Electric Rice Cooker Market

Global Electric Rice Cooker Market Research Report: By Product (Standard, Multifunctional, Induction, Others), By Application (Household, Commercial), By Distribution Channel (Offline, Online), and Region (North America, Europe, Asia-Pacific, and Rest of the World) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032.

Electronics & Semiconductor | January 2024 | Report ID: EMR00525 | Pages: 301

The global electric rice cooker market was valued at USD 4.62 billion in 2023 and is estimated to reach approximately USD 6.41 billion by 2032, at a CAGR of 6.27% from 2024 to 2032.

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: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

USD 4.62 Billion

Projected Market Value (2032)

USD 6.41 Billion

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product, By Application, Distribution Channel & Region

Segments Covered

By Product, By Application, Distribution Channel & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global 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.

 

Global 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.

 

 

Global 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.

Some of the prominent players in the global electric rice cooker market include

  • Panasonic 
  • Toshiba Corporation
  • Zojirushi America Corporation
  • Cuisinart
  • Bajaj Electricals
  • Philips
  • Tiger Corporation
  • Cuisinart
  • Sunbeam Products Inc.
  • Aroma Housewares Company and others

 

Global 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 sautéing. This appliance allows users to prepare a variety of dishes with the option to choose between pressure and non-pressure cooking methods.

 

Scope of the Global Electric Rice Cooker Market Report

Electric Rice Cooker Market Report Segmentation

ATTRIBUTE

DETAILS

By Product

  • Standard
  • Multifunctional
  • Induction
  • Others

By Application

  • Household
  • Commercial

By Distribution Channel

  • Offline
  • Online

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Electric Rice Cooker Market Size and Forecast: To identify and estimate the market size for the global electric rice cooker market segmented by product, by application, distribution channel & region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of electric rice cooker between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global electric rice cooker market
  • Market Influencing Factors: To find out the factors which are affecting the sales of electric rice cooker among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global electric rice cooker market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The global electric rice cooker market forecast period is 2024 - 2032.
According to electric rice cooker market research, the market is expected to grow at a CAGR of 6.27% over the coming years.
Europe is expected to register the highest CAGR during 2024 - 2032
Asia-Pacific held the largest share in 2023.
The major players operating in the global electric rice cooker market include Panasonic; Toshiba Corporation; Zojirushi America Corporation; Cuisinart; Bajaj Electricals; Philips; Tiger Corporation; Cuisinart; Sunbeam Products Inc.; and Aroma Housewares Company and others.