July 26, 2022 06:15 ET | Source: GreyViews GreyViews

Pune India, July 26, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Lunch Box Market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Lunch Box Market is present across various countries in the above-mentioned regions.  

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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the material type, number of containers, end-user, distribution channel, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global Lunch Box Market are Pacific Market International, Tupperware, Hamilton Housewares Pvt Ltd., Lock&Lock, Pigeon, Cello World, Zojirushi America Corporation, Huhtamaki, American Aerogel, and Cambro Foodservice Equipment and Supplies among others. To achieve a substantial market share in the worldwide Lunch Box Market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Hamilton Housewares Pvt Ltd. is one of the most significant manufacturers and distributors present in the global Lunch Box market.

Lunch box mainly refers to the small hand-held container which is usually applicable for usage in transportation of food to school or to work. These lunch boxes are made from plastic as well as other materials such as aluminium, stainless steel, glass, and silicon among others. A good quality polypropylene plastic is significantly being preferred by the manufacturers and end users due to its features including durability, microwave-safety, dishwasher-safety, and freezer-safety.

Consumption of the lunchbox products is comparatively higher in schools and colleges as increased number of students are preferring home-cooked meals that are highly nutritious, hygienic, fresh, and economical. In addition, the lunch box containers are helping students to avoid health problems or allergic reactions to a certain type of food as they carry their own lunch. Moreover, a large number of educational institutions across the globe are encouraging students to bring homemade lunch. All of the aforementioned factors are contributing to the growth of global lunch box market.

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Scope of Lunch Box Market Report

Plastic segment is expected to be the fastest growing segment in 2021.

The material type segment includes metal, plastic, others. Plastic segment is expected to witness highest growth rate during the forecast period. Upsurge in consumer preference to lightweight packaging materials has mainly contributed to growth of this segment. In addition, lunch box made of plastic materials are cost effective. For instance, average cost of plastic lunch box is nearly one third of stainless steel-based products. Such factors are projected to boost demand for lunch box made of plastic materials.

Online retail segment is expected to be the fastest growing segment in 2021.

The distribution channel segment includes supermarkets and hypermarkets, convenience stores, online retail, and others. Online retail segment is expected to witness highest growth rate during the forecast period. Features such as doorstep product delivery and easier product selection has mainly contributed to the growth of this segment. In addition, the social distancing norms during COVID-19 pandemic has enabled people to turn towards online shopping. This has caused considerable impact on shopping behaviour of consumers, creating lucrative growth opportunities for the market.

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the raw material include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

Asia-Pacific region witnessed a major share. Huge growth in population across in the schools, corporate sector, and colleges in this region is mainly fuelling the lunch box market. However, North America is expected to witness considerable growth rate during the forecast period. Growth of this region is driven by availability of range of lunch box items through multiple distribution channels. In addition, the region is seeing increase in working population.

Germany Lunch Box market size was valued at USD 1.11 billion in 2021 and is expected to reach USD 1.81 billion by 2029, at a CAGR of 6.6% from 2022 to 2029. Germany is the largest market for food and beverages in the European Union. In addition, according to the European Commission, as of December 2020, there were about 33.69 million people in this country were employed. This significance of working population in the country creates demand for lunch boxes. In addition, according to the Deutsche Welle (DW), a German public, state-owned international broadcaster, there is more than 1.8 million people in the country are studying across 350 universities and colleges. This growing in students’ further boosts demand for lunch boxes.  

China Lunch Box market size was valued at USD 2.01 billion in 2021 and is expected to reach USD 3.22 billion by 2029, at a CAGR of 6.3% from 2022 to 2029. The average food consumption per capital is continuously increasing in this country. Hence, huge consumption of food products in this country is projected to boost growth of the Lunch Box market.  In addition, according to UN data, this is the world's most populous country.  Hence, the huge number of working professionals and school-going students in the country has become prominent factor contributing to the market growth.

India Lunch Box market size was valued at USD 0.40 billion in 2021 and is expected to reach USD 0.69 billion by 2029, at a CAGR of 7.2% from 2022 to 2029. India is one of the strongest growing economies in Asia. In addition, the emerging popularity of Lunch Box in this country is expected to create lucrative growth opportunities for Lunch Box market.

Growth of the market in this country is mainly driven by rising population along with upsurge in a number of school going children. For instance, according to the UNICEF, there the Education System in India is one of the largest around the globe with over 8.5 million teachers, 1.5 million schools, and 250 million children.

Covid-19 had a major impact on almost all of the industries such as food & beverages, manufacturing, etc. The demand for raw material has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of raw material were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for raw material significantly decreased.

Moreover, the pandemic has caused closure of schools, colleges, and work places. This has significantly led to the declined demand for lunch boxes.  

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Global Lunch Box Market Size by Material Type (Stainless Steel, Vinyl or Polypropylene, Glass, and Others), Number of Containers (1 to 3, 3 to 6, and Others), End-user (Working professionals, Students, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), Regions, Segmentation, and forecast till 2029.  

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