Home Rice Cooking Appliances Market Size, Share, 2032

7 min readDec 21, 2024

The global electric rice cooker market was estimated to be worth USD 3.53 billion in 2023 and is expected to grow to USD 6.07 billion by the end of 2032, per a report released by Zion Market Research. Over the course of the projected period, the market is anticipated to expand at a CAGR of 6.2%. The growth factors, barriers, and effects on demand of the worldwide electric rice cooker market are examined in this study over the period of forecasting. Additionally, it will assist in navigating and investigating the growing potential in the market for electric rice cookers.

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Introduction

The electric rice cooker market has witnessed remarkable growth in recent years, driven by the increasing demand for convenient and efficient cooking appliances. These versatile kitchen tools offer ease of use, energy efficiency, and consistency in cooking, making them popular among busy households and commercial kitchens alike. With advancements in technology, electric rice cookers now feature smart capabilities and multi-functionality, further fueling their adoption.

Overview of the Global Electric Rice Cooker Market

An electric device used to prepare rice is called a rice cooker. The appliance consists of an insulated exterior container and a detachable bowl inside that is covered in non-stick material. It also emphasises the importance of maintaining a certain water level for the rice’s quality before placing it in the container. With the use of an electric element, this cooker uses heating to bring rice to a boil. There are many rice cookers on the market, including both automated and non-automatic models. For cooking a variety of rice specialities, more consumers are choosing to use rice cookers.

Electric rice cookers are automated kitchen appliances designed to cook rice by adding water and rice to the cooker, selecting the cooking mode, and waiting for the cooker to automatically switch to a “keep warm” setting once the rice is cooked. Over the years, electric rice cookers have evolved from basic models to advanced devices with multiple functions, such as steaming, slow cooking, and even pressure cooking.

Growth Factors for the Global Electric Rice Cooker Market

People are being influenced to have hands-on electric rice cookers by the shifting consumer lifestyle brought on by the fast-paced work culture and lengthy commutes. Individuals these days are more likely to favour convenience products that make job easier. Furthermore, these electric rice cookers were one of the most popular products among consumers because they required relatively less time and attention. Consumers’ reliance on easily operated smart electrical equipment has grown significantly in tandem with the rise in the number of working women. In the upcoming years, this kind of environment is probably going to boost market value and opportunity even more.

Additionally, consumers have shifted from gas-based kitchen appliances to electric ones due to rising cooking gas prices. Manufacturers are putting a lot of effort into research and development in order to expand their product line and meet the ever-increasing needs of contemporary consumers. In order to draw clients, the producers are also concentrating on introducing appliances with cutting-edge designs that give the product an opulent appearance. Although the COVID-19 pandemic had a major impact on the global electric rice cooker market, companies’ continued growth and expanded multifunctional capabilities are also anticipated to favourably influence the market’s trajectory in the years to come. Nonetheless, consumers are also influenced to purchase smart appliances by how simple they are to maintain.

Market Segmentation for Electric Rice Cookers Worldwide

The market for electric rice cookers worldwide can be divided into three segments: geographies, distribution channels, and end users. The market can be divided into home and commercial customers based on end users. Because more people are working worldwide, the home segment holds the greatest share of the global electric rice cooker market. The market can be divided into e-commerce, speciality shops, supermarkets, and other distribution channels. Supermarkets used to be the most popular place to buy electric rice cookers, but with the rise of massive online retailers, the e-commerce sales channel now holds the biggest market share for electric rice cookers worldwide, with a robust compound annual growth rate (CAGR) of 10.1% over the forecast period. Convenience, free shipping, and simple returns are some of the main elements driving the market’s expansion.

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Market Analysis of Electric Rice Cookers: Report Scope

Regional Analysis of the Global Electric Rice Cooker Market

Because of the busy lifestyles of its customers, Asia Pacific holds the greatest share of the global market for electric rice cookers. Furthermore, some of the major elements favourably influencing the regional market’s trajectory in the upcoming years are rising disposable income, a high employment rate, the expanding number of working women, and rising living standards. Additionally, since rice is a staple food in China, one of the world’s biggest consumers, the region is expected to play a major role in the expansion of the worldwide market for electric rice cookers.

Market Size and Growth The electric rice cooker market has expanded globally, driven by growing disposable incomes, urbanization, and a rising preference for easy-to-use cooking appliances. Consumers are increasingly turning to electric rice cookers for their ability to simplify meal preparation, especially in fast-paced lifestyles.
Market Segmentation
Technological Innovations Technological advancements in electric rice cookers have introduced smart features like digital controls, temperature sensors, and preset cooking modes. Many modern rice cookers come with Wi-Fi and Bluetooth capabilities, enabling users to control the device via smartphones or voice assistants like Alexa and Google Assistant. These innovations contribute to better cooking results and an enhanced user experience.

Key Market Drivers

Convenience and Time-Saving The primary factor driving the growth of the electric rice cooker market is the convenience it offers. These cookers save time and effort by automatically adjusting cooking time and temperature, ensuring perfectly cooked rice with minimal attention.
Rising Demand for Smart Kitchen Appliances With the increasing popularity of smart homes and IoT-connected devices, the demand for smart rice cookers is growing. Consumers are attracted to models that offer remote control, personalized cooking settings, and integration with other smart home appliances.
Urbanization and Busy Lifestyles As urbanization continues to rise, more people are seeking time-saving solutions in the kitchen. Electric rice cookers are a popular choice in urban households, where time constraints often limit the ability to prepare traditional meals.
Rising Disposable Income With increasing disposable income, especially in emerging economies, consumers are more willing to invest in high-quality electric rice cookers that offer advanced features and durability.

Challenges in the Market

High Initial Cost for Advanced Models While basic rice cookers are affordable, the advanced models with smart features or multifunctionality can come with a higher price tag. This may limit adoption in price-sensitive markets, especially in developing regions.
Lack of Awareness in Developing Markets Despite the popularity of electric rice cookers in developed regions, many consumers in emerging economies are still unfamiliar with the product or may prefer traditional cooking methods. Educating consumers and promoting the benefits of electric rice cookers will be critical for market expansion.
Competition from Alternative Cooking Methods The rise of alternative cooking appliances, such as multi-cookers and pressure cookers, which offer rice cooking as one of several features, presents a challenge to the growth of dedicated electric rice cookers.

Regional Analysis

North America: North America is a mature market for electric rice cookers, with strong demand from households that prioritize convenience and healthy cooking options. Brands like Instant Pot and Zojirushi dominate the market with multi-functional and smart rice cookers.
Asia Pacific: The Asia Pacific region holds the largest share of the electric rice cooker market, driven by the widespread consumption of rice in countries like China, Japan, India, and Southeast Asia. Here, rice cookers are a staple in most households, with demand further fueled by population growth and urbanization.
Europe: The European market is growing, with rising interest in healthy cooking and convenient kitchen appliances. Multi-functional and smart rice cookers are gaining popularity among consumers seeking all-in-one cooking solutions.
Latin America and the Middle East & Africa: These regions are seeing gradual adoption of electric rice cookers, especially as disposable incomes rise and consumers begin to adopt more modern cooking appliances.

Key Players in the Market

Panasonic Corporation
Zojirushi Corporation
Tiger Corporation
Cuckoo Electronics Co. Ltd.
Samsung Electronics
Midea Group
Tefal (Groupe SEB)
Sharp Corporation
Hamilton Beach Brands
Instant Brands

These companies are focusing on innovation, expanding product features, and enhancing consumer appeal by integrating smart technologies and improving product durability.

Conclusion

The electric rice cooker market is poised for steady growth as consumer demand for convenience, smart technology, and multifunctional kitchen appliances continues to rise. With advancements in technology and increasing adoption across regions, electric rice cookers will remain an essential kitchen appliance for households worldwide. However, addressing challenges such as higher costs for advanced models and raising awareness in developing markets will be key to sustaining market growth.

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