The cutting boards market consists of a range of versatile cutting boards that aid in food preparation tasks. Cutting boards are essential kitchen tools made of various materials like wood, plastic, bamboo, and others. They provide a sturdy and safe surface to chop, slice, and dice ingredients. Cutting boards prevent direct contact between knives and kitchen countertops, thereby protecting both countertops and knives from damage.
Cutting boards market size is expected to reach US$ 3.36 Bn Bn by 2031, from US$ 2.11 in 2023, exhibiting a CAGR of 6% during the forecast period
Key Takeaways
Key players operating in the cutting boards market are John Boos & Co, Epicurean, Joseph Joseph, Edward Wohl, San Jamar, Larch Wood, Paul Michael, Neoflam, Fackelmann, and Parker-Asahi. Key players focus on developing innovative and durable cutting boards using various materials to attract more consumers.
The Cutting Boards Market Demand is fueled by the growing need for convenient kitchen accessories, driven by rapid urbanization, rising disposable incomes, and busy lifestyles. Consumers are spending more on tools like cutting boards to simplify cooking tasks such as chopping, slicing, and dicing.
The cutting boards market is expanding globally due to increasing health-conscious consumers. International food trends and cross-cultural cuisines are popular globally. This is raising awareness regarding the correct usage of cutting boards to prevent cross-contamination, thereby propelling the market's growth worldwide.
Market Key Trends
One of the key trends in the cutting boards market is the increasing demand for versatile and eco-friendly products. Manufacturers are developing multipurpose cutting boards made of bamboo, acacia wood,hagen, and other sustainable materials that serve varied cutting and food preparation needs while being environmentally-friendly. Furthermore, the integration of functional design complementing efficient food preparation tasks is witnessing high popularity. Antibacterial treatment of cutting board surfaces is another prominent trend to maintain hygiene and ensure safety during cutting food items.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established distribution channels lower the threat of new entrants. However, brands enjoy high customer loyalty.
Bargaining power of buyers: Buyers have high bargaining power given the availability of substitutes and undifferentiated products. Price is an important consideration for buyers.
Bargaining power of suppliers: Suppliers of raw materials like plastic, wood, bamboo have moderate bargaining power given the availability of substitute materials. However, certifications raise switching costs for suppliers.
Threat of new substitutes: Paper boards and hybrid boards pose a threat, although their functionality remains limited compared to plastic and wood boards.
Competitive rivalry: Intense competition among existing players on pricing, product differentiation and private labeling promotes competitive rivalry.
Geographical Regions
North America accounts for the largest share of the global cutting boards market in terms of value owing to high per capita consumption and product premiumization. The developed markets in Europe and Japan also contribute significantly to the revenues.
The Asia Pacific region is expected to witness the fastest growth during the forecast period on account of rising health-consciousness, growing food processing industry and rapid urbanization in countries like China and India. Improving economic conditions are anticipated to bolster demand for cutting boards across both residential and commercial segments in the emerging Asian markets.
Get This Report in Japanese Language - カッティングボード市場
Get This Report in Korean Language -커팅 보드 시장
About Author:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
Comments
0 comment