PressRelease

Kitchen Knife Market to Exhibit Strong Growth Prospects; Rapidly Widening Presence of Restaurants and Hotels Worldwide to Brighten Market Outlook: Fortune Business Insights™

Kitchen Knife Market Size and Share Analysis | Industry Growth Forecast to 2027

The global kitchen knife market size is projected to experience dynamic growth in the forthcoming years owing to the proliferation of restaurants and fast food centers worldwide, as observed by Fortune Business Insights™ in its report, titled “Kitchen Knife Market Size, Share & Industry Analysis, By Material Use (Steel, Plastic, Titanium), By Application (Household, Commercial), By Size (3-6 Inches, 6-9 Inches, 9-12 Inches) and regional forecast 2021-2028″.

 

The food industry is growing at a moderate rate of 15-20 percent annually. A report by Economic Times India states that in a top metropolitan city such as Bengaluru, the foodservice sector is valued at $48 billion, which was larger than the value of the pharmaceutical sector. This growth can be attributed to several reasons, the important one being the rise in incomes of middle-class families. Also, rapid urbanization and globalization are promoting cuisines of different countries and places and hotels and restaurant businesses. For example, the National Restaurant Association said it expects the industry’s sales to reach $1.2 trillion by 2030.

The other reason for the growing demand for kitchen knives is the mushrooming of fast food outlets. Due to the rising number of working women, tech-savvy apps, and the growing popularity of different cuisines are favoring the demand for fast food.

 

COVID-19 Impact

The outbreak of the COVID-19 pandemic has crippled the global economy, and the kitchen knife market also suffered the loss. Most restaurants and hotels were shut amidst lockdown, and people preferred staying indoors. Apart from that, knife manufacturing industries were also shut as it was under non-essential services, and this negatively affected the market growth.

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Fortune Business Insights™ lists out a few of the renowned companies present in the kitchen knife market. They are as follows: 

  •         Zwilling J. A. Henckels
  •         Wüsthof
  •         Messermeister
  •         Global-Knife.
  •         Shun Cutlery
  •         Kitchen Knife Guru
  •         Kal USA Ltd.
  •         MAC Knife

 

Our Sample Report Includes:

  • 2021 Updated Report Introduction, Overview, and In-depth industry analysis
  • COVID-19 Pandemic Outbreak Impact Analysis Included
  • Provide Chapter-wise guidance on Request
  • 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
  • Includes Updated List of table & figures
  • Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)

 

Highlights of the Report

The report contains a comprehensive analysis of the kitchen knife market. It provides information about market segmentation and different strategies to help increase growth opportunities and revenue of the market. It also provides insights into the market’s drivers and restraints. Additionally, it provides information about the regional analysis, future trends, and the challenges that will affect the market growth.

 

Drivers and Restraints

Increased Influence of Food Related Content over Social Media & Television to Bolster Market Growth

To compete with one ano working upon the quality of food as well as developing new culinary methods.  In the U.S., restaurants are using ceramic knives so that it does not react with acidic fruits and food items. The knives used are designed in such a way that they remain sharp and rustproof over a longer period of time. Other drivers of this market include the rising number of food T.V. shows and the exponential growth of social media platforms to promote food. Doing what you love and making money from your passion is the key reason for people to choose unconventional career options such as cooking as their full-time job. Cooking provides them the option to run their own personal blogs, vlogs, and come up with new recipes, aided by the innovative use of kitchen knives and other tools.  These new-age trends are positively impacting the kitchen knife market.

 

Regional Insights

Europe to dictate the Market; the Asia Pacific to Come Next

Europe is dominating the kitchen knife market share due to the increasing number of hotels, restaurants, cafés, and bakeries in recent years. According to a report published by Horwath HTL Europe Chain and Hotel, hotel chains across the region have increased in places such as Netherlands, Paris, the U.K., and Poland.  Another report by PWC states that European hotel transaction volume increased and reached €20.9 billion in the year 2017.  This tremendous growth was seen due to the renewal of U.K. hotel investment activity in 2017. Apart from the U.K., huge investments were done in Spain and Germany. Booming tourism activities in the Asia Pacific region are strongly promoting the regional market for kitchen knives as tourists are deeply interested in novel food preparations and cuisines. For instance, a report by Nation Thailand mentions the top touristic locations of this region include India, China, Japan, Malaysia, and Thailand, where local cuisines are popular among Westerners.

 

Segmentation

By Material Use

  • Steel
  • Plastic
  • Titanium

By Application

  • Household
  • Commercial

By Size

  • 3-6 Inches
  • 6-9 Inches
  • 9-12 Inches

By Geography

  • North America (U.S., Canada, and Mexico)
  • Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
  • South America (Brazil, Argentina, and Rest of South America)
  • Middle East & Africa (South Africa, UAE, and Rest of ME&A)

Based on its material, the market is divided into steel, plastic, and titanium. By application, the market is divided into household and commercial. By size, it is segmented into 3-6 inches, 6-9 inches, and 9-12 inches. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East& Africa.

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Fortune Business Insights™ helps you identify track and stay ahead of your competition through our competitor research studies, our services include:

  • SWOT Analysis
  • Competitor Monitoring
  • Observational Research
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Key Questions Answered:

  • What are the key demands and trends shaping the market?
  • What are the key opportunities in the market?
  • What are the key companies operating in the market?
  • Which company accounted for the highest market share?
  • What is the market size and growth rate of the global and regional market by various segments?
  • What is the market size and growth rate of the market for selective countries?
  • Which region or sub-segment is expected to drive the market in the forecast period?
  • What Factors are estimated to drive and restrain the market growth?
  • Why Choose Fortune Business Insights?

 

Competitive Landscape

New Product Launches by Key Players to Energize the Market

Key players in this market are deepening their engagement to come up with innovative and comfortable products to allure their consumers. They are coming up with new launches and widening their offerings to expand in their market. For example, Viners, a British cutlery brand announced its new launch as assure collection of Kitchen Knives which is marketed as next-generation knives. It is made up of top-quality stainless steel and designed with a black non-stick coating material that reduces friction and provides comfort while chopping.

 

Industry Development

March 2020:  JRL group collaborated with Brand Partners Group to launch the new line of Kitchen Knife under a new brand name Ginsu.

 

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