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Electric Lunch Box Market Worth $840.2 Million By 2028 | CAGR: 6.1%

Published: Feb 02, 2022

Electric Lunch Box Market Growth & Trends

The global electric lunch box market size is expected to reach USD 840.2 million by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 6.1% from 2021 to 2028. The market growth is attributed to the increasing awareness amongst consumers about hot homemade food for healthy living. The ability of an electric tiffin box to offer hot food in a portable manner is expected to attract consumers, particularly travelers and employees.

The offline distribution channel segment held the largest share of more than 60.0% in 2020 and is projected to expand at a significant CAGR during the forecast period. The online distribution channel is expected to register the fastest growth rate in the coming years. The increase in the use of smartphones and the internet, especially amongst millennials, is expected to drive online retail sales. The flexible retail option is the key to the growth of the online sales channel.

Electric lunch boxes have a comparatively higher penetration in western countries of Europe and North America as compared to the Asia Pacific region as the product is new to the Asian region and consumers are getting aware of the benefits of the electric lunch box. Owing to these factors, Asia Pacific is anticipated to register the highest CAGR during the forecast period. Additionally, increasing demand for healthy lifestyle products, coupled with the increasing disposable income of consumers, is expected to propel the market growth in this region.

Leading manufacturers of electric lunch boxes are investing in R&D activities in order to enhance the design and economic aspects of electric lunch boxes. Recent developments and innovations carried out by companies are significantly contributing to market growth. Companies are focusing on enhancing their production capability through technology integration with respect to production processes and sustainable raw materials. The market presents moderate entry barriers owing to the presence of a large number of regional players.

The report “Electric Lunch Box Market Size, Share & Trends Analysis Report By Material (Metal, Plastic), By Product (Multi-layer, Double-layer, Single-layer), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028 ” is available now to Million Insights.

Electric Lunch Box Market Report Highlights

  • Asia Pacific is expected to witness the fastest growth over the forecast period. China accounted for the largest share of 27.44% in 2020, followed by Japan and India.  The growing demand for electric lunch box from countries, such as China and India, owing to the growing disposable income and increasing awareness about the importance of home-cooked food is expected to drive the regional market
  • The plastic material segment held the largest share of more than 55.0% in 2020 and is expected to expand at a significant CAGR over the forecast period. This is attributed to the growing demand for plastic electric lunch boxes from developing nations, such as China, India, and Brazil. The high popularity of plastic electric lunch boxes is due to the fact that they are cost effective and lightweight as compared to their substitutes
  • The offline distribution channel segment occupied the largest share in 2020. The online distribution channel is projected to register the highest growth rate of 7.0% over the forecast period

Electric Lunch Box Market Segmentation

Million Insights has segmented the global electric lunch box market on the basis of material, product, distribution channel, and region:

  • Electric Lunch Box Material Outlook (Revenue, USD Million, 2017 - 2028)
    • Metal
    • Plastic
  • Electric Lunch Box Product Outlook (Revenue, USD Million, 2017 - 2028)
    • Multi-layer
    • Double-layer
    • Single-layer
  • Electric Lunch Box Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)
    • Online
    • Offline
  • Electric Lunch Box Regional Outlook (Revenue, USD Million, 2017- 2028)
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • Japan
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa
      • South Africa 

List of Key Players of Electric Lunch Box Market

  • Hamilton Housewares Pvt. Ltd. (Milton)
  • Cello
  • Koolatron
  • Jaypee Plus
  • Tayama Appliances USA Inc.
  • Girmi
  • Vaya
  • Faitron
  • Hot Logic
  • Zojirushi