Global Electric Lunch Box Market is Likely to Surpass US$ 1 Billion by 2031, Recording Over 4% CAGR: TMR Report

Wilmington, Delaware, United States, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for electric lunch box was estimated to be worth a market valuation around US$ 1.1 billion in 2022. The market is anticipated to register a steady 4.7% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 1.7 billion.

People have moved to cities or urban regions as a result of rapid urbanization. City dwellers searching for quick and simple ways to reheat their meals include office workers and students. Urban life is made possible by portable electric lunch boxes, which are an efficient method to reheat food without the need of microwaves or standard kitchens.

The demand for electric lunch boxes is also increasing due to expanding disposable income among customers in many locations. This enables consumers to spend money on cutting-edge kitchen appliances like electric lunch boxes. Without relying on conventional stovetops or microwaves, electric lunch boxes offer the ease of quickly heating meals.

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Market Snapshot:

Key Findings of Market Report

• The value of the electric lunch box market is anticipated to expand in the near future as customer understanding of health and wellbeing increases.

• Customers are being encouraged to remain with healthier food selections by the rising incidence of lifestyle diseases like diabetes and obesity.

• Customers who use electric lunch boxes may enjoy healthy meals prepared at home, reducing their reliance on processed or quick food accessible outside.
  

Market Trends for Electric Lunch Box

• The multi-layer type segment is anticipated to take the lead in the global market soon. Integrated timers for accurate cooking control, steamers for cooking vegetables or rice, and separate compartments for storing different foods are all included in the multi-layer electric lunch box.

• Customers who want all-in-one solutions are drawn to this product by its practicality and adaptability. It is anticipated that in the next years, demand for multi-layer electric lunch boxes would increase.

• Customers who use electric lunch boxes may enjoy healthy meals prepared at home, reducing their reliance on processed or quick food accessible outside. There is a greater emphasis on eating freshly prepared meals as people become health-conscious. Using electric lunch boxes, working professionals may eat hot meals cooked in their homes.
  

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Electric Lunch Box Regional Market Outlook

• During the projection period, North America is anticipated to dominate the worldwide industry. The region's electric lunch box industry is expanding due to a rise in demand from working-class people, students, and tourists for meal-heating options. The region's residents' busy work schedules are increasing demand for portable food heating options.

• The electric lunch box market size in Asia Pacific is anticipated to grow throughout the projected period due to the region's quick urbanization and rising consumer buying power. The growth of the region's working population is a factor in the market's rise.

• In Europe, demand for electric lunchboxes is rising quickly, mostly as a result of consumers' rising disposable income
  

Global Electric Lunch Box Market: Key Players
The market for electric lunch boxes is highly concentrated, with a small number of significant producers holding the lion's share. The most recent electric lunch box market prediction indicates that businesses are investing more and more in infrastructure and cutting-edge technology to create cutting-edge goods. Key players frequently use partnerships and product portfolio growth as main tactics.

TAYAMA Appliance USA Inc., Haven Innovation, Hamilton Housewares Pvt. Ltd., SKG Electric Co., Ltd., Jaypee Plus, Koolatron Corporation, Cello World, Girmi, CrockPot, HotLogic, and YISSVIC are important market participants. To take advantage of attractive income prospects, these competitors are tracking the developments in the electric lunch box sector.

Some developments by the key players in the global market for electric lunch box are:

• Jaypee Plus declared the introduction of its electric line, consisting of electric chafing dishes as well as lunch packs, in 2022. The hot pot electric lunch box, the power meal featuring steel electric lunch box, the hot-line electric plastic lunch box alongside 4 steeliness steel containers, as well as the Spark 4 cherry lunch box are all part of the new collection. These goods are produced with BPA-free plastic and stainless steel.

• Milton introduced the new, app-enabled Smart Tiffin in August 2020. This innovative gadget can be linked to a smartphone, allowing for the scheduling of food cooking times. Smart tiffin delivers convenience to consumers by allowing individuals to have home-cooked meals in the safest possible manner.

• Zojirushi Corporation, a producer of kitchen and other home appliances with headquarters in Japan, declared in 2021 that it will be working with Guangdong Galanz Enterprises Co., Ltd., a producer of consumer electronics with headquarters in China, to create high-quality home appliances.
  

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Global Electric Lunch Box Market Segmentation

• Type
  • Single Layer
  • Multi-layer
• Price Range
  • Below US$ 20
  • US$ 20 - US$ 50
  • US$ 51 - US$ 100
  • Above US$ 100
• Capacity
  • Below 1 Liter
  • 1 Liter - 1.8 Liter
  • Above 1.8 Liter
• Raw Material
  • Stainless Steel
  • Plastic
• Power Source Type
  • Corded
  • Cordless
• Distribution Channel
  • Online
    • Company-owned Websites
    • E-commerce Websites
  • Offline
    • Supermarkets/Hypermarkets
    • Departmental Stores
    • Other Retail Stores
• By Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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