May 21, 2024

Electric Lunch Box Market is Anticipated to Witness High Growth Owing to Rise in Working Population

Electric lunch boxes are portable storage containers that are used to keep food warm or cool using electric heating or cooling elements. They provide convenience to users by maintaining the optimal temperature of food so it can be enjoyed hot or cold hours after preparation. The boxes are finding increasing adoption among working professionals, students and adults who prefer to carry homemade meals instead of purchasing food from cafeterias or restaurants on a daily basis.

The global Electric Lunch Box Market is estimated to be valued at US$ 600.8 Mn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period of 2023 to 2030.

Key Takeaways
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, NutriBox. Electric lunch boxes provide multiple advantages like maintaining optimal food temperature for longer duration, compact size for easy portability and division trays for separating food items. They help support a healthy lifestyle by enabling users to control ingredients and cooking methods of home-cooked meals. The growing health and wellness trend has increased demand for electric lunch boxes.

Key players in the electric lunch box market continue to invest in new product development and launches to expand their offerings. They focus on features like lightweight and compact designs, extended battery life, different temperature settings and divisions for separating food items. Ecolunchbox launched a insulated food jar in 2021 that can keep food hot for 10-12 hours and cold for over 24 hours. Key opportunities lie in partnerships with corporates and educational institutes for bulk procurement. Major players are undertaking strategic expansion across regions through collaborations with online and offline distributors to strengthen their global footprint.

Market drivers and restrain

The rapid increase in the working professional population globally is a major driver for the electric lunch box market. Busy schedules leave little time for proper meals, increasing the need for portable heated lunch boxes. The health benefits of home-cooked meals like controlling ingredients, flavors and nutritional value further support market growth. Rising disposable incomes in developing countries allows consumers to spend more on smart lunch box solutions for convenience.

However, high initial costs of electric lunch boxes compared to conventional boxes can restrain market adoption rate to a certain extent. Availability of cheaper substitutes also poses challenges. Consumers may also be hesitant regarding potential issues like overheating, combustion risk and short battery life of some low-cost products. Strict regulations for manufacturing electronic devices add to product expenses. Standardization of specifications is required to improve consumer safety and confidence.

Segment Analysis
The Electric Lunch Box Market can be segmented into standard electric lunch boxes and travel/portable electric lunch boxes. The standard electric lunch box segment dominates the market with over 65% share as they are more cost-effective and are preferred by office workers and students who need to carry lunch boxes daily. These standard electric lunch boxes work with the help of rechargeable batteries and feature separate temperature control for different compartments to keep food warm or cold.

Global Analysis
The Asia Pacific region is expected to grow the fastest in the electric lunch box market during the forecast period owing to rising working population and increasing demand for convenience food products in countries like China, Japan and India. Countries in Asia Pacific like China and India have a large working populace and students who depend on packed lunches daily making electric lunch boxes an ideal option. North America currently dominates the global market due to high disposable income and preference for smart kitchen appliances for heating and storing food. However, fast adoption of smart food products in developing Asian markets is expected to help Asia Pacific dominate the global electric lunch box market by 2028.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it