Knife Market to grow by USD 811.3 million from 2022 to 2027 | The introduction of consumer kitchen knives with new features drives the market -Technavio

NEW YORK, Sept. 1, 2023 /PRNewswire/ -- The knife market size is estimated to grow by USD 811.3 million from 2022 to 2027 at a CAGR of 4.32% according to Technavio. The introduction of consumer kitchen knives with new features is the key driver for the growth of the global knife market. The evolving demand for kitchen tools that prioritize safety and user comfort has spurred the advancement of kitchen knife designs. Notably, this evolution has manifested in the form of highly sharp stainless-steel blades that facilitate effortless slicing, cutting, and other culinary tasks. Recent years have witnessed a deliberate focus on optimizing consumer kitchen knives through considerations such as knife weight, handle grip, and blade sharpness. Manufacturers and market participants have meticulously examined the intricacies of hand movement mechanics and the requisite force for various culinary applications.

Knife Market Insights -

• Vendors: 15+, Including Apex Tool Group LLC, Bettcher Industries Inc., Dexter Russell, Friedr. Dick GmbH and Co. KG, Gerber Gear, Hyde Group Holdings Ltd., Kai Corp., Klein Tools Inc., MAC Knife Inc., Messermeister Inc., Morakniv AB, Olfa Co. Ltd., Pacific Handy Cutter Inc., Q.E.P. Co. Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., TOJIRO Co. Ltd., U.S. Blade Manufacturing Co., Victorinox AG, and Wilh. Werhahn KG, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Distribution Channel (Offline and Online), Type (Fixed blade, Folding blade, and Side slide), and Geography (Europe, North America, APAC, South America, and Middle East and Africa)

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Knife market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a sample!

Knife market - Company Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Apex Tool Group LLC, Bettcher Industries Inc., Dexter Russell, Friedr. Dick GmbH and Co. KG, Gerber Gear, Hyde Group Holdings Ltd., Kai Corp., Klein Tools Inc., MAC Knife Inc., Messermeister Inc., Morakniv AB, Olfa Co. Ltd., Pacific Handy Cutter Inc., Q.E.P. Co. Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., TOJIRO Co. Ltd., U.S. Blade Manufacturing Co., Victorinox AG, and Wilh. Werhahn KG

Knife Market – Market Dynamics

Key challenges

Increasing use of food processors is the major challenge for the growth of the global Knife market. The escalating adoption of food processors for culinary tasks poses a notable challenge to the global knife market. Food processors are versatile kitchen appliances designed to carry out a spectrum of functions including chopping, pureeing, shredding, dicing, bread kneading, meat mincing, and juice extraction. Given their multifaceted benefits, food processors have the potential to gradually supplant traditional kitchen knives for tasks such as chopping and slicing in the projected forecast period. Furthermore, the evolving consumer preference for prompt and healthful food preparation aligns with the multifunctionality offered by these appliances. The appeal is heightened by the availability of a diverse range of food processors catering to various sizes and budgets, commencing from as low as USD 25, rendering them cost-effective options. Consequently, the ascending adoption of food processors for functions like dicing, mincing, chopping, and slicing will exert a limiting influence on the expansion of the knife market during the forecast period.

Drivers and challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

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What are the key data covered in this Knife Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the knife market between 2023 and 2027
• Precise estimation of the size of the Knife Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the knife market across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about companies 
• Comprehensive analysis of factors that will challenge the growth of knife market companies 

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Related Reports:

The commercial kitchen knives market is estimated to grow at a CAGR of 4.93% between 2022 and 2027. The size of the market is forecast to increase by USD 114.15 million. This report extensively covers market segmentation by type (chefs knives, utility knives, bread knives, meat knives, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The introduction of consumer kitchen knives with new features is the key driver for the growth of the global knife market. 

The consumer kitchen knife market size is expected to increase to USD 714.35 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.58%. This report extensively covers consumer kitchen knife market segmentation by product (non-electric and electric), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The growth of the consumer kitchen knife market is driven by the introduction of kitchen knives with new features.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio