Electric Rice Cooker Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product Type, Distribution Channel and Application

The Electric Rice Cooker Market size was valued at USD 4.46 Billion in 2023 and the total Electric Rice Cooker Market revenue is expected to grow at a CAGR of 6.38% from 2024 to 2030, reaching nearly USD 6.88 Billion.
Electric Rice Cooker Market Overview:
An electric rice cooker is an electrical kitchen appliance use for cooking of rice. It utilizes an insulated outer container and an inner removable bowl, often coated with a non-stick surface, and has an indicator for water level. An electric rice cooker is a product that consumes electricity in four different modes that include cooking mode, warm mode, timer mode, and standby mode. Busy lifestyles and hectic schedules are driving the demand for electric rice cooker that simplify tasks like cooking rice. Electric rice cookers take the guesswork out and offering perfect grains every time with minimal effort. As more people shift towards urban living, smaller living spaces and fast-paced routines further enhance the appeal of convenient and compact appliances like electric rice cooker. The growing awareness of healthy eating habits leads to increased consumption of brown rice and other healthier grains. Multifunctional electric rice cooker that caters to diverse dietary needs are gaining traction. An increase in gas prices have made energy-efficient appliances like rice cookers a much more attractive option. Electric rice cooker helps to cook rice perfectly with minimal effort, saving both time and money.To know about the Research Methodology :- Request Free Sample Report

Key players operating in the electric rice cooker market have responded to the booming electric rice cooker market by offering a wide range of rice cookers to suit every budget and lifestyle and offering products from basic entry-level models for everyday cooking to sophisticated multi-functional wonders and even app-controlled smart cookers. With continuous advancements in technology and features, electric rice cooker is expected to further revolutionize kitchens around the world, which one perfectly cooked grain at a time. An electric rice cooker is becoming commonplace in homes because of its efficiency and convenience. The simplicity of use, dependability, and time-saving capabilities electric rice cookers are valued by consumers. Manufacturers have released a wide variety of models Like entry-level models for making basic rice dishes, sophisticated multi-functional cookers, and cutting-edge smart rice cookers to meet the demands and interests of different consumer groups.
Electric Rice Cooker Market Dynamics:
The demand for practical and dependable cooking solutions is increasing as technology develops and consumer lifestyles get busier, which bodes well for the future growth of the electric rice cooker market. Sustainability and energy efficiency are becoming significant market factors for the production of the electric rice cooker. The growing trend of healthier eating along with consumers becoming more conscious about their dietary choices is increasing the demand for electric rice cookers with streamers as they align with this trend. An electric rice cooker with streamer enables users to cook nutritious dishes with minimal effort. The electric rice cooker market is further expanded by globalization and cultural influences as buyers look for rice cookers designed for certain regional dishes. E-commerce platforms have facilitated consumer choice exploration, promoting rivalry and innovation.

The electric rice cooker market is expected to rise as a result of a number of intriguing chances. There is a sizable window of opportunity for product innovation and differentiation. The manufacturers might experiment with new technologies, materials, and designs to make rice cookers, which are more convenient, effective, and versatile.

Growth in Disposable Incomes and rapid Urbanization are expected to boost the adoption of electric rice cooker.

As disposable incomes rise globally, consumers are willing to spend more on household appliances that improve their quality of life. With growing economies and rising wages, people have more money to spend on non-essential items, including household appliances. An increase in the purchasing power allows consumers to invest in convenient and time-saving gadgets like electric rice cookers. As people migrate from rural areas to cities, they often face space constraints and busier lifestyles. Traditional cooking methods, which may require more time and attention, become less feasible in these fast-paced environments. Electric rice cookers offer a perfect solution, allowing urban dwellers to cook rice conveniently and efficiently, even in small kitchens with limited time that drive the demand for electric rice cooker across developed and developing economies.

The portability and ease of use of electric rice cookers make them ideal for small apartments and shared living spaces common in urban settings. Growth in Disposable Incomes and rapid Urbanization are creating a perfect storm for the adoption of electric rice cookers. are creating a perfect storm for the adoption of electric rice cookers. The increasing popularity of online food delivery and meal kits, often featuring rice-based dishes, also contributes to the demand for rice cookers. Manufacturers are constantly innovating and introducing new rice cooker models with additional features and functionalities, catering to the diverse needs of urban consumers.

Technological Advancement is one of the key driving factors in the electric rice cooker market.

Technological advancements are playing a crucial role in driving the electric rice cooker market forward. Rice cookers are now getting smarter, connecting to your smartphone or home network that allows consumer to control cooking remotely, monitor progress, and even receive notifications when the rice is ready. Voice control features are becoming increasingly common, offering ultimate convenience and hands-free operation.

Electric rice cooker manufacturers are constantly innovating, introducing new features and functionalities that enhance the cooking experience. Some of the latest trends include smart rice cookers with Wi-Fi connectivity, voice control, and multiple cooking modes for various rice Product Types and dishes. Smart technology integration is becoming more prevalent, enabling remote control through smartphone apps and improving user flexibility and control. For example - Electric stainless steel rice cookers are increasingly becoming popular due to their durability, aesthetic appeal, and efficient cooking capabilities. These cookers include steamer trays that allow users to steam vegetables or other dishes simultaneously. Advanced rice cookers offer pre-programmed settings for various rice Product Types and dishes, along with the ability to create and save personal profiles that caters to Household preferences and dietary needs, ensuring perfect results every time. Many models offer additional functionalities like steaming vegetables, porridge making, slow cooking, and even baking. The versatility features of the electric rice cookers make them a valuable and space-saving addition to any kitchen that drive their adoption too.
Electric Rice Cooker Market Segment Analysis:
Based on product Product Type, electric rice cooker market is segmented into standard, multifunctional and induction. The standard electric rice cookers held the largest market share, followed by multifunctional and induction cookers and projected to continue its dominance during the forecast period. The standard rice cookers are the most affordable and easiest to use. Microwave and dishwasher safe properties make them incredibly convenient for modern households, while features like steaming baskets and warm settings add versatility and functionality. The advancements in the electric rice cooker have made cater to the evolving needs of consumers, who are increasingly seeking appliances that simplify their lives and offer additional cooking options. manufacturers are effectively addressing pain points and expanding the appeal of standard rice cookers to a wider audience. The continued focus on innovation and user-centric design is likely to ensure that standard rice cookers maintain their market dominance in the foreseeable future.

By Application, electric rice cooker market is segmented into household and commercial. The household segment holds the lion's share of the market, accounting for approximately 85% in the global electric rice cooker market. Rice is a staple food for billions of people worldwide, and household kitchens are where the majority of rice is cooked. electric rice cooker manufacturers are providing the electric rice cooker, which helps to cater to diverse household needs with rice cookers offering various features, capacities, and price points. the household electric rice cooker market thrives on its ability to adapt to diverse needs and preferences. By offering a variety of functions, capacities, and technological advancements, manufacturers cater to the vast and ever-growing demand for convenient and efficient rice cooking solutions in homes around the world.

The business and restaurant industry are another important application area of the electric rice cooker. The heavy-duty construction of electric rice cooker allows them to endure the demands of high-volume cooking in commercial kitchens. They are crucial for restaurants, catering services, and other food facilities where rice is a main ingredient in many meals since they have a bigger capacity that allows for the effective preparation of huge amounts of rice. Manufactures are focusing on the deployment of the effective solution of the electric rice cookers, which is specifically used for commercial applications and usages in the hotel and restaurant industry to suit the demands of busy commercial kitchens. electric rice cooker market in the commercial application sector is expected to grow at a CAGR of more than 7.33% during the forecast period. As consumers prioritize fast-paced lifestyles and eco-conscious choices, energy-efficient and convenient appliances like electric rice cookers become increasingly attractive.By Distribution Channel, as of 2023, the global electric rice cooker market share by distribution channel is primarily dominated by offline channels, holding over 60% of the market. Online channels are still evolving, but they are gaining traction and currently hold around 40% of the electric rice cooker market. The offline distribution channels are still essential for customers who want a tactile shopping experience. Brick-and-mortar retail stores, hypermarkets, supermarkets, discount retailers, specialized kitchen retailers, and manufacturer outlets are included in the offline sector. With the use of offline channel, customers may engage in tactile shopping, viewing, touching, and evaluating electric rice cooker product before making a choice. They can physically inspect and buy electric rice cookers from brick-and-mortar Commercial, such as department stores and home appliance merchants. It is ideal distribution channel for customers who value in-person interactions and the capability of side-by-side product comparisons.

Despite the offline channels currently dominate the electric rice cooker market, the online segment is rapidly growing and presenting exciting opportunities for manufacturers and retailers. Online market share is expected to grow steadily in the coming years, fueled by increasing internet penetration, smartphone adoption, and growing preference for online shopping. Manufacturers are adopting omnichannel strategies to cater to both online and offline shoppers, offering online purchasing with in-store pickup or return options.
Electric Rice Cooker Market Regional Insights:
The Asia-Pacific region commands a dominant share of the electric rice cooker industry.

The Asia-Pacific region held the dominant position in the electric rice cooker industry, accounting for a more than 55% of the global market share. Rice is a dietary cornerstone in many Asian cultures, consumed at almost every meal, which has increased love for rice translates to a high demand for convenient and efficient cooking methods, making rice cookers an essential kitchen appliance. Countries like China, India, and Indonesia boast massive populations, many of whom are experiencing rising disposable income that creates a vast and ever-growing market for household appliances like rice cookers. As urbanization accelerates across the region, people increasingly seek time-saving solutions for daily tasks like cooking. Electric rice cookers, with their effortless operation and perfect results, fit the bill perfectly.

The Asia-Pacific region is home to several major electric rice cooker manufacturers, like Tiger Corporation (Japan), Zojirushi (Japan), and Sunrice (Thailand). The prominent brands cater to local preferences and offer competitive pricing, further strengthening the regional market. Some Asian governments, recognizing the benefits of energy-efficient appliances, have implemented programs and subsidies to promote the adoption of rice cookers. With continued economic development, rising urbanization, and increasing focus on convenience, the demand for electric rice cooker is expected to remain strong during the forecast period.
Electric Rice Cooker Market Overview in India:
The skyrocketing cost of cooking gas has driven many Indian households to seek alternative methods for preparing rice, a daily staple for most. Electric rice cooker is offering much cheaper way to cook perfectly fluffy rice. With rice being a central part of the diet in many regions of India, particularly in the South and Eastern states, electric rice cooker has found immediate adoption among these communities. The convenience and efficiency they offer make them particularly appealing in households where rice is cooked multiple times a day. The Indian market has seen a healthy influx of both established brands like Panasonic and Tiger, as well as local manufacturers offering affordable and functional rice cooker options. The presence of the variety of the electric rice cooker options caters to diverse budget ranges and preferences, further fueling the electric rice cooker market growth In India.

The Indian government's push for energy efficiency programs has also indirectly aided the electric rice cooker market. Subsidies for energy-efficient appliances and awareness campaigns highlighting their benefits have further influenced consumer choices. As lifestyles in India become fast-paced, particularly in urban areas, the convenience and time-saving aspects of electric rice cookers resonate with people who prioritize speed and efficiency in their daily routines. With strong growth predicted and a rapidly evolving landscape, it's clear that electric rice cooker has become more than just a cooking tool and transforming the symbol of changing kitchen habits and consumer preferences in modern India.
Electric Rice Cooker Market Competitive Landscape:
Manufacturers are upping their game with rice cookers boasting features like anti-rust, anti-fingerprint, and anti-scratch coatings for easy cleaning and maintenance. They are also focusing on the introduction of the innovative products like compact size electric rice cooker cater to space-constrained kitchens, while improved aesthetics make them visually appealing additions to any countertop. Smart rice cookers with app control, voice activation, and customizable settings are gaining traction. Multifunctionality adds versatility, allowing users to cook beyond just rice and cater to diverse dietary needs. Key players operating in the electric rice market are expected to focus on promotion of technological development in order to improve the energy efficiency of electric rice cookers and strive to produce products with higher energy efficiency. Manufacturers will plan the swift implementation of energy efficiency labels and will strive to provide appropriate information so that users will purchase them by aiming at penetration of energy-efficient electric rice cookers.

An electric rice cooker manufacturers are expected to reach emerging markets with specialized products as more regions make rice a staple diet or as consumption of dishes made with rice rises. The localizing and customizing rice cooker features to suit certain regional preferences might give manufacturers in these regions an advantage. Sustainability and eco-friendliness are still major issues. Manufacturers should look into the potential to create rice cookers that use eco-friendly materials and manufacturing techniques while still being energy-efficient. This is in line with the rising demand for goods that are environmentally friendly.
Electric Rice Cooker Market Scope: Inquiry Before Buying



Electric Rice Cooker Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 4.46 Bn.


Forecast Period 2024 to 2030 CAGR:
6.38%
Market Size in 2030:
US $ 6.88 Bn.


 Segments Covered:
by Product Type
Standard
Multifunctional
Induction


by Distribution Channel
Offline
Online


by Application
Household
Commercial



Electric Rice Cooker Market, by region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Electric Rice Cooker Market Key players:
North America
1. Aroma Housewares Company (USA)
2. Hamilton Beach Brands, Inc. (USA)
3. Cuisinart (Conair Corporation) (USA)
4. Black & Decker (Stanley Black & Decker, Inc.) (USA)
5. Sunpentown International Inc(Canada)

Asia Pacific
6. Panasonic Corporation (Japan)
7. Zojirushi Corporation (Japan)
8. Tiger Corporation (Japan)
9. Cuckoo Electronics Co., Ltd. (South Korea)
10. Toshiba Corporation (Japan)

Europe
11. Groupe SEB (T-fal, Krups, and Moulinex brands) (France)
12. Philips (Koninklijke Philips N.V.) (Netherlands)
13. Electrolux AB (Sweden)
14. Kenwood(UK)
15. Morphy Richards (UK)

Middle East & Africa
16. Senya (United Arab Emirates)
17. Kenwood (South Africa)
18. Binatone (Nigeria)
19. Black & Decker
20. Tefal (Groupe SEB)
FAQs:
1] What segments are covered in the Global Electric Rice Cooker Market report?
Ans. The segments covered in the Electric Rice Cooker report are based on Product Type, Distribution Channel, Application and Region.

2] Which region is expected to hold the highest share in the Global Electric Rice Cooker Market during the forecast period?
Ans. Asia Pacific region is expected to hold the highest share of the Electric Rice Cooker Market during the forecast period.

3] What is the market size of the Global Electric Rice Cooker by 2030?
Ans. The market size of the Electric Rice Cooker by 2030 is expected to reach US$ 6.88 Bn.

4] What is the forecast period for the Global Electric Rice Cooker Market?
Ans. The forecast period for the Electric Rice Cooker Market is 2024-2030.

5] What was the market size of the Global Electric Rice Cooker in 2023?
Ans. The market size of the Electric Rice Cooker in 2023 was valued at US$ 4.46 Bn.