By 2023, The Consumption Of Stainless Steel Cutlery and Kitchenware Is To Be 1.61 Billion Pieces
Stainless steel tableware and kitchenware are widely used in daily life due to high performance and affordable prices. China is a major production area relying on abundant raw material resources and cheap labor costs. In addition, it is an important OEM area in the world. According to research, up to 80% of stainless steel tableware and kitchenware are exported from China to other countries. In the future, this phenomenon will increase.
There are many suppliers all over the world, because the production technology is mature. The world's leading suppliers include SEB, ZWILLING, Fissler, WMF, Newell, Cuisinart, Vinod, MEYER, ASD, Linkfair, crown Hua, Anotech and so on.
The consumption area of stainless steel tableware and kitchenware is related to people's eating habits. Chinese tend to use wooden or plastic chopsticks and ceramic tableware. In the region, it is mainly consumed in Europe and North America. In 2016, consumption in Europe was about 407 million with a consumption share of 34.4%. North America accounts for 18.08% of the world's total consumption.
Over the past five years, with the growth of industry and economy, the global sales of tableware and kitchenware has increased from $20 billion in 2012 to $24 billion in 2016, with a composite annual growth rate of 4.58%.
In the future, global consumption will continue to grow. It is estimated that by 2023, global consumption will be 1 billion 613 million 770 thousand, with sales revenue of US $33 billion. Besides, Asia has great potential in tableware and kitchenware industry.