Electric Lunch Box Market
Electric Lunch Box Market By Type (Grid Lunch Box, Container Lunch Box), By Price Range (Below US$ 10, US$ 11-25, US$ 26-50), By Raw Material (Stainless Steel, Plastic), By Distribution Channel (Offline, Online)- Global Market Insights 2021 to 2031
Recently released electric lunch box market analysis by Fact.MR - a market research and competitive intelligence provider, shows that the prices of lunch boxes have soared by nearly 20% over the period of FY2016-2020.
Prime reason behind inflated prices are inclination of working class towards fresh home-cooked food. However, in Q2 FY2020, prices declined by 4% compared to Q2 FY2019, owing to reduction in demand coupled with increase in inventory volume across regions.
Nevertheless, over the next ten years, demand for electric lunch boxes is projected to increase at a steady CAGR of 4.3%.
Key Points Covered in Electric Lunch Box Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Sales of Electric Lunch Boxes and How to Navigate
- Recommendation on Key Winning Strategies
Revenue Analysis of Electric Lunch Boxes from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031
As per the electric lunch box business research, reducing leisure period across the globe has paved the way for rapid growth in the business of electric lunch boxes.
This has not only boosted demand but also year-on-year growth in investments in the research & development of such products. It has however cascaded the effect to the prices of the product, which were 1.2X more expensive in FY2020 compared to FY2016
With growing inclination of traditional lunch box users towards electric ones, demand has been increasing and is anticipated to expand at a moderate CAGR of 4.3% over the coming 10 years.
- Electric lunch box sales saw soaring growth in 2021 with worldwide revenues up 0.7% year-over-year.
- Fact.MR estimates that electric lunch box revenue will grow 1.3X from 2021 to 2031, reaching nearly US$ 1.5 Bn in 2031, at a ten-year compound annual growth rate (CAGR) of 4.3%.
- As per Fact.MR’s electric lunch box market insights, global market revenue totaled US$ 1 Bn in FY2020.
- Demand for stainless steel electric lunch boxes to accelerate at the highest pace.
- Top 5 providers of electric lunch boxes held 20% market share in 2020.
- Restart of work from office by Q4 FY2021 across regions to bolster demand for the electric lunch boxes.
What are the Key Opportunities for Electric Lunch Box Manufacturers?
The consumer electronics market is anticipated to expand at a CAGR of over 5%, projecting a market value of more than US$ 1 Tn by the end of 2031. Such growth is attributed to the fact that consumers are extensively inclining towards electrical products in order to ease their regular chores, which, in turn, is anticipated to reflect on increasing demand for electric lunch boxes.
Consumers are preferring lunch boxes that are electrically wired and can plug them to heat up their meals whenever and wherever they want. This improves the flexibility factor of the product, which not only enhances ease of utilization but also boosts consumer inclination towards the product.
There are ongoing innovation and technology developments in numerous areas over the past half-decade across the globe. Kitchenware producers are always looking for innovative ways to improve their product portfolios to push their financial curves back to the rapid growth phase. For instance, Milton and Tedemei have introduced battery-operated electric lunch boxes in the market.
Prime focus of electric lunch box manufacturers remains on offering innovative solutions that could ease utilization of the product. For instance, manufacturers are investing in product casing and insulation that would enhance heat retention, providing a temporary environment barrier that prevents the food from getting cold or spoilt.
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Why is there High Demand for Electric Lunch Boxes across Regions?
Over the past half-decade, food habits have changed dramatically, 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.
Over the coming years, it is estimated that increase in consumption of home-cooked meals will be a major factor boosting demand of electric lunch boxes. For manufacturers, consumer-oriented innovative ideas will always remain a top priority.
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.
Furthermore, increasing health consciousness and easy access to innovative products such as electric lunch boxes are anticipated to aid market growth in the long term.
Which Region Offers the Largest Opportunity for Sales of Electric Lunch Boxes?
Demand in Asia Pacific is expected to grow significantly during the forecast period, attributed to the presence of prominent manufacturing firms in the region. China accounts for 40% of the global electronics & electric products industry, which makes the Asia Pacific region dominant in the electric lunch box market.
Additionally, advancements in research & development programs, especially in countries such as China and Japan, with a shift towards eco-friendly products, are leading to a significant surge in the demand for electric lunch boxes in the region.
An Adaptive Approach to Modern-day Research Needs
Country Wise Analysis
How Has Electric Lunch Box Demand Been Shaping across Established & Emerging Markets?
Germany: Germany’s electric lunch box business has reached a saturation phase in the PLC curve, owing to extensive outreach of the product in the country. The country captured nearly one-fifth of the European market for electric lunch boxes in FY2020, with an anticipated growth rate of 2.2% CAGR for 2021 to 2031.
India: Electric lunch boxes have minimal outreach in India, primary reason being lower per capita spending and product pricing. India captures nearly 2% of the global market share.
Why is China Anticipated to Provide a Short-term Boost to Electric Lunch Box Shipments?
Despite China capturing less than one-tenth of the global electric lunch box sales pie, the market is anticipated to skyrocket over the short-run forecast period at nearly 6.5% CAGR.
Dynamic labour market and the country’s goals towards a sustainable economy are anticipated to bolster demand for electric lunch boxes in the short-term period. Reducing leisure time and changing work conditions are also major factors driving demand for electric lunch boxes in the country
Category Wise Analysis
Why are Online Sales of Electric Lunch Boxes Surging?
Over the next ten years, product sales from online retail platforms are anticipated to increase at a CAGR 4.6%.
Online retail outlets have gained tremendous momentum over the years, resulting in a seismic change in the purchasing habits of a majority of consumers around the world. Furthermore, the number of online vendors has exploded, as online channels provide equal benefits to both, buyers and sellers.
Manufacturers across the globe have turned to digital platforms to raise product awareness. As a result, online retail platform penetration has proven to be a driving force for increasing the sales of electric lunch boxes.
How Has COVID-19 Impacted Sales of Electric Lunch Boxes?
The COVID-19 pandemic had a significant effect on the overall growth of global electric lunch box sales. Disruptions in the supply chain stifled market growth and sales in the electronic goods industry, especially in 2020.
In the first half of 2020, demand for electric lunch boxes remained low. However, health issues among customers as well as a strong emphasis on hygiene and safety are expected to normalize the demand curve for electric lunch boxes by Q4 of FY2021.
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According to the electric lunch box business research analysis provided by Fact.MR, Cello World, Girmi, Hamilton Housewares Pvt. Ltd., Haven Innovation, Jaypee Plus, Koolatron Corporation, Newell Brands Inc., SKG Electric Co. Ltd, and Tayama Appliance USA INC are prominent players whose sales outreach have been thoroughly described in the recently published report.
Majority companies discussed in the report have focused on investments, delivery focus, portfolio expansion, and brand development.
Some of the key developments are:
- In Sept 2019, on the occasion of its 100th anniversary, Italy-based Girni launched a new household catalogue covering all new products to be launched over the coming years, which also include electric lunch boxes.
- In Feb 2020, Kobwa launched its new electric lunch box product series, which can preserve fresh for longer hours.
Similarly, recent developments related to companies offering electric lunch boxes have been tracked by the team at Fact.MR, which are available in the full report.
Electric Lunch Box Market Report Scope
Historical Data Available for
|US$ Mn for Value|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered in Electric Lunch Box Industry Analysis
- Grid Electric Lunch Boxes
- Container Electric Lunch Boxes
- 2-container Electric Lunch Boxes
- 3 Container Electric Lunch Boxes
- 4-container Electric Lunch Boxes
By Raw Material
- Stainless Steel Electric Lunch Boxes
- Plastic Electric Lunch Boxes
By Price Range
- Below US$ 10 Electric Lunch Boxes
- US$ 11-25 Electric Lunch Boxes
- US$ 26-50 Electric Lunch Boxes
- Above US$ 50 Electric Lunch Boxes
By Distribution Channel
- Electric Lunch Boxes Sold at Specialty Stores
- Electric Lunch Boxes Sold at Hypermarkets/Supermarkets
- Electric Lunch Boxes Sold on Company-owned Websites
- e-Commerce Sales of Electric Lunch Boxes
- FAQs -
The global electric lunch box market is worth more than US$ 1 Bn at present.
Sales of electric lunch boxes are projected to increase at a CAGR of 4.3% during 2021 – 2031.
Value sales of electric lunch boxes increased at a CAGR of 3.3% during 2016 – 2020.
Cordless battery-operated lunch boxes is the current trend that has shaping the market recently.
Growing demand for availability of hot home-cooked food for working professionals stands as the core driver for the market.
Top 5 manufacturers of electric lunch boxes account for around 20% share in the global market.
Top 5 countries driving major demand for electric lunch boxes are the U.S., Canada, Germany, China, and Japan.
North America accounted for over 20% of global electric lunch box sales in 2020.
The European market for electric lunch boxes is projected to expand at a CAGR of 4.2% during 2021 – 2031.
The United States, Germany, China, and Japan are key producers of electric lunch boxes.
The market in China and Japan is set to expand at over 3.5% CAGR, with both countries together accounting for 50% share in the APAC market.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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