Table Knife Market

The article provides a detailed analysis of the global table knife market, highlighting trends in consumption, production, imports, and exports. With a focus on key players such as the United States, China, and Japan, the market performance is forecasted to continue its upward trajectory with an anticipated CAGR of +1.6% for consumption and +3.5% for value from 2022 to 2030. The United States remains the largest consumer of table knives, while China dominates in production and exports. The article also covers average import and export prices, showcasing growth rates and fluctuations over the years.

Market Forecast

Driven by increasing demand for table knives worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 635M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $2.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Table Knives

After two years of growth, consumption of table knives decreased by -3.7% to 560M units in 2022. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, global consumption attained the peak volume at 582M units in 2021, and then fell in the following year.

The global table knife market size fell to $1.7B in 2022, reducing by -7.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $1.8B, and then dropped in the following year.

Consumption By Country

The United States (177M units) remains the largest table knife consuming country worldwide, accounting for 32% of total volume. Moreover, table knife consumption in the United States exceeded the figures recorded by the second-largest consumer, China (67M units), threefold. India (51M units) ranked third in terms of total consumption with a 9% share.

In the United States, table knife consumption increased at an average annual rate of +13.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (-4.5% per year) and India (+0.9% per year).

In value terms, Japan ($381M), the United States ($255M) and India ($119M) constituted the countries with the highest levels of market value in 2022, together accounting for 45% of the global market. China, Pakistan, Indonesia, the UK, South Korea, Brazil, Bangladesh, France, Italy and Spain lagged somewhat behind, together accounting for a further 30%.

Among the main consuming countries, South Korea, with a CAGR of +12.3%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of table knife per capita consumption in 2022 were the United States (528 units per 1000 persons), Spain (286 units per 1000 persons) and South Korea (225 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +12.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Table Knives

In 2022, production of table knives decreased by -6.3% to 591M units for the first time since 2019, thus ending a two-year rising trend. The total output volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 23%. Global production peaked at 631M units in 2021, and then fell in the following year.

In value terms, table knife production reduced to $1.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by 22%. As a result, production reached the peak level of $1.8B, and then dropped in the following year.

Production By Country

China (365M units) constituted the country with the largest volume of table knife production, comprising approx. 62% of total volume. Moreover, table knife production in China exceeded the figures recorded by the second-largest producer, India (52M units), sevenfold. Japan (21M units) ranked third in terms of total production with a 3.6% share.

In China, table knife production increased at an average annual rate of +11.0% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+1.3% per year) and Japan (-5.5% per year).

Imports

World Imports of Table Knives

In 2022, purchases abroad of table knives increased by 63% to 311M units, rising for the second consecutive year after two years of decline. In general, imports showed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, table knife imports surged to $472M in 2022. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 30% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

The United States dominates imports structure, accounting for 178M units, which was approx. 57% of total imports in 2022. The following importers - Italy (14M units), South Korea (12M units), France (11M units), Germany (9.8M units), the UK (7.9M units) and the Netherlands (7.2M units) - together made up 20% of total imports.

The United States was also the fastest-growing in terms of the table knives imports, with a CAGR of +20.9% from 2012 to 2022. At the same time, South Korea (+8.8%), the Netherlands (+6.3%), Italy (+6.0%), France (+5.5%) and the UK (+3.2%) displayed positive paces of growth. Germany experienced a relatively flat trend pattern. While the share of the United States (+37 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the UK (-1.9 p.p.) and Germany (-4.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest table knife importing markets worldwide were the United States ($124M), South Korea ($63M) and Germany ($32M), with a combined 46% share of global imports.

In terms of the main importing countries, South Korea, with a CAGR of +13.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average table knife import price amounted to $1.5 per unit, reducing by -28.2% against the previous year. Over the period under review, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 when the average import price increased by 2.8%. As a result, import price attained the peak level of $2.6 per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($5.3 per unit), while the United States ($0.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Table Knives

For the sixth year in a row, the global market recorded growth in shipments abroad of table knives, which increased by 42% to 341M units in 2022. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2021 when exports increased by 92% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, table knife exports reached $329M in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 51%. Over the period under review, the global exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports By Country

China dominates exports structure, recording 299M units, which was near 88% of total exports in 2022. The following exporters - Brazil (6.2M units) and Vietnam (5.6M units) - each amounted to a 3.5% share of total exports.

China was also the fastest-growing in terms of the table knives exports, with a CAGR of +29.8% from 2012 to 2022. At the same time, Vietnam (+7.0%) and Brazil (+3.8%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +45 percentage points.

In value terms, China ($162M) remains the largest table knife supplier worldwide, comprising 49% of global exports. The second position in the ranking was held by Brazil ($20M), with a 6.1% share of global exports.

In China, table knife exports increased at an average annual rate of +16.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+2.9% per year) and Vietnam (+2.6% per year).

Export Prices By Country

In 2022, the average table knife export price amounted to $1 per unit, reducing by -28.5% against the previous year. In general, the export price faced a abrupt slump. The pace of growth appeared the most rapid in 2016 when the average export price increased by 3.4%. The global export price peaked at $3.2 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($3.2 per unit), while China ($0.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (-0.8%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform