Global Safety Knives Market was valued at US$ 226.00 million in 2020, According to Safety Knives Market Report, 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), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.

Global safety knives market was valued at US$ 226.00 Million in 2021. Safety Knives market is expected to register a CAGR of 4.67 % over the forecast period (2022-2030), to reach US$ 340.51 Million by 2030.

The growth of the safety knives market is expected to be driven by surge in end-use industries. Government of multiple nations are taking initiatives to boost investment in food processing industry. In addition, more people have started adopting safety knives as they are integrated with innovative and safety features. These knives are designed to reduce injuries at the workplace and are an essential part of any workplace safety program. Some of the features of safety knives include trigger action blade extension, self-retracting blades, blade guards, and hidden blades with unique cutting designs at workplaces, such factors have augmented the target market growth.

With the strict restrictions and lockdown being imposed across the globe, the industrial sector has been highly impacted as the companies and operational units were asked to be non-operational. This led to a disruption in the industrial packaging market and ultimately impacted the safety knives market across the globe. However, the imposition of lockdown also noted a rise in the e-commerce sector. For instance, according to Coherent Market Insights’ analysis, the total U.S. cross-border e-commerce grew from 7% in April in 2020 to 10.2% from January to June 2021.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/safety-knives-market-4562

Browse 50 market data tables* and 40 figures* on "Global Safety Knives Market” - Forecast to 2030.

Key Trends and Analysis of the Global Safety Knives Market:

  • Among regions, Asia Pacific accounted for a significant market share in 2021. Among product type, Semi-Automatic Retractable Safety Knives segment accounted for 34.4% of the revenue share in 2021.
  • The growing popularity of dining in restaurants and cafes presents attractive expansion potential for eating establishments all over the world. As the number of restaurants grows, so does the demand for modern cutlery and culinary gear, such as knives. For instance, at the beginning of 2022, the (US) National Restaurant Association comprised over 1 million restaurant and foodservice locations in the U.S., employing 14.5 million people. Consumers’ need for convenience, socializing, and high-quality food and service has contributed to the expansion of the restaurant industry. As a result, restaurant owners are investing in new, high-quality cooking equipment such as knives.

Key Takeaways of the Global Safety Knives Market

  • On the basis of product type, in 2021, the semi-automatic retractable safety knives segment accounted for 34.4% of the revenue share.
  • In November 2021, Crescent Tools, a brand of hand tools revamped its Crescent Wiss Camo Tradesman Shears and Crescent Camo Pocket Knife. The revamped cutting tools are ideal for camping, hunting, boating, fishing, and other outdoor activities.
  • New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the safety knives are key strategies adopted by players in the global safety knives market. For instance, in February 2022, Klein Tools, a company engaged in making of hand tools announced its partnership with Trade Hounds, America’s leading network for professional and skilled tradespeople.

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