Electric Rice Cooker Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Electric Rice Cooker Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : February, 2021 | Consumer Goods

Report Digest


Global Electric Rice Cooker Market: Overview

Cooking rice needs two things that would convert hard, little grains to comparatively big, fluffy morsels. These two things are a lot of water and heat. Hence, cooking of rice comprises four different stages, which are sitting in water, boiling, steaming, and resting. Modern day rice cookers automatically take rice through these four stages. An electric rice cooker mainly comprises of some buttons, a thermal-sensing device, an electric heating plate, an inner cooking pan, and a main body.

The global electric rice cooker market is expected to be driven by the augmented product innovation together with diversification and widening of product portfolio that leads to premiumization. Integration of multiple functionalities, innovative features, and modern technologies into the product is likely to fuel growth of the global electric rice cooker market in years to come. Portfolio extension of electric rice cookers has further increased its sales revenue and bolstered its demand.

The global electric rice cooker market has been segmented based on product, application, distribution channel, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.

Global Electric Rice Cooker Market: Notable Developments

The global electric rice cooker market has come across quite a few developments in the last few years. One such development of the market is mentioned below:

  • In 2019, Instant Pot launched Instant Pot Duo Evo Plus - 10-in-1 multi-use programmable pressure cooker. This feature-rich, new model comes with several new features. Integration of various modes of cooking such as built-in sous vide immersion cooking, slow cooking, steaming, food warming, sautéing, and many others. Availability of numerous features is likely to assist the company capture greater share of the market.

Some of the key market players of the global electric rice cooker market are

  • Zojirushi America Corporation
  • Aroma Housewares Company
  • Instant Pot
  • Koninklijke Philips N.V.
  • Panasonic Corporation
  • Toshiba Corporation

Global Electric Rice Cooker Market: Growth Drivers

Increased Incidences of Physical Inactivity to Fuel Growth of the Market

The global electric rice cooker market is expected to be driven by the multi-functionality of the product. Vendors in the global electric rice cooker market are making relentless efforts to come up with models that would incorporate rubber seals and locking arrangement that would prevent spillage of food during transportation. Integration of high-end features such as voice navigation and LCD display for hassle-free control betters the functionality and performance of electric rice cookers. This is further likely to propel the expansion of the global electric rice cooker market in the years to come.

Increasing participation of women in the work force together with rising affordability and availability of less time for household chores are likely to act as stimulants for the growth of the global electric rice cooker market.

An increased emphasis on the research and development activities to develop innovative, feature-rich product designs is made to diversify product offering so as to cater to the evolving needs of modern day consumers. Manufacturers are also making efforts to come up with electric rice cookers integrated with multifunction capabilities that caters to the need of commercial as well as residential cooking applications. Trends such as this are likely to lead to widening of consumer base, thereby leading to the expansion of the global electric rice cooker market in years to come.

Global Electric Rice Cooker Market: Regional Outlook

Asia Pacific is estimated to be one of the leading regions in the global electric rice cooker market exhibiting rapid pace of growth. Rice is a staple food in the region, particularly in countries like India, Japan, China, and Indonesia. Prominence of rice in the cuisine of the region is an important factor fuelling the development of the electric rice cooker market in Asia Pacific over the years of projection. In addition, a rise in the disposable income of the people in the region together with propensity to spend on premium home appliances is estimated to bolster demand for electric rice cookers in Asia Pacific.

The global electric rice cooker market is segmented as:

Product

  • Standard
  • Multifunctional
  • Induction

Application

  • Household
  • Commercial

Distribution Channel

  • Online
  • Offline

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?