Knife Market, By Product Type (Retractable Knife, Fixed Knife, Snap-off Knife, Safety Knife, Folding Knife, Specialty Knife, Carpet Knife, Hobby Knife, and Others), By Distribution Channel (Home Center & Hardware, Mass Retail, E-commerce, and Others), and By Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Oct 2023

Code : CMI3304

Pages :134

Formats :

Excel and PDF

Industry : Consumer Goods

Market Challenges And Opportunities

Global Knife Market- Drivers

Availability of an array of knives at low costs: vailability of an array of knifes at low costs can drive the global knife market growth. Different types of kitchen knives include the chef’s knife that has blade size between 6 and 14 inches, paring knife that is commonly used for chopping fruits and vegetables; utility knives that have blade size between 4 and 7 inches, bread knife, carving knife that is used for carving meat, cleaver that is a rectangular knife, steak knife, kitchen shears that are used in cutting herbs, etc., and lettuce knife that is used in cutting salads among others.
Product innovation by the key players: The knife industry has witnessed rapid innovation in recent years, and this is expected to drive growth of global knife market. These newer blade materials allow stronger, harder, and more durable knives to maintain a sharp edge for a longer duration without frequent sharpening. High-end brands have also incorporated new technologies into knife design, including lightweight handle materials like carbon fiber and moulds that contour to the user's grip. This results in knives that are more ergonomic, easier to control, and less fatiguing during prolonged use.

Global Knife Market- Opportunities

Consumer preference shifting towards specialized knife types: Consumer demand compels knife manufacturers to develop new specialized knife types and styles. This includes paring knives which are optimized for detailed tasks like peeling fruits and vegetables, boning knives ideal for removing meat from bones, and all-purpose utility knives for everyday kitchen tasks. Manufacturers are similarly bringing unique styles to market, like Japanese-style knives with thinner, harder blades perfect for precise cuts and eye-catching Damascus steel knives with rippled patterns on the metal. These innovations cater to discerning home cooks and professionals those are willing to pay premium prices for quality knives that perform specific jobs exceptionally well.

Global Knife Market- Restraints

Disadvantages associated with the usage of safety knives: Various disadvantages associated with the usage of safety knives are expected to restrain the global knife market growth. The usage of snap-off blades, which is a type of safety knife, can often lead to accidents. Snap-off blade can also break involuntarily during the cutting process, thus, posing a health and safety risk. Moreover, this knife does not have a spring bearing on the blade, which creates a potential hazard, if the blades are left lying around the workplace.

The usage of semi-retracting knife may become dangerous if the user forgets to fully retract the blade after use. The semi-retracting knife poses a risk if the knife slips while the user is cutting. Although safety knives are designed to minimize danger, these can still be dangerous if not used properly. It is very important to check the legality of carrying a knife in the state or country.

For instance, in September 2021, according to the data published by WorkSafe Queensland, a government agency responsible for work health and safety and workers' compensation in Queensland, Australia, almost one third of all injuries sustained by 15–24-year-olds are cuts from working with knives.

Counterbalance: The key market players should ensure the safety of knives at the time of manufacturing process.