Electric Rice Cooker Market

Electric Rice Cooker Market Snapshot 2022 - 2032

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.

Ease of rice cooker to get perfectly cooked rice in few minutes is making electric rice cookers popular in urban countries.

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.

Frequent problems with the rice cookers are creating problems for sales.

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.

Country Insights

Japan uses electrical rice cookers daily to cook the perfect rice for meals.

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.

Busy lifestyle of Americans is helping the electric rice cookers market in country.

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.

Competitive Landscape      

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.

• Toshiba is providing advanced electrical rice cooker for the customers. There are many features included by the manufacturer. The rice cookers have multiple rice cooking and cooking menus. Some of the rice cookers are capable of baking too. Some models have ‘Timer’ feature, which automatically cooks the rice at given time, saving the user time when home tired from work.
• Electrolux have electrical rice cookers, which are providing users ease in cooking rice, along with basket accessory, which allows them to steam vegetables and dumplings in no time. The rice cooker keeps the rice warm for more than 5 hours, allowing the user to eat fresh rice as their convenience.

Scope of Report

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.

Key Segments Profiled in the Electric Rice Cooker Market

By Product Type:

• Standard
• Multifunctional
• Induction
• Others

By Application:

• Household
• Commercial

By Distribution Channel:

• Hypermarket/Supermarket
• Specialty Stores
• Electronics Stores
• Online Store

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa