Cutting boards made from environment-friendly materials like bamboo are becoming increasingly popular among health-conscious consumers as they are durable and easier on the environment compared to plastic. Cutting boards made from bamboo are sturdy, renewable sources that minimize damage to kitchen knives during food preparation. They are bacteriostatic, meaning their natural properties make it harder for bacteria to survive and spread on the surface. 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 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growth Accelerated by Sustainable Production Methods
The increasing demand for cutting boards made from sustainable raw materials such as bamboo has led producers to invest in renewable and recyclable production methods. Leading manufacturers are focusing on utilizing recycled materials in the manufacturing of cutting boards to meet the rising demand for eco-friendly products from health-conscious consumers. Additionally, the implementation of sustainable manufacturing practices allows producers to minimize the environmental footprint of operations. This has significantly aided market growth over the past few years. Consumers are also willing to pay higher prices for cutting boards produced from recycled wood or plant-based materials using green production techniques.
Segment Analysis
The global cutting boards market is segmented by material type into wood, plastic, bamboo, stone, glass, and others. Among these, the plastic segment dominates the market with over 30% market share. Plastic cutting boards are affordable and durable compared to wooden boards. They are easy to clean and maintain and do not absorb knife cuts or odors like wood boards. This has made plastic the most popular material for cutting boards.
Key Takeaways
The global Cutting Boards Market Scope is expected to witness high over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 6.8% during this period and reach a size of US$ 1.29 billion by 2023.
Regional analysis:
North America currently holds the largest share of over 35% of the global cutting boards market. Increased health awareness and growing demand for hygienic and convenient kitchen accessories are driving market growth in the region. Europe is expected to be the fastest growing regional market owing to popularity of home-cooking and rising disposable income in countries like Germany, UK and France.
Key players:
Key players operating in the cutting boards market are Nomad Foods Ltd., Bakkavor Foods Ltd., General Mills, McCain Foods, Premier Foods Group Ltd., 2 Sisters Food Group, Greencore Group Plc.,Orkla ASA, ConAgra Foods Inc., ITC Limited. Nomad Foods and General Mills dominate the market with their diverse product portfolio and strong distribution networks across various countries.
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