles and oblong or rounded heads, and remarkable finishes of flatware are boosting the market growth in the region. Moreover, the rising popularity of stainless steel flatware owing to its sustainability, is contributing to the growth of the Asia Pacific stainless steel flatware market growth. In addition, the young population is extensively adopting western culture and cuisines; they are using different flatware for various purposes. As a result, the demand for different purposed flatware for multiple applications has boosted the market growth.

Asia Pacific Stainless Steel Flatware Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Stainless Steel Flatware Market Segmentation

The Asia Pacific stainless steel flatware market is segmented into product and distribution channel.

Based on product, the market is segmented into spoons, forks, knives, serving utensils, and others . The spoons segment registered the largest market share in 2022. Based on distribution channel, the market is categorized into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment held the largest market share in 2022. Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. China dominated the market share in 2022.

ZWILLING J.A. Henckels AG; SABRE; Christofle Silver, Inc.; Tramontina USA Inc.; Eternum S.A.; and Mepra S.P.A are the leading companies operating in the stainless steel flatware market in the region.

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