The global Cutting Boards Market is estimated to be valued at US$ 1.29 Billion In 2022 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 used as a flat surface to cut or chop foods like vegetables, fruits, meat and others. They are available in various materials like wood, plastic, glass and marble. However, plastic cutting boards are dominating the market owing to their inexpensive, water-resistant and easy to clean features compared to wooden boards.
Market key trends:
One of the key trends in the cutting boards market is the growing popularity of multipurpose cutting boards. Manufacturers are developing multipurpose cutting boards that can be used for various tasks like chopping, slicing and serving. They come with slotted designs that allow chopped foods and juices to drain away during food preparation. Their versatility is driving greater adoption among home cooks and restaurants owners. They are convenient to use and help save counter space in kitchens.
Segment Analysis
The global cutting boards market is segmented into material, product type, distribution channel and end use. Based on material, the market is segmented into wood, plastic, bamboo and others. Among these, the plastic segment accounts for the largest market share owing to its easy availability and low cost as compared to other materials. Plastic boards are more durable and require low maintenance. However, the bamboo segment is expected to witness the fastest growth during the forecast period due to increasing consumer preference for eco-friendly products.
Key Takeaways
The global Cutting Boards Market size is expected to reach US$ 1.29 Billion By 2023, registering a CAGR of 7.3% during the forecast period. Factors such rising demand for multipurpose kitchen accessories and growing urbanization are expected to drive market growth.
Regional Analysis
North America dominates the global cutting boards market and accounted for over 30% share of the overall market revenue in 2022. This is attributed to high disposable income and growing trend of modern kitchen appliances in countries like the US and Canada. Asia Pacific is expected to be the fastest growing region during the forecast period owing to rising middle class population and their increasing spending on home décor products in countries like China and India.
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. Epicurean and John Boos are the market leaders due to their wide product portfolio and global sales network.
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