Global Electric Lunch Box Market Share Is Projected To Reach Over One Billion Dollars At a CAGR Of 6.62% by 2030 With 6.62% CAGR

Boulder, CO, April 14, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Electric Lunch Box Market By Application (Vegetables, Food, Drink, And Others), By Type (Container Electric Lunch Boxes And Grid Electric Lunch Boxes), By Material Used (Metal, Plastic, And Others), By Technology (Steam And Microwave Application), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Electric Lunch Box Market size & share in terms of revenue was valued at USD 600 million in 2022 and it is expected to surpass around USD 1000 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.62% during the forecast period 2023 to 2030.”

What is Electric Lunch Box? How big is the Electric Lunch Box Industry?

An electric lunch box, often referred to as an electric food warmer, is a portable container that utilises electricity to heat or prepare food. Another name for an electric lunch box is an electric food warmer. Typically, these lunch boxes have a heating element, a power cord, and separate compartments for storing and heating food.

The extent of the industry of electric lunch boxes varies greatly from country to country and area to area. In recent years, there has been a rise in the demand for electric lunch boxes as a result of a rising interest in the convenience of such products as well as healthy eating practises. According to some estimations, the growing demand for portable and quick meal options is expected to lead the global market for electric lunch boxes to reach over one billion dollars by the year 2026.

Report Overview:

The global electric lunch box market size was worth around USD 600 Million in 2022 and is predicted to grow to around USD 1000 Million by 2030 with a compound annual growth rate (CAGR) of roughly 6.62% between 2023 and 2030.

The electric lunch box industry refers to the production, designing, and distribution of lunch electrically heated and portable containers that are used to store food products or warm them up at a later time before consumption. It is commonly used in workplaces, schools, and on-the-go activities. The easy and convenient designs of electric lunch boxes have made them extremely popular amongst people who do not have regular access to standing kitchens or other food heating apparatus. These containers are currently available in various shapes and sizes thus allowing more consumers to utilize them depending on their preferences and needs. In recent years, the industry has witnessed a high growth rate due to changing lifestyle patterns and excellent marketing activities adopted by the industry players. However, several concerns act as growth restrictions.

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Global Electric Lunch Box Market: Growth Factors

The global electric lunch box market is projected to grow owing to the extensive investments toward developing more efficient and effective electricity-power lunch boxes. The current models in the market have certain limitations. For instance, be used to heat liquid items but only to a certain extent. Industry players are working toward developing higher-grade electric boxes that can warm up all types of food and beverages. Another trend that works in the favor of the industry is the growing number of people who regularly purchase aesthetically pleasing products.

This segment of the population is generally referred to as ‘impulse buyers’. They tend to purchase a product without putting much thought into it and this is especially applicable to lesser-priced items. Furthermore, the growing rate of employment and subsequent workforce is an essential consumer segment that, in the future, is expected to lead the industry size. With the changing lifestyle patterns, more people are looking for ways through which they can consume home-cooked meals and save time. Electric lunch boxes provide a convenient and cost-effective solution for these consumers.

The global electric lunch box industry may witness growth restrictions owing to the price sensitivity of electric lunch boxes. Companies must work on balancing their need to offer affordable prices with the need to generate sufficient profits. Furthermore, in regions that lack an adequate supply of electricity or suffer from constant load shedding, the device may get damaged owing to the fluctuating electric current strength. This greatly restricts the industry's reach since it does not fit the needs of people living in rural areas. Electric lunch boxes require access to electrical outlets to function, which can limit their usability in outdoor settings or during travel.

The strategic measures adopted by industry players could provide growth opportunities while the existing competition from traditional substitutes may challenge market growth.

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Report Scope

Electric Lunch Box Market: Segmentation Analysis

The global electric lunch box market is segmented into application, type, material use, technology, and region.

Based on application, the global market segments are vegetables, food, drink, and others.

Based on type, the global market is divided into container electric lunch boxes and grid electric lunch boxes. In 2022, the highest growth was observed in the container electric lunch boxes segment. These types of boxes have a single large section for food storage. It can be used for heating a wide range of food items. It is most popular amongst consumer groups that prefer one container and wish to minimize the number of dishes they need to carry. Grid containers have multiple segments and are suitable for people who carry multiple types of food products in one lunch box. Generally, a basic electric lunch box without any additional features can cost anywhere from $15 to $30.

Based on the material used, the global electric lunch box industry is segmented into metal, plastic, and others.

Based on technology, the global market divisions are steam and microwave application. The industry witnessed the highest growth in the microwave segment in 2022. These lunch boxes are built with an internal system that uses electromagnetic radiation to heat and cooks the food. They have to be connected to an electricity supply for heating the food item. In steam technology, heated water is used to generate steam that cooks or reheats the food in the container. These types of lunch boxes often come with a separate compartment for adding water and require an electrical outlet to operate. On average, electric lunch boxes take around 30 minutes to heat food.

The global Electric Lunch Box market is segmented as follows:

By Application

• Vegetables
• Food
• Drink
• Others

By Type

• Container Electric Lunch Boxes
• Grid Electric Lunch Boxes

By Material Used

• Metal
• Plastic
• Others

By Technology

• Steam
• Microwave Application

Browse the full “Electric Lunch Box Market By Application (Vegetables, Food, Drink, and Others), By Type (Container Electric Lunch Boxes and Grid Electric Lunch Boxes), By Material Used (Metal, Plastic, and Others), By Technology (Steam and Microwave Application), and By Region - Global, and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/electric-lunch-box-market

Competitive Landscape

Some of the main competitors dominating the global Electric Lunch Box market include - 

• Crock-Pot
• Ecolunchbox
• BentoHeaven
• Hot Logic
• Vmotor
• YISSVIC
• Zojirushi
• Electriclunchbox.com
• RoadPro
• Gideon
• Umami
• UUTO
• Skywin
• Skywalk
• Vissles
• Amatage
• HomeLifairy
• Cuisinart
• Birushanah
• Zocye
• Koolatron
• Imuraya.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Electric Lunch Box market is likely to expand at a CAGR of around 6.62% during the forecast period (2023-2030).                                
• In terms of revenue, the Electric Lunch Box market size was valued at around US$ 600 million in 2022 and is projected to reach US$ 1000 million by 2030. The electric lunch box market is projected to grow at a significant rate due to the convenience offered by electric lunch box
• Based on material used segmentation, plastic was predicted to show maximum market share in the year 2022
• Based on application segmentation, food was the leading application in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Electric Lunch Box industry?
• What are the main driving factors propelling the Electric Lunch Box Market forward?
• What are the leading companies in the Electric Lunch Box Industry?
• What segments does the Electric Lunch Box Market cover?
• How can I receive a free copy of the Electric Lunch Box Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Application, By Type, By Material Used, By Technology, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global electric lunch box market is projected to witness the highest growth in Asia-Pacific mainly due to the presence of a large consumer database in the regions of India, China, Japan, Singapore, and South Korea. India is the latest addition to the consumer segment since the awareness rate surrounding electric lunch boxes has increased in recent times. Furthermore, the region has also registered growth in the number of domestic players. As job opportunities in Asia-Pacific are on the rise, the demand in the regional market is expected to grow multifold.

In North America, the increasing rate of strategic measures adopted by market players is a major reason for the growing CAGR. Furthermore, the country’s existing technologically advanced infrastructure encourages more people to invest in new technologies.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Recent Developments

• In January 2020, Heatbox, developed by a Dutch startup, made its way into the commercial world. The smart lunch box can be activated through a smartphone or the click of a button on the device. It has to charge once a day and takes up to 8 minutes to warm up the food
• In August 2021, Milton announced the launch of application-enabled smart tiffin that allows warming up food through an app. The product is called the Milton Smart Tiffin

Electric Lunch Box Market: Opportunities
Strategic measures adopted by industry players to provide growth opportunities

The global electric lunch box industry is expected to benefit from the rising strategic partnerships undertaken by various players in the market. For instance, manufacturers of electric lunch boxes are collaborating with kitchen appliance producers or food delivery services to expand consumer reach or product offerings. Such events are also expected to assist the companies in leveraging the benefits of each other’s strengths and assets for further innovation. The increasing investments in rural infrastructure, especially for electricity products, can create a higher influx of new consumers over the coming years.

Electric Lunch Box Market: Challenges
Existing competition from traditional substitutes to challenge market growth

Parents or guardians may not prefer charging electric lunch boxes for students since they may deem it hazardous. Furthermore, schools are likely to take a stand against the use of electricity-powered lunch boxes. There is intense competition from traditional lunch boxes since they are efficient and safe to use. The electric lunch box market is fairly new and industry players have to invest in marketing techniques to ensure that they can gain the necessary confidence from the consumer group which is expected to challenge industry growth.

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FREQUENTLY ASKED QUESTIONS

• What is the electric lunch box?
• Which key factors will influence the electric lunch box market growth over 2023-2030?
• What will be the value of the electric lunch box market during 2023-2030?
• What will be the CAGR value of the electric lunch box market during 2023-2030?
• Which region will contribute notably towards the electric lunch box market value?
• Which are the major players leveraging the electric lunch box market growth?

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