USD 3.91 billion
Knife Market Size, Share, Growth Analysis, By Delivery(Web-based (On-demand), Licensed Enterprise (On-premises), Cloud-based (SaaS)), By Product(Software, Services), By Deployment(Enterprise-wide CTMS, On-Site CTMS), By End User(Large Pharma-biotech Companies, Small & Mid-sized Pharma-biotech Companies, Medical Device Manufacturers, Contract Research Organization (CROs)), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30K2037 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
127
|Figures:
77
Knife Market Insights
Knife Market size was valued at USD 4.30 billion in 2022 and is poised to grow from USD 4.54 billion in 2023 to USD 7.27 billion by 2031, growing at a CAGR of 6.18% in the forecast period (2024-2031).
The global knife market has seen tremendous growth in recent years, driven primarily by the increasing demand for high-quality knives in the food and hospitality industry. Professional chefs and home cooks alike are looking for knives that are not only sharp but also durable and easy to use. The rise of cooking shows and food blogs has also contributed to the growth of the market, as consumers are more interested in experimenting with different cuisines and techniques. This has led to a surge in demand for specialized knives such as chef's knives, paring knives, and bread knives. Another factor driving the growth of the global knife market is the growing trend of outdoor activities such as camping, hiking, and hunting. Knives are a versatile tool that can be used for a variety of tasks such as cutting rope, preparing food, and building a shelter. This has led to an increased demand for multi-purpose knives that can be used in outdoor settings. As a result, manufacturers are now offering knives specifically designed for outdoor activities, with features such as serrated edges, saw blades, and ergonomic handles. The availability of knives in different shapes, sizes, and materials has also contributed to the growth of the market. Consumers can now choose from a wide range of knives made from different materials such as stainless steel, ceramic, and carbon steel. Knives are also available in different shapes and sizes, making them suitable for a variety of tasks. This has led to a rise in demand for knives not only in the food and hospitality industry but also in other sectors such as construction, fishing, and hunting.
Overall, the global knife market is expected to continue its growth trajectory in the coming years, driven by the increasing demand for high-quality knives in various sectors. Manufacturers are likely to continue innovating and offering knives with new features and materials, further expanding the market. The availability of knives in different shapes, sizes, and materials will continue to be a key factor driving the growth of the market, as consumers seek out knives that meet their specific needs and preferences.
US Knife Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial
Fastest Growth
Commercial
Growth Rate
6.18% CAGR
Global Knife Market 2022-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Knife Market Segmental Analysis
Global Knife Market is segmented by Delivery, Product, Deployment, End User, and region. Based on Delivery, the market can be segmented into Web-based (On-demand), Licensed Enterprise (On-premises), Cloud-based (SaaS). Based on Product, the market can be segmented into Software, Services. Based on Deployment, the market can be segmented into Enterprise-wide CTMS, On-Site CTMS. Based on End User, the market is segmented into Large Pharma-biotech Companies, Small & Mid-sized Pharma-biotech Companies, Medical Device Manufacturers, Contract Research Organization (CROs), Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Knife Market Analysis by End-User
The commercial segment is the dominant segment in the global knife market, accounting for a significant portion of the overall market share. This is due to the high demand for knives from the restaurant and hospitality industry, which relies heavily on high-quality knives for food preparation. Professional chefs require knives that are sharp, durable, and comfortable to use, and this has led to a rise in demand for specialized knives such as chef's knives, boning knives, and bread knives.
The commercial segment also includes other sectors such as food processing and catering, which require a large volume of knives to meet their operational needs. As the demand for processed food continues to rise, the food processing industry is expected to fuel the growth of the commercial knife market. The growing trend of home cooking and the increasing popularity of cooking shows has also led to a rise in demand for high-quality knives, further contributing to the growth of the commercial segment. Overall, the commercial segment is expected to continue dominating the global knife market in the coming years due to the high demand from the restaurant and hospitality industry.
Global Knife Market By End Use, 2021 (%)
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Knife Market Regional Insights
North America and Europe are the two largest markets for knives, accounting for a significant portion of the overall market share. These regions are characterized by a high demand for high-quality knives in the food and hospitality industry, as well as a growing trend of outdoor activities such as camping and hiking. The availability of knives in different shapes, sizes, and materials has also contributed to the growth of the market in these regions. In addition, the increasing popularity of cooking shows and food blogs has fueled the demand for specialized knives in these regions.
The Asia Pacific region is the fastest-growing market for knives, driven primarily by the high demand from the food and hospitality industry in countries such as China and Japan. The region is characterized by a large population and a growing middle class, which has led to a rise in demand for high-quality knives. In addition, the growing trend of home cooking and the increasing popularity of western cuisine in the region has led to a surge in demand for specialized knives such as chef's knives and bread knives.
Latin America and the Middle East & Africa regions are also experiencing significant growth in the knife market, driven primarily by the increasing demand for knives in the food and hospitality industry. The regions are characterized by a growing tourism industry, which has led to a rise in demand for high-quality knives in the hospitality sector. In addition, the growing trend of outdoor activities such as camping and hiking has contributed to the growth of the market in these regions. The availability of knives in different shapes, sizes, and materials has also led to a surge in demand for knives in these regions.
Global Knife Market By Geography, 2022-2030
- Largest
- Fastest
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Knife Market Dynamics
Knife Market Drivers
- One of the key drivers of the market is the increasing demand for high-quality knives in the food and hospitality industry. The rise in the number of restaurants, hotels, and cafes has led to a surge in demand for specialized knives, such as chef's knives, which are essential for food preparation. The growing trend of home cooking and the popularity of cooking shows have also fueled the demand for high-quality knives, as consumers seek to replicate the dishes they see on television.
- Another driver of the market is the increasing popularity of outdoor activities such as camping and hiking, which has led to a rise in demand for knives as a multi-purpose tool. Knives are essential for outdoor activities, such as cutting rope, preparing food, and building shelters. As a result, manufacturers are focusing on producing knives that are durable and versatile, which can be used in a variety of outdoor activities.
- The availability of knives in different shapes, sizes, and materials is also contributing to the growth of the market. Consumers are seeking out knives that meet their specific needs and preferences, which has led to a rise in demand for specialized knives such as fillet knives, carving knives, and utility knives. Manufacturers are focusing on producing knives that are not only functional but also aesthetically pleasing, which has led to a surge in demand for knives made from high-quality materials such as Damascus steel and carbon steel. Overall, these drivers are expected to continue fueling the growth of the global knife market in the coming years.
Knife Market Restraints
- One of the key restraints of the market is the availability of low-cost knives that are flooding the market. These knives are often of inferior quality and do not meet the required safety standards, which can pose a risk to users. The availability of low-cost knives is also leading to a price war among manufacturers, which is affecting the profit margins of established players in the market.
- Another restraint of the market is the increasing concerns around safety and regulations. Governments around the world are implementing stricter regulations to ensure the safety of consumers, which could lead to additional costs for manufacturers. For example, the Food and Drug Administration (FDA) in the United States has set specific guidelines for the production of knives in order to ensure that they meet certain safety standards. These regulations could make it more difficult for small and medium-sized manufacturers to enter the market, which could limit the growth of the market. Overall, these restraints will need to be addressed in order to ensure the sustained growth of the global knife market.
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Knife Market Competitive Landscape
The global knives market is highly competitive, with numerous players vying for market share. Some of the key players in the market include Zwilling J.A. Henckels, Wüsthof, Victorinox, and Global Knives. These companies have a strong brand presence and are known for their high-quality products, which has helped them to establish a loyal customer base.
In addition to these established players, there are several smaller manufacturers and emerging players in the market who are seeking to capture market share by offering innovative products at competitive prices. These companies are leveraging end use and social media platforms to reach a wider audience and increase their visibility in the market. Another trend in the competitive landscape is the rise of private label knives. Retailers and supermarkets are launching their own private label knives to cater to price-sensitive consumers. These knives are often produced by third-party manufacturers and sold under the retailer's brand name. The growing popularity of private label knives is posing a challenge to established players in the market, who are struggling to compete on price. One example of a retailer that has launched its own private label knives is Walmart. The company has introduced a line of kitchen knives under its Mainstays brand, which are sold at a lower price point than comparable knives from established manufacturers. These knives are manufactured by a third-party manufacturer, but are sold under the Mainstays brand name.
Knife Market Top Player’s Company Profiles
- Zwilling J.A. Henckels (Germany)
- Global Knives (Japan)
- Shun Cutlery (Japan)
- MAC Knives (Japan)
- Tojiro (Japan)
- Dexter-Russell (US)
- Mercer Culinary (US)
- Columbia Cutlery (US)
- Cutco (US)
- KAI Group (Japan)
- Fiskars Corporation (Finland)
- Havalon Knives (US)
- Morakniv (Sweden)
- Gerber Gear (US)
- Benchmade Knife Company (US)
- Buck Knives (US)
- Cold Steel (US)
Knife Market Recent Developments
- In February 2022, Klein Tools recently announced a partnership with Trade Hounds, a leading network for professional and skilled tradespeople in the United States. This partnership reflects Klein Tools' commitment to attracting, celebrating, and providing resources to skilled trade workers. Through the partnership, Klein Tools will offer educational and promotional content to the Trade Hounds community, including access to exclusive events and product offerings.
- In November 2021, Crescent Tools has recently redesigned its Crescent Wiss Camo Tradesman Shears and Crescent Camo Pocket Knife, two cutting tools that are ideal for outdoor activities such as camping, hunting, fishing, and boating. The revamped tools feature a camouflage design and are made of high-quality materials for durability and precision cutting. The Crescent Wiss Camo Tradesman Shears are designed to cut through tough materials, while the Crescent Camo Pocket Knife is a versatile cutting tool that can be used for a variety of tasks.
- In June 2021, Peak Spec has launched an innovative multipurpose pocketknife that is both sleek and functional. The foldable pocket knife is designed for hardcore cutting tasks in the woods, but its elegant design also makes it a stylish addition to one's ensemble. The knife features a durable blade and a comfortable grip, making it easy to use for a variety of outdoor activities. With its sleek and stylish design, the Peak Spec multipurpose pocketknife is the perfect accessory for anyone who loves spending time outdoors.
Knife Key Market Trends
- One of the major trends is the increasing demand for multipurpose knives that can be used for a variety of tasks. Consumers are looking for knives that are versatile and can be used for both indoor and outdoor activities, such as cooking, camping, and hiking. As a result, manufacturers are developing knives with a range of features, such as serrated edges, ergonomic handles, and folding mechanisms, to meet the needs of consumers.
- Another trend in the global knife market is the use of new and innovative materials in knife manufacturing. Manufacturers are experimenting with materials such as ceramic, titanium, and carbon fiber to create knives that are stronger, lighter, and more durable. These materials offer several advantages over traditional materials such as steel, including corrosion resistance, antimicrobial properties, and easy maintenance. In addition, manufacturers are also focusing on sustainability and eco-friendliness, with some companies using recycled materials and environmentally friendly production processes.
- Furthermore, the increasing popularity of custom-made knives. Consumers are looking for knives that are unique and personalized to their specific needs and preferences. As a result, some manufacturers are offering custom knife-making services, allowing consumers to choose the blade shape, handle material, and other features of their knives. This trend is driven by the growing interest in handmade and artisanal products, as consumers seek to connect with the makers and the stories behind their products. Custom-made knives also offer a higher level of quality and craftsmanship, appealing to consumers who are willing to pay a premium for a one-of-a-kind product.
Knife Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the global knife market has seen significant growth in recent years, driven by the increasing demand for high-quality and multipurpose knives. The rise in popularity of cooking shows and food blogs has further fuelled the demand for knives as an essential kitchen tool, while the trend of outdoor activities such as camping and hiking has increased the demand for knives as a multi-purpose tool. The market is highly competitive, with established players and new entrants offering a wide range of knives in different shapes, sizes, and materials. While the market is driven by several factors, including product innovation and increasing consumer preferences for customized and eco-friendly products, it also faces challenges such as price competition from private label knives and regulatory hurdles related to the production and sale of knives in certain regions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.30 billion |
| Market size value in 2031 | USD 7.27 billion |
| Growth Rate | 6.18% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Knife Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Knife Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Knife Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Knife Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Knife Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Knife Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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