Global Electric Tiffin Market Outlook
As of 2017, the electric appliance market is being valued at US$ 668.9 Bn and is being anticipated to register a CAGR of 7.2% in terms of value sales over the forecast period. The electric appliance has a wide range of product offerings which includes refrigerator, wine-coolers, washing machine, tumble dryers, vacuum cleaners, steam mops, shavers etc which has witnessed surging demand from its target customers over the decades. However, the electric appliance manufacturers are now getting into untapped markets by converting some of the traditional food appliances to electric appliances which strategize through innovation factor. Electric Tiffin is one such food appliance which has been gradually gaining traction among its target customers due to its unique features provided. An electric tiffin box is designed to heat the food content stored at any given time.
Global Electric Tiffin Market: Reasons for Covering this Title
A major chunk of the global population especially in countries like the U.S., China, India, U.K and major countries, have adopted a busy lifestyle due to the rise in the number of working population. Within this daily course of the busy schedule, consumer desire for fresh and hot food to consume at any given time. Taking this fact into consideration, some of the major electric appliance companies have been strategizing on coming up with an electric appliance which matches up with the requirements of its target customers. There are several crucial benefits associated with the usage of electric tiffin. Electric Tiffin offers a great and inexpensive alternative to traditional tiffin boxes. Unlike traditional tiffin boxes, electric tiffin boxes maintain the freshness and taste of food content until one consumes it. Electric tiffin boxes save a significant amount of time and money for hot food over the restaurant or pick up food. Moreover, the electric tiffin boxes are convenient and easy to use by simply plugging-in to heat food content anywhere anytime.
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Global Electric Tiffin: Market Segmentation
On the basis of types, the global Electric Tiffin market has been segmented as –
Single layered electric tiffin
Double layered electric tiffin
Multi-layered electric tiffin
On the basis of application, the global Electric Tiffin market has been segmented as –
On the basis of the distribution channel, the global Electric Tiffin market has been segmented as –
Global Electric Tiffin Market: Key Players
Some of the key players operating in the global Electric Tiffin market are Hamilton Housewares Pvt. Ltd. (Milton), Ecoline Appliances, Tayama Appliances USA Inc., Koolatron, Zojirushi America Corporation among others.
Electric Tiffin Market: Key Trends
Some of the major players in the market have been strategizing on launching new innovative Electric Tiffins in the view of extending its product portfolio and simultaneously promoting the product through various channel especially social media sites.
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Electric Tiffin Market: Key Developments
In 2017, Hamilton Housewares Pvt. Ltd. Launched Futron Electric Tiffin for Indian market anticipating consumers’ unspoken need for hot and warm food.
In 2018, Milton released a new television commercial for Microwow Tiffin. The TVC aptly communicates the brand proposition of easing consumer lives by providing India’s office goers with intelligent tiffin solutions to make lunchtime enjoyable without hampering their daily work commitments.
Opportunities for Electric Tiffin Market Participants
With the rise in the number of working population specifically in the Asia Pacific region, consumer desire for homely cooked food but at the same time food consumed needs to be warm. Electric tiffin functionality provides warm food at any given time. Owing to which, global tiffin market sights a critical opportunity in gaining traction among its target customers in the Asia Pacific region. Moreover, electric tiffin is convenient to use providing hot food at any given time. Today’s consumers stress on the convenience factor even when it comes to having food products. Thus the factor of convenience paves way for another opportunity for electric tiffin market to generate sales in the global market.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
An overview of the Electric Tiffin market, including background and evolution
Macroeconomic factors affecting the Electric Tiffin market and its potential
Electric Tiffin Market dynamics, such as drivers, challenges, and trends
Detailed value chain analysis of the Electric Tiffin market
The cost structure of the products and segments covered in the study for Electric Tiffin Market
In-depth pricing analysis, by key product segments, regions and by major Electric Tiffin market participants
Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario for Electric Tiffin
Analysis of the Electric Tiffin market structure, including a tier-wise categorization of key market participants
Competitive landscape of the Electric Tiffin market, including detailed profiles of the top players in this market