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.
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 – Household, Commercial, Offices, Educational Institutions, Hospitality Industry, Foodservice Industry; On the basis of the distribution channel, the global Electric Tiffin market has been segmented as – Direct, Indirect, Hypermarket/Supermarket, Specialty Stores, Independent Stores, Online Store, Others.
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.
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.
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Brief Approach to Research for Electric Tiffin Market: FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, formats, and application of the coconut water concentrate segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Electric Tiffin market sizes.