Dublin, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The "Electric Rice Cooker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global electric rice cooker market achieved a significant milestone in 2022, with a market size of US$ 3.9 billion. Projections indicate continued growth, with the market poised to reach US$ 5.7 billion by 2028. This promising trajectory reflects a robust compound annual growth rate (CAGR) of 5.97% during the forecast period from 2023 to 2028.
Electric rice cookers are indispensable kitchen appliances equipped with a heating element designed to prepare rice effortlessly. Typically made from aluminum or steel, these appliances efficiently regulate cooking temperatures and offer several advantages, including automatic rice cooking and warm-keeping functions. Consequently, they are widely utilized in both residential and commercial settings worldwide.
The market is witnessing a notable surge in the adoption of convenience products, driven by the demands of modern, fast-paced lifestyles. This, coupled with a growing reliance on user-friendly electrical appliances that reduce cooking time, is a significant driver of market growth. Moreover, there is a discernible shift from gas-based kitchen appliances to electric kitchen appliances due to rising global cooking gas prices. Electric rice cookers, with their numerous benefits such as uniform rice cooking and non-stick features, are at the forefront of this transition.
Additionally, electric rice cookers are versatile and allow consumers to cook grains and lentils beyond rice, contributing to their popularity. Key industry players are heavily investing in research and development (R&D) efforts to introduce Wi-Fi-enabled induction rice cookers. Furthermore, electric rice cookers are highly energy-efficient compared to traditional cookers, making them an attractive prospect for industry investors. The integration of the Internet of Things (IoT) in electric rice cookers, enabling remote control and minimal user intervention, is expected to drive market growth in the coming years.
Key Market Segmentation:
The report provides an in-depth analysis of key trends within each sub-segment of the global electric rice cooker market. It includes forecasts at the global, regional, and country levels for the period from 2023 to 2028. The market is categorized based on product type, capacity, distribution channel, and end-user.
Product Types:
- Standard
- Multifunctional
- Induction
- Others
Capacity:
- Small Volume
- Medium Volume
- Large Volume
- Extra Large Volume
Distribution Channels:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
End-Users:
- Household
- Commercial
Regional Breakdown:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report offers a comprehensive analysis of the competitive landscape, featuring key players in the industry.
This report provides a comprehensive overview of the global electric rice cooker market, covering macro-level insights and micro-level details of industry performance. It includes analyses of recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, and more. Entrepreneurs, investors, researchers, consultants, business strategists, and anyone with a stake or interest in the global electric rice cooker market will find this report invaluable.
Key Questions Answered in This Report:
- What was the size of the global electric rice cooker market in 2022?
- What is the expected growth rate of the global electric rice cooker market during 2023-2028?
- What are the key factors driving the global electric rice cooker market?
- How has COVID-19 impacted the global electric rice cooker market?
- What is the market breakdown based on the product type?
- How is the global electric rice cooker market segmented by capacity?
- What are the key distribution channels in the global electric rice cooker market?
- What is the market breakdown based on end-users?
- Which regions are key markets for electric rice cookers?
- Who are the major players and companies in the global electric rice cooker market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $3.9 Billion |
| Forecasted Market Value (USD) by 2028 | $5.7 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/xccoi9
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