🌍Electric Rice Cooker Market Size, Share & Trends Report 2032🎇
The global Electric Rice Cooker Market is expected to grow from its estimated USD 3.53 billion in 2023 to USD 6.07 billion by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to rise at a CAGR of 6.2%. The growth factors, barriers, and effects on demand for the global electric rice cooker market are examined in this study for the period of forecasting. Additionally, it will support exploration and navigation of the expanding potential in the electric rice cooker sector.
Global Electric Rice Cooker Market: Overview
An electric device used to prepare rice is called a rice cooker. The device is composed of an insulated outer container and a removable, non-stick-coated inside bowl. It also emphasizes the need to keep the water level in the container at a certain level in order to preserve the rice’s quality.
In 2018, the electric rice cooker market in the world was estimated to be worth USD 685.2 million. Over the course of the forecast period, evolving consumer preferences for energy-efficient cooking equipment, such as electric rice cookers, are anticipated to be a major driver of market expansion. As an illustration, the Journal of Food Engineering states that electric rice cookers, which use between 23% and 57% less energy than other traditional cooking equipment, are thought to be the most energy-efficient cooking gadget.
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Global Electric Rice Cooker Market: Growth Factors
Hands-on electric rice cookers are becoming more and more popular as a result of the fast-paced work culture and lengthy travel times that are transforming consumer lifestyles. Convenience items that streamline processes are becoming more and more popular these days. Additionally, because they demand significantly less time and care, these electric rice cookers have grown to be one of the most popular gadgets among users.
Rice is a staple dish in many cultures, and electric rice cookers provide a quick and easy way to make it without needing continual supervision. Smaller homes become the standard as more people move into cities. Because they are small and don’t need a cooktop, electric rice cookers are ideal for little kitchens or apartments.
Global Electric Rice Cooker Market: Segmentation
The end-users, distribution routes, and geographical segments of the worldwide electric rice cooker market can be distinguished.
The market can be divided into residential and commercial end users. Because more people are working abroad, the home segment holds the biggest proportion of the worldwide electric rice cooker market.
Based on volume, the electric rice cooker market is segmented into three categories: low, medium, and large. Because of their tiny size and low price, the low-volume segment of the market was dominant; these products are perfect for smaller homes and single people living in metropolitan areas with little cooking space.
These entry-level models cater to a wide spectrum of customers, especially those in budget-conscious areas, by providing the fundamental features needed for rice cooking.
Convenience, free shipping, and simple returns are a few of the main elements driving the segment’s expansion.
The market can be divided into e-commerce, specialty shops, supermarkets, and other categories based on the distribution channel.
The most popular way to purchase electric rice cookers used to be through supermarkets, but with the rise of massive e-commerce sellers, the e-commerce sales channel now holds the largest share in the global market, with a healthy CAGR of 10.1% over the forecast period.
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Global Electric Rice Cooker Market: Regional Analysis
Because of their busy lifestyles, customers in Asia Pacific hold the highest proportion of the global market for electric rice cookers. In addition, a number of significant aspects that will favorably shape the regional market’s trajectory in the upcoming years include rising standards of living, a high employment rate, an increase in the number of working women, and rising disposable income.
The market for electric rice cookers in Europe has the second-largest share because of the region’s growing multiculturalism and diversity in dietary choices. Consumers are looking for easy ways to make a wide range of rice-based meals from various cuisines. Additionally, because rice is a staple food in China, the country is among the world’s biggest consumers of the grain. As a result, the region is expected to considerably contribute to the expansion of the worldwide electric rice cooker market.
Global Electric Rice Cooker Market: Competitive Players
Some of the significant players in the global electric rice cooker market include;
- Wonderchef Home Appliances Pvt. Ltd
- TTK Prestige Ltd
- Panasonic Corporation
- Newell Brands
- Koninklijke Philips N.V
- Groupe SEB
- Breville Group
- Bajaj Electricals Limited
- Ali Group Srl
- AB Electrolux
The global electric rice cooker market is segmented as follows;
Global Electric Rice Cooker Market: By End-User Segment Analysis
- Commercial Users
- Household Users
Global Electric Rice Cooker Market: By Distribution Channel Segment Analysis
- E-Commerce
- Specialty Stores
- Supermarkets
- Others
Global Electric Rice Cooker Market: Regional Segment Analysis
- North America The U.S. Canada
- Europe France The UK Spain Germany Italy Rest of Europe
- Asia Pacific China Japan India South Korea Southeast Asia Rest of Asia Pacific
- Latin America Brazil Mexico Rest of Latin America
- Middle East & Africa GCC South Africa Rest of Middle East & Africa
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A few electric rice cookers also have extra capabilities that turn them into a multipurpose kitchen tool for preparing healthy meals. Some versions, for example, come with a steaming tray that lets users steam other meals or vegetables while the rice cooks, creating a handy and healthful one-pot meal alternative.
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