Pune, India, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The global electric lunch box market size is projected to witness speedy growth in the upcoming years owing to the increasing awareness among consumers about the consumption of nutritious and healthy food. Fortune Business Insights™ shares these observations in its report, titled “Electric Lunch Box Market Size, Share, Growth and Forecast Report, 2023-2030”.
Over the years, there has been an increasing awareness among consumers around the world about the consumption of healthy and nutritious food. A majority of the working population in the world make use of the electric lunch box while working in the office or while taking road trips with friends or family. There are several benefits of electric lunch box such as lightweight, easy to clean, durable, and long-lasting. Thus, this is an important factor responsible for the growth of this market. Further, the increasing popularity of providing healthy food to the patients in the hospitals is also one of the major factors contributing to this market’s growth.
However, the availability of alternative products such as regular lunch box, insulated lunch box, and others is projected to hinder the growth of this market.
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Leading Players Featured in the Electric Lunch Box Market Research Report:
- Wonderchef Home Appliances Pvt. Ltd.
- Nayasa
- Hamilton Housewares Pvt. Ltd.
- Koninklijke Philips N.V.
- Cello World
- Haven Innovation
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Base Year | 2022 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Electric Lunch Box Market Growth Drivers | The rising popularity of maintain healthy diet act as a driving factor for the market growth. |
| Intense competition with its substitute products act as a restraining factor for the market growth. |
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/electric-lunch-box-market-104131
Highlights/Summary:
The report incorporates actionable insights into the regional prospects of the market and provides a comprehensive analysis of the market drivers and challenges. Further, the report also contains detailed profiling of key market players and careful study of their strategies and offers a granular evaluation of the different market segments.
Drivers/Restraints:
Growing Number of Road Trips and Picnics to Fuel the Market
Nowadays, there have been an increasing number of road trips and picnics by the majority of the world population. These trips may be for leisure, one-day return picnics or for business purpose. Hence, the consumption of nutritious and warm food has gained importance during such trips instead of consumption of outside food. Thus, this has resulted in the surging demand for electric lunch box which keeps the food warm and long-lasting. Thus, this is a crucial factor responsible for this market’s growth. For instance, as per the report published by the United States Department of Transportation, approximately 87 percent of the American population takes daily trips using their own vehicles.
COVID-19 Impact:
The COVID-19 pandemic has hampered most of the industries around the world. Due to the rising lockdown restrictions worldwide, the consumer goods industry has also suffered huge loss during this pandemic. Hence, there is a decline in the demand for electric lunch box on account of the increasing travel restrictions and shutdown of the offices, which is expected to impede this market’s growth.
Market Segmentation:
By Material Use
- Metal
- Plastic
- Combination
By Technology
- Battery-powered
- Wired
By Sales Channel
- Supermarket/Hypermarket
- Retail Stores
- Online Stores
By Geography
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (South Africa, UAE, and Rest of ME&A)
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Regional Insights:
Rising Popularity of Family Gatherings to Propel the North America Market Growth
North America region is projected to dominate the electric lunch box market share on account of the increasing popularity of family gatherings or picnics in this region. Further, the growing usage of lunch box during camping activities is propelling this market’s growth.
Asia Pacific region is expected to witness substantial growth in this market due to the increasing number of lunch box manufacturing companies such as Hamilton Housewares Pvt. Ltd., and others in this region. Further, the decreasing number of canteens and cafes in most of the educational institutions is another major factor responsible for this market’s growth.
Competitive Landscape:
Increasing Production of Wide Variety of Lunch Boxes by Key Players to Intensify Competition
The leading companies in the electric lunch box market are focusing on manufacturing of different varieties of lunch boxes with various shapes and sizes to attract a large number of customers in several regions. This has led to an increased competition among key companies which will help them to widen their business portfolio and expand their market presence.
Industry Development:
- February 2020: Kobwa declared the launch of its electric lunch box which not only heat up food but also comes with a steaming power to cook a full meal.
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