Below are some of the key findings from the electric rice cooker market research report
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Global electric rice cooker industry overview
The increasing product innovation and portfolio extension leading to premiumization is one of the key factors expected to drive the market’s growth in the forthcoming years. Electric rice cookers with integrated modern technologies, innovative features, and multiple functionalities are witnessing high demand from customers. The portfolio extension of the electric rice cookers has increased sales and has led to product premiumization. Because of this, the probability of new customer acquisition and repeat customers have increased significantly, in turn, driving the electric rice cooker market growth. Researchers forecast the market to grow at a CAGR of close to 7% during the forecast period.
The multifunctionality of electric rice cookers is one of the key trends likely to gain traction in the market during the forthcoming years. Vendors are increasingly introducing models with rubber seals and locking mechanisms for spill-free transportation of food. The deployment of advanced features including LCD display and voice navigation for easy control improves the performance and functionality of electric rice cookers. This will further accelerate the electric rice cooker market growth in the forthcoming years.
Top electric rice cooker companies covered in this market research report
The electric rice cooker market is highly fragmented with companies focusing on launching innovative electric rice cookers catering to the evolving end-user requirements. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this electric rice cooker industry analysis report is designed to help clients build effective business strategies for strengthening their position in the market.
The report offers a complete analysis of various companies including:
- ELECTROLUX
- Hamilton Beach Brands
- Koninklijke Philips
- Newell Brands
- Spectrum Brands
Electric rice cooker market segmentation based on geographic regions
- Americas
- APAC
- EMEA
The APAC region will account for the largest electric rice cooker market revenue throughout the forecast period. The region will continue to dominate the market owing to the rising population and growth in disposable income.
Electric rice cooker market segmentation based on distribution channel
- Online
- Offline
The offline distribution channel segment will account for the highest electric rice cooker market share during the forecast period owing to the growing sales of these cookers from several specialty stores, department stores, hypermarkets, supermarkets, and warehouse clubs. Additionally, the report will also provide an accurate prediction of the contribution of the various distribution channel segments to the growth of the electric rice cooker market size.
Key highlights of the global electric rice cooker market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the electric rice cooker market during the next five years
- Precise estimation of the global electric rice cooker market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the electric rice cooker industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the electric rice cooker companies
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