by The 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 kitchen accessories used for chopping, slicing, and dicing various food items such as vegetables, fruits, and meats. They come in various materials such as wood, plastic, bamboo, glass, and stone. Wood and bamboo cutting boards provide a rustic appeal and are considered more environment-friendly than plastic boards. However, plastic boards are durable and easy to clean.
Market Dynamics:
Rising demand for aesthetically pleasing and functional kitchen accessories is expected to drive the growth of the cutting boards market over the forecast period. Consumer preference for natural and eco-friendly materials such as wood and bamboo over petroleum-based plastic boards is also contributing to the market growth. Additionally, innovation in material such as reinforced plastic boards that offer durability as well as appealing look and feel is further fueling the market expansion. Furthermore, growing online retail platform is making cutting boards accessible to consumers worldwide, thereby supporting the market growth.
SWOT Analysis
Strength: Cutting boards made from bamboo, acacia wood, maple wood, etc. are durable and resistant to bacteria. They are aesthetically pleasing and help prevent knife marks on countertops. Many manufacturers offer sustainable and eco-friendly boards.
Weakness: Plastic boards tend to retain bacteria if not properly cleaned. Wooden boards may develop cracks or splits over time with repeated use and exposure to water. Maintaining and hand-washing certain types of boards can be difficult and time-consuming.
Opportunity: There is growing demand for cutting boards made from recycled, repurposed, and eco-friendly materials. Companies can tap opportunities in developing specialized cutting boards for different cuisines, knife styles, board materials, and price points.
Threats: Stagnant disposable incomes in some regions may limit customer spending on premium boards. Rising raw material costs and transportation expenses pose margin pressures. Switch to alternatives like food-grade plastic chopping mats can take away some market share.
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 about cross-contamination risks. The market size for 2023 is US$ 1.29 Bn.
Regional analysis: North America currently dominates the cutting boards market, accounting for over 35% share globally. However, Asia Pacific is emerging as the fastest growing regional market owing to rising disposable incomes, western influence on lifestyles, and a thriving food industry in countries like China, India, and Japan.
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, and TOPULORS. They are focusing on new product innovations to cater to diverse consumer demands and tastes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
