Global Electric Rice Cooker Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Standard Rice Cooker, Multifunction Rice Cooker, Induction Heat Rice Cooker, Others), By Capacity (Small, Medium, Large, Extra-Large), By End-User (Household, Commercial), By Distribution Channel (Online, Offline), And By Geography- Forecasts From 2022 To 2027

Published:  Jul 2022 Report Code: KSI061613582 Pages: 129

The global electric rice cooker market is estimated to grow at a CAGR of 6.40% to reach a market size of US$6,888.230 million in 2027 from US$4,462.017 million in 2020.

The increasing shift of consumers to the adoption of energy-efficient cooking appliances is driving the market demand in the forecast period. The growing consumer electronics industry is further propagating the market demand in the forecast period. New product launches offering different types of electric cookers by companies at the international level are propelling the market growth in the forecast period. The evolving living conditions of individuals globally are promoting the sales of smart kitchen appliances, which include smart electric rice cookers, further burgeoning the market demand in the forecast period. The growing adoption of energy-saving appliances is contributing to trimming household spending, further augmenting the market demand in the forecast period. The growing innovations in the electric rice cooker industry have led to the emergence of connected cooking appliances, such as the Xiaomi WiFi-connected cooker, providing an opportunity for the market to grow in the forecast period. Also, the emergence of IoT technologies for cooking appliances is further providing an impetus to fuel the market growth where a smart kitchen appliance can be controlled through remote control, just like any other smart home gadget.

Geographically, the APAC region is projected to hold a significant market share with high consumption of rice in countries like China, India, and Japan. Additionally, with the adoption of modern living conditions, people, especially in developing economies, is shifting from a traditional way of cooking rice to adopting smart kitchen appliances for rice cooking.

On the other hand, the North American and European regions are experiencing favourable growth prospects due to their early technology adopters, additionally, a robust foothold of smart kitchen appliances in these regions is propelling the market growth in the forecast period.

Furthermore, in countries like India, from the APAC region, the development of community kitchens for providing food to daily wage labourers and other poor people is fueling the market demand for electric cookers for large-scale rice cooking, providing an opportunity for the market to remain steady even in the time of current COVID-19 crisis.

Changing buyers’ preference for purchasing kitchen appliances is contributing to propelling the market growth in the forecast period.

The evolving buyer preferences with the evolving living conditions are paving way for the manufacturing companies to strengthen their R&D activities and experiment with different designs of rice cookers. For example, with the changing family sizes along with the busy lifestyle, consumers look for cookers with multifunction characteristics, further promoting product innovations with an enhanced product portfolio to reach a wide range of customers worldwide. This product expansion strategy is being followed by many manufacturers in the global rice cooker market to expand their product outreach and gather a large consumer base. Also, companies are focusing on manufacturing rice cookers of different capacities ranging from small to medium to large and extra-large capacities for fitting-into various household and commercial applications.

The presence of companies offering innovative automatic rice cookers saving a huge amount of electricity is fueling the market growth in the forecast period.

Panasonic offers a range of automatic cookers with power-saving features. These include the SR-3NA baby cooker, SR-G06S baby cooker with a steamer, SR-3NA (T) travel cooker, SR-G06 bachelor cooker, SR-WA22FHS (UC) ultimate cooker, SR-W18 GH (CMB), SR-WA 10, SR-WA 10 (GE9), SR-WA 18 (GE9), SR-WA 22 (GE9), SR-WA 10H (E), SR-WA 18H (E), and many more. For countries where rice is not the staple food, multifunctional cookers are manufactured, also, with time, as consumers' cooking needs grew, electric cookers improved with constant innovations, and cookers have multifunctional attributes, providing convenience to the customers to keep pace with the busy lifestyle and without compromising on the cooking quality.  They were manufactured on a large scale. Additional features such as steaming vegetables assist in reducing the extra burden of cooking other dishes, as one appliance is enough for managing more than one variety of food.

Philips is also offering a range of rice cookers where the new rice cookers are fitted with smart and automatic cooking programs for preserving the freshness and nutrients of cooked rice. One of the appliances, HD4738/40 1.8L, features a dedicated program for congee cooking, top, and bottom heating that helps in cooking rice more evenly, a steam tray for healthy cooking, and an automatic keep-warm setting is for keeping rice fresh for up to 12 hours. The rice cooker is easy to operate with an advanced lid design for easy and safe access  For ultimate convenience, there is a swing handle for easy carrying, an easy-to-clean non-stick inner pot, an easy-to-read water level indicator, and a detachable power cord for convenient storage.

Based on the distribution channel, the market is broken down into online and offline sales channels. The offline mode of distribution channel is accounted to hold dominance, while the online sales channel is accounted to hold a high CAGR with the adoption of sales via the internet due to its convenience and safe mode of payment options.

The emergence of the online mode of shopping will not replace in-store purchasing behaviour. This is because consumers still prefer to purchase products via several sales channels, and these include supermarkets, hypermarkets, shopping malls, and other various offline options. Individuals worldwide do prefer buying electronic kitchen appliances through an offline store in comparison to an online purchase, hence, fueling the market share of the offline distribution channel in the forecast period. In the present COVID-19 scenario, digital shopping is preferred in case of emergency purchases on account of the shutdown of production units due to lockdown and home quarantine practices for preventing the spread of infections.

The availability of free home delivery services by the major rice cooker brands is one of the reasons for opting for online sales channels. Additionally, the growing popularity of e-commerce retailers like Amazon, Flipkart, and eBay, coupled with the increasing usage of smartphones, will continue to raise the sales of electric rice cookers through the internet over the next five years.

Recent Developments and expansions

  • Xiaomi announced the launch of the Mijia Smart Rice Cooker in India in April 2019. In addition to healthy rice, the said smart rice cooker will indeed be able to cook pizza, burgers, pasta, and biryani.
  • Mahindra Logistics Limited (MLL) and Bajaj Electricals Limited (BEL) announced in March 2021 that they had signed a contract for a cutting-edge outsourcing and logistics arrangement. With the dual goals of delivering enhanced and industry-best levels of service, coupled with a logistics cost saving of over 25%, this transaction is a comprehensive end-to-end redesign & outsourcing of Bajaj Electricals' whole logistics by Mahindra Logistics.

COVID-19 Impact on the Electric Rice Cooker Market

With the onset of COVID-19 pandemic, the manufacturing units were shut down due to lockdown measures and work-from-home initiatives. Hence, in 2020, a decline in the production of home appliances is predicted, leading to the slow growth of the global electric rice cooker market in 2020. However, the market is expected to recover in the anticipated period.

Global Electric Rice Cooker Market Scope:

Report Metric Details
 Market size value in 2020  US$4,462.017 million
 Market size value in 2027  US$6,888.230 million
 Growth Rate  CAGR of 6.40% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments covered  Type, Capacity, End-User, Distribution Channel, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Panasonic Corporation, Toshiba Lifestyle Products & Services Corporation, Zojirushi Corporation, Bajaj Electricals Ltd, Koninklijke Philips N.V., Tiger Corporation, Sunbeam Products Inc., Aroma Housewares Company, Zhejiang Supor Co., Ltd., Magento, Inc.
 Customization scope  Free report customization with purchase

 

Segmentation:

  • By Type
    • Standard Rice Cooker
    • Multifunction Rice Cooker
    • Induction Heat Rice Cooker
    • Others
  • By Capacity
    • Small
    • Medium
    • Large
    • Extra-Large
  • By End-User
    • Household
    • Commercial
  • By Distribution Channel
    • Online
    • Offline
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • UAE
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Australia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the electric rice cooker market size by 2027?
A1. The global electric rice cooker market is projected to reach a market size of US$6,888.230 million by 2027. 


Q2. What is the size of the global electric rice cooker market?
A2. Electric Rice Cooker Market was valued at US$4,462.017 million in 2020. 


Q3. What are the growth prospects for the electric rice cooker market?
A3. The electric rice cooker market is projected to grow at a CAGR of 6.40% over the forecast period. 


Q4. Which region holds the maximum market share of the electric rice cooker market?
A4. Geographically, the APAC region is projected to hold a significant share of the electric rice cooker market with high consumption of rice in countries like China, India, and Japan. 


Q5. What factors are anticipated to drive the electric rice cooker market growth?
A5. The increasing shift of consumers to the adoption of energy-efficient cooking appliances is driving the market demand in the forecast period.

1. Introduction
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Global Electric Rice Cooker Market Analysis, by Type
5.1. Introduction
5.2. Standard Rice Cooker
5.3. Multifunction Rice Cooker
5.4. Induction Heat Rice Cooker
5.5. Others

6. Global Electric Rice Cooker Market Analysis, by Capacity
6.1. Introduction
6.2. Small
6.3. Medium
6.4. Large
6.5. Extra-Large

7. Global Electric Rice Cooker Market Analysis, by End-User
7.1. Introduction
7.2. Household
7.3. Commercial

8. Global Electric Rice Cooker Market Analysis, by Distribution Channel
8.1. Introduction
8.2. Online
8.3. Offline

9. Global Electric Rice Cooker Market Analysis, by Geography
9.1. Introduction
9.2. North America
9.2.1. North America Electric Rice Cooker Market, By Type, 2020 to 2027
9.2.2. North America Electric Rice Cooker Market, By Capacity, 2020 to 2027
9.2.3. North America Electric Rice Cooker Market, By End-User, 2020 to 2027
9.2.4. North America Electric Rice Cooker Market, By Distribution Channel, 2020 to 2027
9.2.5. By Country
9.2.5.1. United States
9.2.5.2. Canada
9.2.5.3. Mexico
9.3. South America
9.3.1. South America Electric Rice Cooker Market, By Type, 2020 to 2027
9.3.2. South America Electric Rice Cooker Market, By Capacity, 2020 to 2027
9.3.3. South America Electric Rice Cooker Market, By End-User, 2020 to 2027
9.3.4. South America Electric Rice Cooker Market, By Distribution Channel, 2020 to 2027
9.3.5. By Country
9.3.5.1. Brazil
9.3.5.2. Argentina
9.3.5.3. Others
9.4. Europe
9.4.1. Europe Electric Rice Cooker Market, By Type, 2020 to 2027
9.4.2. Europe Electric Rice Cooker Market, By Capacity, 2020 to 2027
9.4.3. Europe Electric Rice Cooker Market, By End-User, 2020 to 2027
9.4.4. Europe Electric Rice Cooker Market, By Distribution Channel, 2020 to 2027
9.4.5. By Country
9.4.5.1. UK
9.4.5.2. Germany
9.4.5.3. France
9.4.5.4. Spain
9.4.5.5. Others
9.5. Middle East and Africa
9.5.1. Middle East and Africa Electric Rice Cooker Market, By Type, 2020 to 2027
9.5.2. Middle East and Africa Electric Rice Cooker Market, By Capacity, 2020 to 2027
9.5.3. Middle East and Africa Electric Rice Cooker Market, By End-User, 2020 to 2027
9.5.4. Middle East and Africa Electric Rice Cooker Market, By Distribution Channel, 2020 to 2027
9.5.5. By Country
9.5.5.1. United Arab Emirates
9.5.5.2. Israel
9.5.5.3. Saudi Arabia
9.5.5.4. Others
9.6. Asia Pacific
9.6.1. Asia Pacific Electric Rice Cooker Market, By Type, 2020 to 2027
9.6.2. Asia Pacific Electric Rice Cooker Market, By Capacity, 2020 to 2027
9.6.3. Asia Pacific Electric Rice Cooker Market, By End-User, 2020 to 2027
9.6.4. Asia Pacific Electric Rice Cooker Market, By Distribution Channel, 2020 to 2027
9.6.5. By Country
9.6.5.1. Japan
9.6.5.2. China
9.6.5.3. India
9.6.5.4. South Korea
9.6.5.5. Taiwan
9.6.5.6. Australia
9.6.5.7. Others

10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix

11. Company Profiles 
11.1. Panasonic Corporation
11.2. Toshiba Lifestyle Products & Services Corporation
11.3. Zojirushi Corporation
11.4. Bajaj Electricals Ltd
11.5. Koninklijke Philips N.V.
11.6. Tiger Corporation
11.7. Sunbeam Products Inc.
11.8. Aroma Housewares Company
11.9. Zhejiang Supor Co., Ltd.
11.10.  Magento, Inc.

Panasonic Corporation

Toshiba Lifestyle Products & Services Corporation

Zojirushi Corporation

Bajaj Electricals Ltd

Koninklijke Philips N.V.

Tiger Corporation

Sunbeam Products Inc.

Aroma Housewares Company

Zhejiang Supor Co., Ltd.

Magento, Inc.

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