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The self heating instant hot pot market share is expected to increase by USD 382.48 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.18%.
The report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by distribution channel (online and offline) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The market report also offers information on several market vendors, including HAIDILAO INTERNATIONAL HOLDING Ltd., Shanghai Moxiaoxian Food Co. Ltd., Xiaolongkan Hotpot, HONG PHAT IMPORT EXPORT Co. Ltd., and CHONGQING RUYA TECHNOLOGY Co. Ltd. among others.
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The rise in the use of self-heating products by hot pot restaurants is notably driving the market's growth, although factors such as fluctuating raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the self heating instant hot pot industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Self Heating Instant Hot Pot Market Driver
The rise in the use of self heating products by hot pot restaurants is one of the factors driving the market's growth. HaiDiLao, a famous chain of hot pot restaurants, is also a top self-heating instant hot pot brand. It makes use of the self-heating feature to expand the use of hot pots and the appeal of its brand to domestic gatherings. Even though each service costs about $5.53, it is a reasonable option for people who cannot afford to eat out more frequently. Without a doubt, HaiDiLao's reputation has contributed significantly to improving its image and drawing customers to the self-heating format of instant hot pots. Such factors are anticipated to accelerate the growth of the market during the forecast period.
Key Self Heating Instant Hot Pot Market Trend
Target snacking occasions are one of the key market trends fueling the market growth. Self-heating capabilities, which allow meals such as hot pot and rice/noodles to be made available in a packaged, shelf-stable format through retailers, have spurred a huge, quick rise of the market in recent years. Sales have increased even more as a result of the COVID-19 outbreak as consumers were seeking greater convenience and culinary experiences. Given the dislike that many consumers have for cold food and drink, the self-heating model has the potential to expand into new categories, including snacks, drinks, and even dairy. Thus, these factors are expected to drive the growth of the market during the forecast period.
Key Self Heating Instant Hot Pot Market Challenge
Fluctuating raw material prices are one of the factors impeding market growth. Raw materials such as aluminium, paper, and plastics have volatile prices based on their availability. Also, the growing gap between their supply and demand in recent years has increased the costs of raw materials considerably. Any increase in the price of raw materials, such as plastic, increases the manufacturing cost of packaging and leads to lower profit margins for vendors. Furthermore, to remain competitive in the market, manufacturers are experimenting with low-cost substitutes, which might compromise the quality of the product. All these factors are hindering the growth of the market during the forecast period.
This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global self heating instant hot pot market as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is concentrated, and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the self heating instant hot pot market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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59% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for self heating instant hot pots in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing middle-class population will facilitate the market's growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 hampered the business operations of self heating instant hot pot vendors in APAC. However, in 2021, with the implementation of large-scale vaccination drives and partial relaxation in lockdown norms, there was an increase in demand for self heating instant hot pot products in the region as governments eased online delivery norms, which is expected to drive the growth of the regional market during the forecast period.
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The market share growth in the online segment will be significant during the forecast period. Customers are shifting from offline/brick-and-mortar stores to online retail stores, mostly owing to the wide penetration and geographical reach of e-retailers such as Amazon.com and JD.com. In addition, the growth in infrastructure suitable for the penetration of e-commerce services is also propelling the preference for the online distribution channel. Thus, the increased Internet penetration and the growing adoption of smartphones will drive the growth of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.
Self Heating Instant Hot Pot Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.18% |
Market growth 2022-2026 |
$382.48 million |
Market structure |
Concentrated |
YoY growth (%) |
6.78 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 59% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
HAIDILAO INTERNATIONAL HOLDING Ltd., Shanghai Moxiaoxian Food Co. Ltd., Xiaolongkan Hotpot, HONG PHAT IMPORT EXPORT Co. Ltd., and CHONGQING RUYA TECHNOLOGY Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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