Elettronica
Electric Lunch Box Sales to Increase by 1.3X Between 2021 and 2031, Lead by Digital Explorer Customer Archetype: Fact.MR Survey
NEW YORK , July 22, 2021 /PRNewswire/ -- The global electric lunch box demand outlook remains positive considering that Fact.MR has projected the market to exhibit growth at 4.3% CAGR between 2021 and 2031. Inclination for fresh home cooked meals, primarily among working people will remain a chief growth driver of the market.
After a period of consistent growth, Fact MR observed demand for electric lunch boxes to plummet, causing their price to drop by 4% in Q2 FY2019. Nevertheless, sales are expected to grow 1.3X between 2021 and 2031, enabling the market to reach valuation of nearly US$ 1.5 Bn by the end of 2031.
Electric lunch boxes are electrically wired boxes that can be plugged with electricity to heat up meal. Sales of electric lunch boxes is rising as consumers show higher inclination for electrical items to ease their daily chores.
Electronics sales are increasing at a CAGR of 5% and the overall industry valuation is forecast to surpass US$ 1 Tn by 2031. Expansion of the electronics sector is indicative of consumers rising inclination for electrical gadgets that will simplify their daily lives. This will in turn present a conducive environment for the expansion of the electric lunch boxes market.
Ongoing technological advancements are improving kitchenware products. Manufacturers are focusing on innovative ways to improve their product portfolio. For instance, Milton and Tedemei have introduced battery-operated electric lunch boxes which is facilitating their sales growth.
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Key players are focusing on investments, acquisitions, and portfolio expansion to increase sales revenue. For instance,
Key players profiled in the market include
Fact.MR provides an unbiased analysis of the electric lunch box market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global electric lunch box market, with a detailed segmentation on the basis of:
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