Paring Knives Market Size, Share, Growth, And Industry Analysis, By Type (Carbon Steel, Stainless Steel, Ceramic, Others), By Application (Fruit, Vegetables), Regional Insights, and Forecast To 2031

Updated On: 29 April 2024

Paring knives Market Report Overview

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The global paring knives market size was 316.2 million in 2023 and is projected to touch USD 481.6 million by 2031, exhibiting a CAGR of 5.4% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with the Paring knives market experiencing higher/lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Paring knives are tiny tools made for performing tinier tasks like peeling or chopping fruits and vegetables.

The blade of a paring knife is a unique kind of knife that is often manufactured from zirconium dioxide (zirconia), which is much harder than stainless steel or carbon steel. This knife's primary benefit is that it is odour and rust-resistant. Although it appears to be nice plastic silverware, it is really sharp. The inability to conduct electricity at normal temperature, lack of magneticity, and resistance to caustic and strong acid are all important characteristics of paring knives. Because they can retain an edge longer than forged metal knives and are resistant to strong acids and alkalis, paring knives are perfect for cutting boneless meat, vegetables, fruits, and bread.

COVID-19 Impact: Slump in luxury retail will restrain market expansion

Because of Covid-19, the world has become emotionally, socially, and economically out of balance. Since the impact was so large, it will take years to close the gap. On an economic or social level, the market might see some relief, but not on an emotional one. The breakdown of the whole health system in both rich and developing countries has killed millions of people in the last year and is still killing people today. While consumers were dealing with a decline in income, luxury retail items like knives were the least of their concerns. Following the pandemic, many luxuries had to be given up, which had a negative impact on the next pandemic. The sudden breakdown, which hindered production for more than two years, resulted in significant losses for the industry because of a shortage of raw materials, idle workers, the loss of work-in-progress, minimum guarantee fees for electricity or similar fees, insurance premiums, rent, and other costs. The costs of each commodity and service were similarly impacted by the unexpected industry breakdown. While business had to spend money repairing the infrastructure, output levels declined sharply on the one hand. In addition, pay was offered to keep the labour prepared for upcoming tasks. Without using such services, rent, premiums, minimum guarantee fees, and working capital interest were all paid for. Consequently, the industry ultimately sustained a serious loss.

Latest Trends

"Industry Technological Advances to Support Market Growth"

Technological advances allow for the daily introduction of new and improved Paring Knife models. Customers will be attracted to these products as a result, thereby expanding the market. Collectors and designers love Paring knives, and consumers typically have a wide range of preferences that can be met by new inventions.

Paring knives Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into carbon steel, stainless steel, ceramic, others. Carbon steel is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Fruit, Vegetables. Fruit will be the dominating segment.

Driving Factors

"Advancements in technology and the popularity of reality television"

The market for knives is being driven by a number of factors, including the increasing introduction of high-tech products, the popularity of reality television programmes like Master Chef, Top Chef, Hell's Kitchen, Iron Chef, and Chopped, which have revitalised the cooking industry, and the rising demand for food due to rising disposable income. Additionally, during the projected period, there will be more chances for the Paring knives market due to the increase in restaurants and eateries. Since most cooks prefer to utilise a knife over a standard knife, the expanding number of restaurants encourages growing demand for the product and so serves as a driving factor for market expansion. The National Restaurant Association estimates that there will be more than one million restaurants operating in the United States by the year 2020. Because ceramic resists the effects of acid or juice on its surface, is rust-proof, and can maintain its sharpness for a longer period of time than other types of material, it is an innovative material that boosts consumption of the product. For instance, the three-piece ceramic knife set from Shenzhen Knives features high-quality, lightweight knives, non-rusting blades, and distinctive comfort handles. In addition, cooking reality shows like Master Chef, The Chef Shows, and others are becoming more and more well-liked, which encourages more people to cook and helps increase product consumption.

"Increased desire to enhance the aesthetic appeal of different culinary items and Growing Incomes in Developing Nations Will Drive Market Growth "

In the upcoming years, market demand is also anticipated to be driven by the growing desire to enhance the aesthetic appeal of various cuisine meals. Additionally, there is a rising demand for cutting unique shapes like chiffonade, brunoises, macedoine, and julienne. Paring knives are widely used in the building sector. Therefore, it is anticipated that substantial expansion in the construction sector will drive up demand for knives worldwide. Additionally, during the next few years, it is anticipated that demand for Paring knives would expand due to the growing significance of visual appeal in diverse cuisines. These knives are used to produce novel cuts that are popular around the world, such as brunoise, chiffonade, julienne, and macedoine. In the near future, the introduction of sophisticated knives with a variety of blade types is projected to positively affect market growth. The bulk of people on earth reside in developing countries with rising incomes. This will drive market growth by driving up spending on kitchenware like Paring knives. Household applications accounted for a sizable percentage of the market due to rising product consumption at home by consumers who select domestic products despite cheaper imports available elsewhere.

Restraining Factors

"Reduced Demand for Processed Foods Will Limit Market Expansion"

Paring knives are frequently overlooked in homes, particularly in the Asia Pacific region. Paring knife market sales are declining as a result of some regions not favoring processed foods. Because they are not truly necessary in the kitchen, paring knives are not expected to expand in popularity.

Paring knives Market Regional Insights

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"Increasing demand will cause Europe to dominate the market"

Europe has a substantial market share for Paring knives due to the high demand for dinnerware. The region is expected to expand over the course of the projection period as a result of growing consumer and restaurant demand for knives. Europe is important to the knife business because there are so many producers in this region. It is anticipated to be the regional market with the fastest growth due to its big population base and rising per capita income levels among countries like China, India, and Japan, which are significantly encouraging growth in this area.

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.

List of Market Players Profiled

• Groupe SEB (France)
• Kai (South Korea)
• Zwilling (Germany)
• Victorinox (Switzerland)
• Cutco (U.S.)
• Wusthof (Germany)
• Shibazi (China)
• Fiskars (Finland)
• Friedr. Dick (Germany)
• MAC (U.S.)
• Yoshikin (Japan)
• Chroma Cutlery (U.S.)
• Zhangxiaoquan (China)
• Kyocera (Japan)
• TOJIRO (Japan)
• KitchenAid (U.S.)
• Dexter-Russell (U.S.)
• Wangmazi (China)
• BergHOFF (Slovak Republic)
• Chan Chi Kee (Hong Kong, China)
• Cuisinart (U.S.)
• MCUSTA Zanmai (Japan)
• Robert Welch (U.K.)
• Mundial (Japan)
• Coltellerie Sanelli (Italy)
• Spyderco (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.