- Jack knife is a type of pocket knife which is used for personal safety. The product is also widely used in residential and commercial kitchens.
Key Drivers of the Global Jack Knife Market
- Demand for jack knives have increased in the last few years as a result of demand for personal protection products. Increasing number of knife manufacturers globally is driving the market growth. Companies are offering jack knives with different designs and features. These factors are expected to propel the jack knife market at a prominent pace during the forecast period 2021 to 2031.
- However, governments of different countries do not allow the usage jack knives in public places. This factor is slowing down the overall growth of the market.
- Knife sales decreased significantly in 2020 as a result of COVID-19. However, the jack knife market is expected to bounce back in 2021.
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Rising Institutional Purchase to Create New Market Opportunities
- Increasing number of institutes and private classes purchasing jack knives for personal protection is expected to create lucrative market opportunities in the coming years.
High Bargaining Power of Buyers to Restrict Market Growth
- Jack knives are available in the market with a large product range. Moreover, many small-scale manufacturers offer this product at a lower price. As a result, bargaining power of buyers is very high. This creates market slowdown for large scale jack knife manufacturers.
Asia Pacific the Dominant Market for Jack Knives
- Asia Pacific accounted for the dominant and fastest growing jack knife market in 2019. North America and Europe accounted for significant share of the jack knife market, with major players operating their global market from these regions.
- Large number of personal protection institutes and private classes are present in the North American region. These institutes purchase jack knives in bulk for their students.
Key Players Operating in the Global Jack Knife Market
The global jack knife market is fragmented in nature. Large number of small and medium size companies are present in developing countries including China, India, Brazil, South Africa, and others. Small scale companies prefer to acquire local level players, which help them to increase their overall revenue. Companies are working on product innovation and development to increase their customer base. Furthermore, key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level.
Some of the key players operating in the global jack knife market are listed below:
- Oreste Frati S.r.l. (FOX Knives)
- Spyderco, Inc.
- Cold Steel
- Leatherman Tool Group, Inc.
- W.R. Case & Sons Cutlery Company
- KAI USA LTD
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Global Jack Knife Market: Research Scope
Global Jack Knife Market, by Product
- Automatic Jack Knife
- Gravity Jack Knife
- Inertia Jack Knife
- Manual Jack Knife
Global Jack Knife Market, by Application
Global Jack Knife Market, by Distribution Channel
- Third Party Websites
- Company Owned Website
- Specialty Stores
- Hypermarkets and Supermarkets
Global Jack Knife Market, by Region
- North America
- Rest of North America
- Western Europe
- Nordic countries
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- North Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
Read TMR Research Methodology at: https://www.transparencymarketresearch.com/methodology.html
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