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Pharmacy benefit management market
Knife Sharpener Market REPORT OVERVIEW
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global knife sharpener market size was USD 734.7 million in 2020 and market is projected to touch 1061.2 Million By 2031, exhibiting a CAGR of 3.4% during the forecast period.
A tool used to sharpen blades is called a knife sharpener. The sharpeners come in two primary varieties: stone-based and electric/manual operated. Additionally, there are combo-devices that employ both techniques on both sides of them as well as connectable gadgets that can be set to tables; these devices typically hold the blade at a predetermined angle for individuals who lack strength in their hands and dexterity (for example, those with arthritis), who cannot obtain a consistent edge by unaided sharpening. There are various methods for honing a knife, depending on how sharp one desire the blade to be. Superfine grit will produce the greatest finish possible, but it requires skill, such as stropping, before finishing.
Moreover, the need for kitchen knives is also anticipated to increase in the near future as cooking becomes a more popular career choice. The majority of customers seeking sharpening services are those who buy expensive knives. A significant contributor to the market's expansion is the rise of the number of lodging establishments, eateries, cafes, repair shops for lawnmowers, sewing and woodworking stores, sheep shearers, dairy shops, and salons.
COVID-19 Impact
"Supply and Isolation Limitations to Deplete Market Advancement "
The availability of knife sharpening services has been greatly hampered by the global COVID-19 outbreak. The requirement for knife sharpening solutions among households is probably going to remain consistent or even rise as more individuals choose to cook at home rather than go out to eat. The amount of requests for this service is severely limited on a commercial basis. This can be linked to the government-issued lockdown orders. The use of knives has also dramatically decreased as a result of eating establishments, lodging establishments, and other eateries being closed or operating at reduced capacity. As a result, fewer sharpening services are needed.
LATEST TRENDS
"Electrical Sharpener to Stimulate Market Development "
Electricity is used to power electric knife sharpeners. The sharpening blades are spun by a motor in them. To assist you in choosing the proper sharpening angle, certain models additionally come with an angle guide. Electric sharpeners can be more costly than manual ones, but they are quick and simple to operate. If the user wants to sharpen the knives quickly, easily, and precisely, electrical knife sharpeners are an excellent option. Since the motor does the majority of the work, they are especially beneficial for those with poor hand strength or dexterity.
Knife Sharpener Market SEGMENTATION
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- By Type
Based on type; the market is divided into electric type, manual type Electric type is the leading part of the type segment.
- By Application
Based on the application; the market is divided into residential, restaurant, other Residential is the leading part of the application segment.
DRIVING FACTORS
"Growing Utilization in Restaurants to Aid Market Expansion "
Knives are ground to get a fine edge with the sharpener. However, they can also be obtained at homes for domestic usage. Professionals use them mostly to preserve their tools and equipment. Due to the rising demand from restaurant owners who use them frequently, the market size for handheld butcher's blocks sharpeners has grown. Therefore, growing utilization by restaurants unit will upgrade the knife sharpener market share during the forecasted period.
"Household Sector to Foster Industry Progress "
In 2020, the household sector controlled the largest portion of the market at around 55.0%. This is explained by the rising urbanization brought on by migration and population expansion. Kitchen knives must always be kept sharp in order to slice through food with the least amount of slippage. Because they need more force to cut and so have a larger probability of slipping and losing the target, dull knives are dangerous in home kitchens. Additionally, improperly and unevenly chopped meats and veggies do not cook correctly or uniformly. Therefore, since they enhance the whole cooking experience, it is crucial to regularly sharpen home kitchen knives. The knife sharpener market share will expand due to the heavy utilization by the household sector in the coming years.
RESTRAINING FACTORS
"Delays in Transportation to Hinder Market Advancement "
Knife sharpener companies are currently taking time to deliver orders, especially in jurisdictions with enforced business closures and stay-at-home warnings. The market has also been experiencing difficulties in the supply chain. Delays in transportation from and to clients are caused by fewer individuals working to reduce the danger of transmitting the virus. Additionally, a growing number of customers are choosing to sharpen their knives in their homes using gear they have purchased online and have followed online tutorials and videos. This factor is predicted to slow knife sharpener market growth throughout the anticipated time frame.
Knife Sharpener Market REGIONAL INSIGHTS
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"Majority of First-Time Home Buyers in North America to Support Market Advancement "
North America dominated the knife sharpener market. This is attributable to the U.S. housing market's ongoing expansion. The majority of first-time home buyers in the area and across the U.S. prefer to rent homes. The rental housing market is expanding significantly as home values soar, which is driving up spending on home upgrades, repairs, and renovations. Many customers think about choosing to have kitchen items, such knives, sharpened several times a year as opposed to purchasing new ones. Throughout turn, this is anticipated to increase popularity of knife sharpening services throughout the North America region.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Zwilling (Germany)
- Chef’s Choice (U.S.)
- Presto (U.S.)
- Smith's (U.K.)
- WorkSharp (U.S.)
- Lansky (U.S.)
- TAIDEA (India)
- DMT (India)
- Spyderco (U.S.)
- McGowan (U.S.)
- Accusharp (India)
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 734.7 Million in 2020 |
Market Size Value By |
US$ 1061.2 Million by 2031 |
Growth Rate |
CAGR of 3.4% from 2020 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Applications |
Frequently Asked Questions
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What value is the knife sharpener market expected to touch by 2027?
The global knife sharpener market size is expected to reach USD 928.4 million by 2027.
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What CAGR is the knife sharpener market expected to exhibit by 2027?
The knife sharpener market is expected to exhibit a CAGR of 3.4% by 2027.
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Which are the driving factors of the knife sharpener market?
The driving factors of the knife sharpener market are growing utilization in restaurants and household sector.
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Which are the key players or most dominating companies functioning in the knife sharpener market?
The key players in knife sharpener market are Zwilling, Chef’s Choice, Presto, Smith's, WorkSharp