According to a new report, published by KBV research, The Global Electric Rice Cooker Market size is expected to reach $1.5 billion by 2030, rising at a market growth of 7.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 14,780 thousand Units, experiencing a growth of 7.1% (2019-2022).
The Commercial segment is experiencing a CAGR of 7.9% during (2023 - 2030). The market for automatic rice cookers has been driven by the introduction of large units with heating capabilities. This feature provides cooking and heating options, making them particularly useful in commercial settings such as restaurants and hotels, requiring minimal maintenance and monitoring. Government regulations that prohibit the use of gas connections in populated areas also contribute to the increase in demand for electric cookers in the commercial sector.
The Offline segment is leading the Global Electric Rice Cooker Market, By Distribution Channel in 2022; thereby, achieving a market value of $977.3 million by 2030. Due to its capacity to reach a large and diverse consumer base, including those who favor in-person shopping experiences, the offline distribution channel continues to be profitable for businesses. Before purchasing, customers can see, touch, and evaluate products in person at physical retail locations, such as cookware and appliance stores.
The Multifunctional segment is exhibiting a CAGR of 7.4% during (2023 - 2030). A multifunctional rice cooker is a popular kitchen appliance that can be used for baking, boiling, steaming, and stewing. These cookers are easy to use and come with programmable settings, built-in countdown timers, portability, detachable interiors for easy cleaning, and the ability to store cooked food. The electric rice cooker market has significantly benefited from these features. The features of multifunctional electric rice cookers appeal to consumers, contributing to the segment's growth.
The Asia Pacific region dominated the Global Electric Rice Cooker Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $795.9 million by 2030. The Europe region is poised to grow at a CAGR of 6.9% during (2023 - 2030). Additionally, The North America region would register a CAGR of 6.6% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/electric-rice-cooker-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Toshiba Corporation, TTK Prestige Limited, Panasonic Holdings Corporation, AB Electrolux (Electrolux), Wonderchef Home Appliances Pvt. Ltd., Groupe SEB, Pigeon Corporation, Koninklijke Philips N.V., Cuisinart (Conair Corporation), and Aroma Houseware Company.
By Application (Volume, Thousand Units, USD Million, 2019-2030)
By Distribution Channel (Volume, Thousand Units, USD Million, 2019-2030)
By Product (Volume, Thousand Units, USD Million, 2019-2030)
By Geography (Volume, Thousand Units, USD Million, 2019-2030)
Companies Profiled
Unique Offerings 
