Global Food Service Utensils Markets Overview
The significantly growing tourism industry is further fueling the market growth of food service utensils at a greater extent. Rising per capita expenditure of the developed and developing regions is one of the critical factor that is prevailing the growth of the food service utensils market.
The food service utensils are mainly used for serving food in hotels, cafeteria, and catering services. The food service utensils can be made from numerous materials based on their enduse. The demand for food service utensils is expected to increase in the forecast period owing to increasing numbers of hotels worldwide.
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The trend for parties such as wedding reception, birthday, and corporate is also expected to boost the food service utensils market growth in upcoming years. Prominent companies in the food service utensils market are focused on developing premium food service products primarily for five star and seven star hotels.
Emerging companies are concentrated on gaining recognition in the global market to increase their revenue. The key companies in the food service utensils market are offering different types of utensils for serving various types of food such as jelly server, flat server, fish server, meat server, others. The catering service segment is anticipated to create a lucrative opportunity for the food service utensils market in the forecast period.
Global Food Service Utensils Market Likely to Register an Average Higher-digit CAGR over the Forecast Period
The global market of food service utensils is likely to increase in the forecast period because of its extensive use in hotel and catering services. According to Fact.MR, its market is likely to grow at an average higher-digit CAGR (compound annual growth rate) in the forecast period.
East Asia dominated the global market for food service utensils in 2018. North America and Europe regions are expected to witness a sizable rise in the overall sales of food service utensils. Countries including China, India, England, Russia, and Germany among others are expected to propel the demand for food service utensils over the forecast period.
Prominent companies are significantly exploring various types of materials such as aluminum, wood, stainless steel and plastics for manufacturing food service utensils, thereby boosting the growth of food service utensils market globally.
Food Service Utensil Rental Companies Likely to Create Remunerative Opportunities for Manufacturers
Retail companies are enhancing their footprint in the food service utensils market. Some of the premium food service utensils are costly. Moreover, the catering industry is a seasonal business in some regions.
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Hence, many catering companies prefer to rent the food service utensils from retail companies as per the customer demand. The growing catering business is expected to increase the demand for food service utensils significantly. New entrants in the rental food service utensils market are buying utensils in bulk, to offer the best service possible.
Global Food Service Utensils Market Segmentation
The global food service utensils market can be segmented into type, material type, and end use. By type of the food service utensils, the global market can be categorized into basket, fork, servers, knife, ladle, and others.
By material type, it is categorized into stainless steel, aluminum, plastics, glass, and others. By the end use of food service utensils, its market can be segmented into household, hotels, cafeteria, catering services, and others. The catering services segment is further segmented into wedding service , corporate , cocktail , bento , buffet catering, and others.
The global food service utensils market can be segmented on the basis of the geographical region such as North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa (MEA), and Emerging Countries.
Global Food Service Utensils Market – Key Players
The global market for food service utensils comprises several developers, who are primarily converging on developing advance version of food service utensils markets mainly for ease of catering services.
The companies are engaged in the manufacturing and distribution of food service utensils and are focused on expanding their business footprint by enhancing product portfolio related to the food service utensils markets.
Some key market participants are Miinox Wares, Vollrath Foodservice, American Aluminum Co., Tramontina USA, Inc., Vita Craft Co., Matfer Bourgeat USA, Inc., WRH Industries, Ltd., G.E.T. Enterprises, Inc., Mundial, Inc., Chemco Industries, Inc., Front of the House, Instawares, LLC, Linden Sweden, Inc., Progressus Company Inc., Pfeil & Holing, Inc., Mallet & Company, among other prominent players.
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