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

Electric Rice Cooker Market size was valued at USD 3.2 billion in 2022 and is anticipated to register a CAGR of over 6% by 2032. Electric rice cookers have gained popularity due to their unmatched convenience in preparing rice dishes. With the press of a button, users can effortlessly cook rice without constant monitoring or stirring. This time-saving feature appeals to busy individuals and families, allowing them to focus on other meal preparations or daily tasks while ensuring that the rice is well-cooked.
 

Consumers are increasingly mindful of energy consumption and rice cookers are designed to be highly efficient, reducing electricity usage during cooking. This not only appeals to environmentally conscious buyers but also results in lower electricity bills over time. Furthermore, energy-efficient rice cookers often integrate advanced insulation and smart cooking algorithms, ensuring that rice is cooked thoroughly while using minimal energy, making them an attractive choice in the current eco-conscious consumer landscape.
 

The industry faces competition from versatile kitchen appliances such as pressure cookers and microwave ovens that include rice-cooking functions. These multi-functional devices appeal to consumers seeking space-saving & cost-effective solutions as they can perform various cooking tasks beyond rice preparation. This trend encourages dedicated rice cooker manufacturers to innovate & differentiate their products by offering unique features, superior ease of use, or superior rice-cooking capabilities to maintain their business share and relevance.
 

COVID-19 Impact

The COVID-19 pandemic had notable impacts on the electric rice cooker market, primarily due to supply chain disruptions. Lockdowns & restrictions affected the production and transportation of components & finished products, leading to delays and increased costs. Additionally, consumer spending patterns shifted during the pandemic with some prioritizing essential goods over non-essential appliances such as rice cookers
 

Electric Rice Cooker Market Trends

The integration of smart technology into kitchen appliances is contributing to the lucrative evolution of electric rice cookers. The innovative features offered in these cookers enhance user convenience and cater to tech-savvy consumers, expanding the appeal of electric rice cookers. For instance, Xiaomi launched a range of products including the MIJIA Translucent Steam Rice Cooker. This innovative addition to its lineup boasts seven cooking modes.
 

Electric Rice Cooker Market Analysis

Based on type, the electric rice cooker market is divided into standard/basic cooker and multifunctional cooker. The standard/basic cooker segment held around USD 2 billion in industry revenue in 2022. These basic models are typically budget-friendly compared to their advanced counterparts. They appeal to cost-conscious consumers who seek a straightforward and reliable appliance solely for cooking rice. The demand for standard rice cookers remains steady as they provide essential functionality, ease of use, and a practical solution for preparing perfectly cooked rice without the added complexity of extra features.
 

Based on distribution channel, the electric rice cooker market is categorized into online and offline. The offline segment held a major industry share over 67% in 2022. The offline distribution channel continues to be lucrative for the industry due to its ability to reach a broad and diverse consumer base including those who prefer in-person shopping experiences. Physical retail outlets including appliance stores and kitchenware shops allow customers to see, touch & evaluate products before making a purchase. Additionally, personalized assistance from sales representatives can help consumers make informed decisions.
 

North America dominated the electric rice cooker market with a major share of over 35% in 2022. U.S. electric rice cooker manufacturers are asserting their dominance in the North America industry by consistently introducing high-tech appliances. These manufacturers are at the forefront of innovation, launching smart rice cookers equipped with advanced features. High adoption of smart way of living gadgets are accelerating the demand of smart consumer goods in this region.
 

Electric Rice Cooker Market Share

Major players operating in the electric rice cooker market are

• Panasonic Corporation
• Tiger Corporation
• Zojirushi Corporation
• Hamilton Beach Brands Inc.
• Breville Group Limited
• Hitachi Appliances Inc.
• Toshiba Corporation
   

Electric Rice Cooker Industry News

• In September 2023, Gaabor, a prominent household appliance brand, announced that it would offer attractive bargains to shoppers through the 9.9 Super Shopping Day in the Philippines. The products offered will include 1.8L Mini Rice Cooker, 2L Airfryer, and 3L Intelligent Rice Cooker, etc.
   
• In December 2022, Crompton Greaves Consumer Electricals Ltd. leveraged its engineering proficiency to enter the kitchen appliance market, reshaping the contemporary Indian kitchen with its inventive assortment of compact home appliances. This product lineup encompasses items such as the Deluxe Hot Kettle, Air Fryer, Rice Cooker, Electric Chopper, and more.
   

The electric rice cooker market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipment (Units) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report

By Volume, 2018 – 2032

• Low
• Medium
• Large

By Type, 2018 – 2032

• Standard/Basic Cooker
• Multifunctional cooker

By Distribution Channel, 2018 – 2032

• Offline
• Online

By End User, 2018 – 2032

• Residential
• Commercial

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa