A key factor driving the growth of the market is the growing preference for home-cooked meals. Despite the high prevalence of foodservice outlets and easy-to-prepare meal options, it is estimated that more than a third of Americans prefer home-cooked meals and half the population cook 3-6 days a week. Factors such as the growing cost of restaurant meals and the rise of grocery e-commerce encourage consumers to stay at home to prepare meals. Another growth factor is the rising population of health-conscious consumers who prefer home-cooked food over food bought from foodservice delivery outlets. Home-cooked food has a higher nutritional value and is fresh and hygienic. The chances of contamination are also less compared, and it is more economical. Thus, the increased preference for food prepared at home acts as a significant growth driver for the global lunch bags market.
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As per Technavio, the increased adoption of omni-channel strategy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Lunch Bags Market: Increased Adoption of Omni-Channel Strategy
Advancements in technology have a significant impact on retailers' marketing and sales. A growing number of lunch bag vendors are embracing the omni-channel strategy to appeal to the tech-savvy millennial population. This strategy aims to seamlessly integrate consumers' shopping experiences across multiple channels, including stores, PCs, and mobile devices. Vendors are expanding their omni-channel efforts by adding features to their stores' mobile app, such as the option to check for special in-store promotions and search for store inventory. Thus, such initiatives are expected to boost market growth during the forecast period.
“Apart from the increased adoption of omni-channel strategy, product advancements leading to product premiumization and the rise in a number of private-label brands and smaller manufacturers are some other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Lunch Bags Market: Segmentation Analysis
This market research report segments the global lunch bags market by distribution channel (offline and online) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. During the forecast period, the APAC region is expected to maintain its dominance and register the highest incremental growth due to the growing awareness about the health benefits associated with home-cooked meals in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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