Global Electric Lunch Boxes Market is expected to foresee significant growth. North America to grow at a significant CAGR!
- Himanshu Patni
- July 13, 2023
- CONSUMER GOODS, NEWS
- Electric Lunch Boxes Market, Electric Lunch Boxes Market Growth, Electric Lunch Boxes Market Size, Electric Lunch Boxes Market Trends, Electric Lunch Boxes MarketShare
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The Electric Lunch Boxes Market is expected to grow at a steady rate of around 8% owing to the rising disposable income, increasing spending capacity, busy & hectic schedule of the consumers, and surge in awareness about the convenience provided by the electric lunch boxes. There has been a significant advancement in food tastes in the past few decades. The advent of the digital age has had a significant impact on people’s dietary preferences, especially among the millennial generation. Due to the increasing prevalence of lifestyle problems like diabetes and obesity, people are becoming more attracted to eating healthier meals and cooking at home. As a result, a significant factor that is anticipated to drive the demand for electric lunch boxes during the forecast period is the rise in the consumption of home-cooked food. Moreover, the new product launches in the electric lunch boxes industry are expected to propel the growth of the market. For instance, in September 2022, Jaypee launches its electric lunch boxes and chafing dish in India.
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Based on material use, the market is classified into metal, plastic, and combination. Among these, the combination segment is expected to grow at a high CAGR during the forecast period. The combined material is convenient, sustainable, hygienic, long-lasting, easy to clean, and environment-friendly. More and more people are embracing environmentally friendly activities in one form or another as environmental awareness becomes more important than ever. Many people are looking for environmentally friendly alternatives to the substance we use the most frequently as part of it.
On the basis of technology, the market is divided into battery-powered and wired. The wired segment captured a noticeable share of the global electric lunch boxes market in 2020. The growth of this segment is attributed to its good shelf life and lower cost as compared to a battery-powered also a large number of manufacturers still have not perfected battery lunch box technology.
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For a better understanding of the market adoption of the electric lunch boxes industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a prominent share of the market in 2020 and is anticipated to grow at a strong CAGR during the forecast period. One of the main drivers of the market’s expansion in North America is the rising use of inventive electric lunch boxes. Additionally, the country’s rapidly growing internet retail sector is helping the industry develop. The market’s expansion has been driven by the electric lunch boxes’ widespread availability in online and specialty retailers in the United States, Canada, and Mexico.
Some of the major players operating in the market include Zojirushi Corporation, Koninklijke Philips N.V., Cello World Private Limited, Borosil Limited, Hamilton Housewares Pvt. Ltd., Haven Innovation, Koolatron, Newell Brands, Tayama Appliance Inc., and Jaipan Industries Limited.
Global Electric Lunch Boxes Market Segmentation
Market Insight, by Material Use
· Metal
· Plastic
· Combination
Market Insight, by Technology
· Battery-Powered
· Wired
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Zojirushi Corporation
· Koninklijke Philips N.V.
· Cello World private Limited
· Borosil Limited
· Hamilton Housewares Pvt. Ltd.
· Haven Innovation
· Koolatron
· Newell Brands
· Tayama Appliance Inc.
· Jaipan Industries Limited