Research Nester published a report titled “Electric Lunch Box Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the electric lunch box market in terms of market segmentation by type, by application, by technology, by distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
An electric tiffin is a convenient product used to provide hot food at any given time. Unlike traditional lunch boxes, electric lunch boxes sustain the freshness and taste of food until one consumes it. They save a significant amount of time and money for hot food over the restaurant or pick up food. Also, the electric lunch boxes are convenient and easy to use by simply plugging-in, to heat the meal anywhere, anytime.
The electric lunch box market is expected to observe substantial CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, application, technology, distribution channel, and region. Among the distribution channel, the online segment held the dominant share on account of the revolutionary shift in the shopping tendencies of the majority of consumers across the world and the ease it provides to the customers while shopping especially in the current scenario of the COVID 19 outbreak. CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, the electric lunch box market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The North-American region held the leading market share, followed by Europe. This growth is majorly attributed to the advancement in technology prevailing in the regions, led by U.S. and Canada, and electric lunch box being a major convenience for the working class populace of this region.
The Asia-Pacific region is expected to grow at the fastest pace led by developing nations owing to gushing demand for convenient & healthy lifestyle products, growing disposable income, and rising awareness predominantly through digital media.
Latin America and Middle East & Africa are expected to witness substantial growth in the electric lunch box market. This is attributed to the rising awareness of such innovative products.
Growing health concerns among consumers and rising interest for convenience to boost the global electric lunch box market
On account of rising lifestyle disorders such as obesity, diabetes, PCOD, and others, intensifying awareness about wellbeing, consumers’ need for convenient products has shifted their attraction towards the electric lunch box. This has attributed to overall market growth over the forecast period.
Additionally, the increase in disposable income in developing markets, rising awareness related to electric lunch boxes through brand advertisements and campaigns on digital platforms, and growing numbers of distribution channels have contributed towards significant market growth.
However, low awareness among people in underdeveloped nations, market disruption due to COVID 19 pandemic, and majorly the lower cost substitutes available might hamper the electric lunch box market growth in the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
This report also provides the existing competitive scenario of some of the key players of the electric lunch box market which includes company profiling of Haven Innovation, Newell Brands (NASDAQ: NWL), Hamilton Housewares Pvt. Ltd., SKG Electric Co., Ltd, Jaypee Plus, Koolatron CA, Cello World, Girmi, TAYAMA APPLIANCE USA INC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the electric lunch box market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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