Knife Market size is set to grow by USD 811.3 million from 2023-2027, introduction of consumer kitchen knives with new features to boost the market growth, Technavio

NEW YORK, April 25, 2024 /PRNewswire/ -- The global knife market  size is estimated to grow by USD 811.3 million from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 4.32%  during the forecast period. 

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Market Driver

New kitchen knives with cool features are making more people want to buy knives worldwide. People want kitchen tools that are safe and easy to use. The new knives have super sharp blades made of stainless steel. They can slice and cut food without much effort. Designers are making knives lighter and easier to hold. They're also making sure the handles are comfy to grip.

This is because people lifestyles are changing, and they want kitchen tools that make cooking easier. The handles are specially designed to be comfortable and easy to hold. Knife makers looked at how hands move and how much force is needed in the kitchen. These new knives often have fancy features like gold-colored steel and cool designs on the handles. So, more people are going to want to buy them, which will make the global knife market grow even more.

Market Challenges

• More people are using food processors instead of knives in their kitchens, which is a big problem for the knife industry. Food processors are machines used for chopping, blending, and other kitchen tasks. They're handy because they can do a lot of things quickly. With more women working and having less time, food processors are a popular choice for making meals faster.
• People also want to eat healthier but don't want to spend a lot of time cooking. Food processors can help with that by cutting veggies, meat, and more. They come in different sizes and prices, so they're affordable for everyone. Because food processors can do so much, they're taking over tasks that knives used to do, like chopping and slicing. This means the knife market might not grow as much in the future.

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Segment Overview 

This knife market report extensively covers market segmentation by

1. Distribution Channel
   1. 1.1 Offline
   2. 1.2 Online
2. Type 
   1. 2.1 Fixed blade
   2. 2.2 Folding blade
   3. 2.3 Side slide
3. Geography 
   1. 3.1 Europe
   2. 3.2 North America
   3. 3.3 APAC
   4. 3.4 South America
   5. 3.5 Middle East and Africa

1.1 Offline-  People are choosing to buy knives from regular stores instead of online. These stores, like supermarkets and convenience stores, are where most folks go to get household stuff. They sell lots of different brands and types of knives, so customers can find exactly what they need.

• In 2017, these offline stores made about US USD2,529 million from knife sales, and that number kept going up until 2021. Companies are opening new stores in different countries, which helps this trend grow even more. Whether you're in a rich country or a poorer one, most people still prefer going to a physical store to buy kitchen tools.
• That's because it's easy to talk to someone who works there, see all the different options, and choose the best one for you. With all these reasons, it's expected that the knife market will keep growing in the future.

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Research Analysis

In the dynamic e-commerce landscape, the Kitchen Knife market continues to thrive, offering a diverse range of cutting tools for Western food cultures. Red Label Abrasives, a leading brand, specializes in High Carbon Steel knives, ensuring durability and sharpness. Shenzhen Knives and other reputable manufacturers provide an extensive selection, including a Chef's knife, Paring knife, Utility knives, Bread knife, Carving knife, Cleaver, Steak knife, Kitchen shears, Lettuce knife, and more.

Safety is a priority, with options for Safety knives, Snap off blades, and Semi-retracting knives. Blade materials vary, with High Carbon Steel being a popular choice for its edge retention. Handle materials offer ergonomic comfort and grip, enhancing the user experience. Low-quality knives, however, should be avoided for optimal performance and safety. Investing in a good set of knives, such as those from trusted brands, will elevate your culinary adventures.

Market Research Overview

In the vibrant Knife Market, Carbon-based materials take center stage. Here, you'll find a rich collection of Chef's knives, Carving knives, and Paring knives. Red Label Abraises knives, offering a unique Sharpness and durability. The Chetchen Knives, hailing from Shehenzhen, are known for their high-quality Craftsmanship.

Semi-automatic Snaps open the knives, while Cleaver knives provide versatility in the kitchen. Fixed knives, with their robust Handle designs, offer a secure Grip. Folding knives, compact and portable, are a must-have for outdoor enthusiasts. Carbon Fiber knives, with their lightweight and strength, are a modern favorite. Durability and precision are the hallmarks of this market, ensuring a satisfying experience for all.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
  • Offline
  • Online
• Type 
  • Fixed Blade
  • Folding Blade
  • Side Slide
• Geography 
  • Europe
  • North America
  • APAC
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio