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Electric Lunch Box Market To Observe Strong Development by 2019 - 2027
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In this market report, TMR predicts that the growing awareness of the benefit of home-cooked meals coupled with the rising desire of consumers to partake in warm meals from lunch boxes has significantly driven the demand for electric lunch boxes. Growing health consciousness among the people is leading to a demand for homely cooked food. Working professionals opt for home-cooked meals as it is fresh, nutritious, hygienic, and pocket friendly. Rapidly changing consumer preference is likely to propel the global market for electric lunch boxes. Thus, growing health concerns and increasing awareness about homemade food is likely to stimulate the electric lunch box market in the near future.
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In the coming years, innovations in electric lunch boxes through technological advancement is likely to generate new growth opportunities for the market. Kitchenware manufacturers are also constantly focusing on new innovations in their product portfolios. Some manufacturers have launched battery-operated electric lunch boxes which is projected to create better opportunities for the global electric lunch box market in the near future. Furthermore, rising technological advancements and manufacturing of rechargeable battery-operated lunch boxes will create opportunities for the electric lunch box worldwide. In addition, several manufacturers are offering budget-friendly electric lunch boxes through online channels that is set to boost the growth of the market.
Grid electric lunch boxes held the highest market revenue share in the global electric lunch box market in 2018 and are expected to remain dominant during the forecast period. Penetration of grid-type lunch boxes is higher than container lunch boxes. Grid lunch boxes enable more space-saving and look less bulky. Besides, grid lunch boxes are easier to wash. However, container lunch boxes are more popular in Asian provinces, particularly in India.
Based on raw material, the plastic segment led the electric lunch box market in 2018. Although plastic is considered harmful to the environment, preference for plastic by manufacturers as well as consumers is predominant, owing to its lightweight feature with relatively lower cost, contributing to its growth globally. However, in the coming years, stainless steel electric lunch boxes are expected to gain traction due to rising environmental concerns, resulting in the limited use of plastic products.
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Electric Lunch Box Market: Prominent Regions
Geographically, Asia Pacific led the electric lunch box market in 2018 and the region is expected to retain its dominance during the forecast period. Globally, 52% of the workforce population is the formal or waged/salaried population. This is the prominent target clientele for the electric lunch box market. The majority of this population resides in the Asia Pacific region, which accounts for more than 55% of the global population. Hence, it is anticipated to remain the prominent market for electric lunch boxes followed by Europe and North America.
Electric Lunch Box Market: Key Players
The competitive landscape for the electric lunch box market is highly fragmented with the leading players accounting for 10% to 15% of the revenue share. Key players operating in the global electric lunch box market include TAYAMA APPLIANCE USA INC., Haven Innovation, Newell Brands Inc., Hamilton Housewares Pvt. Ltd., SKG Electric Co., Ltd, Jaypee Plus, Koolatron Corporation, Cello World, and Girmi.
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