Global Electric Rice Cooker Market: Overview
Cooking rice needs two things that would convert hard, little grains to comparatively big, fluffy morsels. These two things are a lot of water and heat. Hence, cooking of rice comprises four different stages, which are sitting in water, boiling, steaming, and resting. Modern day rice cookers automatically take rice through these four stages. An electric rice cooker mainly comprises of some buttons, a thermal-sensing device, an electric heating plate, an inner cooking pan, and a main body.
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The global electric rice cooker market is expected to be driven by the augmented product innovation together with diversification and widening of product portfolio that leads to premiumization. Integration of multiple functionalities, innovative features, and modern technologies into the product is likely to fuel growth of the global electric rice cooker market in years to come. Portfolio extension of electric rice cookers has further increased its sales revenue and bolstered its demand.
The global electric rice cooker market has been segmented based on product, application, distribution channel, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.
Global Electric Rice Cooker Market: Notable Developments
The global electric rice cooker market has come across quite a few developments in the last few years. One such development of the market is mentioned below:
- In 2019, Instant Pot launched Instant Pot Duo Evo Plus – 10-in-1 multi-use programmable pressure cooker. This feature-rich, new model comes with several new features. Integration of various modes of cooking such as built-in sous vide immersion cooking, slow cooking, steaming, food warming, sautéing, and many others. Availability of numerous features is likely to assist the company capture greater share of the market.
Some of the key market players of the global electric rice cooker market are
- Zojirushi America Corporation
- Aroma Housewares Company
- Instant Pot
- Koninklijke Philips N.V.
- Panasonic Corporation
- Toshiba Corporation
Global Electric Rice Cooker Market: Growth Drivers
Increased Incidences of Physical Inactivity to Fuel Growth of the Market
The global electric rice cooker market is expected to be driven by the multi-functionality of the product. Vendors in the global electric rice cooker market are making relentless efforts to come up with models that would incorporate rubber seals and locking arrangement that would prevent spillage of food during transportation. Integration of high-end features such as voice navigation and LCD display for hassle-free control betters the functionality and performance of electric rice cookers. This is further likely to propel the expansion of the global electric rice cooker market in the years to come.
Increasing participation of women in the work force together with rising affordability and availability of less time for household chores are likely to act as stimulants for the growth of the global electric rice cooker market.
An increased emphasis on the research and development activities to develop innovative, feature-rich product designs is made to diversify product offering so as to cater to the evolving needs of modern day consumers. Manufacturers are also making efforts to come up with electric rice cookers integrated with multifunction capabilities that caters to the need of commercial as well as residential cooking applications. Trends such as this are likely to lead to widening of consumer base, thereby leading to the expansion of the global electric rice cooker market in years to come.
Global Electric Rice Cooker Market: Regional Outlook
Asia Pacific is estimated to be one of the leading regions in the global electric rice cooker market exhibiting rapid pace of growth. Rice is a staple food in the region, particularly in countries like India, Japan, China, and Indonesia. Prominence of rice in the cuisine of the region is an important factor fuelling the development of the electric rice cooker market in Asia Pacific over the years of projection. In addition, a rise in the disposable income of the people in the region together with propensity to spend on premium home appliances is estimated to bolster demand for electric rice cookers in Asia Pacific.
The global electric rice cooker market is segmented as:
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