Rise in demand for innovative types of kitchen appliances is among the major factors that boosts electric rice cooker demand. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the electric rice cooker industry.The major countries in each region are mapped according to their revenue contribution to the market.
In-depth analysis and the market size and segmentation assists in determining the prevailing electric rice cooker market opportunities.Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.The report provides a quantitative analysis of the current electric rice cooker market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.The key players profiled in the report include AB Electrolux, Panasonic Corporation, Groupe SEB, Breville Group, TTK Prestige Ltd, Bajaj Electricals Limited, Koninklijke Philips N.V., Ali Group Srl, Wonderchef Home Appliances Pvt. The players in the electric rice cooker market have adopted expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. This is projected to contribute to the leading position of the region in the global electric rice cooker market. Many countries in Asia-Pacific such as Japan, India, Indonesia, Vietnam, Thailand, among others have rice as their staple food. China is the largest consumer of rice globally as rice is the staple food in the country. Asia-Pacific is also expected to witness the highest CAGR, owing to the rising disposable income and busy lifestyle of the consumers as a result of higher employment and increasing working women population in the region. On the basis of region, Asia-Pacific was the prominent market in 2018 and accounted for the maximum share in the global electric rice cooker market.
Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa). By distribution channel, it is divided into supermarket/hypermarket, specialty stores, e commerce, and others. By end user, it is categorized into household and commercial. Due to these benefits, the consumers are shifting from gas based rice cookers to electric rice cookers, which is anticipated to drive the electric rice cookers market in the near future.Īccording to electric rice cooker market analysis, the electric rice cooker market is segmented on the basis of end user, distribution channel, and region. Furthermore, it also makes the rice non-sticky. Electric rice cookers also allow consumers to cook other grains and lentils. The electric rice cooker provided uniform cooking, as with the gas stove there may be an overcooked rice layer at the bottom due to the heat distribution not being uniform. Furthermore, growing prices of cooking gas in the past have shifted the focus of the consumers from gas-based kitchen appliances to electrical kitchen appliances. This in turn has led to the growth of the electric rice cooker market. Growing number of working women in the workforce has increased the dependency of the consumers on the electric appliances that are easy to handle and require less time of cooking. Due to less time and monitoring required for cooking rice, electric rice cookers have become one of the most preferred choice of appliance among the consumers. Owing to the busy lifestyle, consumers inclination toward the use of convenience products has been growing in the recent past. Consumers have been using the rice cooker for preparing various rice specialties. The rice cookers are available in either automatic and non-automatic variants in the market. The electric rice cooker boils rice through heating using the electric element. Furthermore, it has a water level indicator to be maintained for the respective quantity of rice. It has an inner removable bowl that is usually coated with non-stick surface and an insulated outer container. A rice cooker is an electrical appliance used for cooking the rice. In 2018, the household segment accounted for more than one third of the total electric rice cooker market share. The electric rice cooker market size was valued at $3.2 billion in 2018, and is estimated to reach $5.5 billion by 2026, registering a CAGR of 6.8% from 2019 to 2026.
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