Global Electric Rice Cooker Market, Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Forecast to 2029
“Global Electric Rice Cooker Market” is an upcoming market research report title by MarketResearch.biz, which is currently under study and analysis. Different restraints, trends, growth opportunities, revenue details, drivers, and threats are explained in detail in the report. In addition, the report also offers detailed and insightful profiles of the key players in the global electric rice cooker market. The global electric rice cooker market research report has been segmented on the basis of product, application, distribution channel, and region.
An electric rice cooker can be defined as a cooker that functions using electricity. Electric rice cooker is designed to boil or steam rice. These cookers have various features such as multifunctionality, power efficiency, and portability. Manufacturers are also introducing electric rice cookers with locking mechanisms and rubber seals.
Major factor expected to drive growth of the global electric rice cooker market is increasing inclination of consumers towards adopting energy-efficient cooking appliances. New launches of various innovative products are projected to increase product visibility among consumers over the forecast period. Increasing number of nuclear families and improvement in living standards in developing countries such as India and China are expected to remain as factors driving growth of the market. In addition, rising importance of different energy-saving appliances including electric rice cookers and induction cooktop for reducing household expenses is projected to be another factor driving growth of the market over the forecast period. Shifting consumer preferences, product expansion strategies by key players are expected to positively affect growth of the market. Recent focus of manufacturers on producing technologically advanced and multifunctional electric rice cooker is likely to bring more growth opportunities for key players in the global market.
Global Electric Rice Cooker Market Segment Analysis:
By Product: Among the product segments, the standard segment is projected to continue its dominance in the global electric rice cooker market over the forecast period. This growth is attributed to its features of easy handling, affordable rate, and low maintenance cost. In addition, new launch of innovative products with different features and designs are expected to increase demand for standard electric rice cooker. Features of innovative products include dishwasher safe properties, warm setting, and steaming basket.
By Application: Among the Application segments, the household segment accounts for the highest revenue share in the global electric rice cooker market. This is attributed to the wide use of electric rice cooker in the household globally. Moreover, changing consumer inclination towards adopting energy-efficient and convenient cooking appliances is attributed to this growth of the segment in the global market. Also, increasing number of nuclear families globally is another factor responsible for the wide use of electric rice cooker in households.
By Distribution Channel: Among the various distribution channel segments, the offline segment is projected to dominate the global electric rice cooker market in terms of revenue share over the forecast period. This growth of the segment is attributed to easy availability of wide range of products of various brands in offline retail shops. Also, consumers can have a touch-and-feel experience before they make an actual purchase decision in these retail shops.
Global Electric Rice Cooker Market Regional Analysis:
Among the regional markets, the market in Asia Pacific is projected to account for highest revenue share over the forecast period. This can be attributed to its increasing demand in households, and for commercial purposes. Also, consumers in this region have an increasing inclination towards adopting efficient and convenient home appliances. Owing to increased efficiency of electric rice cooker compared to traditional cookers, the product has high demand in the region. Also, energy-saving feature of the product is attributed to this growth of the regional market. The fastest-growing regional market is Europe.
Global Electric Rice Cooker Market Segmentation:
By Distribution Channel:
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Toshiba Corporation
- Zojirushi America Corporation
- Bajaj Electricals
- Tiger Corporation
- Sunbeam Products Inc.
- Aroma Housewares Company
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