Electric Rice Cooker Market Trends, Industry Share, Growth Drivers, Business Opportunities and Demand Forecast to 2029

The electrical rice cooker market size is expected to grow substantially due to the rising demand for convenient cooking appliances. Technological advancements and innovation in electric rice cookers can boost the market growth. Fortune Business Insights™ presents this information in its report, titled, "Electric Rice Cooker Market, 2022-2029."

An electric rice cooker is a machine that can enhance the convenience of cooking and reduce cooking times drastically. The desk-bound jobs of people would lead to the adoption of services and machinery that simplifies their life. An electric cooker can cook rice easily without spending a lot of time. Further, the adoption of advanced features such as programmable settings and smartphone operations can enhance its demand. The adoption of technologically advanced electric rice cookers is increasing rapidly because of their flexibility. It can be used to cook vegetables, oatmeal, and other dishes alongside rice, which, in turn, can enhance its demand significantly. Therefore, these factors can propel the market growth during the forecast period. 

Impact of COVID-19

Rising Demand for Convenient Cooking Machinery to Fuel Market Growth

This market is expected to be impacted positively during the COVID-19 pandemic because of the rising consumer demand for convenient cooking products. The relaxation of lockdown procedures has enabled manufacturers to deploy part-time shifts to control the spread of the virus. The production facilities abide by government regulations and the usage of medical gear and other precautions to ensure a safe working environment. Additionally, the adoption of online retail has enabled manufacturers to improve their sales. Therefore, these factors are estimated to fuel the market growth. 

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Fortune Business Insights™ lists out all the electrical rice cooker market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Panasonic Corp
  • Tiger Corporation
  • Bajaj Electronics
  • Philips AG
  • Zojirushi America Corporation
  • Toshiba Corporation
  • Aroma Housewares Company
  • Sunbeam Products Inc

Highlights of the Report

  • This report highlights the latest trends of the market and the top segments.
  • It comprehensively discusses the impact of COVID-19 and the driving and restraining factors.
  • Examines the strategies implemented by the prominent companies operating in the market and the regional development.

Drivers and Restraints

Inactive Consumer Lifestyles to Fuel the Market Growth

The inactive consumer lifestyle has led to the adoption of machines such as electric rice cookers. It simplifies cooking operation, provides uniformly cooked rice, and comes in different sizes, shapes, and options. For example, Kenstar provides rice cookers up to 1-liter capacity. It can cook lentils, sprouts, and vegetables alongside rice, which, in turn, would enhance the consumer's experience. Further, it is extremely space-saving and can be transportable. It consumes less power and provides excellent efficiency. In addition, manufacturers are providing innovative electric rice cookers that provide anti-finger marks, coat anti-rust proof, and anti-scratch properties. Hence, these factors can drive the electric rice cooker market growth. 

However, the uneven cooking of low-cost electric rice cookers can hamper market growth.

Regional Insights

Increasing Per-Capita Income to Boost Market Growth in Asia Pacific

Asia Pacific is expected to dominate in terms of the electric rice cooker market share because of the increasing per-capita income of the population. The extensive rice consumption in India, South Korea, Japan, and China is expected to increase the demand for rice cookers. As per Indexmundi's statistics, in 2019, the total domestic rice consumption in India reached 102,000 (MT). It is an approximate 2% spike as compared to the previous year. In addition, the rapid urbanization and evolving consumer preferences can enhance the adoption of an electric rice cooker. 

Segments

By product, the market is segregated into induction, multifunction, and standard. Based on application, it is bifurcated into commercial and household. As per the distributional channel, it is divided into offline and online. Geographically, it is clubbed into Europe, North America, South America, Asia Pacific, and the Middle East & Africa. 

In North America, the consumer's dependence upon rice cookers for the preparation of multiple dishes can boost the demand for electric rice cookers. In addition, the emergence of several Asian restaurants can boost the market growth. As per the CHD Expert, there are approximately 64,000 restaurants in North America. 

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The Global Electric Rice Cooker Market Research/Analysis Report Contains Answers to your following Questions:

  • Which Manufacturing Technology is used for Electric Rice Cooker? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Electric Rice Cooker Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was Global Market Status of Electric Rice Cooker Market? What Was Capacity, Production Value, Cost and PROFIT of Electric Rice Cooker Market?
  • What Is Current Market Status of Electric Rice Cooker Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Electric Rice Cooker Market Trends by Taking Applications and Types in Consideration?
  • What Are Projections of Global Electric Rice Cooker Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
  • What Is Electric Rice Cooker Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Electric Rice Cooker Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Electric Rice Cooker Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Electric Rice Cooker Industry?

Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.

  • Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market

Competitive Landscape

Prominent Players to Launch Innovative Products to Increase Sales

Prominent companies operating in the market are launching innovative products to increase their sales. For example, Xiaomi launched Mijia Smart Rice Cooker in April 2019 in India. This rice cooker can prepare biryani, pasta, pizza, and burgers alongside rice. This strategy can attract consumer demand and improve their product's sales. Further, the adoption of expansion strategies can enable companies to establish their manufacturing facilities across the globe. This strategy can also help them to expand their market reach. 

Industry Development

  • July 2019: Anti-Social Social Club of Los Angeles (USA) partnered up with Cuckoo to announce an electric cooker for people who live alone.

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