Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Electric Rice Cooker Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Electric Rice Cooker Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Electric
Rice Cooker Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Electric Rice Cooker Market is offered. In accordance with the report, the global
Electric Rice Cooker Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Electric
rice cooker is an electronic kitchen appliance that is used for automating the
process of cooking rice. Thermostats are used for controlling electric rice
cookers that keeps track and controls the temperature and heat of the cooking
vessels. Almost all sorts of grains, varieties of rice, polenta, oatmeal stews,
soups and vegetables can be cooked with the help of advanced electric rice
cookers. In the market, rice cookers are available in both automatic and
non-automatic types.
Market Drivers
The primary
factor fueling the rising demand for rice cookers are the hectic lifestyle of
the today’s population. The upsurge in the number of working professionals is
lowering the time available to them to spend in household kitchens which is
pushing them to avail devices that prepares food in minimum time. The spurring
nucleated families and soaring female participation in the working force is
driving the electric rice cooker market.
Environmental
concerns are bolstering the electric rice cooker market to some extent. With
the depletion of non-renewable natural resources and the consequent rise in
fuel prices, consumers are increasingly inclining towards the adoption of more
energy-efficient solutions. Electric rice cookers are energy-efficient and
helps to do away with the problem of skyrocketing gas prices.
The
convenience associated with the use of rice cookers in cooking rice is
propelling the growth of this market significantly. Electric rice cookers
enable uniform cooking that does not led to overcooking or undercooking of the
food. Moreover, these appliances work on itself. The user need not supervise
from time to time as in the case of traditional cooking methods. Further, they
are non-sticky which is empowering the growth of the electric rice cooker market.
The
rising infrastructural development and technological advancement that has led
to the development of smart city, smart home and smart systems project
complementary to the development of interior décor are indirectly e=augmenting
the growth of the electric rice cooker market.
Market Restraints
The
maintenance of electric rice cookers is not an easy task. Cleaning the product
involves cleaning the bowl, inner lid and steaming vent that is very
problematic. This factor is swaying away consumers and disrupting the growth of
this market.
The
performance of rice cookers varies with the ingredient like the types of rice
and pulses and even sometimes with the model. Not all models are capable of
cooking brown rice. The lower layer of the ingredient, rice sometimes remains
fluffy, sometimes sticky and sometimes form a crust. These factors are impeding
the consumers attainment of satisfaction.
Further,
electric rice cookers are off immoderate price thereby hindering the growth of
the electric rice cooker market.
Opportunities
Rapid
technological advancement and its implementation on the electronic industry has
led to development of advanced products and diversified product portfolio. The
incorporation of AI, sensors, and Internet of Things in electric rice cookers
are expected to open up new avenues for this market.
Further,
the increasingly tight schedule of the working population, dipping down of
leisure time of the consumers, growth of middle-class population and
environmental concerns are likely to help the electric rice cooker market to
thrive.
Trends
The
Asia Pacific region dominates the market for electric rice cooker and is
expected to continue its domination in the forecast period for a variety of
reason. The nations like India, China, Japan and Indonesia consumes rice as a
staple food which is basically driving the demand for rice cookers. Economic
development of this regions and the increasing participation of the population
in the working class of the region are some major factors determining the demand
for electric rice cookers in this region. The Europe region is estimated to
showcase significant growth in this market owing to the presence of some of the
leading players of this market in the region and increasing knowledge among the
consumers with regard to the benefits of utilizing such advanced cooking
appliances. Globally, this market is projected to register a CAGR of 6.8% in
the forecast period.
Segment Covered:
This market
intelligence report on the global Electric Rice Cooker Market encompasses market segments based on product, application,
distributional channel and country.
By
Product the global Electric Rice Cooker Market has been divided into:
q Induction
q Multi-Functional
q Standard
q Others
By Application the global Electric
Rice Cooker Market has been divided into:
q Commercial
q Households
By Distributional Channel the global Electric
Rice Cooker Market has been divided into:
q Online
q Offline
By country/region,
the global Electric Rice Cooker Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q AB
Electrolux
q Panasonic
Corporation
q Xiaomi
q Toshiba
Corporation
q Conair
Corporation
q TTK
Prestige Ltd
q Sunbeam
Products Inc
q Bajaj
Electricals Ltd
q Ali
Group Srl
q Newell
Brands
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Electric Rice Cooker Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
AB Electrolux
In February
2017, an announcement was made by AB Electrolux with regard to the acquisition
of Anova, the provider of Anova Precision Cooker.
Panasonic Corporation
In September
2018, Panasonic Corporation celebrated the 30th anniversary of rice
cooker business in the Indian market.
Xiaomi
In April 2019,
the launch of Mijia Smart Rice Cooker in India was announced by Xiaomi. Apart
from regular rice, this rice cooker was capable of cooking biryani, pastas,
burgers and pizzas.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Electric
Rice Cooker Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Electric Rice Cooker Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Electric Rice Cooker caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Electric
Rice Cooker Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Electric Rice Cooker Market
v
Identification
of key factors driving investment opportunities in the Electric Rice
Cooker Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants