Rising health awareness among consumers is escalating to the need for homely cooked food. Nowadays, several educational institutions are anticipating students to bring homemade lunch boxes.
Additionally, working professionals are also ditching canteens and opting for home-cooked food since it offers pocket-friendly, nutritious, hygienic, and fresh food. Thus, quickly changing consumer preferences is expected to boost sales of the global market for lunch boxes and lunch bags over the forecast period.
Technological advancement and product innovations have made available a variety of lunchboxes in the market. Electric lunch boxes, insulated lunch boxes, etc. are increasingly gaining traction owing to its easy and convenient heat option.
Moreover, other options available in lunch boxes include liquid-tight, freezer safe, dishwasher safe, airtight, insulated, and microwave safe. Therefore, production innovation is projected to be a prominent development aspect in the lunch box and lunch bag market.
An increasing number of lunch bag vendors are adopting the omnichannel strategy to invoke the tech-savvy millennial population. This strategy directs towards effortlessly integrate users shopping experiences all over multiple channels, comprising stores, and online channels.
Vendors are growing their omnichannel efforts by adding attributes to their stores' mobile app, for instance, the option to search for store inventory and special in-store promotions. Thus, such initiatives are projected to boost sales over the assessment period.
Easy availability of counterfeit and inexpensive substitute lunch boxes and bags such as low quality plastic that can also impact users' health is anticipated to impede the market growth.
E-commerce boom and higher discounts available in these platforms in the industry can hamper the sales of lunch boxes and lunch bags at a regional level as the market has the presence of a huge number of regional as well as local players.
Coherent disruptions in the supply chain logistics as a result of the mandatory lockdown on account of COVID-19 pandemic, all over several nations is a major growth hindrance for the lunch box & lunch bags market. The demand for lunch boxes might not be attractive during the first half of 2020, however it is anticipated to gain traction in the second half as lockdown will be relaxed to a few extent and employees will start attending office.
East Asia and South East Asia are anticipated to dominate the global lunch boxes and lunch bags market owing to the accessibility of raw materials for production is very low. Consumers in the regions are highly aware of the health benefits of home-cooked meals which are boosting sales.
North America together with Europe is projected to witness a rapid growth in the market based on share owing to the huge working population in the regions. The MEA & South America regions are anticipated to show a significant amount of development because of the rising working women population over the assessment period.
With the presence of various major participants, the global lunch box and lunch bags market is fragmented. The participants are focusing on mergers and acquisitions, new product launches, and innovation to satiate the market’s needs.
Silbo is an innovative and smart lunchbox that keeps food fresh all day long and reheats the food with the press of a button as per the user’s preferred temperature. Moreover, Silbo has sensors that allow us to measure, track, analyze, monitor, as well as manage the eating habits of a consumer along with nutritional intake.
Tupperware India has launched a new classic lunch bag set and a new executive lunch bag set. Bother the lunch bag can carry large and small bowls that can carry extra beverages and snacks and fruit Tumblers. WorldMarket has launched a utensil print insulated faux paper lunch bag which as an adjustable buckle closure, handle, and can be easily wiped clean with a damp cloth.
Major market participants operating in the global market are -
By Number of Containers
By End users
By Distribution Channel
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