According to the research report titled ‘Global Knife Market Size study, By Material (Steel, Titanium, Ceramic, Others), By Type (Folding Blade, Fixed Blade, Side Slide), By Application (Household, Commercial), and Regional Forecasts 2022-2028’ available with MarketStudyReport, global knife market is anticipated to expand at a notable CAGR during 2022-2028.
Reliable sources suggest that rising demand for knives in commercial applications such as construction, sports, restaurants, etc., soaring number of restaurants prompting the demand for the product, and the introduction of advanced knives with multiple varieties of blades are the major growth determinants for global knife market.
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For the unversed, knives are tools with cutting edges or blades that are joined to handles or hilts. Knife blades come in a variety of materials, including carbon steel, ceramic, stainless steel, titanium, and plastic.
Furthermore, growing popularity of adventure activities like camping and increasing proliferation of e-commerce platforms making the product easily available, are expected to augment industry outlook in the coming years.
However, the implementation of strict government controls on the production, importation, sale, and transportation of knives may hamper market expansion during the analysis timeframe.
Based on material type, the industry is divided into ceramic, titanium, steel, and others. In terms of type, worldwide knife market is branched into side slide, fixed blade, and folding blade. On the basis of application ambit, the industry is split into commercial and household.
Regionally, the latest trends are studied across North America (U.S. Canada), Europe (Italy, Spain, France, UK, Germany, Rest of Europe), Asia Pacific (South Korea, Australia, Japan, India, China, and rest of APAC), Latin America (Brazil, Mexico), and Rest of the World.
Among these, Europe market holds a substantial revenue share at present and is slated to register colossal expansion during the assessment timeframe, owing to growing popularity of outdoor activities like hiking and camping as well as the expanding number of applications in the commercial sector.
Whereas Asia Pacific industry is slated to expand tremendously over the forecast duration, owing to rising proportion of household and burgeoning food outlets in the region.
Speaking of competitive landscape, Fiskars Group, Klein Tools, Inc., Apex Tool Group, LLC, Roberts Consolidated Industries Inc., Hyde Tools Inc., Blade Manufacturing Company, Inc., Gerber Legendary Blades, Milwaukee Electric Tool Corporation, Stanley Black & Decker, Inc., and Olfa Corporation are the leading players in global knife industry.