Global Electric Rice Cooker Market to Reach US$ 6.7 Billion by 2032, Stimulated by Rising Focus on Minimizing Energy Consumption

July 26, 2023 | Retail

According to the latest report by IMARC Group, titled “Electric Rice Cooker Market Report by Product (Standard, Multifunctional, Induction, and Others), Capacity (Small Volume, Medium Volume, Large Volume, Extra Large Volume), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores, and Others), End User (Household, Commercial), and Region 2024-2032,” the global electric rice cooker market size reached US$ 4.2 Billion in 2023. 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$ 6.7 Billion by 2032, expanding at a CAGR of 5.3% during 2024-2032.

Market Summary:

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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Product Capacity Distribution channel End User Region
Products Covered	Standard, Multifunctional, Induction, Others
Capacities covered	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
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	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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Global Electric Rice Cooker Market to Reach US$ 6.7 Billion by 2032, Stimulated by Rising Focus on Minimizing Energy Consumption

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