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An electric lunch box helps keep food hot or cold for extended periods without requiring reheating or additional refrigeration. They are ideally suited for professionals and students who need portable, temperature-controlled storage for midday meals while away from home for long hours. Electric lunch boxes allow the user to prepare meals in advance and conveniently access warm or chilled items throughout the day. Options with programmable timers and temperature settings help maintain safe internal temperatures that prevent bacteria growth.
The global Electric Lunch Box Market is estimated to be valued at US$ 600.8 million in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the electric lunch box market is the growing preference for smart and multi-functional devices. Manufacturers are focusing on introducing innovative products with advanced features like customized temperature settings, timers, meal plotters, and Bluetooth connectivity. This allows consumers to precisely control and monitor the temperature of food items from their smartphones. Additionally, many new models double up as slow cookers or rice cookers, providing greater convenience through multi-cooking capabilities. There is also a rise in personalized lunch boxes optimized for different meal types like Indian, Asian or continental cuisine. Sustainable packaging using BPA-free, leak-proof and dishwasher safe materials is another major trend as consumers demand eco-friendly product choices.
Porter’s Analysis
Threat of new entrants: Low capital requirement and established distribution channel pose a moderate threat of new entrants in the electric lunch box market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute options and price sensitivity.
Bargaining power of suppliers: Established manufacturers with proprietary technology hold strong bargaining power over components suppliers in the electric lunch box market.
Threat of new substitutes: Substitute options like regular lunch boxes, steaming bags pose low-to-moderate threat of substitution in the electric lunch box market.
Competitive rivalry: Market saturated with local and international brands offering variety of products at competitive prices leading to high competitive rivalry.
Key Takeaways
The global electric lunch box market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis reveals that Asia Pacific dominates the market and is expected to continue its dominance over the forecast period due to increasing popularity of smart lunch boxes.
Regional analysis reveals that the Asia Pacific region dominates the electric lunch box market holds more than 35% share of the global market in 2023. Factors such as rising disposable income, improving living standards and increasing health consciousness are driving the demand for electric lunch boxes in Asia Pacific.
Key players operating in the electric lunch box market are Crock-Pot (Owned by Sunbeam Products, Inc.), Zojirushi Corporation, Ecolunchbox, Gideon, Hot Logic, Milton, Electric Lunchbox Co., Cello World, Preethi Kitchen Appliances Pvt. Ltd., Skysonic, Milton (Hamilton Housewares Pvt. Ltd.), Mr. Bento, Grub2Go, Sovereign, and NutriBox. These players are focusing on new product development and strategic partnerships & collaborations to strengthen their presence in the global market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
