Throughout the projected period, the global electric rice cooker market is anticipated to maintain a moderate CAGR of 6.1%. The global market is expected to generate US$3.38 billion in sales in 2022 and US$6.11 billion by the end of 2032.
Automation of the rice cooking process by electronically or mechanically controlling heat and timing is done by electric rice cookers. Rice Cookers have established themselves as a major kitchen appliance in the last 10 years spanning a significant number of households in the urban space.
Electric rice cookers are controlled by a thermostat that measures the temperature of the cooking vessel and controls the heat.
The major attributes for electric rice cookers to be a popular cooking appliance has been is array of cooking programs which enables to cook all kinds of grains, different kinds of rice oatmeal as well as polenta, vegetables, soups and stews.
Key manufacturers in the market are focusing on product development with the introduction of functional features such as microwave and dishwasher safe materials, warming settings and steaming baskets etc.
Appliances that are comforting as well as fit for fast paced life have found significant space in the recent routines. Time saving appliances ae preferred over price by consumers in the developing economies.
The rise in the number of working professionals has further contributed towards the growth in the electric rice cooker market globally. Owing to the above mentioned factors, global electric rice cooker market is anticipated to witness maximum growth in the coming years.
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Electric Rice Cooker Market: Dynamics
The rise in disposable income in developing countries such as India, China and Brazil urban clusters has resulted in increase in the spending and the elevated demand for effort savings electric rice cookers.
Low energy consumption costs have also proved to be a pivotal factor for the consumers as against rising prices of cooking gas is also significantly contributing to the growth in global electric rice cookers market. Readily available product customization further has positively impacted to the growth of Electric Rice Cookers market.
The COVID-19 pandemic has impacted the global economy at various levels where overall consumer spending activity has reduced to a considerable extent. As a result, a substantial slowdown in home appliances has been witnessed in the first 2 quarters of 2020 has been witnessed.
However, use of rice cookers as an essential item can also act as a leverage for its sales for individuals residing in remote and inaccessible areas. The overall global Electric Rice Cookers market growth curve is expected to recover within the next 4 quarters.
Electric Rice Cooker Market: Regional Outlook
With rice being the key staple diet in the Asia Pacific region, the Electric Rice Cookers will continue to witness elevated demand in the coming years.
Growth in demand for premium products in U.S. and various European countries is anticipated to create significant opportunities for the global Electric Rice Cookers market. Africa and Latin America are both estimated to witness steady growth in the demand for the Electric Rice Cookers in the coming decade.
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Electric Rice Cooker Market: Key Participants
Some of the key market participants in the global Electric Rice Cookers market, identified across the value chain include:
- Toshiba Corporation
- Conair Corporation
- TTK Prestige Ltd.
- Sunbeam Product Inc.
- AB Electrolux
- Panasonic Corporation
- Groupe SEB
- Breville Group
- Bajaj Electricals Limited
- Koninklijke Philips N.V.
- Ali Group Srl
- Wonderchef Home Appliances Pvt. Ltd.
- Newell Brands (Oster)
The research report on the Electric Rice Cookers market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Electric Rice Cookers market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, aircraft type, and sales channel.
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The report covers exhaustive analysis on
- Electric Rice Cookers Market Segments
- Electric Rice Cookers Market Dynamics
- Electric Rice Cookers Market Size
- New Sales of Electric Rice Cookers
- Current Trends/Issues/Challenges in the Electric Rice Cookers Market
- Competition & Companies Involved in Electric Rice Cookers
- New Technology for Electric Rice Cookers
- Value Chain of the Electric Rice Cookers Market
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The global Electric Rice Cookers market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
Electric Rice Cooker Market: Segmentation
The global Electric Rice Cookers market can be segmented on the basis of Product Type and Application and Distribution Channel.
On the Basis of Product Type
- Standard
- Multifunctional
- Induction
- Others
On the Basis of Application
- Household
- Commercial
On the Basis of Distributional Channel
- Online
- Offline
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