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| Global Cutting Boards Market |
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 versatile kitchen tools used for a variety of food preparation
tasks such as chopping, slicing and dicing of vegetables, fruits, meat and
seafood. Made from various materials like wood, plastic, bamboo, glass and
others, cutting boards come in different sizes, shapes and styles to suit
individual needs. They keep work surfaces sanitary by containing food waste and
juices released during cutting. Their non-porous and easy to clean nature makes
them convenient to use. Increased focus on home cooking and do-it-yourself meal
preparation is driving demand for multipurpose and durable cutting boards.
Market key trends:
The Global
Cutting Boards Market Scope is witnessing noteworthy trends such as
growing popularity of bamboo and plastic cutting boards. Bamboo boards are
sustainable, cruelty-free and have natural antimicrobial properties which make
them ideal for vegetable and fruit preparation. Plastic boards are affordable,
shatterproof, stain and moisture resistant, making them suitable for heavy-duty
meat and chicken slicing. Manufacturers are launching innovative cutting board
designs like reversible, extra-large, divided and magnetic boards to enhance
convenience. Rising health and hygiene awareness is also propelling the demand
for antimicrobial boards that inhibit bacterial growth. Continuous product
innovation focused on different surfaces, sizes and functionalities will favor
market expansion over the forecast period.
Porter's Analysis
Threat of new entrants: New players find it difficult to enter the market
because of the requirement of high capital investment and the presence of
established brands.
Bargaining power of buyers: Buyers have moderate bargaining power due to the
availability of a variety of material and size options offered by vendors.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power
due to the availability of substitute raw materials.
Threat of new substitutes: The threat of substitutes is low as cutting boards
offer unique functional advantages over other products.
Competitive rivalry: The market features tough competition between vendors due
to their focus on product innovation.
Key Takeaways
The global cutting boards market is expected to witness high growth, exhibiting
a CAGR of 7.3% over the forecast
period, due to increasing preference for eco-friendly and multipurpose cutting
boards.
Regional analysis
North America is expected to dominate the cutting boards market during the
forecast period. The US accounts for the major share of the regional market due
to the high demand for green and sustainable products. Changing lifestyles and
rising health consciousness are also driving the demand.
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. These players are focusing on new product launches and
partnerships to gain a competitive edge in the market.
Read More: https://www.trendingwebwire.com/growth-of-cutting-boards-market/