Global Electric Cooker Market – Industry Trends and Forecast to 2030

Global Electric Cooker Market, Product Type (Standard, Multifunctional, Induction, Others), Distribution Channel (Online, Offline), End User (Commercial, Household) - Industry Trends and Forecast to 2030.

Electric Cooker Market Market Analysis and Size         

The electric cooker market is witnessing steady growth driven by factors such as increasing urbanization, busy lifestyles, and the demand for convenient cooking solutions. Moreover, technological advancements such as induction cooking and smart features are reshaping the market landscape. For instance, companies such as Instant Pot and Breville are introducing innovative electric cookers with multifunctionality and connectivity, catering to diverse consumer needs and preferences.

Data Bridge Market Research analyses that the global electric cooker market which was USD 3,361.98 million in 2022, is expected to reach USD 5,545.68 million by 2030, and is expected to undergo a CAGR of 6.2% during the forecast period of 2023 to 2030. “Standard” dominates the  product type segment of the global electric cooker market part owing to its increasing demand and cost-effectiveness. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Electric rice cookers are electrical cooking appliances with a heating element that helps prepare rice. They are made from aluminum or steel, which helps regulate the temperature required for cooking. They offer several advantages, such as cooking the rice automatically as well as keeping it warm. As a result, they find extensive applications in residential and commercial sectors across the globe.

Global Electric Cooker Market Dynamics

Drivers

• Rising Demand for Energy Efficiency and Versatile Cooking Option

One of the key factors anticipated to propel the market over the coming few years is the growing significance of energy-saving appliances such as induction heat electric rice cooker and multifunction electric rice cooker by reducing the time required to do household chores and multi-function programmed for cooking such as different types of rice cook, steaming features, making soups among others.

• Increasing Numbers of Working Women and their Busy Lifestyle

Increasing numbers of working women and their busy lifestyle of both the family members (wife & husband) with their office work and they have less time to do the daily household work. So, these appliances help save time for themselves and as well as increase efficiency in their workforce.

Opportunities

• Product Innovation and Portfolio Extension

Moreover, the growing importance of different energy-saving appliances counting electric cookers and induction cooktops, for dropping household expenses, as well as the rising focus of manufacturers on making technologically advanced and multifunctional electric cookers, are boosting various lucrative opportunities for the electric cooker market in the above mentioned forecast period.

Restraints/Challenges

• Stringent Regulations and Harmful Effects

There are some factors that are hampering the growth of the market, such as stringent regulations and harmful effects associated with polyester.

Recent Developments

• In October 2021, Midea’s landmark automatic rice cooker was launched at Canton Fair. It is fully automatic and used for smart cooking. The built-in infrared sensor technology automatically detects the rice quantity and controls the water quantity autonomously
• The first IoT-enabled smart rice cooker in India was just unveiled by TTK Prestige. This appliance can be remotely managed and controlled from the user’s phone using the Prestige Smart App, making it ideal for anyone leading a busy lifestyle

Global Electric Cooker Market Scope

The global electric cooker market is segmented on the basis of product type, distribution channel and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Standard,
• Multifunctional,
• Induction,
• Others

Distribution Channel

• Online
• Offline

End User

• Commercial
• Household

Global Electric Cooker Market Regional Analysis/Insights

The global electric cooker market is analysed and market size insights and trends are provided by product type, distribution channel and end user as referenced above.

The countries covered in the global electric cooker market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the electric cooker market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising urbanization, insistent product promotion strategies of companies, along with the increasing disposable income of the consumers in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Electric Cooker Market Share Analysis

The global electric cooker market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the global electric cooker market.

Some of the major players operating in the global electric cooker market are:

• Newell Brands (U.S.)
• Spectrum Brands Inc. (U.S.)
• Panasonic (Japan)
• ELECTROLUX (Sweden)
• Koninklijke Philips N.V. (Netherlands)
• Nine Yang (China)
• S.K. Gupta & Company (Hyderbad)
• Triangle Inc. (U.S.)
• Toshiba India Pvt. Ltd. (India)
• Haier Inc. (Chin)
• TCL (China)
• Rongshida (China)
• Konka Group (China)
• Glanz Toshiba (Japan)
• Royalstar (India)
• Mitsubishi Electric Corporation (Japan)
• Sanyo (Japan)
• LG Electronics (South Korea)