GVR Report cover Knife Market Size, Share & Trends Report

Knife Market Size, Share & Trends Analysis Report By Material (Steel, Titanium, Ceramic), By Type (Folding Blade, Fixed Blade, Side Slide), By Application, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-949-6
  • Number of Pages: 110
  • Format: Electronic (PDF)

Report 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.

U.S. knife market size, by material, 2020 - 2030 (USD Million)

However, since the outbreak, people have had to rely on homemade food. A growing number of people turned to social media to find new recipes and share photos and videos of the dishes they had prepared. With presentation being a major element of such pictures, consumers switched from regular cookware and kitchen utensils to more advanced tools that were not only functionally better but were also aesthetically appealing.                             

Various types of knives are used for DIY and woodworking projects, clothing trimming and tearing, protection, and self-defense. Knives are also used to cut through clamshells, cardboard, and other types of packaging, score materials like plasterboard, trim surplus material from an injection molded rubber or plastic and cut binding materials like cable, packing tape, or plastic strapping.

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.

Material Insights

The steel segment led the market and accounted for over 60.0% share of the global revenue in 2021. Steel is suitable for a variety of purposes given favorable characteristics such as hardness, toughness, edge retention, corrosion resistance, and attainable sharpness, which are all factors to consider. For example, a blade constructed of low carbon or mild steel, on the other hand, is inexpensive to create. A blade with a low carbon content is more durable. High carbon (or high alloy, in some listings) materials have substantially higher hardness, but they must be carefully tempered after heat treatment to avoid brittleness.

In addition, carbon steel is manufactured using iron and other elements such as manganese and carbon and is typically used to forge Japanese knives. However, carbon steel tends to discolor or rust easily. Stainless steel, on the other hand, comprises carbon steel with other elements such as chromium, vanadium, and tungsten. Stainless steel is hence preferred over carbon steel for its superior rust-resistant property.

Application Insights

The kitchen segment led the market and accounted for over 45.0% share of the global revenue in 2021. One of the main causes for the increase in demand for kitchen knives is the growing restaurant industry. Furthermore, due to the growing worldwide population, household demand for kitchen knives has increased dramatically. Kitchen knives are used in practically every family, hence the increased demand for kitchen knives is projected as the population grows, indicating a growth in the number of households.

Survival knives are widely used during camping and adventure activities. The popularity of camping and adventure activities has been growing globally, especially among the young population. For instance, according to Eurostat, nights spent at camping grounds, recreational vehicle parks, and trailer parks in the European Union by domestic country residents have increased from 186.906 million in 2012 to 233.449 million in 2021, witnessing a growth of around 25% during the period. The growing interest in camping, trekking, and other adventure activities is expected to surge the demand for survival knives in the coming years.

Type Insights

Fixed blade held the largest revenue share of over 45.0% in 2021. A fixed blade knife is the most popular type of knife. Fixed blade knives are considered strong and durable and are used in a wide variety of applications, including kitchen, survival, weapons, and sports. Due to their strength, they are preferred for hard outdoor activities such as hunting, prying windows, and cutting wood. In addition, apart from the widespread use in food preparation for cutting vegetables and meat, fixed blade knives are also used as cutlery knives. The growing number of restaurants, increasing trend for eating out, and a surge in the demand from households are some of the prominent factors positively impacting the demand for fixed blade knives.

Global knife market share, by type, 2021 (%)

The folding blade segment is expected to witness lucrative growth over the forecast period. Folding blade knives are multi-purpose instruments typically purchased because they are small enough to fit in a pocket. These knives are used for a variety of purposes, including opening packages and packets, chopping fruits and vegetables while away from home, and for self-defense. The demand for folding blade knives is expected to increase as a result of this.

Regional Insights

The European region accounted for the largest revenue share of more than 30.0% in 2021. The market expansion in Europe is being driven by an increase in outdoor activities, including camping and hiking that necessitate various types of knives. Furthermore, over the projected period, an increase in the number of nuclear families and single-person households and an increase in the number of households undergoing kitchen remodeling and renovation projects are likely to drive the demand for knives significantly.

Over the forecast period, the Asia Pacific region is predicted to expand at the fastest CAGR of 7.1%. The increased popularity of hand-forged knives in nations such as India, Myanmar, and Bangladesh can be ascribed to this increase in demand for knives in the region. Furthermore, in nations such as Japan and China, the popularity of specialty knives, such as the Japanese set of knives used in cooking, is also growing.

Key Companies & Market Share Insights

  • In 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.

  • In 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.

  • In June 2021, Peak Spec launched an innovative sleek multipurpose pocket knife. The foldable pocket knife can perform hardcore cutting tasks in the woods while being an elegant addition to one’s ensemble.

Some prominent players in the global knife market 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.

Knife Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 4.01 billion

Revenue forecast in 2030

USD 6.41 billion

Growth rate

CAGR of 6.0% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; India; Japan; Australia; Brazil; Argentina; UAE; Saudi Arabia; South Africa

Key companies profiled

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.

Customization scope

Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global knife market report based on material, type, application, and region:

  • Material Outlook (Revenue, USD Million, 2017 - 2030)

    • Steel

    • Titanium

    • Ceramic

    • Others

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Folding Blade

    • Fixed Blade

    • Side Slide

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Kitchen

    • Survival/Hunting/Adventure/Tactical

    • Weapon

    • Sports

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Central and South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • UAE

      • Saudi Arabia

      • South Africa

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