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 November 2024 |
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
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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 (2024 - 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 (2024 - 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 (2024 - 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 (2024 - 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 (2024 - 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
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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.
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FAQs
What is the market size of electric rice cooker?
The global electric rice cooker market is estimated to be worth $10.5 billion in 2023, with a projected CAGR of 5.3% through 2033, reflecting robust growth driven by increased consumer demand and technological advancements.
What are the key market players or companies in this electric rice cooker industry?
Key market players in the electric rice cooker industry include major appliance brands such as Panasonic, Tiger Corporation, Zojirushi, and Cuckoo Electronics. These companies are renowned for their innovative technologies and extensive product ranges.
What are the primary factors driving the growth in the electric rice cooker industry?
The growth of the electric rice cooker market is primarily driven by consumer convenience, a rising trend in home cooking, increasing disposable incomes, and advancements in cooking technology that improve energy efficiency and cooking capabilities.
Which region is the fastest Growing in the electric rice cooker market?
The Asia Pacific region is the fastest-growing market for electric rice cookers, projected to expand from $1.98 billion in 2023 to $3.36 billion by 2033, driven by the growing popularity of rice as a staple food and increased adoption of kitchen appliances.
Does ConsaInsights provide customized market report data for the electric rice cooker industry?
Yes, ConsaInsights offers tailored market report data for the electric rice cooker industry, ensuring clients receive insights that align with their specific research needs, including market trends, competitive landscape, and consumer preferences.
What deliverables can I expect from this electric rice cooker market research project?
Deliverables from the electric rice cooker market research project include a comprehensive report featuring market analysis, competitive landscape, segment breakdown, forecasts, and actionable insights tailored to your business objectives.
What are the market trends of electric rice cooker?
Current market trends in the electric rice cooker sector include a shift towards smart cooking devices, increased demand for multifunctional cookers, a rise in online sales channels, and a focus on energy-efficient and eco-friendly products.