Electric Rice Cooker Market Report by Product (Standard, Multifunctional, Induction, and Others), Capacity (Small Volume, Medium Volume, Large Volume, Extra Large Volume), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Store

Electric Rice Cooker Market Report by Product (Standard, Multifunctional, Induction, and Others), Capacity (Small Volume, Medium Volume, Large Volume, Extra Large Volume), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores, and Others), End User (Household, Commercial), and Region 2024-2032

The global electric rice cooker market size reached US$ 4.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032. The rising preference for healthy home-cooked meals, convenience offered by electric cookers in simplifying the cooking process, versatility of the product, and increasing popularity of Asian cuisines that includes rice dishes are some of the major factors propelling the market.

An electric rice cooker is a kitchen appliance designed to simplify the process of cooking rice. It consists of a metal or non-stick inner pot, an outer shell, and a heating element. The user adds the desired amount of rice and water to the inner pot, and the cooker automatically regulates the cooking process. The heating element heats the pot, bringing the water to a boil and then reducing the heat to a simmer to cook the rice evenly. Once the rice is cooked, the cooker switches to a keep warm mode, maintaining the rice at an optimal temperature until it is ready to be served. Electric rice cookers eliminate the need for constant monitoring and provide consistent and fluffy rice with minimal effort.

One of the primary factors driving the market is the rising preference for healthy-home cooked meals. Electric rice cookers provide a hassle-free way to cook rice, encouraging individuals to include this as a staple food in their homemade meals. Moreover, rice cookers often feature settings for different types of rice, allowing users to customize their cooking experience. Additionally, electric rice cookers offer convenience by simplifying the rice cooking process. They eliminate the need for constant monitoring and stirring, allowing users to set the timer. This time-saving aspect resonates with busy individuals and households, making electric rice cookers an attractive kitchen appliance. Other than this, the increasing popularity of Asian cuisines, which prominently includes rice dishes, has gained widespread popularity globally. As people explore diverse culinary experiences, the demand for electric rice cookers has surged.

Electric Rice Cooker Market Trends/Drivers:
Rising Preference for Healthy Home-Cooked Meals

The rising preference for healthy home-cooked meals propels the electric rice cooker market by encouraging individuals to incorporate rice dishes into their diet. These cookers offer a convenient and hassle-free way to prepare rice, making it easier for health-conscious individuals to cook nutritious meals at home. With features, such as programmable settings and the ability to cook different types of rice, electric rice cookers cater to the specific needs of health-conscious individuals who seek control over their ingredients and cooking methods.

Convenience and Time Saving

Electric rice cookers offer a hassle-free and efficient way that simplify the cooking process and save time of individuals. With programmable settings and automated functions, users can set the desired cooking time and allows users to engage in other tasks while the rice cooks perfectly. The time-saving aspect is particularly appealing to busy individuals, working professionals, and families seeking quick and effortless meal preparation.

Increasing Popularity of Asian Cuisines

Electric rice cookers are designed to cook different types of rice commonly used in Asian cuisine, ensuring optimal texture and flavor. As more people explore and embrace diverse culinary experiences, the desire to replicate authentic Asian dishes at home is growing. The electric rice cooker becomes an essential tool to achieve consistent and delicious results, driving its adoption among individuals who want to enjoy Asian-inspired meals in their own kitchens, thereby contributing to the growth of the market.

Electric Rice Cooker Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global electric rice cooker market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product, capacity, distribution channel, and end user.

Breakup by Product:

Electric Rice Cooker Market

Standard
Multifunctional
Induction
Others

Standard electric rice cookers represent the most popular product

The report has provided a detailed breakup and analysis of the electric rice cooker market based on the product. This includes standard, multifunctional, induction, and others. According to the report, standard electric rice cookers represented the largest segment.

Standard electric rice cookers provide a simple and affordable solution for cooking rice. These basic models provide essential features such as automatic cooking and keep-warm functions, making them accessible to a wide range of consumers. They appeal to individuals seeking a no-frills option for cooking rice without any additional complexities. The affordability and ease-of-use of standard electric rice cookers make them a popular choice for those looking for a straightforward and reliable cooking appliance.

Breakup by Capacity:

Small Volume
Medium Volume
Large Volume
Extra Large Volume

Small volume cookers dominate the market

A detailed breakup and analysis of the electric rice cooker market based on capacity has also been provided in the report. This includes small volume, medium volume, large volume, extra-large volume. According to the report, small volume rice cookers accounted for the largest market share.

Small volume electric rice cookers drive the market by catering to individuals or small households with lower rice consumption. These compact and portable models typically have a capacity of 1 to 3 cups of uncooked rice. They offer convenience for those who need to cook smaller portions, ensuring efficient rice preparation without wastage. Small volume electric rice cookers are popular among students, singles, or small families who value space-saving appliances and the ability to cook just the right amount of rice for their needs.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others

The majority of the electric rice cookers are distributed though supermarkets and hypermarkets

A detailed breakup and analysis of the electric rice cooker market based on the distribution channel has also been provided in the report. This includes supermarkets and hypermarkets, specialty stores, online stores, and others. According to the report, supermarkets and hypermarkets represented the largest segment.

Supermarkets and hypermarkets are large-scale retail stores that offer a wide range of products, including various models and brands of electric rice cookers. The convenience of one-stop shopping and the ability to compare different options side by side attract consumers seeking an electric rice cooker. Supermarkets and hypermarkets often provide competitive pricing, promotional offers, and discounts, making them an accessible and cost-effective avenue for consumers to purchase electric rice cookers, thus driving the market through increased visibility and availability.

Breakup by End User:

Household
Commercial

Household is the largest end user segment

A detailed breakup and analysis of the electric rice cooker market based on the end user has also been provided in the report. This includes household and commercial. According to the report, household accounted for the majority of the market share.

Electric rice cookers are mostly used in households, providing a convenient and efficient way to cook rice. With various sizes, capacities, and features available, electric rice cookers cater to the needs of individual households, small families, and large families alike. The desire for quick, hassle-free rice preparation, along with the growing popularity of diverse rice dishes in home cooking, contributes to the sustained demand for electric rice cookers among households, driving the market forward.

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Asia Pacific exhibits a clear dominance in the market, accounting for the largest electric rice cooker market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for electric rice cookers.

Asia Pacific is a significant driver of the electric rice cooker market due to its rich culinary heritage and large population. The region's preference for rice-based dishes and the rising disposable incomes contribute to the growing demand for electric rice cookers. The convenience, time-saving features, and versatility of electric rice cookers align with the busy lifestyles of individuals in Asia Pacific. The expanding middle-class population and urbanization drive the market's growth as numerous households adopt electric rice cookers for their everyday cooking needs. Moreover, the strong cultural connection to rice consumption ensures the sustained demand for electric rice cookers in the region.

Competitive Landscape:
The key players invest in research and development (R&D) to innovate and introduce advanced features in their electric rice cooker models. This includes technologies like smart controls, programmable settings, and enhanced safety mechanisms. Additionally, key players focus on product differentiation by providing a diverse range of electric rice cooker models with varying capacities, sizes, and design aesthetics to cater to different consumer preferences. Marketing and promotional activities play a crucial role in driving the electric rice cooker market. Key players invest in advertising campaigns, digital marketing strategies, and partnerships with influencers to create brand awareness and reach a wider audience. They also engage in promotional offers, discounts, and attractive pricing strategies to attract customers and gain a competitive edge. Key players also prioritize distribution and retail partnerships to ensure wider availability of their products. They collaborate with supermarkets, specialty stores, and online platforms to reach consumers in various geographical locations. Strategic partnerships with retailers and e-commerce platforms help in expanding market reach and ensuring product visibility.

The report has provided a comprehensive analysis of the competitive landscape in the global electric rice cooker market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

AB Electrolux
Bajaj Electricals Ltd.
Breville Group Limited
Groupe SEB
Koninklijke Philips N.V.
Newell Brands
Panasonic Corporation
Tiger Corporation
Toshiba Corporation
TTK Prestige Ltd.
Wonderchef Home Appliances Pvt. Ltd.
Zojirushi Corporation

Recent Developments:
Koninklijke Philips N.V. launched a 5-layer Bakuhanseki coating rice cooker, which is six times harder than normal coatings. It ensures that the product lasts longer, and the 3D heating system delivers 360 degrees heat circulation.
TTK Prestige Ltd. launched India’s first IoT-enabled rice cooker that can be controlled remotely by consumers through the prestige smart app in their mobile phones.
Zojirushi Corporation launched Zojirushi NS-TSC10 micom rice cooker and warmer with easy-to-clean clear coated stainless-steel exterior and micro computerized fuzzy logic technology.

Key Questions Answered in This Report

1. What was the size of the global electric rice cooker market in 2023?
2. What is the expected growth rate of the global electric rice cooker market during 2024-2032?
3. What are the key factors driving the global electric rice cooker market?
4. What has been the impact of COVID-19 on the global electric rice cooker market?
5. What is the breakup of the global electric rice cooker market based on the product?
6. What is the breakup of the global electric rice cooker market based on the capacity?
7. What is the breakup of the global electric rice cooker market based on the distribution channel?
8. What is the breakup of the global electric rice cooker market based on the end user?
9. What are the key regions in the global electric rice cooker market?
10. Who are the key players/companies in the global electric rice cooker market?