As we approach 2023, the knife sterilizer market is already making substantial strides, positioning itself for a valuation of US$ 657.5 million. The anticipated Compound Annual Growth Rate (CAGR) of 3.4% from 2023 to 2033 underscores the indispensable role these sterilizers play in preserving public health. By 2033, the market is expected to achieve an impressive valuation of US$ 918.5 million, marking a notable milestone in the collective pursuit of food safety.
The significance of knife sterilizers in today’s culinary landscape cannot be overstated. The ever-present concern of foodborne illnesses, stemming from contaminated knives, utensils, or cutting boards, poses substantial health risks. In response to this pressing issue, the meticulous cleaning and sterilization of these essential kitchen tools have become imperative. The escalating demand for stringent hygiene practices has prompted both individuals and industries to embrace various sterilization equipment, with knife sterilizers leading the charge in this vital movement.
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Rising adoption of knife sterilizers across industrial kitchens, households, restaurants, and meat industry is a key factor driving the global knife sterilizer market.
Knife sterilizers are machines used for sterilizing various types of knives. These machines play a key role in removing pathogens from knives and thus help to reduce the chances of disease spread.
Growing prevalence of foodborne diseases along with increasing need for improving food safety across food manufacturing and processing industry will therefore continue to push the demand for knife sterilizers during the forecast period.
Key Takeaways:
- Based on product, pasteurization holds a significant value share of the knife sterilizer market.
- By automation, demand for automatic knife sterilizers is likely to rise at the fastest CAGR through 2033.
- Europe is expected to hold around 40% share of the global knife sterilizer market in 2023.
- North America is set to account for 38% of revenue share in the worldwide knife sterilizer market in 2023.
- The U.K. knife sterilizer market is expected to grow at a moderate CAGR during the assessment period.
“Widening application of knife sterilizers across industrial kitchens and households due to growing focus towards improving food safety and reducing threat of infection spread is expected to boost the global knife sterilizer over the next ten years,” says a lead analyst at Future Market Insights.
Competitive landscape:
Top 5 manufacturers of knife sterilizers are BEAR ELECTRIC APPLIANCE, Morphy Richards, Midea, Panasonic, and Haier. Together they hold around 20% to 30% share of Knife Sterilizer Market.
Majority of the players are adopting strategies such as new product launches, mergers, partnerships, acquisitions, and collaborations to improve their revenue share.
Key Players Profiled in the Report:
- BEAR ELECTRIC APPLIANCE
- Morphy Richards
- Midea
- Panasonic
- Haier
- Gree
- Micoe
- Joyoung
- Hangzhou ROKI Technology
- Daewoo
- SUPOR Small electrical appliance manufacturing company
- ROAD
- Hains cCo.Ltd, among others.
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Market Segmentation Analysis:
By Product:
- UV knife Sterilizer
- Hot Water Knife Sterilizer
- Knife Sterilizer with Hand Wash Basin
- UV Lamp for Knife Sterilizer
- Immersion Heater Element for Hot Water Knife Sterilizers
- Pasteurization
- UHT
- Others
By Automation:
- Automatic
- Semi-Automatic
By Application:
- Industrial Kitchens
- Butchers
- Household
- Commercial
- Hospital
- Restaurants
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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