Knife Market Size Worth $6.41 Billion By 2030 | CAGR: 6.0%

Knife Market Growth & Trends

The global knife market size is expected to reach USD 6.41 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2022 to 2030. Increased knife applications and the availability of a diverse range of knives for various purposes are projected to boost market growth.

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.

Camping knives are used for a wide range of chores. Splitting kindling, assisting with food preparation, fire starting and maintenance, and whittling tent pegs, wooden figurines, or a marshmallow roasting stick are some of the uses of knives at a campsite. These tools can also be used to skin a fish, perform water rescues, and cut cable and rope in survival scenarios for more expert campers. They can also be used to ward off bears and cut down trees in more unusual survival situations. The most commonly used knives in these scenarios are dagger knives, Swiss Army knives, and pocket knives.

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.

Knives are typically sold through e-commerce, hypermarkets, brand shops, and home improvement retail stores, among other distribution channels. Businesses are expected to change their focus from brick-and-mortar sales to e-commerce portals, given the economic prospects that are being generated in the e-commerce market. This transformation is projected to be fueled by increasing digitization, smartphone usage, and increased internet access, to name a few variables.

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Knife Market Report Highlights

• Europe held the largest revenue share in 2021. Factors such as increasing urbanization as a result of population growth and migration have resulted in the expansion of the residential sector. The increase in house ownership rates across various countries in Europe is also expected to drive the demand for knives over the forecast period

• The ceramic material segment is expected to expand at the highest CAGR of 6.8% over the forecast period. Ceramic knives are lightweight and are made from Zirconium Dioxide, one of the hardest substances on Earth, due to which its blade remains sharp for a longer period when compared to other materials. Ceramic knives have supreme sharpness and are suitable for dicing and chopping with precision in the kitchen

• The fixed blade-type segment accounted for the largest revenue share in 2021. 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

Knife Market 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

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Spain

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the Knife Market

• 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.