The global Cutting Boards Market is estimated to be valued at US$ 1.29 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cutting boards are essential kitchen tools used for chopping, slicing, and cutting food items. They are made from various materials like wood, plastic, glass, bamboo, and others. Plastic cutting boards are the most popular and affordable option for home kitchens.
Market key trends:
Increasing prevalence of wooden and bamboo cutting boards - There is a rising popularity of wooden and bamboo cutting boards among consumers as they are more eco-friendly and sustainable alternatives to plastic boards. Wooden and bamboo boards are also considered more hygienic as they can be disinfected easily. These natural materials do not harbor bacteria and are safer for food preparation. Their growing demand has boosted innovations to their design and development.
Market key trends:
The cutting boards market has been witnessing a rise in the demand for customized and multipurpose cutting boards. Manufacturers are coming up with innovative designs and styles to cater to consumer preference for aesthetically appealing and functional cutting boards. Moreover, there has been a rise in online sales of cutting boards as consumers prefer shopping from the convenience of their homes. This has encouraged manufacturers to focus on strengthening their online distribution channels.
SWOT Analysis
Strength: Cutting boards provide durability and helps prevent cuts and injuries in the kitchen. They come in various styles, sizes, and materials to suit different needs.
Weakness: Certain materials like wood are prone to bacterial growth and requires proper maintenance. Plastic boards may contain BPA which is not considered food safe.
Opportunity: Growth in foodservice industry and rise in number of households fuel the demand for cutting boards. The market sees opportunity in innovation of styles, designs and multi-purpose boards.
Threats: Presence of local manufacturers providing low cost substitutes poses pricing challenges. Strict regulations regarding use of certain materials also affects company margins.
Key Takeaways
The Global Cutting Boards Market is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing health awareness and demand for specialized kitchen tools.
Regional analysis: North America dominates the cutting boards market Currently holding around 30% share, followed by Europe and Asia Pacific. The large household sizes and established food processing industry in the US and Canada drives market growth in North America. Asia Pacific is expected to witness fastest growth at 8.5% CAGR owing to rising disposable income, western influence, and growing number of avid cooks in China, India and other developing nations.
Key players operating in the cutting boards market are Epicurean, John Boos, Edward Wohl, San Jamar, SAGE, Neoflam, Catskill Craftsmen, Proteak, Carver Board, Virginia Boys Kitchens, Totally Bamboo, Lipper International, Madeira, Fackelmann, TOPULORS. The market is highly fragmented with private labels from supermarkets and retail chains capturing major pie in budget segment. John Boos, Epicurean and Edward Wohl dominate in premium cutting board category
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