Among the various types of safety knives are those with slice handles and nonslip grips. These products are much safer to use, and greatly reduce the risk of injuries or lacerations. In some cases, slice tools have resulted in zero lacerations, and the blades can last up to eleven times longer than metal knives. In addition, they require fewer blade changes. These benefits have led to a surge in sales for Slice products. Modern safety knives are capable of cutting strapping, opening boxes, puncturing shrink wrap, and many other tasks. While knives have been around for millennia, they were largely developed as safety tools for the workplace. In the past decade, they have become ubiquitous in many industries, including restaurants, hospitals, and even the home.
Competitive Landscape
Major companies contributing to the global safety knives market include Irwin Industrial Tools, Hyde Tools, Inc., Techni Trade, The Safety Knife Company, Slice, Inc., Martor KG, HTK Company, Stanley Black & Decker, Inc., Olfa Corporation, Pacific Handy Cutter, Inc., Milwaukee Electric Tool Corporation, and Apex Tool Group, LLC.
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Drivers
Increasing demand for safety cutting tools for surgical and household applications amidst growing cases of vertebral artery injuries as a result of intimal tears is expected to augment the growth of the safety knives market during the forecast period.
Furthermore, the growing prominence of slicing products and multi-functional knives across the ecommerce sector is expected to boost the growth of the safety knives market over the forecast period.
The Epitome of the COVID-19 Aftermath
In a stressed out pandemic period, the global safety knives market experienced a de-acceleration during the first wave of the virus. The pandemic-fueled halt of manufacturing plants, cancellation of shipments, and supply chain disruptions have resulted in poor sales of these products, thus impacting the market’s growth. However, the market is regaining its momentum with a gradual ease in restrictions.
Key Takeaways
- The safety knives market is anticipated to grow at a CAGR of % during the forecast period owing to the increasing demand from the residential sector and a rising number of product launches. For instance, in March 2022, Mundial, a major cutlery manufacturer, launched an advanced sharpening system, the SmartKnives System, for kitchen applications.
- In the territorial breakdown, the Asia Pacific region is estimated to emerge as a clear leader in the global safety knives market on the heels of increasing adoption across the food and beverage (F&B) industry and rising affordability among low-income families.
- Coming in at number two in this timeframe should be the North American region, which is augmenting the global safety knives market on account of high demand from the healthcare sector and increasing adoption of RFID-embedded knives across the warehousing sector.
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