Electric Rice Cooker Market

The 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. These days, electric rice cooker comes with easy-to-use programmable settings, which make cooking various dishes, a breeze. The other good feature of rice cookers is the ',keep-warm', function. It keeps the rice warm for a long time and eliminates the need to reheat the food.

Electric Rice Cooker Market Drivers:

• Increasing practical and dependable cooking solutions

The demand for practical and dependable cooking solutions is increasing as technology advances and consumer lifestyles become more hectic, which bodes well for the future growth of the electric rice cooker market. Sustainability and energy efficiency are increasingly important market concerns in the development of electric rice cookers. The growing trend of healthier eating, combined with customers becoming more attentive of their dietary choices, is driving up demand for electric rice cookers with streamers, which coincide with this trend. An electric rice cooker with streamer allows consumers to prepare healthful meals with little effort. Globalization and cultural influences are driving further growth in the electric rice cooker market, as purchasers seek rice cookers customized for specific regional dishes. E-commerce platforms have facilitated consumer choices.

Opportunities:

• Technological Advancement in Electric Rice Cooker

Technological advances are critical to the electric rice cooker market',s growth. Rice cookers are becoming smarter, connecting to your smartphone or home network to allow you to control the cooking remotely, monitor progress, and even receive notifications when the rice is done. Voice control functions are growing more popular, providing unparalleled ease and hands-free operation. Furthermore, electric rice cooker manufacturers are always inventing, adding new features and functionality to improve the cooking experience.

Some of the most recent trends include smart rice cookers with Wi-Fi connectivity, voice control, and multiple cooking modes for different rice product types and meals. Smart technology integration is becoming more common, allowing remote control via smartphone apps while increasing user flexibility and control. For example, electric stainless steel rice cookers are gaining popularity due to their durability, aesthetic appeal, and effective cooking capabilities.

Market Trends:

• Increasing Popularity of Asian Cookeries

Electric rice cookers are designed to cook various types of rice typically used in Asian cuisine while maintaining optimal texture and flavor. As more individuals discover and accept new culinary experiences, the urge to recreate authentic Asian dishes at home grows. The electric rice cooker becomes a crucial tool for achieving consistent and delicious outcomes, encouraging acceptance among those who wish to enjoy Asian-inspired dishes in their own kitchens, so contributing to market expansion.

Segment Overview

• By Product

Based on product, the global electric rice cooker market is divided into standard, multifunctional, induction, others. The standard segment dominated the market in 2023 and is expected to dominating during the electric rice cooker market in forecast period, due to the standard rice cookers are easy to use and need little maintenance, making them a cheap option. The introduction of innovative devices with improved designs and features, such as microwave and dishwasher safety, steaming baskets, and warm settings, is projected to boost demand for regular electric rice cooker varieties.

• By Application

Based on application, the global electric rice cooker market is fragmented into household, commercial. The household segment dominated the global electric rice cooker market in 2023. This is attributed to shifting customer preference for simple and energy-efficient cooking appliances. In addition, Toshiba Corporation, Zojirushi America Corporation, Aroma, Cuckoo, and Hamilton have all introduced electric cookers with new designs and features such as anti-rust, anti-fingerprint, and anti-scratch coatings.

Furthermore, these products are compact in size and take up less room, making them easier to handle and store. The introduction of technologically advanced devices with improved aesthetics is projected to drive up demand for domestic electric rice cookers in the coming years. For example, TFAIR',s HTF-3005 1.3L multipurpose rice cooker functions as a portable cooker that can be used in the kitchen and transported to the workplace in a tiffin box.

• By Distribution Channel

Based on distribution channel, the global electric rice cooker market is segmented into offline, online. The offline segment dominated the electric rice cooker market with the largest revenue share in 2023. This is owing to most consumers still choose to buy these electric devices in real places rather than online. According to reliable statistics, more than half of Americans prefer to buy things in stores. Furthermore, a growing number of retail locations, particularly in emerging economies such as India, China, and Brazil, are predicted to increase the visibility of these electrical products via offline channels.

Electric Rice Cooker Market Overview by Region

Asia Pacific dominated the electric rice cooker market in 2023. This is attributed to Rice, as a staple meal in the majority of nations such as China, India, Indonesia, and Japan, is a key indicator of market growth in this region. Furthermore, the expanding working population in countries such as China and India, combined with their proclivity to buy premium products, is likely to boost market expansion throughout the projection period. However, product sales in Europe are predicted to increase. The existence of well-known cooking appliance brands in Europe, together with increased consumer awareness of the benefits of low-emission cooking equipment, is likely to boost product demand in this area throughout the forecast period.

Electric Rice Cooker Market Competitive Landscape

In the global electric rice cooker market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Electric Rice Cooker Market Leading Companies:

• Panasonic

• Toshiba Corporation

• Zojirushi America Corporation

• Cuisinart

• Bajaj Electricals

• Philips

• Tiger Corporation

• Cuisinart

• Sunbeam Products Inc.

• Aroma Housewares Company and others

Electric Rice Cooker Market Recent Developments

• In June 2023, Tiger Corporation has unveiled the JNP-T055 Jar Rice Cooker in celebration of its 100th anniversary. Specifically designed for cooking white rice, this appliance features a compact design and an easy storage system.

• In April 2023, Cuckoo Electronics Co., Ltd. has introduced the 5-Quart Standard Multi-Pressure Cooker (CMCQAB501S), featuring versatile capabilities for steaming, stewing, pressure cooking, boiling, slow cooking, and sauté,ing. This appliance allows users to prepare a variety of dishes with the option to choose between pressure and non-pressure cooking methods.