2024 Knife Making Industry Survey

The Current State Of The Knife Making Industry

The knife industry isn’t just surviving - it’s thriving. The industry has a market value of over $12 billion and shows likeForged In Firehave given bladesmiths the spotlight in front of a national audience. Despite the size and growing popularity of the industry, we noticed one thing seemed to be missing that many other global industries have: an industry survey. 

The team at Red Label Abrasives set out to create an industry survey in 2020 that would shed light on the health of the market, the obstacles involved with production, the current preferences of both knife makers and consumers, and what the future of the industry may hold. We've committed to updating our survey annually where we survey over 100 different bladesmiths throughout the country each year. The results of the survey for 2024 can be found below. 

Market Performance

Sales

2024 is the second year in a row where a majority of makers have reported lower sales compared to the year prior. 53% of maker have indicated that their sales have not increased this year so far compared to last year. The declines in sales coincide with the increase in interest rates and the lower spending power consumers have.

Despite rising costs for materials due to inflation, a majority of makers haven't increased the prices of their knives in the last three years. The survey found that 52% of knife makers have not raised their prices in the last two years compared to 54% last year. The Consumer Price Index has risen 3.2% in the last year.Now is likely as good a time as ever for makers to consider increasing their prices. 

When polled about prices, the largest percentage of makers (44%) list their knives for sale in the range of $101-250. Another 26% of makers list their knives for $251-500. Only 4.9% of makers charge $500 or more, which is down by 6% from 2023. This data suggests that many knife makers have actually decreased their prices in the last year. 

A majority of knife makers (70%) indicated that most of their sales have come from referrals this year. Digital platforms followed with 8.5% of knife makers crediting social media for a majority of their sales and 5% of makers crediting online marketplaces like Ebay and Etsy. Digital still remains one of the top mediums for knife sales, but it would appear that many makers have spent the last four years building up a strong referral network. New makers who don't have a network built to earn work from will likely want to start with social media. 

Current Obstacles

The most prohibitive obstacle for growth in the industry continues to be the cost of materials and equipment, with 44.7% of knife makers citing material and equipment costs as a major issue. Equipment can be very expensive for makers trying to produce at scale. A 2x72 grinder alone can cost anywhere in the range of $1,000 to $6,000. 

Getting knives in front of the right audience also appears to be a larger issue this year. Marketing effectively rose to become the second biggest hurdle makers face with 17.7% of makers naming marketing their biggest obstacle. We recommend that makers continue to send us photos of the knives they produce so that we can continue to promote them through our Maker Monday emails. 

Industry Outlook

Despite two years without sales increases, the outlook for the knife making industry appears to be positive according to makers. An overwhelming 64.5% of knife makers expect the knife making industry to grow in 2025. Positive sentiment has been declining in the past several years. Makers aren't as optimistic as they were in 2023 when 73% of makers expected the market to grow or 2022 when 84% of makers expected growth. Nevertheless, there is still a strong optimism for the coming year.  

Preferences Of Consumers & Professionals

Favorite Blade Material

Makers and consumers both agree on the best blade material. Our survey found that 58% of consumers prefer high carbon steel while 64% of knife makers selected high carbon steel as their favorite blade material. This makes sense considering high carbon blades are generally more wear-resistant and can be honed to an even sharper edge. Stainless steel was the second most popular blade material. 

Favorite Handle Material

There was also alignment between consumers and makers with handle materials. Wood was the most popular material for consumers at 66% of all purchases. We found that 67% of knife makers also selected wood as their favorite handle material. Micarta came in second with 12% of consumers favoring the material and 15% of knife makers citing micarta as their favorite. 

Favorite Blade Shape

Drop point has held the top position for the last 4 years as the favorite blade shape. 53% of consumers and 42% of makers identified drop point as their favorite blade shape in 2024. Drop point is revered for its long cutting edge and ability to perform precision work. Drop point is great for hunting, which also coincides with the increase in hunting knife production we saw in this year's survey. Clip point was the second most popular with 11% of consumers favoring the style and 15% of the vote from makers. 

Most Popular Knife To Produce

Hunting knives continue to take market share as the most popular knife to produce. 41.8% of knife makers indicated that hunting knives were their most popular knife. This was an increase of 1% from 2023. Culinary knives (21%) surpassed EDC knives (14.9%) for second place this year. Utility knives remained the fourth most popular knife type at 8.5%. EDC (219%) and culinary (15%). 

Preferred Grinder

For the purposes of the survey, grinders were broken down into two categories: brand and belt size. When it comes to brand preference, Ameribrade has been the preferred brand for the last three years with 16% of makers using an Ameribrade grinder (an increase of 2% from 2023). Non-branded home-built grinders came in second with 13.5% of makers using a home-built grinder. 

Belt size preference was less evenly dispersed. 74.5% of knife makers reported using a 2" x 72" belt grinder, which makes sense. 2 x 72 belts are widely considered the most popular option for professional knife making. 2 x 42 inch belt grinders were the second most popular size with 10.6% of knife makers using them. 

Where Do The Pros Go To Learn?

Knife making is a craft that has historically been taught through mentorships and apprenticeships. However, the rise of digital content has made knife making lessons even more accessible. 

Over half of all knife makers (55.3%) use YouTube to learn new skills and improve their craft. Other popular resources included in-person classes (12.1%), word of mouth advice (12.1%), and forums (9.2%). 

What Will Be The Next Big Trend For The Knife Making Industry? 

Answers varied greatly when asked what the future would bring for the knife making industry. 8% of knife makers cited the increasing popularity of damascus blades as a trend that would increase in 2025. Other makers thought that small fidget knives or high-end pocket knives could take the spotlight next year. Only time will tell, but these trends are certainly worth exploring with your own knives if you haven't yet. 

About Red Label Abrasives

Red Label Abrasives is a family-owned abrasive manufacturer that has been producing custom-made abrasives for over 35 years. Red Label Abrasives specializes in producing sanding belts for the knife community. In fact, we sell knife making belt kits that include an assortment of belts for the production of knives. Our team takes great pride in offering exceptional customer service and unrivaled technical support. You can speak with an abrasive specialist on our team by filling out a contact form or calling (844) 824-1956.