The global kitchen knives market size is expected to reach USD 2.08 billion by 2025 registering a CAGR of 8.6%, according to a new report by Grand View Research, Inc. Growing popularity of reality shows, such as Top Chef, MasterChef, Hell’s Kitchen, Iron Chef, and Chopped, which have renewed the arena of cooking, is the key growth-driving factor for the market. Moreover, cooking has become a prominent career choice, which is estimated to have a positive impact on the product demand. Increased importance of visual appeal in various food dishes will drive the product demand over the next few years.
Rising impact of social media platforms will also fuel the market growth. Key manufacturers in this market are Friedr. Dick GmbH & Co., Global Knives, KAI USA LTD., KIYA & Co., Ltd., MAC Knife, MASAMOTO, Mercer Culinary, Messermeister, Victorinox, Wüsthof, and Zwilling J. A. Henckels. Product development is expected to remain a critical success factor for the market participants. Thus, major companies have increased their spending on new product developments. For instance, In March 2019, Artisan Revere released Elmax, an 8.6-inch chef knife for uniform, smooth, faster cutting. In April 2019, Peak Knife Company launched Colorado 14ers chef’s knife made of German 1.4116 steel.
Click the link below:
https://www.grandviewresearch.com/industry-analysis/kitchen-knives-market
Further key findings from the report suggest:
- Stamped blade products accounted for the largest revenue share of more than 75% in 2018 owing to their easy availability and low price
- However, hand forged manufacturing products are expected to witness the fastest growth at a CAGR of 9.1% from 2019 to 2025
- Commercial application is expected to be the fastest-growing segment over the next few years. Increasing number of eateries and restaurants is pushing the use of knives in commercial sector
- Based on product size, 5-7 inch knives was the largest segment in 2018 and accounted for more than 35% of the overall market share
- Convenience stores segment led the global kitchen knives market in 2018. However, online channel segment will register the maximum CAGR from 2019 to 2025
- Asia Pacific is expected to be the fastest-growing regional market at a CAGR of over 9% during the forecast period
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