The global self defense products market size is expected to reach USD 3.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.9% over the forecast period. The market growth is primarily attributed to rising incidences of civil unrest, along with the need for personal safety on recreational activities such as camping and hiking.
Hunting is considered to be one of the most common outdoor activities among the Americans, which, in turn, is driving the demand for folding knives to serve the purpose of self defense, along with other tasks. In 2016, about 11.5 million enthusiasts aged 16 years and above participated in hunting activities in U.S.
Folding knives accounted for the largest share of 71.2% in 2018. Due to the introduction of folding knives, the product has undergone various modifications with respect to utility features, designs, raw materials used for the blades, knife structures, and suitable applications. Manufacturers are also focusing on developing compact products integrated with more than one feature.
For instance, Gerber Auto Knife is a fully automatic equipped tool made of stainless steel designed with an oversized release button for the easy use. Gerber offers folding Tanto Knives equipped with torch lights. Such integrations will further enhance the capabilities and functioning of the folding knives, which, in turn, will favor the market growth.
Pepper sprays have been recording prominent sales and is expected to expand at a CAGR of 5.7% over the forecast period. They are gaining an increasing traction in the global market owing to growing acceptance among women as a convenient self defense product. Due to growing population of tech savvy people and popularity of online shopping, manufacturers are resorting to convenient methods of distribution to reach out to the large customer base. Third party retailers such as Amazon.com, PepperEyes.com, Flipkart, and Xboom Utilities are some of the common suppliers of personal defense products.
North America accounted for the largest share of 30.0% in 2018. Majority of the demand is generated by the U.S. consumers using folding knives, pepper sprays, and stun guns. Rapid increase in investments in research and development of less harmful self-defense weapons for the civilians is expected to boost the market growth over the forecast period. Moreover, growing crime rates in Canada is resulting in government laws to undergo significant modifications, which, in turn, is expected to widen the scope of the market.
The companies operating in this market are focusing on developing new products with integration of multiple utility tools with an aim to meet the customer’s convenience in performing indoor and outdoor activities, along with self-defense purposes. For instance, Buck knives Inc. manufactures folding knives that are suitable for heavy duty applications.
Click the link below:
Further key findings from the study suggest:
- North America accounted for the largest share of 30.0% in 2018. APAC is estimated to be the fastest market with a CAGR of 6.4% from 2019 to 2025, majorly driven by India and China
- Sporting goods store accounted for the largest share of more than 55.0% in 2018 owing to easy availability of the products. Online distribution is expected to witness the fastest growth over the forecast period
- By product, folding knives accounted for the largest share of 71.2% in 2018. Pepper sprays have been recording prominent sales and are expected to expand at a CAGR of 5.7% over the forecast period
- Some of the key operating players operating in the global self-defense products market are Victorinox; Unisafe Technologies; GERBER GEAR; SABRE Security Equipment Corporation; Mace Security International, Inc.; Axon Entereprise Inc.; Salt Supply Company; and Self Defense Weapons.