by The global Cutting Boards Market is estimated to be valued at US$ 1.29 Billion In 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cutting boards are increasingly finding space in modern kitchen across regions owing to growing appeal for well-designed cutting and food preparation surfaces. Made from various materials including wood, plastic, bamboo, glass and other composites, cutting boards come in various shapes, sizes and textures to suit different culinary needs. Cutting boards provide hygienic, non-porous and easy to clean surfaces for slicing, dicing and chopping of meats and vegetables. Their demand has been rising along with growing interest of home chefs and consumers in culinary arts and home-cooked meals.
Market Key Trends:
One of the key trends spurring growth in cutting boards market is the rising popularity of open concept kitchen islands. Kitchen islands are increasingly being designed as food preparation centers with integrated cutting boards. Their inclusion is driving renovations and upgrades in kitchen space. Many luxury homes now feature large islands made of granite, marble or synthetic surfaces that double up as food display and cutting areas. This is presenting lucrative opportunities for cutting board manufacturers to explore composite material innovations and customized board designs compatible with integrated island formats.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the cutting boards market is moderate as its manufacturing requires substantial investment in machinery and production lines. Also, established brands have strong brand loyalty.
Bargaining power of buyers: The bargaining power of buyers in the cutting boards market is high as the market has numerous established players providing undifferentiated products. Buyers can easily switch between brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers for raw materials like wood, plastic and rubber required for manufacturing cutting boards.
Threat of new substitutes: The threat of substitutes is moderate as there are few direct substitutes for cutting boards. However, other materials like disposable boards pose a minor threat.
Competitive rivalry: The competitive rivalry in the cutting boards market is high owing to the presence of numerous global and regional players competing on pricing and innovation.
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 demand for kitchenware products from both residential and commercial users.
Regional Analysis
North America dominated the global cutting boards market in 2022, accounting for around 35% share. High consumption of kitchenware products due to increasing number of home chefs and food enthusiasts is driving the market in the region. Asia Pacific is expected to be the fastest growing market, expanding at a CAGR of over 8.5% during the forecast period. Rapid population growth, urbanization and rising middle class in countries like China and India offer lucrative opportunities.
Key players
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. John Boos & Co. and Edward Wohl Handcrafted are among the leading manufacturers known for their premium quality products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
