Electric Lunch Boxes Market: Current Analysis and Forecast (2022-2028)
Emphasis on Material Use (Metal, Plastic, and Combination); Technology (Battery-Powered and Wired); and Region/Country
The global Electric Lunch Boxes Market is expected to grow at a growth rate of around 8% during the forecast period. Electric lunch boxes are lunch boxes with an attached electric cord and heating base. This electric cord can be plugged into a switched board to make the food hot. Many people carry lunch boxes with them to work. The problem of eating cold food has led to the need for electric lunch boxes that, unlike traditional lunch boxes, help heat up food before eating. Furthermore, factors such as the rising disposable income and surge in awareness about the convenience provided by electric lunch boxes are fueling the growth of the electric lunch boxes market. Compared to traditional insulated lunch boxes, electrically heated lunch boxes provide a number of benefits. The insulated lunch boxes can only maintain the proper temperature for meals for brief periods of time.
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 are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst material use, combination segment to witness robust CAGR during the forecast period.”
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.
“Amongst technology, the wired segment held a significant share in the market in 2020.”
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.
“North America held a notable share in the market in 2020.”
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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global electric lunch boxes market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Electric Lunch Boxes Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global electric lunch boxes market were the three major steps undertaken to create and analyze the adoption of electric lunch boxes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global electric lunch boxes market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the electric lunch boxes market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the electric lunch boxes market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material use and technology. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the electric lunch boxes market. Further, we conducted factor analysis using dependent and independent variables such as material use and technology of electric lunch boxes. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the electric lunch boxes market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global electric lunch boxes market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the electric lunch boxes market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global electric lunch boxes market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electric lunch boxes market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of material use and technology in the global electric lunch boxes market.
The main objective of the Global Electric Lunch Boxes Market Study
The current & future market trends of the global electric lunch boxes market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the electric lunch boxes market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of material use and technology
- Define and analysis of the regulatory framework for the Electric Lunch Boxes industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the electric lunch boxes market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the electric lunch boxes market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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