An electric rice cooker is an automatic electronic kitchen appliance that is used to steam or boil rice. The growing number of nuclear families, single-person homes, and job migration have all increased as a result of India's developing economy and changing consumer habits. As a result, many families in India have an increased demand for accessibility and are searching for solutions that provide convenience and significantly cut down on the time and effort required to complete daily tasks. Hence, the demand for electric rice cookers has been on the rise as they are energy efficient and take a minimum amount of time to prepare the rice and other food items. For instance, the Journal of Food Engineering claims that electric rice cookers are an extremely energy-efficient cooking device since they use 23 percent to 57 percent less energy than other traditional cooking appliances. On the other hand, the high price of electric rice cookers, lack of technical know-how, lack of electrical infrastructure, and technical glitches in rice cookers are some of the factors impeding the growth of the market during the analysis period.
Growing demand for convenient, quick, and easy kitchen appliances will encourage growth
Rice is considered one of the chief grains of India. It is a staple in an average Indian diet and is cooked in millions of households across the country. According to official data, India's annual average consumption of rice is estimated to be around 100 million tons. Therefore rice cooker has a massive application in this country. Hectic daily life schedules, corporate work culture, shifting lifestyle choices of Indians, and remote working options have forced consumers to look for convenient kitchen appliances that save time and energy which include electric rice cookers.
The rising purchasing power of Indian consumers, along with growing nuclear families, and the rising involvement of females in the workforce is also propelling growth for the market during the forecast period. According to the World Bank database, the per capita income of India stands at US$7310 in 2021.
The high price of electric cookers, along with the lack of knowledge will obstruct the growth of the electric rice cooker market in India during the forecast period.
A good quality electric rice cooker that cooks rice evenly costs a lot of money. Even though the disposable income of Indian households is on the rise still a large portion of the country comes under the below poverty line. Since most electric rice cookers are automated, therefore are sold at a steep price range. The high price tag of electric rice cookers restricts the growth of the market in India. With the high inflation in the country, not everyone can afford to splurge on such high costing kitchen appliances. Lack of knowledge among consumers regarding the advantages of electric rice cookers especially in rural areas is also limiting market prospects. Since the literacy rate is quite low in rural areas and small towns in India, they are unaware of the benefits of electric rice cookers and don’t even know how to use them.
The online distribution channel for selling electric rice cookers is expected to witness rapid growth in India
Based on distribution channels the Indian market is categorized into online channels and offline channels. The online channels are expected to grow rapidly during the projection period. Rising e-commerce sales in India will propel the growth of this segment. According to official data, with an estimated US$85.4 billion in sales in 2021, India is the eighth-largest market for eCommerce. The popularity of internet shopping along with expanding social media impact and increased electrical infrastructure all point to rising demand for electric rice cookers. During the festive season, e-commerce websites like Amazon, and Flipkart give out huge discounts and offers on electronic consumer devices and kitchen appliances such as electric rice cookers which will further spur growth for this segment.
Key Developments
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR during the forecast period |
| Base Year | 2021 |
| Forecast Period | 2023–2028 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Type, Capacity, Distribution Channel, End User, And States |
| Regions Covered | Delhi, Maharashtra, Tamil Nadu, Andhra Pradesh, Others |
| Companies Covered | Prestige, Panasonic, Stovekraft, Bajaj Electricals Ltd, Usha International Ltd, Preethi, Skyline Home Appliances, Nelcon Industries India Pvt Ltd |
| Customization Scope | Free report customization with purchase |
Segmentation: