The global insulated lunch box market size is anticipated to grow at a staggering rate in the forthcoming years on account of changing lifestyle trends, increasing working population, and urbanization, etc. People are opting insulated lunch boxes as they can keep the food at the favored temperature, offer convenience to carry, keeps the food fresh, etc. The demand for these insulated lunch kits is constantly rising. Fortune Business Insights™ has presented this information in an upcoming report titled, “Insulated Lunch Box Market, 2023-2030”.
In the report, various market growth stimulants are comprehensively described. For instance, the number of school and college going students is constantly rising, which is, in turn, fueling the demand for insulated lunch kits. The escalating number of students with allergic reactions to certain types of food are prominent demand claimers of insulated lunch kits.
Fortune Business Insights™ lists out all the insulated lunch box market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Tier Corporation U.S.A
- Zojirushi America Corporation
- Bentology
- Vaya
- My Borosi
- Hamilton Housewares Pvt. Ltd.
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Report Coverage-
The report follows an innovative methodology that involves bottom-up and top-down approaches for an in-depth market analysis. The report is based on historical data and future forecasts and incorporates Porters’ Five Forces Analysis and PESTLE Analysis for an infallible prediction of the prospected market. The report contains information gathered through interviews with reputed stakeholders at country, regional, and global levels. The report also highlights the information on new product launches, key market trends, acquisitions, mergers, etc.
Drivers & Restraints-
Rising Inclination for Home-Cooked Meals to Intensify Business
The rising awareness related to fresh home-cooked meals and the rising consciousness about health and hygiene are expected to be major growth drivers in the forthcoming years. An increasing number of people are inclined for the consumption of home-cooked meals. Since, the thermally insulated container helps in maintaining the temperature of its contents, the usage of it also rising. An increased usage of insulated lunch kits amongst school and college going students is also expected as parents as well as students are getting more conscious for their health and hygiene. Additionally, growing number of cycling and motor biking enthusiasts is fueling the demand for insulated lunch kits as there might not be restaurants available in some parts of the journey, and these lunch boxes come handy then.
However, a presence of numerous substitute products like electric tiffin boxes, and plastic containers, create a stiff competition for insulated lunch kits. The availability of a wide variety of these substitutes is expected to act as a restraint to insulated lunch box market growth.
Regional Insights-
Asia Pacific to Hold the Biggest Chunk in the Market
Countries like India and China have abundant low-cost labor. The mass production in the region is cheap. A majority of low wage income group in the region prefer to carry their own lunch boxes in order to save money. For instance, an Economic Times article in January 2020 reported that 90% of India’s workforce are anticipated to be employed in the unofficial sector with no social security and no base pay. This factor is expected to drive insulated thermal kits demand as it aids in saving money for working professionals and students. With this, Asia Pacific is expected to hold dominance in the insulated lunch box market share.
A vast number of tourists with low and medium budgets avoid the high cost of food at tourist destinations and restaurants. This is expected to drive the market growth in Europe. Additionally, the increasing outdoor recreational activities are increasing in the region. These are expected to be a growth propellant in the region.
Segmentation-
Based on material use, the market segments into plastic, steel, aluminum, etc. On the basis of its application, the market divides into schools, workplaces, etc. On the basis of its sales channel, the market fragments into e-commerce stores and retail stores. Geographically, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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The Global Insulated Lunch Box Market Research/Analysis Report Contains Answers to your following Questions:
- Which Manufacturing Technology is used for Insulated Lunch Box ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Insulated Lunch Box Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Insulated Lunch Box Market? What Was Capacity, Production Value, Cost and PROFIT of Insulated Lunch Box Market?
- What Is Current Market Status of Insulated Lunch Box Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Insulated Lunch Box Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Insulated Lunch Box Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Insulated Lunch Box Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Insulated Lunch Box Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Insulated Lunch Box Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Insulated Lunch Box Industry?
Competitive Analysis-
Product Launches and Innovations to Prevail as Key Growth Strategies by Major Brands
The global insulated lunch box market is highly competitive due to a number of players operating at regional and global levels. Product innovation and new product launches are expected to be main strategies for market growth. For instance, Hydro Flask launched a new kids insulated lunch box with attractive designs in January 2019. The new product can retain ideal food temperature for long time.
Industry Developments-
January 2021: Vaya Life launched HauteCase, the world’s first insulated casserole. The new line of stainless steel insulated casseroles will enhance the company’s footprint in the global market.
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