Electric Rice Cooker Market Size - By Volume (Low, Medium, Large), By Type (Standard/Basic Cooker, Multifunctional Cooker), By Distribution Channel, By End User, Global Forecast 2023 - 2032

Electric Rice Cooker Market Size - By Volume (Low, Medium, Large), By Type (Standard/Basic Cooker, Multifunctional Cooker), By Distribution Channel, By End User, Global Forecast 2023 - 2032

Electric rice cooker market size is slated to expand at over 6% CAGR from 2023 to 2032, driven by the rising popularity of rice-based diets, particularly in Asian countries. The emergence of busy lifestyles across the globe is driving the increasing adoption of convenient kitchen appliances. With large number of consumers seeking convenience and sustainability, the need for energy-efficient and time-saving features has also garnered significant attention.

Moreover, the rising focus on innovations is spurring the introduction of smart, programmable rice cookers with advanced functionalities. For instance, in June 2023, Tiger Corporation unveiled the 100th-anniversary commemorative edition of the TIGER COOKPOT COK-A220 electric pressure cooker. The growing awareness of health-conscious cooking and the incorporation of multi-cooking functions in appliances will also ensure promising future for the industry growth.

The electric rice cooker market is segregated based on volume, type, distribution channel, end-user, and region.

Based on type, the market share from the multifunctional electric rice cooker segment is projected to increase at rapid pace by 2032, owing to the rising consumer demand for versatile kitchen appliances. The increasing interest in one-pot cooking, time-saving convenience along with the ability to prepare variety of dishes beyond rice will drive the product demand.

In terms of volume, the medium-volume segment of the electric rice cooker market will exhibit substantial CAGR during the forecast period. This is owing to the increasing number of households with moderate rice consumption and the subsequent need to balance capacity and size.

Based on end-user, the industry value from residential end-use segment is estimated to grow at a rapid pace through 2032. The growth can be attributed to the rising need for catering to the needs of small households. The provision to convenience, time-saving, and energy-efficient features offered by electric cookers will also add to the segment growth.

Regionally, the Asia Pacific electric rice cooker industry is set to expand at robust CAGR by 2032, driven by the strong rice-based diet traditions, increasing urbanization, busy lifestyles, and the growing middle-class population in the region. The rising disposable incomes along with growing preference for convenient cooking appliances will also push the regional market expansion.