USD 1.57 billion
Report ID: SQSG25I2001 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 143 | Figures: 78
Global Kitchen Knife Market size was valued at USD 1.57 billion in 2021 and is poised to grow from USD 1.76 billion in 2022 to USD 4.12 billion by 2030, growing at a CAGR of 11.2% in the forecast period (2023-2030).
Any knife used to prepare meals is referred to as a kitchen knife. While much of this work can be completed using a few general-purpose knives, particularly a large chef's knife, a sturdy cleaver, a small paring knife, and something with a serrated blade (like a bread knife or serrated utility knife), there are also many specialized knives that are made for particular jobs. Several different materials may be used to make kitchen knives. Over the next several years, demand for the product will be driven by the growing significance of aesthetic appeal in diverse foods. Additionally, due to increased globalization, using knives to cut unusual forms like brunoise, chiffonade, julienne, and macedoine have become a popular trend. This will raise the demand for the goods. In the near future, the launch of cutting-edge items will also favorably affect market expansion. This will boost the growth of the global kitchen knife market during the forecast period.
For example, the newest knife in Friedr. Dick's Red Spirit Series, for instance, is always the best option. You have the ideal all-purpose chef's knife with a 15 cm long blade. Some home cooks just find it difficult to use the large blade of a traditional chef's knife to slice little fruit or vegetables with fine texture into julienne or cubes. However, the blade's breadth is frequently employed. The hunt starts: Both a paring and a peeling knife are very tiny, thin, and curved. The Santoku is overly huge and incongruous in some way. The new, 15 cm long Red Spirit Chef's Knife with a small handle is ideal for this situation.
US Kitchen Knife Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.57 billion
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Global kitchen knife market is segmented based on the material, application, size, manufacturing process, cutting edge, and region. Based on the material, the global Kitchen Knife Market is segmented into steel, plastic, and titanium. By manufacturing process, the Kitchen Knife Market is segmented into hand forged and stamped blades. By cutting edge, the Kitchen Knife Market is segmented into plain, granton, serrated. By distribution channel, the Kitchen Knife Market is segmented into Convenience Stores, Supermarkets & Hypermarkets, Online. By application, the Kitchen Knife Market is segmented into household, and commercial. By size, the global Kitchen Knife Market is segmented into 3-7 inches, 7-9 inches, and 9-12 inches. Based on the region, Kitchen Knife Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Kitchen Knife Market Analysis by Material
Due to its ample supply, steel is expected to have the highest share in the global kitchen knife market. Its price is lower than that of titanium, and it is also thought to be sturdier and more long-lasting than a plastic knife. For example, Martensitic stainless steels, which are frequently used for both table knives and trade knives, have a carbon content of 0.12 to 1% and chromium content of between 12 and 18%. This combination provides corrosion resistance and enables considerable heat hardening. Stainless steel continues to be the most popular blade material among knife manufacturers, with 53% of them choosing it, according to Red Label Abrasives. High carbon steel was voted as the second most preferred material with 27% of the vote.
Following this, the plastic segment is also expected to see a significant boost during the forecast period in the global kitchen knife market. This is due to the rise in imports of these knives worldwide. Knife plastic import shipments total 21.5K, with 3,048 Buyers importing them. The United States, Vietnam, and India are the top 3 countries where plastic knives are imported. With 10,175 shipments, the United States is the top importer of knife plastic, followed by Vietnam with 5,603 shipments and India in third place with 1,759 shipments.
Kitchen Knife Market Analysis by Application
In 2021, the household segment held the largest share in the global kitchen knife market. This rise is linked to rising consumer disposable income and knowledge of the availability of high-tech items, particularly in developing nations like China and India. Furthermore, the key market players are introducing better technology for all age groups thus attracting more audiences from this segment. For instance, the Red Spirit Tiny Chef children's chef's knife, a recent addition to Friedr. Dick's, gives little cooks proven professional quality. Due to its versatility, the chef's knife is an all-purpose instrument and the most essential for each cook, regardless of age. The Red Spirit Little Chef children's chef's knife has a blunted, rounded tip and end to reduce the risk of accidents. The toddler can't stab themselves or others because of the blade's flat edge. While the youngster is holding the knife, the rounded end of the blade won't hurt their fingers.
Kitchen Knife Market Analysis by Size
In 2021, the 7–9-inch segment held the largest share in the global kitchen knife market. Furthermore, the quickest CAGR of 10.1% is also anticipated for the 7–9-inch product segment between 2021 and 2028. The category also has ham slicers and cutting and bread knives. These items are used for cutting for several purposes. The majority of these items feature hefty, wide blades. Paring knives, which are used for de-veining shrimp, cutting tiny garnishes, and peeling fruits and vegetables, are featured in the episode. These knives are still comfortable enough to cut through various kinds of food items.
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In 2021, the European region held the largest share in the global kitchen knife market. The increase in hotels that provide food to their visitors is a major factor in the rising demand for the goods. Data show that Europe continues to rank among the world's largest travel and hospitality markets, drawing equally as many leisure as business travelers. In Europe, over 340 new hotels debuted in 2020, and in 2021, there are forecast to be even more openings. The use of the product rises in the area that supports small companies, such as restaurants of various kinds since it is one essential item that they cannot live without. Additionally, the fierce competition among producers in this area leads to a variety of incentives being made to customers, which is also driving up consumption.
For example, with its above-average overall performance in the distinctive assessment process for the "Kitchen Innovation" award, the AJAX chef's knife by Friedr. Dick GmbH & Co was able to motivate both the expert panel and the audience of buyers. The AJAX was able to impress with its quality, functionality, and material quality, together with an appealing design and expected product characteristics. A very rare and valued prize was also given to the chef's knife: the "Golden Award - Best of the Best," which is given to the item with the best rating overall in its category.
Due to the increasing expansion of the tourism industry and the consequent rise in the number of food outlets, the Asia Pacific region is expected to experience substantial growth in the upcoming years. For instance, India has a total of 3 crore foodservice enterprises, excluding 55,000 hotels. The number of foodservice restaurants in India (4.2 million) is second only to those in China Mainland (9.3 million). This is further expected to boost the growth of the global kitchen knife market during the forecast period.
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Kitchen Knife Market Driver
Kitchen Knife Market Restraint
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Global kitchen knife market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Kitchen Knife Market
Kitchen Knife Market Recent Developments
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According to our global kitchen knife market analysis, in terms of material, the steel segment held the largest share in the global kitchen knife market in 2021, because its price is lower than that of titanium, and it is also thought to be sturdier and more long-lasting than a plastic knife. By application, the household segment held the largest share in the global kitchen knife market, this rise is linked to rising consumer disposable income and knowledge of the availability of high-tech items, particularly in developing nations like China and India. And by region, the European region held the largest share in the global kitchen knife market due to the rise is the number of hotels present in the region and the presence of prominent key players in the region.
|Market size value in 2021||USD 1.57 billion|
|Market size value in 2030||USD 1.76 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Kitchen Knife Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Kitchen Knife Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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