USD 1.43 Billion
Report ID:
SQMIG25H2046 |
Region:
Global |
Published Date: January, 2025
Pages:
186
|Tables:
90
|Figures:
72
Global Electric Rice Cooker Market size was valued at USD 1.43 Billion in 2023 and is poised to grow from USD 1.69 Billion in 2024 to USD 6.29 Billion by 2032, growing at a CAGR of 17.9% in the forecast period (2025-2032).
Growing demand for convenient kitchen appliances and a higher focus on health and dietary awareness are driving the electric rice cooker market growth. Current lifestyles are becoming hectic, leading individuals to seek time saving methods for food preparation. Electric rice cookers provide an easy and efficient method of cooking rice without continuous supervision. With the increase in urbanization, smaller living spaces are becoming extremely popular. These home appliances are compact and can be used in small kitchens or apartments. Consumers have become more conscious of energy consumption, and energy-efficient rice cookers have become popular. These cookers consume less energy while cooking, emit no greenhouse gases while preparing food, and keep the environment better, appealing to environmentally conscious buyers.
The manufacturers of electric rice cookers are increasing their focus on technological innovations and research & development of these appliances. This is helping them to expand their product range, enhance product designs, and cater to the variety of requirements of modern consumers. The technologically advanced electric rice cookers come with multiple functionalities such as a touch button on the panel, auto keep warm, timer, multi-function cooking by menu setting, auto safety function, and auto-off functions. These advancements in versatile functions cater to home and professional cooking requirements. Such innovations facilitate the expansion of a broader customer demographic, leading to the market's future development.
Market snapshot - (2025-2032)
Global Market Size
USD 1.43 Billion
Largest Segment
Household
Fastest Growth
Commerical
Growth Rate
17.9% CAGR
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The global electric rice cooker market is segmented into product, application, distribution channel, and region. Based on product, the market is segmented into standard, multifunctional, induction, and others. Based on application, the market is segmented into household and commercial. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, e-commerce stores, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Based on application, the household products segment is dominating with the largest electric rice cooker market share. Kitchen appliances like electric rice cookers are vital for smooth and efficient household cooking, as they can be used not only to make rice but also for baking and boiling. These appliances are necessary for every household, facilitating convenient and easy cooking. Moreover, the escalating size of the working population and the prevailing nuclear family structure is immensely contributing to increasing demand for kitchen appliances like rice cookers globally. The demand for electric rice cookers is rising quickly among home end users due to changing lifestyles and increasing disposable income. Moreover, the market indicates that the demand for modular kitchens is also increasing among consumers. Customers are choosing advanced, sophisticated, built-in kitchen appliances to increase the aesthetic value of the kitchen. Moreover, the introduction of a technologically advanced electric rice cooker prompts consumers to upgrade their conventional kitchen to a smart one.
The commercial segment is expected to witness significant demand growth during the forecast period. The commercial segment consists of restaurants, hotel chains, hospitals, schools, colleges, and other commercial caterers and food service establishments. A commercial electrical rice cooker is used for commercial cooking purposes. Demand for commercial electric rice cookers is increasing due to growing food service establishments, especially in emerging economies of India and China. Today's hectic lifestyles leave less time for cooking, thereby accelerating the trend of eating out at cafes, restaurants, hotels, and similar other food establishments, supplementing the growth of the cooking appliances industry. Due to safety and health concerns, commercial restaurants and other catering services increasingly use efficient cooking appliances. Companies are launching technologically advanced commercial electrical rice cookers to cater to the increasing demand from food services and other commercial establishments.
Based on distribution, the supermarkets/hypermarkets segment is dominating the electric rice cooker market. Supermarkets/hypermarkets are huge stores selling food, small and large appliances, stationery, clothing, gardening products, electronics, etc. A wide range of products and accessories are available in such stores. Consumers purchasing other goods, such as stationery or clothing, also buy household appliances. A hypermarket is a retail establishment with a wide selection of goods, including merchandise, home appliances, and food items. In addition, hypermarkets have a higher assortment of products compared to supermarkets. Low inventory costs, an advanced supply chain, and a large consumer base within the local market are key elements in this supermarket/hypermarket. Some of the leading players in this segment are Big Bazaar, D-Mart, Spencer's, Star Bazar, and Walmart Stores.
As per the electric rice cooker market analysis, the specialty stores segment is expected to be the fastest growing segment. Specialty stores are retail outlets that sell a product range and associated items. Specialty stores enjoy a dominant presence in all types of household appliance markets. Most proprietors of specialty stores maintain a significant depth of knowledge in the product category they specialize in selling, usually at a premium cost, in addition to providing consumers with higher quality and informed advice. Despite the fast growth of supermarkets and hypermarkets, many customers still purchase canned goods from specialist stores because they feel it saves money and time. Consumers usually prefer to analyze and evaluate the product before purchase, thereby boosting the retail sales of the electric rice cooker market through specialty stores. Cooking appliances are available in huge varieties, which are among the major attractions of consumers at specialty stores. People get all their choices at these destinations, saving them time moving from one store to another.
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Asia Pacific is dominating with the largest electric rice cooker market share. The Asia-Pacific region is currently experiencing rapid economic growth, characterized by a rising urban population and more industrialization, leading to the rising demand for electric rice cookers. The advent of industrialization has led to a notable rise in disposable income, thus increasing the purchasing power of consumers. The rising prevalence of cooking appliance products, such as electric rice cookers, has compelled companies to provide technologically superior offerings at competitive costs to gain a stronger foothold in the market. Moreover, the increasing urban population and enhanced living conditions give rise to a substantial need for novel cooking devices within the Asia-Pacific area. Due to changing lifestyles and rising consumer buying power, the market dynamics have changed significantly in recent years.
The region of North America is anticipated to witness the fastest growth during the electric rice cooker market forecast period. The rising influence of Asian communities in the region of North America is fueling the demand for rice and increasing the requirement for appliances that efficiently cook rice. With the help of technological advancement nowadays rice cookers are embedded with additional functions beyond cooking rice. Electric rice cookers can steam vegetables, slow cook, and bake items, making them a good purchase for health-conscious customers. Moreover, the shift in focus toward the key market in innovation and development of new products in the market has led to the introduction of connected cooking appliances. Furthermore, the key players in the region are offering multi-functionality features related to electric rice cookers to suit commercial and household applications.
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Growing Preference of Healthy Home-Cooked Meals
Better Convenience and Saves Time
High Availability of Counterfeit Products
Rising Popularity of Alternative Solutions
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The electric rice cooker industry is characterized by a competitive landscape with several key players striving to gain a foothold through product innovation, strategic partnerships, and market expansion. The market is dominated by a mix of established global brands and regional manufacturers, each offering a diverse range of products to cater to varying consumer needs. The intense competition in the market is driving companies to focus on enhancing their product offerings through advanced features, improved energy efficiency, and user-friendly designs. This competitive environment encourages continuous innovation, benefiting consumers with a wider selection of high-quality and technologically advanced products.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the changing consumer lifestyle due to the fast-paced work culture and long traveling time is influencing people to use electric rice cookers. Nowadays, people are more inclined towards convenience products that help in simplifying the working procedure. Furthermore, owing to the requirement of comparatively less time and less attention, these electric rice cookers became one of the most preferred appliances among consumers. There is a significant increase in the dependency of consumers on smart electrical appliances that are easy to handle, leading to the growth of the market Such a landscape is likely to further increase the market value and opportunity in the forthcoming years. Moreover, the increasing prices of cooking gas have significantly shifted consumers from gas-based kitchen appliances to electric ones, contributing to the expansion of electric rice cooker industry.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.43 Billion |
Market size value in 2032 | USD 6.29 Billion |
Growth Rate | 17.9% |
Base year | 2024 |
Forecast period | (2025-2032) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Electric Rice Cooker Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Rice Cooker Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Rice Cooker Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Electric Rice Cooker Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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