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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

A safety knife is generally used to open packaging, cartons, and boxes. In addition, safety knives are spring-loaded knives with a self-retracting blade. These knives are used in multiple industries such as paints & coatings, fiber industries, etc. Moreover, the usage of safety knives helps to reduce the incidences of minor employee accidents and thereby help in shrinking the workmen compensation costs.

The global safety knives market is estimated to surpass US$ 321.9 million in terms of revenue by the end of 2027, exhibiting a CAGR of 4.8% during the forecast period (2021 to 2027).

Drivers

Increasing adoption of safety knives at workplaces is driving the market growth of the safety knives. This is attributed to utility knives, as they are the most commonly used tools at workplaces. They are used to cut open packages or cartons, cut strings or strapping materials, open bags, tear away wraps, and cut seatbelts in case of emergencies. However, usage of wrong cutting instruments at workplace can cause occupational injuries, which can result in reduced working hours, increase in production cost or reduced productivity. Companies are focused on selecting right cutting tool in order to reduce these accidents and to promote safety.

Growth of application industries is expected to foster the market growth of safety knives. Safety knives are widely used in various industries including food, retail, construction, medical, warehousing, automotive among others. Growth of this industries is expected to drive demand for safety knives over the forecast period. For instance, according to Invest India (National Investment Promotion and Facilitation Agency of the Government of India), India’s food processing industry is expected to reach US$ 535.0 billion by 2026. Furthermore, safety knives are widely used in various industries including food, retail, construction, medical, warehousing, automotive among others. Therefore, growth of this industry is expected to drive demand for safety knives over the forecast period. For instance, according to Invest India (National Investment Promotion and Facilitation Agency of the Government of India), India’s food processing industry is expected to reach US$ 535.0 billion by 2026. Moreover, the Government of India is taking initiative to boost investment in food processing industry, which is also expected to foster the market growth.

Among regions, Asia Pacific held dominant position in the global safety knives market in 2020, accounting for 36.40% market share in terms of revenue, followed by Europe.

Figure 1. Global Safety Knives Market Revenue Share (%), By Region, 2020

Safety Knives  | Coherent Market Insights

Market Restraints

Usage of snap-off blades, which is a type of safety knife, is expected to hinder the market growth, as its usage can often lead to accidents. The snap-off blade can also break involuntarily during the cutting process thus posing a health and safety risk. This factor therefore hinders the market growth of safety knives.

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Safety Knives Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2020: US$ 238.6 Mn
Historical Data for: 2017 and 2019 Forecast Period: 2021 to 2027
Forecast Period 2021 to 2027 CAGR: 4.8% 2027 Value Projection: US$ 321.9 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: U.K., Germany, Italy, France, Spain, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, South Korea, ASEAN, Australia, Rest of Asia Pacific
  • Middle East & Africa: Middle East and Africa
Segments covered:
  • By Product Type: Fully Automatic Retractable Safety Knives, Semi-Automatic Retractable Safety Knives, Concealed Blade Safety Knives, and Others
  • By Distribution Channel: Home Center & Hardware, Mass Retail, E-Commerce, Industrial, and Others
Companies covered:

Martor KG, Slice, Inc., The Safety Knife Company, Techni Trade, Hyde Tools, Inc., Milwaukee Electric Tool Corporation, Irwin Industrial Tools, Apex Tool Group, LLC, Pacific Handy Cutter Inc., Olfa Corporation, Stanley Black & Decker, Inc., and HTK Company

Growth Drivers:
  • Increasing adoption of safety knives at workplaces
  • Growth of application industries such as including food, retail, construction, medical, etc.
Restraints & Challenges:
  • Usage of snap-off blades, which can often lead to accidents

Market Trends

Innovation and new product development around the globe is the current safety knives market trend. Manufacturers are focusing on developing innovative products in order to strengthen their presence in the safety knives market. For instance, in 2018, Olfa Corporation launched its new safety knife, SK-14. The knife is ideal for use in food processing environment. The knife is stainless steel, metal detectable, and NSF (national sanitation foundation)-certified.

Figure 2. Global Safety Knives Market – Opportunity Analysis

Safety Knives  | Coherent Market Insights

On the basis of product type, in 2020, the Semi-Automatic Retractable Safety Knives segment accounted for 34.4% of the revenue share. The semi-automatic retractable safety knives segment is further bifurcated into squeeze grip, triple-sided slider, double sided slider, and single-sided slider. It is ideal for cutting cardboard, tape, and other materials. In addition, the double sided slider safety knives are suitable for both, right and left handed users and are ideal for cutting cardboard boxes, shrink wrap, plastic strapping, box tape, twine, and more. This is expected to drive demand for safety knives market during the forecast period.

Figure 3. Global Safety Knives Market Revenue Share (%), By Product Type, 2020

Safety Knives  | Coherent Market Insights

Global Safety Knives Market - Impact of Coronavirus (COVID-19) Pandemic

The outbreak of coronavirus has impacted the global economy and led to shutting down of major economic sectors. The first case of COVID-19 was reported in China in December 2019. Following this, on January 30, 2020, the World Health Organization (WHO) declared it a World Health Organization and on 11th March 2020, it was declared as a pandemic. According to the WHO, globally, there were 188.32 Mn cases recorded up to 16th July, 2021. Economic expansion in major countries such as the U.S. came to an end as a result of the COVID-19 pandemic, with forecasts of a deep recession in 2020. The coronavirus pandemic has caused global economic disruptions in trade. The pandemic has impacted the global supply chain industry and has been one of the major reasons for the disruption in the packaging industry globally.

Competitive Section

Key players operating in the global safety knives market include Martor KG, Slice, Inc., The Safety Knife Company, Techni Trade, Hyde Tools, Inc., Milwaukee Electric Tool Corporation, Irwin Industrial Tools, Apex Tool Group, LLC, Pacific Handy Cutter Inc., Olfa Corporation, Stanley Black & Decker, Inc., and HTK Company

Safety knives are knives that are used for opening packaging, cartons, and boxes. Safety Knives are of different types namely Fully Automatic Retractable Safety Knives, Semi-Automatic Retractable Safety Knives, Concealed Blade Safety Knives, and many more. Also, individuals can get safety knives from Home Center & Hardware, Mass Retail, E Commerce, Industrial Shops, and many more.

Market Dynamics

Growing demand for safety knives at work places around the globe is expected to provide potential opportunities for safety knives manufacturers. Safety knives features a spring-back mechanism that allows the blade to retract when the knife loses contact with the cutting surface. Safety knives can be used for multiple purposes and finds application across a wide range of professions and industries. These benefits offered by safety knives are expected to drive the market growth during the forecast period.

When the blade of knife becomes blunt, it is not able to provide the same results. Many knives don’t offer easy-to-replace blades, due to which companies have to spend more money for purchasing new safety knives. However, self-retracting safety knives offer replaceable blades, which helps company to save money. This feature of the self-retracting safety knife has led to the increasing demand for safety knives from various industries such as food, retail, construction, medical, warehousing, automotive among others.

Moreover, key players are focusing on various strategies such as mergers and collaborations. For instance, in September 2018, Slice, Inc. signed a global agreement with Acme United Corporation, a supplier of safety knives and other cutting products, headquartered in Connecticut, U.S. As per the agreement, Acme United Corporation would sell cutting tools including safety blades designed by Slice, Inc.

Key features of the study:

  • This report provides in-depth analysis of safety knives market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2021-2027), considering 2020 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global safety knives market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Martor KG, Slice, Inc., The Safety Knife Company, Techni Trade, Hyde Tools, Inc., Milwaukee Electric Tool Corporation, Irwin Industrial Tools, Apex Tool Group, LLC, Pacific Handy Cutter Inc., Olfa Corporation, Stanley Black & Decker, Inc., and HTK Company
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global safety knives market report caters to various stakeholders in this industry including investors, suppliers, safety knives manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global safety knives market

Detailed Segmentation:

  • Global Safety Knives Market, By Product Type:
    • Fully Automatic Retractable Safety Knives
    • Semi-Automatic Retractable Safety Knives
    • Concealed Blade Safety Knives
    • Others
  • Global Safety Knives Market, By Distribution Channel:
    • Home Center & Hardware
    • Mass Retail
    • E-Commerce
    • Industrial
    • Others
  • Global Safety Knives Market, By Region:
    • North America
      • By Product Type:
        • Fully Automatic Retractable Safety Knives
        • Semi-Automatic Retractable Safety Knives
        • Concealed Blade Safety Knives
        • Others
      • By Distribution Channel:
        • Home Center & Hardware
        • Mass Retail
        • E-Commerce
        • Industrial
        • Others
      • By Country
        • U.S.
        • Canada
    • Europe
      • By Product Type:
        • Fully Automatic Retractable Safety Knives
        • Semi-Automatic Retractable Safety Knives
        • Concealed Blade Safety Knives
        • Others
      • By Distribution Channel:
        • Home Center & Hardware
        • Mass Retail
        • E-Commerce
        • Industrial
        • Others
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type:
        • Fully Automatic Retractable Safety Knives
        • Semi-Automatic Retractable Safety Knives
        • Concealed Blade Safety Knives
        • Others
      • By Distribution Channel:
        • Home Center & Hardware
        • Mass Retail
        • E-Commerce
        • Industrial
        • Others
      • By Country
        • China
        • India
        • Japan
        • South Korea
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • By Product Type:
        • Fully Automatic Retractable Safety Knives
        • Semi-Automatic Retractable Safety Knives
        • Concealed Blade Safety Knives
        • Others
      • By Distribution Channel:
        • Home Center & Hardware
        • Mass Retail
        • E-Commerce
        • Industrial
        • Others
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Product Type:
        • Fully Automatic Retractable Safety Knives
        • Semi-Automatic Retractable Safety Knives
        • Concealed Blade Safety Knives
        • Others
      • By Distribution Channel:
        • Home Center & Hardware
        • Mass Retail
        • E-Commerce
        • Industrial
        • Others
      • By Sub-Region
        • Middle East
        • Africa
  • Company Profiles
    • Martor KG*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Slice, Inc.
    • The Safety Knife Company
    • Techni Trade
    • Hyde Tools, Inc.
    • Milwaukee Electric Tool Corporation
    • Irwin Industrial Tools
    • Apex Tool Group, LLC
    • Pacific Handy Cutter Inc.
    • Olfa Corporation
    • Stanley Black & Decker, Inc.
    • HTK Company

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Distribution Channel
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Safety Knives Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Safety Knives Market – COVID-19
    • Impact Analysis
  5. Global Safety Knives Market, By Product Type, 2017- 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020, 2023 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Fully Automatic Retractable Safety Knives
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • Semi-Automatic Retractable Safety Knives
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • Concealed Blade Safety Knives
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
  6. Global Safety Knives Market, By Distribution Channel, 2017- 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020, 2023 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Home Center & Hardware
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • Mass Retail
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • E-Commerce
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • Industrial
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn)
  7. Global Safety Knives Market, By Region, 2017- 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Mn)
      • Countries
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Mn)
      • Countries
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Mn)
      • Countries
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 – 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Mn)
      • Countries
        • China
        • India
        • Japan
        • South Korea
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2019, 2022 and 2027 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2020 – 2027
      • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Mn)
      • Market Size and Forecast, By Distribution Channel, 2017- 2027 (US$ Mn)
      • Sub Regions
        • Middle East
        • Africa
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • Martor KG.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Slice, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • The Safety Knife Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Techni Trade.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hyde Tools, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Milwaukee Electric Tool Corporation.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Irwin Industrial Tools.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Apex Tool Group, LLC.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Pacific Handy Cutter Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Olfa Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Stanley Black & Decker, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • HTK Company
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Safety Knives Market” - Global forecast to 2027.

FAQgrowicon

Frequently Asked Questions

The global safety knives market is estimated to surpass US$ 321.9 million by 2027 and is expected to exhibit a CAGR of 4.8% between 2021 and 2027.
Increasing adoption of safety knives at workplaces is expected to drive the market growth during the forecast period.
Innovation and new product development around the market trend.
Usage of snap-off blades, which is a type of safety knife, is expected to hinder the market growth, as its usage can often lead to accidents.
Major players operating in the market include Martor KG, Slice, Inc., The Safety Knife Company, Techni Trade, Hyde Tools, Inc., Milwaukee Electric Tool Corporation, Irwin Industrial Tools, Apex Tool Group, LLC, Pacific Handy Cutter Inc., Olfa Corporation, Stanley Black & Decker, Inc., and HTK Company
The market was valued at US$ 238.6 million in terms of revenue in 2020.
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