Electric Rice Cooker Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Electric Rice Cooker market, covering key insights, market size, segmentations, and growth forecasts for the years 2023 to 2033.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $10.50 Billion |
| CAGR (2023-2033) | 5.3% |
| 2033 Market Size | $17.80 Billion |
| Top Companies | Panasonic Corporation, Zojirushi Corporation, Tiger Corporation, Cuckoo Electronics, Mitsubishi Electric |
| Last Modified Date | 15 Nov 2024 |
Electric Rice Cooker Market Report (2023 - 2033)
Electric Rice Cooker Market Overview
What is the Market Size & CAGR of Electric Rice Cooker market in 2023?
Electric Rice Cooker Industry Analysis
Electric Rice Cooker Market Segmentation and Scope
Request a custom research report for industry.
Electric Rice Cooker Market Analysis Report by Region
Europe Electric Rice Cooker Market Report:
Europe's Electric Rice Cooker market was valued at $3.57 billion in 2023, projected to reach $6.05 billion by 2033. An increase in interest toward multi-functional cooking devices among consumers is a significant growth driver in this region.Asia Pacific Electric Rice Cooker Market Report:
The Asia Pacific region holds the largest market share for Electric Rice Cookers, valued at $1.98 billion in 2023 and projected to grow to $3.36 billion by 2033. High rice consumption in countries like China, India, and Japan fuels demand. Innovations like induction cooking and smart features significantly attract tech-savvy users.North America Electric Rice Cooker Market Report:
The North American market for Electric Rice Cookers was valued at $3.42 billion in 2023 and is anticipated to grow to $5.80 billion by 2033. This growth is supported by health-conscious consumers favoring energy-efficient appliances, alongside the increasing popularity of Asian cuisine.South America Electric Rice Cooker Market Report:
In South America, the market for Electric Rice Cookers is valued at $0.83 billion in 2023, expected to increase to $1.40 billion by 2033. The rise in disposable income and urbanization plays a vital role, aiding the shift toward modern cooking appliances.Middle East & Africa Electric Rice Cooker Market Report:
The Middle East and Africa market for Electric Rice Cookers is valued at $0.70 billion in 2023, expected to grow to $1.19 billion by 2033. Growth is driven by rising urbanization and the increasing popularity of rice as a staple food in several countries.Request a custom research report for industry.
Electric Rice Cooker Market Analysis By Product Type
Global Electric Rice Cooker Market, By Product Type Market Analysis (2023 - 2033)
In terms of product type, conventional Electric Rice Cookers dominate the market with a size of $6.62 billion in 2023, expected to grow to $11.22 billion by 2033, holding a market share of 63.05% throughout this period. Induction Electric Rice Cookers are also gaining traction, growing from $2.74 billion in 2023 to $4.65 billion by 2033, representing a 26.13% share. Smart Electric Rice Cookers, while currently accounting for $1.14 billion, show promising growth, projected to reach $1.93 billion by 2033, maintaining a 10.82% market share.
Electric Rice Cooker Market Analysis By Capacity
Global Electric Rice Cooker Market, By Capacity Market Analysis (2023 - 2033)
The capacity segment reveals that small capacity rice cookers (less than 1 liter) generate significant results, with market sizes of $6.62 billion in 2023, growing to $11.22 billion by 2033, maintaining a 63.05% market share. Medium capacity cookers (1-2 liters) will see growth from $2.74 billion to $4.65 billion, accounting for a 26.13% share. Large capacity models (more than 2 liters) are growing steadily from $1.14 billion to $1.93 billion with a 10.82% segment share.
Electric Rice Cooker Market Analysis By Functionality
Global Electric Rice Cooker Market, By Functionality Market Analysis (2023 - 2033)
Regarding functionality, basic cooking functions dominate the market, generating $8.67 billion in 2023 and projected to rise to $14.69 billion by 2033 with an 82.54% share. Advanced cooking functions are also gaining popularity, forecasted to grow from $1.83 billion to $3.11 billion, representing 17.46% of the market.
Electric Rice Cooker Market Analysis By Price Range
Global Electric Rice Cooker Market, By Price Range Market Analysis (2023 - 2033)
The low price range (under $50) is prominent, with a market size of $6.62 billion in 2023, growing to $11.22 billion by 2033, reflecting a 63.05% market share. The medium price range (between $50 - $150) holds a size of $2.74 billion, set to rise to $4.65 billion by 2033, making up 26.13%. The high price range (above $150) captures a smaller market at $1.14 billion, expected to grow to $1.93 billion while sticking to a 10.82% share.
Electric Rice Cooker Market Analysis By Sales Channel
Global Electric Rice Cooker Market, By Sales Channel Market Analysis (2023 - 2033)
The trend in sales channels shows online sales dominating the market with a size of $8.67 billion in 2023, expected to reach $14.69 billion by 2033, retaining an 82.54% share. Offline sales, in contrast, are anticipated to grow from $1.83 billion to $3.11 billion, representing a 17.46% share.
Electric Rice Cooker Market Trends and Future Forecast
Request a custom research report for industry.
Global Market Leaders and Top Companies in Electric Rice Cooker Industry
Panasonic Corporation:
One of the leading manufacturers of electric cooking appliances, Panasonic offers a wide range of advanced electric rice cookers known for their durability and innovative features.Zojirushi Corporation:
A renowned brand in high-end rice cookers, Zojirushi specializes in premium rice cooking technology, focusing on efficient and versatile cooking options.Tiger Corporation:
Tiger Corporation is known for its advanced induction heating rice cookers that deliver exceptional cooking quality and ease of use.Cuckoo Electronics:
Cuckoo specializes in smart rice cookers, often incorporating IoT technology, appealing to tech-savvy consumers.Mitsubishi Electric:
A prominent player in the electric appliance market, Mitsubishi Electric focuses on creating energy-efficient and high-performance electric rice cookers.We're grateful to work with incredible clients.
