Global Knife Market, By Type (Folding Blade, Fixed Blade, and Side Slide), By Material, (Steel, Titanium, Ceramic, and Other Materials), By Application, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the global Knife market accounted for USD 4 billion and is expected to reach USD 7.1 billion in 2032. This market is estimated to register a CAGR of 6.1% between 2023 and 2032. The global knife market is a highly diverse and growing industry that includes a variety of different types of knives, such as kitchen knives, hunting knives, tactical knives, and others. The market is driven by factors such as rising demand for high-quality knives, increasing popularity of online sales channels as well as growing interest in custom knives.

The kitchen knives segment is the largest segment of the global knife market, accounting for a significant share of the market. The rising significance of visual appeal will be a driving factors for knife demand in the kitchen. These knives can be utilized to make unusual cuts, including chiffonade and brunoise. In the near future, it is expected that advanced knives with different types of blades will have a positive effect on market growth.

Driving Factors

Growing demand from the food service market:

The food service business is one of the main consumers of knives, and the sector’s rising need for high-quality and durable knives has boosted the expansion of the worldwide knife market.

Technological advancements:

The development of knives that are more durable and effective as a result of the inclusion of new materials and production methods has led the global knife market to expand.

Growth in e-commerce:

As e-commerce platforms developed, it has become simple for consumers to purchase a variety of knives from various companies and brands, which has raised the demand for knives.

The preference of consumers for a high-quality product is increasing:

Customers are prepared to pay a premium for knives with an expanded lifespan, indicating a demand for a high-quality product.

Restraining Factors

The availability of less expensive alternatives:

Consumers have the option to purchase less expensive knives with limited functionality rather than spending more money on high-end blades. This might limit the market’s premium knife segment’s ability to grow.

Regulatory issues:

The market for knives is subject to different regulations related to quality, manufacturing, and safety. Changes in these regulations could limit the growth of the market.

COVID-19 Impact Analysis

The global knife market has been significantly impacted by the COVID-19 pandemic. The Market for knives includes various products, such as hunting knives, pocket knives, and kitchen knives. Demand has increased for some categories while declining for others. The supply chain disruptions additionally had an impact on the supply of knives on the market.

Due to lockdowns and other restrictions, people are spending more time at home, which has led to an increase in home cooking. The demand for kitchen knives has increased. Some manufacturers have adapted to changing market conditions by producing knives at affordable prices to appeal to price-sensitive customers. The pandemic has caused a drop in discretionary expenditure, which includes luxury knives. The consumer is more likely to select affordable products over costly ones.

By Type Analysis

The Fixed Blade Segment Accounted for the Largest Revenue Share in Knife Market in 2022

Based on type, the market is segmented into Folding Blades, Fixed Blades, and side slides. Among these types, the fixed blade is expected to be the most lucrative in the global knife market, with the largest revenue share of 45.0% during the forecast period. The most widely used kind of knife is a fixed blade. Fixed-blade knives are used in many different contexts, including the kitchen, survival, weapons, and sports. They are regarded as being sturdy and long-lasting.

They are preferred for difficult outdoor activities like hunting, breaking windows, and cutting wood because of their strength. Additionally, fixed-blade knives are used as cutlery knives in addition to their widespread use in food preparation for slicing vegetables and meat. Some of the key elements that are favorably affecting the demand for fixed-blade knives are the expanding restaurant business, the rising trend of eating out, and an increase in household demand.

By Material Analysis

The Steel Segment Accounted for the Largest Revenue Share in Knife Market in 2022

Based on Material, the market is divided into Steel, Titanium, Ceramic, and Other Materials. Among this, the steel segment is dominant in the material segment in the knife market, with a market share of 60%. Steel has many uses due to its favorable characteristics, such as toughness, hardness, edge retention, and corrosion resistance. On the other hand, a blade constructed from low carbon or mild steel can be produced at a low cost.

A blade with less carbon is more durable. Materials with high carbon content (or high alloy content, depending on the listing) have much higher hardness, but they need to be properly tempered after heat treatment to prevent brittleness. Additionally, carbon steel is commonly used to forge Japanese blades and is produced utilizing iron and additional elements like manganese and carbon. However, carbon steel is tending to discolor. On the other hand, stainless steel combines carbon steel with other elements including chromium, vanadium, and tungsten. Due to stainless steel’s higher rust-resistant characteristic, it is preferred over carbon steel.

By Application Analysis

The kitchen Segment is Fastest Growing in the knife Market

Based on Application, the market is divided into Kitchen, Survival/Hunting/Adventure/Tactical, Weapon, Sports, and Other Applications. Among these, the kitchen segment is dominant in the application segment in the knife market, with a market share of 45.0%. The demand for household knives has also increased significantly due to the increasing population of the world. Since kitchen knives are used by almost every family, the demand for them will increase as the population increases. Survival knives are used in many camping and adventure activities. Camping and adventure activities are becoming increasingly popular, particularly among young people.

Knife Key Market Segments

Based on Type

• Folding Blade
• Fixed Blade
• Side Slide

Based on Material

• Steel
• Titanium
• Ceramic
• Other Materials

Based on Application

• Kitchen
• Survival/Hunting/Adventure/Tactical
• Weapon
• Sports
• Other Applications

Growth Opportunity

New product development:

Knives with new features like ergonomic designs and better blade materials can be made by manufacturers. Additionally, they can create specialized functions to handle certain cutting tasks. It might help them stand out from the competition and attract more customers with their products.

Online sales:

The development of e-commerce platforms has given knife producers access to new markets. Manufacturers may reach a larger audience and boost sales by increasing their internet presence.

Latest Trends

Increasing Demand for Customized and Specialty Knives:

Customers are becoming more interested in knives that are made to suit their demands and preferences. Due to this, there is a rising need for specialty and custom knives that are made for specific tasks or cuisines.

Rising Popularity of High-End Knives:

High-end knives are becoming more popular as a result of their resilience, sharpness, and appealing designs. These knives are typically produced from premium materials like high-carbon stainless steel, Damascus steel, and titanium

Regional Analysis

Europe accounted for the Largest Revenue Share in the knife Market in 2022

Europe is estimated to be the most lucrative market in the global knife market, with the largest market share of 30%, during the forecast period.  The popularity of outdoor activities including camping and hiking, which require various types of knives, is increasing the market’s growth in Europe. An increase in the number of nuclear families, single-person households, and homes undergoing kitchen renovation and remodeling are additional factors that will probably boost the demand for knives.

Asia Pacific is expected as Fastest Growing Region in Projected Period in the knife Market.

The Asia Pacific region is predicted to develop at a faster CAGR of 7.1% over the projected period. The increase in demand for knives in the region might be related to the increasing demand for hand-forged knives in nations like India, Myanmar, and Bangladesh. Additionally, the demand for specialty knives like the Japanese set of knives used in cooking is rising in countries like China and Japan.

Key Regions and Countries:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis

The knife market is a highly competitive sector with several significant companies. These players include both long-standing manufacturers of knives and more recent businesses that place a strong emphasis on innovation and design. The market share is highly fragmented in terms of the major players, with a number of them holding a significant share of it. These players compete on factors such as product quality, design, cost, and distribution system.

Market Key Players:

• Olfa Corporation
• Stanley Black & Decker, Inc.
• Milwaukee Tool
• Gerber
• Hyde Tools, Inc.
• U.S. Blade Manufacturing Company
• Roberts Consolidated Industries, Inc.
• Apex Tool Group LLC
• Klein Tools, Inc.
• Other Market Players

Recent Developments

• Klein Tools established a deal with Trade Hounds, America’s top network for qualified and knowledgeable tradespeople, in February 2022. The company’s dedication to celebrating, attracting, and serving as a resource for skilled craft trade workers.
• Crescent Tools redesigned their Crescent Camo Pocket Knife and Crescent Wiss Camo Tradesman Shears in November 2021. The updated cutting tools are perfect for outdoor pursuits including camping, fishing, boating, and hunting.
• Peak Spec introduced a cutting task, a functional pocket knife in June 2021. The foldable pocket knife can be an elegant accent to one’s outfit while doing hard-cutting tasks in the woods.

Report Scope: