Electric lunch boxes are electrically wired boxes that can be plugged with electricity to heat up meal. Nowadays, there is a growing trend of the use of an electric lunch box owing to its ability to provide healthy warm meals to consumers. The certain advantage of using an electric lunch box include delivering healthier food, help to save money, offer warmer food, and others. These electric lunch boxes have gained popularity among working-class individuals and school going students. Major factors that boost the market for electric lunch boxes include rise in disposable income, increase in spending capacity, busy & hectic schedule of the consumers, and surge in awareness about the convenience provided by the electric lunch boxes.
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Market Dynamics
Food habits have changed dramatically, over the past half-decade, and emergence of the digital age has had a significant impact on the food preferences of the general public, especially millennials. Although restaurant food always draws more, nowadays, considering heath as a top priority, the population is more inclined towards home-cooked food. The increasing number of people across the globe becoming more conscious of the importance of maintaining a healthy diet upsurge the usage of this product and act as one of the major driving factors for the market growth. Owing to increase in lifestyle disorders such as obesity, diabetes, and other diseases, consumers are gravitating towards healthier home-cooked meals. These disorders are primarily caused due to the consumption of street junk food, and fatty and other food items. Hence, increasing health consciousness and easy access to innovative products such as electric lunch boxes are anticipated to aid market growth in the long term.
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Segment Analysis
In the current scenario, plastic electric lunchboxes are expected to remain popular than metal lunch boxes and the trend is likely to continue during the forecast period. As plastic exhibits exceptional heat retention capacity and is lighter in weight compared to stainless steel, manufacturers continue to favor the production of plastic electric lunch boxes. However, stringent regulations over the use of plastic coupled with soaring consumer awareness pertaining to environment safety could boost the production of metal electric lunch boxes in the coming years.By technology, battery-powered electric lunch boxes are expected to grow with highest CAGR during the forecast period. LunchEaze is the only major player offering electric lunch box which is battery-powered. Each charge lasts for 2.5 hours of heating. The heating cycle automatically starts 2 hours prior to mealtime that is set.
Competitive Landscape
The global electric lunch box market is fragmented with many players such as Koolatron Corporation, Thermos L.L.C., Girmi Hamilton Housewares Pvt. Ltd., Tayama Appliance, Jaipan, Hamilton Housewares Pvt. Ltd., Cello World, Hot Logic, among others. The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the market globally. For instance, in September 2019, Italy-based Girmi launched a new household catalogue covering all new products to be launched over the coming years, which also include electric lunch boxes. In February 2020, Kobwa launched its new electric lunch box product series, which can preserve fresh for longer hours.
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