Rising disposable income & growing investments drive the Global Smart Lunch Box Market, 2027F growth.
According to TechSci Research report, “Smart Lunch Box Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027” Global smart lunch box market is anticipated to register an impressive growth with a CAGR during the forecast period, 2023-2027, due to increasing concern over the quality of the food being consumed. Rising inclination of the consumers toward home cooked meals and avoiding the consumption of the street food and junk food, further drives the growth of the global smart lunch box market in the upcoming five years. Rising instances of chronic diseases like cardiac arrest, strokes, etc. along with rising concern for large section of population being affected with obesity, diabetes, alike sedentary lifestyle diseases also support the inclination toward home cooked meal and thus the growth of the global lunch box market in the next five years.
With changing lifestyle patterns, long hours at work, zero physical workouts leave the younger generation too exhausted to cook meals repeatedly throughout their day. This often leads to online food delivery services, or eating at fast food joints, or restaurants. Excessive consumption of such food costs health problems, thus the population is steady toward opting for home cooked meals and using smart lunch boxes to support the hygiene and warmth of the food, thereby substantiating the growth of the global smart lunch box market in the future five years. Electric lunch boxes provide another technical advantage that can be used to pre-heat the food before consumption. Capability of an electric lunch box to offer warm food in an extremely portable manner facilitates the growth of the global smart lunch box market in the forecast years through 2027F.
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The global smart lunch box market segmentation is based on material type, number of containers, distribution channel, regional distribution, and competitive landscape. Based on material type, the market is further segmented into stainless steel, plastic, and others. Stainless steel material for the lunch boxes are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to easier incorporation of the technology in the lunch boxes. Higher prevalence of long lasting material advantages also facilitates the growth of the global smart lunch box market in the future five years. Plastic material is also anticipated to hold significant growth in the future years due to insulated container properties that are highly in demand with electric lunchboxes thereby driving the growth of the global smart lunch box market in the forecast period through 2027.
By number of containers, the market is fragmented into 1 to 3, 3 to 6 and others. Based on distribution channel, the market is bifurcated into supermarkets/hypermarkets, retail stores, online, and others. Supermarket/hypermarkets are expected to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of availability of the multiple brands through these channels. Surge in the demand for the detailed analysis of the product before purchase also influences the segmental growth. Moreover, online sales are also increasing in the recent years. The growth can be owed to the evolving preferences and shopping patterns of the consumers thereby aiding the growth of the global smart lunch box market in the forecast period. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.
Some of the market players, dominating the global smart lunch box market are:
- Hamilton Housewares Pvt. Ltd (Milton)
- ReliantEMS Corp, located (LunchEAZE)
- Inspire Ecoware
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“North America is anticipated to hold the largest revenue shares of the market and dominate the regional analysis in the upcoming five years due to increasing disposable income among the population. Growing technologically advanced product availability also influences the growth of the market in the future years. Asia Pacific region is also anticipated to closely follow the growth in terms of regional analysis since the demand for home cooked meals are higher in the countries like India, China, South Korea, Japan, etc. Increasing instances of sedentary lifestyle diseases further influences the consumers to focus on home cooked meals and thus the growth in the demands for smart lunch boxes. Moreover, technological advancement in such products is higher and aids the growth of the global smart lunch box market in the forecast period. New market players may focus on investing in the research and innovative product development to add to their brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Smart Lunch Box Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Material Type (Stainless Steel, Plastic, Others), By Number of Containers (1 to 3, 3 to 6, others), By Distribution Channel (Supermarkets/Hypermarkets, Retail Stores, Online, Others), By Region”, has evaluated the future growth potential of global smart lunch box and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global smart lunch box market.
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