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 : June, 2020 | Consumer Goods | PPT format

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

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.