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Working professionals and school-going students are the main users of lunch boxes. The lunch box market is majorly growing due to the demand from school and college going students. Lunch boxes are available in a wide range of materials such as stainless steel, glass, vinyl, or polypropylene. Home-cooked meals are highly nutritious, fresh, hygienic, and economical. The increasing preference for home cooked meals is expected to be a significant factor fueling the growth of the lunch box market. Also, many of the commercial services have started providing lunch box or bento box which is expected to trigger the growth of the market.
Lunch Box Market: Competition Landscape
Established in 1923, Tiger Corporation is a Japanese manufacturer of household products. It is headquartered in Kadoma, Okasa City, Japan. Tiger Corporation offers its wide range of products in many countries. Its product portfolio includes lunch boxes, air pump jugs, food jars, vacuum bottles, mugs and tumblers, rice cookers, and electric kettles.
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Thermos L.L.C, with headquarters in Schaumburg, Illinois, USA, was founded in the year 1904, and is the pioneer of the vacuum insulation technology. The company mainly manufactures insulated food and beverage containers. It offers various products such as mugs and tumblers, water bottles, food jars, coolers, lunch boxes, funtainer, Patina Vie, and many other products. The Thermos family has other affiliated brands that include Lifefactory and Alfi.
Founded in the year 1991, Corelle Brands LLC is a manufacturer and distributor of kitchenware products. Based in Rosemont, Illinois, United States, the company employs ~3000 employees around the globe. Corelle Brands manufactures dinnerware, bakeware, and kitchen and household tools under various brand names such as Pyrex, Corelle, Corningware, Snapware, Chicago Cutlery, Snapware, and OLFA.
Some of the other key players operating in the global lunch box market are Tupperware, Pacific Market International, Hamilton Housewares Pvt Ltd., Pigeon, Lock&Lock, Zojirushi America Corporation, Cello World, etc.
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Rising demand for home cooked food
Growing health consciousness among the people is leading to the demand for homely cooked food. Also, most educational institutions are expecting students to bring home made lunch boxes. Working professionals opt for home cooked food as it is fresh, nutritious, hygienic, and pocket friendly. Hence, rapidly changing consumer preferences is likely to propel the global market for lunch boxes in the near future.
Product portfolio extension of lunch boxes
Nowadays, a variety of lunch boxes are available in the market; innovation in lunch boxes will trigger the growth of the market. Electric lunch boxes are seeing growing demand due to its convenience and easy to heat option. Furthermore, other options available in lunch boxes include microwave safe, freezer safe, dishwasher safe, insulated, air tight, and liquid tight. Thus, production innovation is expected to be a dominant growth factor in the lunch box market.
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The global lunch box market can be segmented based on:
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