According to the latest report by IMARC Group, titled “Electric Rice Cooker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global electric rice cooker market size reached US$ 3.9 Billion in 2022. An electric rice cooker is a kitchen appliance specifically designed to simplify and automate the process of cooking rice. It includes a heat source, a cooking bowl, and a thermostat that controls the temperature. It is available with various additional functions, such as slow cooking, baking, and frying, making them versatile appliances for various cooking needs. It is energy-efficient and uses less energy compared to a stovetop. It offers unparalleled convenience in the kitchen as it automates the rice cooking process, eliminating the need for constant monitoring and stirring. It is also employed for steaming vegetables and dumplings and even preparing soups.
Global Electric Rice Cooker Market Trends:
At present, the increasing utilization of electric rice cookers to save time and prevent over-cooking rice represents one of the crucial factors impelling the growth of the market. Besides this, the rising popularity of electric rice cookers, as they are portable and ideal for small kitchens and dormitories, is contributing to the growth of the market. In addition, the growing adoption of smart and connected appliances which can be monitored remotely through mobile apps is offering a favorable market outlook. Apart from this, the rising focus on minimizing energy consumption by various electronic devices is supporting the growth of the market. Additionally, the increasing number of e-commerce platforms selling various types of electric rice cookers is bolstering the growth of the market. Looking forward, the market value is projected to reach US$ 5.7 Billion by 2028, expanding at a CAGR of 5.97% during 2023-2028.
- Based on the product, the market has been segmented into standard, multifunctional, induction, and others. Standard currently dominates the market, holding the largest share.
- On the basis of the capacity, the market has been divided into small volume, medium volume, large volume, and extra large volume. At present, small volume represents the biggest market share.
- Based on the distribution channel, the market has been classified into supermarkets and hypermarkets, specialty stores, online stores, and others. Presently, supermarkets and hypermarkets exhibit a clear dominance in the market.
- On the basis of end user, household represents the largest segment, followed by the commercial.
- Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being AB Electrolux, Bajaj Electricals Ltd., Breville Group Limited, Groupe SEB, Koninklijke Philips N.V., Newell Brands, Panasonic Corporation, Tiger Corporation, Toshiba Corporation, TTK Prestige Ltd., Wonderchef Home Appliances Pvt. Ltd, Zojirushi Corporation, etc.
|Base Year of the Analysis
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
- Distribution channel
- End User
||Standard, Multifunctional, Induction, Others
||Small Volume, Medium Volume, Large Volume, Extra- Large Volume
|Distribution channels covered
||Supermarkets and Hypermarkets, Specialty Stores, Online Stores, Others
|End users covered
||Household and Commercial
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AB Electrolux, Bajaj Electricals Ltd., Breville Group Limited, Groupe SEB, Koninklijke Philips N.V., Newell Brands, Panasonic Corporation, Tiger Corporation, Toshiba Corporation, TTK Prestige Ltd., Wonderchef Home Appliances Pvt. Ltd and Zojirushi Corporation.
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