Global Electric Cooker Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2022 –2029 |
 Market Size (Base Year) |
USD 3,361.98 Million |
 Market Size (Forecast Year) |
USD 5,545.68 Million |
 CAGR |
% |
| Major Markets Players |
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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
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Report Metric |
Details |
|
Forecast Period |
2023 to 2030 |
|
Base Year |
2022 |
|
Historic Years |
2021 (Customizable to 2015-2020) |
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Quantitative Units |
Revenue in USD Million, Volumes in Tons, Pricing in USD |
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Segments Covered |
Product Type (Standard, Multifunctional, Induction, Others), Distribution Channel (Online, Offline), End User (Commercial, Household) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
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Market Players Covered |
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) |
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Market Opportunities |
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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)
SKU-
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
