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Craft Knife Market Trends

  • Report ID: GMI11566
  • Published Date: Sep 2024
  • Report Format: PDF

Craft knife Market Trends

The craft knife industry is experiencing a trend towards customization and personalization. Consumers are seeking craft knives that can be adapted to their specific requirements, leading to an increase in customizable designs. Manufacturers are responding by offering various handle styles, blade types, and colors, enabling users to select or design tools according to their preferences. This trend enhances user satisfaction and assists brands in differentiating themselves in the market. The integration of technology into craft knives is emerging as a significant trend. Some newer models incorporate digital features such as built-in measurement guides, digital displays for precision cutting, and connectivity with mobile applications. These innovations address the demand for advanced solutions in everyday tools. The adoption of technology in craft knives increases their appeal to technologically proficient users and positions manufacturers as industry innovators. There is an increasing awareness and preference for environmentally friendly and sustainable products in the craft knife industry. This trend is driving the development of craft knives made from recycled or sustainable materials and the implementation of more environmentally conscious production practices. Manufacturers adopting these practices can attract environmentally aware customers and align with global sustainability objectives, potentially influencing their market position and consumer loyalty.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for craft knife was valued at approximately USD 402 million in 2023 and is anticipated to register a CAGR of 7.7% from 2024 to 2032, fueled by product innovations and expanding applications in crafting.

The light-duty segment dominated the craft knife industry in 2023, generating around USD 116.7 million. This segment is favored by hobbyists and artists for its precision in tasks like paper cutting and model making.

North America generated around USD 132.2 million in 2023, driven by a strong DIY culture, increased online tutorials, and the accessibility of craft tools through e-commerce platforms. This region is seeing significant interest in home-based crafting activities.

Key players in the market include Acme United Corporation, Cricut, Fiskars Corporation, and Stanley Black & Decker, among others.

Craft Knife Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 83
  • Countries covered: 19
  • Pages: 100
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