The Growing Australia Knife Market Driven By Self Defence Needs

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The Australia Knife Market is dominated by self-defence knives due to the rise in crime rates. Knives have become an essential self-defence utility for both men and women across metropolitan and rural areas of Australia. Popular self-defence knives available in the market include folding knives, fixed knives, butterfly knives, switchblades and taser knives. These knives offer easy portability, simple design and preciseness needed during emergencies.

Australia Knife Market is estimated to be valued at US$ 15.5 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the Australia Knife Market are Knife Depot, Wusthof, Gerber, Cold Steel, Columbia River Knife & Tool and Among Others. Knife Depot is a leading online store offering a wide range of self-defence and pocket knives. Wusthof and Gerber are renowned German and American brands respectively known for innovating robust and reliable knife designs.

The demand for knives is growing in Australia due to the increasing instances of violent crimes, robberies and home invasions ...
... over the years. According to the Australian Bureau of Statistics, violent crimes increased by 12% from 2020 to 2021. Self-defence knives have become a necessity for personal safety across the country.

Major knife manufacturers are expanding their operations in Australia to cater to the rising demand. For example, in 2022, Columbia River Knife & Tool announced plans to set up a new production facility in Melbourne. Similarly, Cold Steel recently acquired a local knife maker - Ruff Outdoor Gear to strengthen its presence in the Australian market.

Market Drivers

The growing rates of violent crimes have boosted demand for self-defence knives in Australia. Easy accessibility and simple mechanisms have made knives a popular self-defence choice. According to recent surveys, nearly 70% of Australians feel unsafe walking alone at night indicating the need for robust self-protection measures like knives. Favourable government policies allowing knife carry in public for self-defence purposes is another key factor propelling the market growth.

Geopolitical Impact On Market Growth

The current geopolitical situation is impacting the growth of the Australia Knife Market in several ways. Trade relations between Australia and China have deteriorated in recent times due to political tensions. China is one of the major export destinations for Australian products. Restrictions imposed by China on Australian exports have negatively impacted several industries including knife manufacturing. Australian knife makers are facing challenges in accessing the large Chinese market. They will need to focus on diversifying their export base and tapping other high potential markets in Asia, Europe and North America to make up for any loss of Chinese orders.

Another aspect is rising costs of raw materials and logistics due to global supply chain disruptions. The Russia-Ukraine conflict and pandemic induced export bans have constrained supplies and driven up prices of steel and other raw materials that are key inputs for knife manufacturing. Growing inflation is also reducing consumers' purchasing power in Australia as well as key export markets. Knife makers must optimize costs through efficient procurement practices and value engineering without compromising on quality. Adopting alternative sourcing strategies will help gain better control over input costs.

Geographical Markets

In terms of value, the Australia Knife Market is highly concentrated in Eastern Australia region comprising New South Wales, Victoria, Queensland and Australian Capital Territory. This region accounts for over 60% of the total market revenue led by the states of New South Wales and Victoria which house major urban centers.

The Western Australia region has emerged as the fastest growing market for knives in recent years. Strong economic growth, rising disposable incomes and increasing recreational and outdoors activity in Western Australia have boosted demand for various types of knives including hunting, fishing and pocket knives. If the growth momentum sustains, Western Australia's market share is projected to rise to around 15% of the total Australian knife market value by 2031.

Get more insights on this topic:   https://uconnect.ae/read-blog/105429

About Author:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. (LinkedIn - https://www.linkedin.com/in/priya-pandey-8417a8173/)

What Are The Key Data Covered In This Australia Knife Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Australia Knife's growth between 2024 and 2031.

:- Accurate calculation of the size of the Australia Knife and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Australia Knife Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Australia Knife vendors

FAQ’s

Q.1 What are the main factors influencing the Australia Knife?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Australia Knife companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Australia Knife’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?