The knife market is growing – Here’s why it matters for retailers

Any hunter, shooter, or outdoor enthusiast knows it’s unwise to head out into the wilderness without a good knife at your side. Whether it’s a precise blade used for skinning and field dressing, a machete that helps gain access to remote spots, or an all-round technical knife that does it all on the camp, most who enjoy the outdoors are never far from a blade they trust. And that trust is something that has helped the knife market grow in recent years across the many different sectors that IWA Outdoor Classics covers.

Knife presentation at the IWA OutdoorClassics

At the 2024 edition of the show, there were no fewer than 120 different exhibitors offering knives and blades of different kinds to the trade, one of the highest-ever figures for this category. This is a sure sign that no matter whether you deal in hunting, shooting sports, action sports, or the outdoors, the knife market is one to keep a keen eye on, especially as a retailer. It’s a market that is growing and showing signs of a positive future, not only on the show floor at IWA but also among major brands and manufacturers in the sector.

Why do knives matter for hunting and shooting retailers?

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“The knife market is experiencing a significant growth trend. There is an increasing demand for high-quality, multifunctional knives as consumers become more discerning and knowledgeable about their gear.”

Philipp Klüpfel, Head of Sales, Peltonen Knives

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Philipp should know. Peltonen Knives, based in southern Finland, is a specialist in handcrafted knives for various outdoor applications and has been undergoing a very successful period, significantly boosting its international presence with an increase in dealer partnerships. Philipp and his team believe the market is currently rife with opportunities, such as customisation and personalisation, technological advancements, and online sales and branding channels that retailers could and should be taking advantage of, as his company is.

“To capitalize on these opportunities, the industry and dealers should invest in digital marketing through SEO, social media advertising, and influencer partnership,” he explains. “Strengthening customer relationships through social media engagement, personalised recommendations, and loyalty programmes is key.

“Ensuring high standards of quality and authenticity, expanding distribution channels through partnerships and presence at trade shows, and leveraging data analytics to understand customer behaviour and market trends are also essential strategies. By focusing on these opportunities and strategies, the knife industry and dealers can effectively meet the evolving demands of the market, drive growth, and establish a strong competitive edge.”

This last point, on the growth of digital commerce in the area, is one reason in particular why the growth of the knife market should matter to retailers. Massimo Centazzo, Export Area Manager for Italian brand Fox Knives, explains: “Digital engagement presents a massive opportunity. As online shopping and social media continue to grow, the industry and dealers should invest in building a strong online presence, leveraging e-commerce platforms and using social media to connect with customers offering personalised online experiences.”

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Fox Knives is a long-standing exhibitor at IWA OutdoorClassics.

What are the trends in the knife market?

Whether your store is already a well-known hub for knife sales, or you are considering stocking some for the first time, to take advantage of a burgeoning market, you need to know the current trends.

Industry experts such as Philipp and Massimo believe some of the key trends include customers seeking out premium materials, knives with greater customisation, more portable and compact knife designs, solid multi-functionality, and also a focus on knives that are made with sustainable materials in a more eco-friendly way.

Philipp says: “When it comes to outdoor knives, the trends we see are for enthusiasts are favouring knives with added survival features like fire starters, whistles, and paracord handles. There is also a trend towards more compact, lightweight knives that are easy to carry but still robust enough for heavy-duty tasks.”

Massimo adds: “We are also seeing a rise in the popularity of compact, lightweight designs, especially among outdoor enthusiasts who prioritise portability. Sustainability is another emerging trend, with more consumers looking for knives made from eco-friendly or recycled materials. Lastly, customisability and personalisation are becoming important, as customers want products that reflect their style and preferences.”

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Knives in different designs and colours — The trend is towards personalisation: knives in different designs.

The future of the knife market – making the most of growth

In Europe at least, the future of the knife market looks fairly bright. Like most other sectors, there has been some turmoil and uncertainty over major global events such as wars in Europe and the Middle East and the U.S. election, but in general, the growing trend of more and more people seeking to spend time doing outdoor activities seems to be outweighing that.

Philipp says: “Offering a variety of knives, from hunting and survival to everyday carry (EDC) and multitools, allows retailers to tap into this expanding market. Knives are also highly collectable, and many enthusiasts are always on the lookout for the latest models and limited editions, providing a continuous stream of repeat customers.

“Having a robust selection of knives can also enhance your store’s reputation as a well-rounded outdoor gear provider. It positions your business as knowledgeable and dedicated to providing the best tools for the job, which can build customer trust and loyalty.”

This versatility of knives has helped them thrive in an uncertain world. They are a great add-on sale for customers buying other products, but they are also important purchases made in their own right by many hunting, shooting, and outdoor enthusiasts. As Massimo explains, people need knives when they are doing outdoor activities.

“By stocking a variety of high-quality knives, dealers can meet the diverse needs of their customers, increase their product offering and drive more sales.”

So, the real answer to the question of ‘why the growing knife market matters to retailers’ has a simple answer. It matters because it represents a relatively steady growth opportunity in a less-than-stable world. It gives retailers the chance to not only boost sales but also boost their reputation among customers as genuine speciality stores.