The Electric Rice Cooker Market is likely to hold the global market at a moderate CAGR of ~6.1% during the forecast period. The global market holds a forecasted revenue of ~US$ 3.38 Billion in 2022 and is likely to cross ~US$ 6.11 Billion by the end of 2032.
The electric rice cooker market is anticipated to show promising growth prospects during the forecast period, expanding the electric rice cooker market size.
| Attribute | Details |
|---|---|
| The Electric Rice Cooker Market Estimated Size (2021) | ~US$ 3.19 Billion |
| The Electric Rice Cooker Market Estimated Size (2022) | ~US$ 3.38 Billion |
| The Electric Rice Cooker Market Projected Size (2032) | ~US$ 6.11 Billion |
| The Electric Rice Cooker Market CAGR (2022 to 2032) | ~6.1% |
Electric rice cookers automate the rice cooking process by managing heat and time electrically or manually. Rice cookers have been a popular kitchen device in the recent decade, with a large proportion of metropolitan homes owning one.
A thermostat regulates the heat as it continuously keeps record of the temperature of the cooking pot in electric rice cookers. The ability to cook many types of grains, different types of rice, along with oatmeal and soups. This is one of the main reasons electric rice cookers have become a popular culinary gadget.
Key market players are emphasising on product development by introducing different features which will help people to quickly prepare meals. Such feature includes steaming setting and warming setting, and microwave safe material of the containers and dishwasher compatibility. Kitchen appliances that are both cosy and suitable for a fast-paced lifestyle have gained a big place in current routines. Consumers in emerging economies prioritise time-saving gadgets over pricing.
The COVID-19 pandemic has had a wide-ranging influence on the world economy, with total consumer spending activity declining significantly. As a result, a significant slowdown in household appliances has been seen in the first two quarters of 2020. People avoided purchasing expensive and unnecessary things, as resulting, many electronic appliances manufacturers observed dropping sales.
Many countries have high number of working people. They do not have much time to spend on cooking and other household work. To make sure that cooking does not become a problem, people are using these easy solutions to quickly cook food. As these people have disposable income, they are willing to spend considerable amount on such appliances. Further, these appliances help in cutting other household expenses, including cooking gas bills and other accessories required for cooking food.
Manufacturers are also focusing on introducing innovative and advanced appliances with different features and pre-set cooking modes for quick access. The appliances have different heating modes and accessories, that help in preparing not only rice, but also some soups and stews and boiling vegetables.
There are some problems regarding the rice cookers. New users can frequently face these problems. The common persisting problem with these rice cookers are uneven cooking of rice. There are chances that the heating plate or the cooking vessel may not get proper heat and cause improper cooking. Problems with fuses, internal wiring and heating elements are not diagnosed easily.
Also, there are some cheaper variants of the rice cookers, which do not have good quality components and are prone to damage due to electricity fluctuations. If not used with precautions, there are chances of electrocution. Rarely, improper fitting of the lid and malfunctioning steam outlet can cause explosion.
These are the primary reasons restricting the electric rice cooker market.
Rice is a very important part of Japanese meal. Japanese people eat rice daily, and they include rice in most of their recipes. Japanese household will compulsory have a rice cooker. There are different types of rice cookers, and commonly used ones are pressure rice cooker and conduction rice cooker. Due to inclusion of rice in daily diet and vast history of rice in Japan makes the country the biggest market for electric rice cookers.
Electric rice cookers in American houses are not as common as they are in Asian countries. Americans do not consume rice commonly, and there are very few consumers of rice in the country. But, there are times that people need to cook rice. As American people do not have time to specially cook rice, they are using electric rice cookers, for hassle free and perfect rice every time. There are many restaurants which provide authentic Asian food, and they are also employing electric rice cookers to quickly cook rice.
Some key players in the Electric Rice Cooker market are TTK Prestige Ltd., Sunbeam Product Inc., AB Electrolux, Bajaj Electricals Limited, Koninklijke Philips N.V., Panasonic Corporation, Groupe SEB, Breville Group, Toshiba Corporation, Ali Group Srl, Wonderchef Home Appliances Pvt. Ltd., Conair Corporation and others. These are popular and well-known brands all over the world.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of ~6.1% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical Data Available for | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative units | Revenue in USD Billion, volume in Units, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, pricing analysis |
| Segments covered | Product Type, Application, Distribution Channel, Region |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Thailand, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, South Africa |
| Key Companies Profiled | TTK Prestige Ltd.; Sunbeam Product Inc.; AB Electrolux; Bajaj Electricals Limited; Koninklijke Philips N.V.; Panasonic Corporation; Groupe SEB; Breville Group; Toshiba Corporation; Ali Group Srl; Wonderchef Home Appliances Pvt. Ltd.; Conair Corporation; Others |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The electric rice cooker market is expected to reach a valuation of ~US$ 3.38 Bn in 2022.
Ease of rice cooker for make rice without hassle and investing time and perfection of the machine to make rice are the biggest strengths of the electrical rice cooker. Busy schedule of the working population and development of special technology for the electrical rice cookers, availability of them on online market places are the trends driving the electrical rice cooker market.
Leading players operating in electric rice cooker market are TTK Prestige Ltd., Sunbeam Product Inc., AB Electrolux, Bajaj Electricals Limited, Koninklijke Philips N.V., Panasonic Corporation, Groupe SEB, Breville Group, Toshiba Corporation, Ali Group Srl, Wonderchef Home Appliances Pvt. Ltd., Conair Corporation and among others.
Explore Similar Insights
Electric Rice Cooker Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
