Global Electric Rice Cooker
Market Report
2024
Delivery Includes:- Market Timeline 2019 till 2031, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Electric Rice Cooker market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Drivers:
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Market Restrains:
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Market Trends:
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Market Split by Product Type |
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Market Split by Capacity |
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Market Split by Distribution Channel |
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Market Split by End User |
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Market Split by Conclusion | |
List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Electric Rice Cooker Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A rice cooker or rice steamer is an automated kitchen appliance designed to boil or steam rice. It consists of a heat source, a cooking bowl, and a thermostat. The thermostat measures the temperature of the cooking bowl and controls the heat.
The market for electric rice cookers market is growing due to increased consumer awareness about the use of energy-efficiency cooking applications. This can be an appealing factor for the regions where energy conservation is the major factor. Cooking with electricity offers several benefits efficiency in cooking, cost savings, and reduction in energy consumption. According to the report by MECS, around 40% of households are connected to the grid or off-grid electricity to be used for cooking, and 60% of households will use modern energy for cooking which generates less carbon sources by 2030.
Additionally, electric rice cooker manufacturers are focusing more on research and development activities for product designs, to bolster product portfolios and meet the diverse needs of the public. The new launches of innovative products lead to an increase in product visibility among customers.
Consumers have become health-conscious and are looking for appliances that help them to maintain their nutritious diet. An electric cooker helps maintain the nutrition. According to the report by DSM, 60% of the worldwide population said that they have started consuming a healthy diet after the pandemic. (Source:https://www.dsm.com/food-beverage/en_US/insights/insights/consumer-insights/health-conscious-consumers-are-looking-to-enjoy-it-all.html). This was about the overview of the electric rice cooker market.
Globally, customers are willing to spend more on high-quality household equipment as their disposable incomes rise. People now have more money to spend on non-essential products like home appliances since economies are expanding and earnings are rising. A rise in purchasing power enables consumers to invest in time and convenience-saving appliances such as electric rice cookers. People who move from rural to urban settings frequently encounter more crowded living conditions and space limitations. The national per capita disposable income in 2022 was 36,883 yuan, a nominal rise of 5.0 percent from the year before and a real increase of 2.9 percent when price variables were taken into account. (Source:https://www.stats.gov.cn/english/PressRelease/202301/t20230118_1892303.html).
In these hectic settings, traditional cooking techniques which could need more time and care become less possible. The demand for electric rice cookers in both developed and developing countries is driven by the convenient and efficient way that these appliances enable urban residents to prepare rice, even in small kitchens with limited time.
Electric rice cookers are perfect for small flats and communal living spaces that are typical in metropolitan areas because of their portability and simplicity of use. Rapid urbanization and the rise in disposable incomes are combined to create the ideal conditions for the widespread use of electric rice cookers. are generating the ideal conditions for the widespread use of electric rice cookers. The demand for rice cookers is also fueled by the rising popularity of meal packages and online food delivery services, which frequently serve rice-based cuisine. To meet the varied demands of urban consumers, manufacturers are continuously coming up with new rice cooker models that have extra features and functionalities. Hence, increasing disposable income and rapid urbanization help to boost the market for electric cookers.
To stay competitive, manufacturers in the electric rice cooker market are constantly creating new models with improved features and performance. Even though more value has been added to the items, their prices have dropped and have stayed low for several years. The pressure from competitors with lower production costs was the cause of the price reduction. Furthermore, businesses are under pressure to increase their profit margins due to the intense competition in the market. Companies are being forced to create new products as a result of this price drop. This market may be propelled forward by the trend of less expensive home appliances.
The lifestyles of the individuals have experienced notable modifications, leading to a notable decrease in the amount of time allocated to recreational pursuits and household duties. The shortage of time has led individuals to look for other ways to free up more time for leisure, such as cutting down on or doing away with the time needed for home duties. This has increased demand for household automation for routine tasks like cooking and cleaning. One of the main factors propelling the market expansion for electric rice cookers is anticipated to be the reduction in time spent on household duties. Hence, increasing the affordability of household applications and reducing time for household activities can help the market grow.
Counterfeit items have become more prevalent due to the high cost and growing demand for electric rice cookers. In emerging economies, counterfeit brands are common since consumers there are very price-conscious. Job losses and direct and indirect industrial income losses have been caused by counterfeiting and its effects on consumers' perceptions and enterprises. Consequently, the presence of fake goods in the market damages the reputation of the brand and the product, which is anticipated to limit the market's expansion for electric rice cookers. Hence, the high price of the product can hamper the market for electric rice cookers.
The pandemic has had a notable impact on the electric rice cooker market. Due to the lockdown protocols and work-from-home initiatives during the most recent global COVID-19 epidemic, production facilities have been closed. Consequently, 2020 saw a decline in production capacity, which contributed to the year-long decline in the market for electric rice cookers. Furthermore, the growth of community restaurants in Asia Pacific markets, particularly in India, is driving up demand for electric cookers for large-scale rice cooking, keeping the market stable even during the recent COVID-19 emergency. These restaurants provide meals to the working class and other impoverished workers. This was about the impact of a pandemic on the electric rice cooker market.
For low- to middle-class consumers, the selling price of the appliance, its durability, product life and maintenance, and its annual power usage are important considerations. Thus, it is anticipated that the development of durable, reasonably priced cooking equipment would increase the rate of adoption among lower- and middle-class populations. Smart and connected equipment is in high demand among the higher-income group. Urban homes are becoming more and more dependent on cell phones, wireless technology, and the Internet of Things. Product replacement rates for consumers who currently use traditional appliances might increase with the development of intelligent appliances.
Moreover, throughout the projection period, it is expected that creative product development will raise customer visibility. As an example, Xiaomi has released a new Wi-Fi induction rice cooker that lets customers adjust the rice's tenderness using the MIJIA app, which shows over 2000 various heating techniques in contrast to conventional appliances. (Source:https://www.mi.com/global/product/xiaomi-smart-multifunctional-rice-cooker/). Advancements in technology will create new opportunities for the market to grow.
• For instance, according to the data by Statista, due to advancements in electric rice cookers in Japan's home appliances sector, the number of electric rice cookers produced rose by 0.1 million units (+2.86%) in comparison to the previous year. In 2022, the total number of units produced was 3.62 million.
(Source:https://www.statista.com/statistics/951177/japan-electric-rice-cooker-production-volume/).
• On 21 June 2023, Tiger Corporation, a global leader in thermal control technology with its headquarters located in Kadoma City, Osaka, and President Yoshisato Kikuchi, will introduce a commemorative model of the TIGER COOKPOT COK-A220 electric pressure cooker to mark its 100th anniversary.
• On June 20, 2023, Panasonic Corp. of Japan announced the launch of the first rice cooker in history to use precisely the proper amount of water and rice mechanically.
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The rice cookers that include easy-to-clean and maintain anti-rust, anti-fingerprint, and anti-scratch coatings, manufacturers are stepping up their game. Additionally, they are concentrating on the launch of cutting-edge goods such as small electric rice cookers that accommodate kitchens with limited space and enhance the appearance of any countertop. Voice activation, customizable settings, and smartphone management are becoming more popular features for smart rice cookers. Multi-functionality increases adaptability by enabling users to prepare more than simply rice and satisfy a range of nutritional requirements.
It is anticipated that major players in the electric rice market will concentrate on advancing technological advancement to increase the energy efficiency of electric rice cookers and work to manufacture goods with greater energy efficiency. To encourage consumers to buy energy-efficient electric rice cookers, manufacturers want to quickly introduce energy efficiency labeling and will make every effort to supply relevant information.
Top Companies Market Share in Electric Rice Cooker Industry: (In no particular order of Rank)
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The Asia-Pacific region dominates the market for electric rice cookers. In many Asian countries, rice is a staple food that is eaten virtually every meal. As a result, there is a growing desire for quick and easy ways to prepare rice, which makes rice cookers a necessary household tool. Large populations can be found in nations like China, India, and Indonesia, and many of them are enjoying increased disposable income, which is fueling the growth of a sizable and constantly expanding market for home equipment like rice cookers.
North America is the fastest-growing region. Comparatively speaking to other regions, North America has larger average home living spaces. Countries such as the US and Canada, with their high levels of discretionary income and good living standards, strongly encourage the usage of electric rice cookers. Additionally, the use of electric rice cookers has been continuously rising as a result of consumer's preference for modular kitchens and their need to cook a wider range of meals more quickly. The working class desires an electric rice cooker that expedites the cooking process, hence enhancing convenience and ease of living. Hence, the Asia-Pacific region dominates the market for electric rice cookers and North America is the fastest-growing region.
The current report Scope analyzes Electric Rice Cooker Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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According to Cognitive Market Research, the North America Electric Rice Cooker market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to Cognitive Market Research, the Europe Electric Rice Cooker market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to Cognitive Market Research, the Asia-Pacific Electric Rice Cooker market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to Cognitive Market Research, the South America Electric Rice Cooker market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
According to Cognitive Market Research, the Middle East and Africa Electric Rice Cooker market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.
Global Electric Rice Cooker Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Electric Rice Cooker Industry growth. Electric Rice Cooker market has been segmented with the help of its Product Type, Capacity Distribution Channel, and others. Electric Rice Cooker market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Standard cooker dominates the market in product type. Rice may be cooked easily and affordably using standard electric rice cookers. These entry-level models cater to a broad spectrum of customers by offering basic features like keep-warm and automated cooking. They are appealing to people who want a simple rice-cooking solution without any further hassles. Standard electric rice cookers are a popular option for anyone searching for a simple and dependable cooking device because of their cost and convenience of use. This was about the segmentation on the basis of product type where standard cooker dominates the market.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Electric Rice Cooker Industry. Request a Free Sample PDF!
Due to the ability to serve single people or small homes with lower rice consumption, small-volume electric rice cookers dominate the market. Typically, these small and lightweight models hold one to three cups of raw rice. For individuals who need to prepare smaller servings, they provide ease and ensure effective rice cooking without wasting any food. Students, singles, and small families that appreciate space-saving equipment and the capacity to cook precisely the necessary amount of rice for their requirements are the main consumers of small-volume electric rice cookers. This was about the segmentation based on capacity type where small-volume cooker dominates the market.
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Supermarkets and hypermarkets dominate the market based on distribution channels. Large-scale retail establishments such as supermarkets and hypermarkets stock a variety of goods, including several electric rice cooker models and brands. The chance to evaluate various products side by side and the ease of one-stop purchasing draw in customers looking for an electric rice cooker. Due to their competitive pricing, frequent promotions, and affordable options, supermarkets and hypermarkets are convenient and affordable places for customers to buy electric rice cookers. This increases the market's visibility and availability. This was about the segmentation on the basis of Distribution Channel type where Supermarkets and hypermarkets dominates the market.
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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Based on the Electric Rice Cooker Market study mentioned above, it can be inferred that the global market for embedded hypervisors is anticipated to grow rapidly shortly. The market dynamics, segmentations, status and trends, and major players can all be understood and inferred from the research. It offers information on a range of subjects, including market size, current trends, the competitive environment, and the likelihood of future growth. This makes it possible for the reader to comprehend and obtain trustworthy market and industry data.
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(Source:https://www.tiger-corporation.com/en/jpn/newsroom/press-release/pr_230530_01/)
(Source:https://mainichi.jp/english/articles/20230620/p2a/00m/0bu/006000c)
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Product Type | Standard, Multifunctional, Induction, Others |
Capacity | Small Volume, Medium Volume, Large Volume, Extra Large Volume |
Distribution Channel | Supermarkets and Hypermarkets, Specialty Stores, Online Stores, Others |
End User | Household, Commercial |
Conclusion | |
List of Competitors | Panasonic Corporation, Tiger Corporation, Zojirushi American Corporation, Bajaj Electricals, Breville Group Limited, Hitachi Appliances, Toshiba Corporation |
This chapter will help you gain GLOBAL Market Analysis of Electric Rice Cooker. Further deep in this chapter, you will be able to review Global Electric Rice Cooker Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Capacity Analysis 2019 -2031
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Chapter 12 Market Split by Distribution Channel Analysis 2019 -2031
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Chapter 13 Market Split by End User Analysis 2019 -2031
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Chapter 14 Market Split by Conclusion Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Electric Rice Cooker market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Standard have a significant impact on Electric Rice Cooker market? |
What are the key factors affecting the Standard and Multifunctional of Electric Rice Cooker Market? |
What is the CAGR/Growth Rate of Small Volume during the forecast period? |
By type, which segment accounted for largest share of the global Electric Rice Cooker Market? |
Which region is expected to dominate the global Electric Rice Cooker Market within the forecast period? |
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