Global Commercial Kitchen Knives Market 2019-2023 | Growing Preference for Certified Commercial Kitchen Knives to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Jan 7, 2019--The global commercial kitchen knives market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by .
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Technavio predicts the global commercial kitchen knives market to post a CAGR of over 5% by 2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the increase in a number of end-user establishments. The increase in a number of end-user establishments such as restaurants and hotels will result in a simultaneous growth of the global commercial kitchen knives market, as these knives find significant usage in commercial kitchens of such foodservice establishments. For instance, in July 2018, Jollibee, a Philippine-based fast food chain, announced its plans to open 13 new outlets in the UAE by the end of 2020. Therefore, with such increasing number of openings, the global commercial kitchen knives market is expected to register a positive outlook during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growing preference for certified commercial kitchen knives as one of the key emerging trends in the global commercial kitchen knives market:
Global commercial kitchen knives market: Growing preference for certified commercial kitchen knives
Various manufacturers of commercial kitchen knives are trying to ensure compliance with safety and hygiene standards that have been prescribed by various organizations such as National Sanitary Foundation (NSF) and HACCP and Association of Kashrus Organizations (AKO). As per NSF, the knife manufacturers must maintain the sanitary standards. The commercial kitchen knives with NSF certificate ensures that the material used for manufacturing commercial kitchen knives are not harmful to human health. Similarly, HACCP regulations are provided for reducing the food-borne illness and food poisoning. HACCP states that different types of knives must be used for different products such as meat, dairy, and fish. As per HACCP, different color codes should be given to the knife handles according to applications. AKO has also imposed various regulations for ensuring Kosher compliance in commercial kitchens. The growing end-users demand for quality and safe products is encouraging many vendors in the commercial kitchen knives market to manufacture superior quality products and ensure compliance with these standards.
“The growing demand for durable and high-quality commercial kitchen knives is encouraging some of the market players to increase their focus on introducing new units of commercial kitchen knives with improved design and quality. This helps the vendors to leverage on the high market demand and increase their product adoption and market share at the same time. The improvements in design are mainly in terms of better handle, the material used for knife handles and blades, sharpness, and strength of knives. Therefore, with such improvements, the market is expected to improve upon sales and boost the growth of the overall market.” says a senior analyst at Technavio for research on food service.
Global commercial kitchen knives market: Segmentation analysis
This market research report segments the global commercial kitchen knives market by product (chef’s knives, meal knives, bread knives, utility knives, Other knives) and geographical regions (APAC, EMEA, and the Americas).
The APAC led the market in 2018 with a market share close to 42%, followed by the Americas and EMEA respectively. The increase in urbanization and the simultaneous rise in spending on food out-of-home are expected to drive the market in APAC.
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Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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