ALBANY, New York, July 6, 2020 /PRNewswire/ -- The penchant for electric lunch boxes over traditional lunch boxes among working individuals and students due to the convenience of heating at any place has the potential of rapidly increasing the growth rate of the electric lunch box market. The en masse favoritism for home-cooked food is also a prominent growth indicator for the electric lunch box market. Therefore, these factors form the crux of the electric lunch box market.
The researchers at Transparency Market Research predict a moderate ~4% CAGR across the forecast period of 2019-2027 with an estimated valuation of ~US$ 1 bn till 2027. Ascertaining the reasons, the analysts said, "Market players are likely to focus on product innovation and developing electric lunch boxes from materials that are eco-friendly. In addition, companies in the electric lunch box market should also focus on increasing sales via online platforms to gain an edge. Digital marketing strategies will remain the key to attract new customers. Market players should focus on launching new products and continually invest resources to improve the performance of their products."
Economical electric lunch boxes through online platforms are predicted to boost the growth rate of the electric lunch box market
Grid electric lunch boxes held a significant share of the electric lunch box market in 2018 and are estimated to continue the same throughout the aforementioned forecast period
In terms of raw material, the plastic segment was held aloft in 2018 and will continue observing the same growth rate till 2027
Unearth 133 pages of intelligent research, current market scenario, and extensive geographical projections. Gain insights on Electric Lunch Box Market (Type: Grid Lunch Box, Container Lunch Box [2 Container, 3 Container, and 4 Container]; Price Range: Below US$ 10, US$ 11 – 25, US$ 26 – 50, and Above US$ 50; Raw Material: Stainless Steel and Plastic; and Distribution Channel: Offline and Online) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 athttps://www.transparencymarketresearch.com/electric-lunch-box-market.html
Electric Lunch Box Market: Growth Generators
Features of electric boxes such as low power consumption, spill-proof, break-resistant, shock-proof, and PUF insulation add extra stars of growth to the electric lunch box market
Properties like retention of nutrients and flavor of food products due to the use of electric lunch boxes make these a preferred option among individuals, thus bringing good growth opportunities for the electric lunch box market
Long-term cost benefits will further encourage the growth for electric lunch box market
Asia Pacific may serve as a significant growth contributor for the electric lunch box market owing to the large number of salaried workforce across the region; they serve as the prominent consumers of electric lunch box market
Analyze Global Electric Lunch Box Market Growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Electric Lunch Box Market: Growth Restraints
Innovations on introducing low-cost lunch boxes having similar properties like insulated lunchboxes, glassware lunchboxes, and microwave-safe lunch boxes are proving to be stumbling blocks for the growth of the electric lunch box market. Thus, attention has to be focused on developing low-cost electric lunch boxes.
Post-COVID-19 Lockdown Scenario for Electric Lunch Box Market
Consistent disruptions in the supply chain logistics due to the lockdown implementations on the grounds of COVID-19 across various countries are a major growth impediment for the electric lunch box market. The demand for electric lunch boxes may not be attractive in the first half of 2020 but it is likely to gain traction in the second half as people will start attending office and lockdown is also being relaxed in a staggered manner.
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
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