The global knife products market was valued at USD 15.5 billion in 2022 and is projected to expand at a CAGR of 5.4% from 2023 to 2030. The increasing demand for knives from various applications such as food processing, industrial and construction, and medical is driving the growth of the market. Furthermore, the growing popularity of sporting activities, such as hunting, camping, and fishing, is expected to boost the demand for knives.

Furthermore, the increasing demand for electrically powered knives is encouraging market participants to develop new and improved products. For instance, in April 2021, X-ACTO announced the launch of the X-ACTO Pro-X Electric Knife, a powerful electric knife with a high-torque motor and a variable speed control for accurate cutting. The product is designed to become an integral part of any crafting, cutting, or sculpting project.

The increasing popularity of knives as a collectible item is also driving their demand. According to a survey conducted by Collectors Weekly, in November 2020, the majority of knife collectors are aged between 35-54 years and many of them are primarily interested in collecting fixed-blade knives and pocket knives. Furthermore, the growing trend of custom knives is also driving the market growth. Many knife manufacturers are offering custom-made knives with unique designs and materials to attract a larger customer base.

In addition, the increasing demand for kitchen knives is also driving the market growth. According to a survey conducted by the National Kitchen & Bath Association, in January 2021, around 76% of the respondents indicated that their kitchen knives were the most used tools in the kitchen. Furthermore, the increasing popularity of cooking shows on television is also driving the demand for kitchen knives.

Lastly, the increasing demand for tactical knives is also boosting the market growth. Tactical knives are used for various activities such as self-defense, hunting, and camping. Furthermore, the growing popularity of tactical knives as a fashion accessory is driving the demand for tactical knives. For instance, in December 2021, Buck Knives announced the launch of a new tactical knife, the Buck Ops X. The product is designed for everyday carry and is made of the highest quality materials.

The household segment accounted for the largest share of the knife products market in 2022. Rising demand for multiple kitchen knives for various tasks such as cutting, slicing, and peeling is expected to drive the market over the forecast period. According to an article published by the University of Utah, in December 2019, the average kitchen contains 8-10 knives. In addition, increasing demand for knives from households owing to the rise in the number of cooking shows, food bloggers, and people who like to cook as a hobby, is expected to boost the demand for knife products.

The professional segment is expected to expand at the fastest CAGR of 8.3% over the forecast period. Increasing demand for specialized knives from the professional segment such as butcher knives, fillet knives, boning knives, and other knives is expected to drive the market. According to an article published by the Huffington Post, in October 2019, there are over 100 types of knives used by professional chefs. Moreover, increasing demand for hunting and camping knives from the professional segment is expected to boost the demand for knife products.

The supermarkets and hypermarkets segment is estimated to hold a major share of 36.4% in 2022. The growth is attributed to the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase knives. The supermarkets & hypermarkets offer wide varieties of knives from different brands and provide customers with the convenience to choose from a host of products in one place. In addition, supermarkets and hypermarkets often provide discounts and offers on knifes, which further boosts their popularity among consumer.

The online segment is anticipated to expand at the highest CAGR of 14.2% over the forecast period. The growth of the segment is mainly driven by the increasing number of online retailers and e-commerce websites selling knives. In addition, consumers can compare prices and reviews of product on different websites before making purchase decision, which further boosts the popularity of online stores. For instance, in 2021, Amazon launched a dedicated website for knives, offering a wide range of knives from different brands.

The kitchen knives segment accounted for the largest revenue share of 52.2% in the year 2022. The increasing demand for kitchen knives in the residential and commercial kitchens is the primary factor driving the market. The growing trend of cooking at home has increased the demand for kitchen knives due to their ease of use and convenience. Furthermore, the rising disposable income of people in developing countries is boosting the market for kitchen knives.

The pocket knives segment is estimated to expand at the highest CAGR of 8.2% over the forecast period. The increasing demand for pocket knives in the outdoor activities such as camping, fishing, hunting, and hiking is driving the market. The rise in the number of people participating in outdoor activities is also fueling the market. Furthermore, the increasing popularity of tactical knives and multi-tools is accelerating the demand for pocket knives.

Europe is expected to account for the largest revenue share of the global knife products market in 2022. The region is home to some of the leading knife makers in the world, such as Wüsthof, Victorinox, and Zwilling J.A. Henckels. These companies have been producing knives for centuries and offer a wide variety of products. Furthermore, the introduction of innovative products, such as cordless electric knives, is anticipated to drive the regional market growth.

Asia Pacific is expected to witness the highest growth rate in the coming years. The region is home to a large number of consumers, who are increasingly using knives for their daily activities. The growing popularity of kitchen knives among professional chefs, as well as the increasing demand for multi-functional knives, is further expected to drive the regional market growth. For instance, in April 2021, Kyocera introduced the Revolution series knives in Japan, which are made from ceramic material and feature multi-functional blades.

In this part of the knife products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a knife products business comes from the sale of knives, knife accessories, knife sharpening services, and knife repair services. Here you will find a list with a description of each of them and other possible sources of profit such as custom orders and bulk orders.

Projecting Expenses

In this section, all the regular expenses related to keeping the knife products business running will be described. The list of operating expenses includes rent, wages, advertising, utilities, insurance policies, legal fees, research and development costs, and others.

Some of the key companies operating in the knife market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Gerber Gear launched the StrongArm, a fixed-blade knife designed for tactical and outdoor use.

– In August 2022, Benchmade Knife Company launched the Mini Griptilian line of knives featuring a lightweight handle and a strong blade.

– In October 2022, W.R. Case & Sons Cutlery Company launched the TrapperLock series of knives with a locking mechanism for increased safety.

Some of the prominent players in the knife market include:

– Gerber Gear
– Benchmade Knife Company
– W.R. Case & Sons Cutlery Company
– Victorinox Swiss Army
– Spyderco, Inc.
– Buck Knives
– Kershaw Knives
– Ka-Bar Knives
– Smith & Wesson
– Cold Steel, Inc.

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

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Kitchen Knives
– Hunting Knives
– Pocket Knives
– Multi-Tools

2. Material Outlook (Revenue, USD Million, 2017 – 2030)

– Steel
– Plastic
– Wood
– Others

3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

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

[Q]: What are the Key Trends in the Knife Products Market?
[A]: The knife products market is witnessing a growing trend of eco-friendly products such as biodegradable and recycled knives. Additionally, the rising demand for ergonomically designed knives is driving the market. The availability of various kinds of knives with different features such as sharpness, hardness, and durability is also driving the market.

[Q]: What are the Major Challenges Facing the Knife Products Market?
[A]: The major challenges facing this market include the lack of awareness among consumers about the quality and safety of knives, high cost of materials, and stringent regulatory standards. In addition, the increasing competition from local players is a major challenge.

[Q]: Who are the Major Manufacturers in the Knife Products Market?
[A]: Some of the major manufacturers in the knife products market include Wüsthof GmbH, Zwilling J.A. Henckels AG, F. Dick GmbH & Co. KG, Global Cutlery USA, Inc., Kai Corporation, Taylor Brands LLC, and Victorinox AG.

[Q]: What is the Potential of Product Innovation?
[A]: Product innovation has played a major role in the growth of the knife products market. Manufacturers are introducing new and improved products such as laser-cut knives, ceramic knives, and folding knives with the aim of increasing product differentiation. In addition, the introduction of smart knives that allow for easy and safe handling is also expected to drive innovation.

[Q]: What are the Regional Markets for Knife Products?
[A]: The knife products market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Of these, North America is expected to be the largest market, followed by Europe. The increasing demand for kitchen knives and pocket knives is expected to drive the market in these regions. Additionally, emerging economies such as India and China are expected to be the major contributors to the Asia Pacific market.