Growth Drivers
An upsurge in the consumption of home-cooked food
Consumers are inclining towards healthy home-cooked meals on account of escalating lifestyle disorders such as obesity, diabetes, PCOD among women, which majorly arises due to the consumption of junk, oily and packed food products such as chips, and others. Additionally, the rising awareness related to health and easy accessibility to such innovation-driven products such as an electric lunch box has contributed significantly towards the global electric lunch box market growth.
Convenience products such as an electric lunch box
The capability of an electric lunch box to offer warm food in an extremely portable manner is expected to draw a massive consumer base, particularly avid travelers and employees.
Additionally, an increase in per capita consumption in evolving nations, growing influence of U.S. culture using electric lunch boxes, an increase in the working population around the world, and an expansion in digital advertisements concerning the advantages of an electric lunch box notably supporting the overall market growth.
Challenges
The convenience of cheaper substitutes
The availability of other low-cost alternatives such as insulated lunch boxes, regular steel, plastic or glassware tiffin, and microwave safe lunch boxes might impede the growth of the electric lunch box market.
The overall halt in the marketplace owing to COVID-19 is also disturbing the market of electric lunch box owing to the shutting down of factories, interruption in the supply chain, and a fall in the global economy.
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
4.4% |
Base Year Market Size (2023) |
USD 1.05 billion |
Forecast Year Market Size (2036) |
USD 1.84 billion |
Regional Scope |
|
Author Credits: Parul Atri
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