Portland, OR, Nov. 04, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global edible cutlery market generated $27.2 million in 2019, and is projected to garner $56.9 million by 2026, witnessing a CAGR of 11.1% from 2019 to 2026.The report provides an extensive analysis of drivers & opportunities, top winning strategies, key segments, value chain, and competitive landscape.
Rise in utilization in the airlines industry and advent of different flavors- and colors-based cutlery propel the growth of the global edible cutlery market. However, expensive nature of this type cutlery hinders the market growth. On the other hand, supportive government initiativesfor minimization of carbon footprints are estimated to open up new opportunities in the coming years.
In-depth analysis of the COVID-19 impact on the Edible Cutlery Market@ https://www.alliedmarketresearch.com/request-for-customization/6383?reqfor=covid
Covid-19 Scenario:
- Owing to lockdown imposed by governments across the world, hotels, restaurants, supermarkets, and online channels stopped their day-to-day operations. This resulted in a significant decline in demand for edible cutlery.
- The production activities have been stopped due to closedown of production facilities,scarcity of raw materials, and disruption in supply chain.
- As lockdown has been lifted off, the demand would grow steadily as hotels, retail stores, and online platform began their operations.
The report offers a detailed segmentation of the global edible cutlery market based on product, raw material, application, and region.
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Based on product, the spoon segment accounted for the highest market share in 2019, contributing to more than one-third of total marketshare, and will maintain its dominant position throughout the forecast period. However, the spork segment is projected to grow at the highest CAGR of 13.2% from 2019 to 2026.
Based on application, the household segment is projected to portray the fastest CAGR of 12.3% from 2019 to 2026.However, the commercial segment accounted for the highest share in 2019, holding more than four-fifths of the global edible cutlery market, and will continue to dominate during the forecast period.
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Regionally, North America contributed to the highest market share in 2019, accounting for more than two-fifths of the total market, and will maintain its leadership status by 2026. However, Asia-Pacific is expected to witness the fastest CAGR of 12.7% during the forecast period.
Key players of the global edible cutlery market analyzed in the research include GreenGood, Nature House Green, Better Earth, Green Home, BioGreenChoice, Biodegradable Food Service, Vegware, Karat, Biogreenchoice, and Edibles by Jack.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.