Knife Industry Overview
The global knife market size was valued at USD 3.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2022 to 2030. Retractable and folding knives are often used in the construction industry. As a result, worldwide knife demand is expected to be fueled by strong growth in the construction industry. In addition, during the next few years, the rising relevance of visual appeal in diverse cuisines is predicted to fuel the demand for kitchen knives.
During the initial panic-buying phase of the COVID-19 pandemic, consumers raced to stock up on toilet paper, frozen foods, disinfectant wipes, cleaning supplies, and other household necessities. In the weeks and months that followed, they turned their attention to tools and appliances that aid in cooking, health, and wellness. Working individuals in metro cities and major towns have enjoyed eating out or ordering from nearby food outlets before COVID-19.
Gather more insights about the market drivers, restraints, and growth of the Global Knife Market
The growing popularity of dining in restaurants and cafes presents attractive expansion potential for eating establishments all over the world. As the number of restaurants grows, so does the demand for modern cutlery and culinary gear, such as knives. For instance, at the beginning of 2022, the (US) National Restaurant Association comprised over 1 million restaurant and foodservice locations in the U.S., employing 14.5 million people. Consumers’ need for convenience, socializing, and high-quality food and service has contributed to the expansion of the restaurant industry. As a result, restaurant owners are investing in new, high-quality cooking equipment such as knives.
The construction industry makes extensive use of retractable and folding knives. As a result, significant growth in the construction industry is predicted to fuel global knife demand. In addition, the increased importance of visual appeal in various dishes is expected to drive the demand for kitchen knives over the next few years. These knives are used to create unusual cuts such as brunoise, chiffonade, julienne, and macedoine, which are a common trend globally. The introduction of advanced knives with various types of blades is likely to have a positive impact on market growth in the near future.
Browse through Grand View Research's Homecare & Décor Industry Related Reports
Smart Kitchen Appliances Market - The global smart kitchen appliances market size was valued at USD 15.68 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 18.3% from 2023 to 2030.
Kitchen Knives Market - The global kitchen knives market size was valued at USD 1.76 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.2% from 2023 to 2030.
Knife Industry Segmentation
Grand View Research has segmented the global knife market based on material, type, application, and region:
Knife Material Outlook (Revenue, USD Million, 2017 - 2030)
- Steel
- Titanium
- Ceramic
- Others
Knife Type Outlook (Revenue, USD Million, 2017 - 2030)
- Folding Blade
- Fixed Blade
- Side Slide
Knife Application Outlook (Revenue, USD Million, 2017 - 2030)
- Kitchen
- Survival/Hunting/Adventure/Tactical
- Weapon
- Sports
- Others
Knife Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- MEA (Middle East & Africa)
Market Share Insights:
February 2022: Klein Tools announced its partnership with Trade Hounds, America’s leading network for professional and skilled tradespeople. This partnership was in line with the company’s commitment to attracting, celebrating, and being a resource to skilled trade workers.
November 2021: Crescent Tools revamped its Crescent Wiss Camo Tradesman Shears and Crescent Camo Pocket Knife. The revamped cutting tools are ideal for camping, hunting, boating, fishing, and other outdoor activities.
Key Companies profiled:
Some prominent players in the global Knife Industry include
- Olfa Corporation
- Stanley Black & Decker, Inc.
- Milwaukee Tool
- Gerber
- GLOBAL
- Hyde Tools, Inc.
- U.S. Blade Manufacturing Company
- Roberts Consolidated Industries, Inc.
- Apex Tool Group LLC
- Klein Tools, Inc.
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