"Overview of Electric Rice Cooker Market"
The Global Electric Rice Cooker Market was valued at US$ XX In 2018 And It Is Anticipated To witness A CAGR Of 6.8% To reach the market value Of US$ 1.16 Bn by 2027.
An electric rice cooker is intended to prepare small, long or intermediate grain rice with slight or no interference from the chef or person who is cooking. These electronic machines come in a variety of capabilities and costs along with several features for cooking rice.
Growing product recognition, uniform economic arrangement, and raw material availability is driving the demand for Electric Rice Cooker across the Globe
The main advantage of the global rice cookers market is the ease of electric rice cookers, users can regulate heat and choose the duration of cooking. The customers are capable to prepare what they desire incorporating soup and fish. Electric rice cookers conserve a lot of time cooking long-grain rice that spends a long time cooking on the stovetop. It assists in eliminating guesswork affiliated with cooking rice and consolidates cooking techniques that consist of pressure with dampness content to make satisfying rice. It prepares rice without the concern of clinging or roasting it while preparing. It does not need removing out the extra water as in the case of cooking on the stovetop that benefits to preserve the healthful quantity of the rice. The aforementioned points are the major constituents that accelerate market expansion over the assessment period.
Changing the concentration of prominent companies on inventions so as to have a competing influence in the business has directed to the initiation of connected cooking appliances. Since the past few years, connected cooking has augmented prevalence as it requires the interconnection of rice cookers through the application of the Internet of Things (IoT), aiding minimum interference by remote administration. The multi-performance electric rice cookers will have an assertive influence on the market and assist in its development substantially in the course of the evaluation period.
Change in user's inclinations has floored the road for kitchen device production companies to research with product prototypes. These products enable cooking device companies to increase their collections and more efficiently provide to the mounting demands of consumers. Product development policy allows them to procure a more comprehensive consumer foundation and extend its business scope. Furthermore, the production companies are concentrating on submitting multi-performance characteristics linked with electric rice cookers in various ranges from little to extra-large in order to accommodate home and industrial utilization. For example, the Tayama rice cooker comes with a detachable inside, which proffers comfortable storage and cleaning.
In spite of the large cost equaled to conventional cookers, customers are manifesting influential requests for electric rice cookers. This is commencing to product premiumization and collection augmentation by market merchants. For example, some merchants are proposing smart electric rice cookers with in-built Wi-Fi connectivity which enables customers to regulate functions by using a smartphone application. The initiation of such smart added peculiarities is assisting business people to distinguish themselves from other contenders in the market. Further, product premiumization is promoting more loyal customer commitment with particular brands and products, which enhances the possibility of recurred sales from existing clients. Such policies embraced by merchants are anticipated to stimulate the progress of the global electric rice cooker market throughout the assessment period.
The household segment to hold a significant share in Global Electric Rice cooker Market
The household subdivision apprehended the foremost market stake in the year 2018. Ever-changing consumer leaning towards expedient and energy effectual cooking devices is anticipated to be a crucial constituent for market evolution in the household subdivision. Furthermore, the growth in the number of nuclear families in emerging nations comprising China and India is estimated to stay a promising aspect for the subdivision in the forthcoming years.
The offline distribution channel subdivision presented the largest income share in 2018. Most of the people still favor purchasing these electric products from real shops instead of e-commerce. The escalating figure of retail stores, malls particularly in emerging markets like Brazil, India, and China is anticipated to inflate the prominence of these electrical devices through offline channels.
The Asia Pacific Is Projected To Dominate the Global Electric Rice Cooker Market during the Forecast Period
The APAC region apprehended the biggest part of the market in 2018. Rice is the staple food in most of the nations in the APAC region, thus, is an influential aspect for the expansion of the market for electric rice cooker in this region.
Europe is anticipated to observe the highest CAGR in the duration of the assessment period. One of the main traits for market expansion is the existence of well-developed cooking devices companies in the European region. Moreover, the soaring recognition towards the benefit of cooking devices with low emission is envisioned to boost the requirement for electric rice cookers in this region.
Several corporations are converging on organic development procedures such as product endorsements, and product introductions and others, for example, presentations and grants. The prevailing corporations from the electric rice cooker market are anticipated to have advantageous progression possibilities in the future with the increasing demand for the electric rice cooker market in the international market.
Key players operating in the Global Electric Rice market are Philips, Aroma Housewares Company, Toshiba Corporation, Sunbeam Products Inc., Panasonic, Bajaj Electricals, Cusinart, Tiger Corporation, and Zojirushi America Corporation.
Global Electric Rice Cooker Market Segmentation
Global Electric Rice Cooker Market, by Application
Global Electric Rice Cooker Market, by Product
Global Electric Rice Cooker Market, by Distribution Channel
Global Electric Rice Cooker Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa