Electric Rice Cooker Market, By Volume (Low, Medium, Large), By Type (Standard/Basic Cooker, Multifunctional Cooker), By End Users, By Distribution Channel Forecast 2024 – 2032

Electric Rice Cooker Market Size

Electric Rice Cooker Market was valued at approximately USD 3.5 billion in 2023 and is anticipated to register a CAGR of 5.8% between 2024 and 2032. Rice preparation is made easier with electric rice cookers. They require less attention than other methods and remove the possibility of rice burning or undercooking. Convenience is a key motivator, particularly for homes with active members.
 

Rice cooked using traditional hob methods needs to be constantly watched over. You must monitor for the water to boil away, stir from time to time, and regulate the heat. All of that watching over is eliminated with electric rice cookers. The rice cooker is designed to automatically adjust the temperature and turn off when the rice is cooked to perfection. For individuals who are too busy to stand over a pot, this hands-free method is invaluable. For uniform and constant rice cooking, they use automatic temperature controls.
 

Additionally, Electric rice cookers offer a simple and reliable way to cook delicious rice and other dishes without the hassle or stress. This focus on convenience is a major driver for the growth of the electric rice cooker market, making them a popular choice for busy people who still want to enjoy delicious and healthy meals.
 

As, multicookers offer a wider range of functionalities beyond rice cooking, including pressure cooking, baking, and yogurt making. This versatility can overshadow electric rice cookers, especially for consumers seeking a single appliance for multiple cooking needs.
 

The core function of an electric rice cooker is cooking rice and it hasn't undergone major changes. While some models offer features like brown rice settings or pre-programmed options, they might not be perceived as innovative compared to the multicooker's ever-expanding capabilities. This can make rice cookers seem outdated, especially for younger generations or those seeking the latest technology in their kitchens.
 

Electric Rice Cooker Market Trends

Some rice cookers are incorporating Wi-Fi or Bluetooth connectivity, allowing users to control and monitor the cooking process remotely through their smartphones. Imagine starting the rice cooker on your way home or checking its progress while relaxing on the couch.
 

Some smart rice cookers allow you to adjust cooking settings remotely, customizing the process for different rice types or desired textures. This level of control caters to those who prefer a more personalized experience with their rice dishes. It offers convenience, personalization, and potential integration with smart homes, catering to a growing segment of tech-savvy consumers who value a more connected kitchen experience.
 

Electric Rice Cooker Market Analysis

Based on volume, the market is segmented into low, medium and large. The Medium (4-6 Cups) segment held the maximum share in the market with revenue of USD 1.7 Billion in 2023, which is anticipated to grow at a CAGR of 6.1% during the forecast timeframe.
 

A medium volume electric rice cooker typically falls within the range of 3 to 5 cups (uncooked rice) capacity. This translates to roughly 6 to 10 cups of cooked rice, depending on the type of rice and water absorption ratio.
 

Based on Type, the market is segmented into standard/basic cooker and multifunctional cooker. The standard/basic cooker segment held 71.4% of the total market share in 2023 and is anticipated to grow at a CAGR of 5.6% during the forecast period.
 

The standard basic cooker is the workhorse of the electric rice cooker market. These no-frills models prioritize affordability and simplicity. They typically have a medium capacity (3-5 cups uncooked rice), perfect for small households or those who cook rice occasionally.
 

The Asia Pacific market was valued at around USD 1.6 Billion in 2023 and is anticipated to register a CAGR of 6.4% between 2024 and 2032.
 

The Asia Pacific region reigns supreme in the electric rice cooker industry. Since rice is a staple food in many Asian countries. This region has the highest demand and sales of rice cookers globally, driven by factors like convenience, rising disposable income, and a large population accustomed to cooking rice regularly.
 

North America: In terms of country, the U.S. dominated the electric rice cooker market with a revenue of around USD 508.6 million in 2023 and is expected to reach around USD 775.4 million by 2032. In the U.S., the market is driven by increasing consumer demand for convenient and time saving kitchen appliances and this demand is amplified by a growing multicultural population where rice is a staple.
 

In Canada the electric rice cooker industry exhibits similar dynamics to that of the US with a multicultural population driving the demand for rice cookers. Canadian consumers prefer high quality durable and multifunctional kitchen appliances and there is an audible interest in energy efficient model due to rising energy cost and compact designs are popular particularly in the urban areas with smaller kitchens.
 

Europe: The European market steadily growing influenced by increasing consumer awareness and rising popularity. As more European consumers explore diverse culinary traditions the demand for convenient and specialised kitchen appliances like rice cookers has surged. Consumers are increasingly looking for high quality multifunctional and easy to use by appliances that can accommodate various cooking styles.
 

In Germany, the industry reflects the broader European trends but also has its unique characteristics. German consumers prioritise quality efficiency and durability in the kitchen appliances aligning with countries general preferences for high standards in product manufacturing and there is a growing interest in electric rice cooker due to the increasing popularity of home cooking and the influence of diverse culinary trends particularly from the Asian cuisine.
 

Asia Pacific: In terms of country, China electric rice cooker market is highly develop and dynamic reflecting the countries deep rooted culinary tradition that heavily relies on rice as a staple food. The demand for electric rice cooker is exceptionally high driven by the need for convenience and efficiency and cooking rice and other grains. Chinese consumers favour high tech feature rich models with capabilities known for their innovative products and strong local presence.
 

In India, the market is growing steadily as more consumers embrace the convenience and efficiency these appliances offer and traditionally rice has been cooked using stove top methods for the increasing adoption of electric rice cookers is changing the trend.
 

Electric Rice Cooker Market Share

Key players in the electric rice cooker industry are Panasonic Corporation, Breville Group Limited, Hamilton Holdings Company, Midea Group Company and Electrolux AB. Together these companies have a market share of 10%-15% of the total market with fierce competition in this market and driving continuous advancements and the introduction of new features to meet the evolving demands of tech savvy parents globally. These companies have a diverse range of products that integrate advanced technologies.
 

Electric Rice Cooker Market Companies

Major companies operating in the electric rice cooker industry include:

• Aroma Housewares Company
• Black & Decker
• Breville Group Limited
• Cuckoo Electronics Company
• Electrolux AB
• Hamilton Holdings Company
• Hitachi Limited
• Koninklijke Philips NV
• Midea Group Company
• Mitsubishi Electric Corporation
• Panasonic Corporation
• Tiger Corporation
• Toshiba Corporation
• Xiaomi Corporation
• Zojirushi Corporation
   

Electric Rice Cooker Industry News

• In March 2024, Zojirushi, leading brand in the market has recently introduced a new line of smart rice cookers featuring app connectivity and voice control capabilities.
   
• In November 2023, Panasonic corporation has announced plans to expand its production capacity for electric rice cookers in response to the increasing global demand particularly in Asia Pacific and North American region.
   
• In December 2023, Midea a major player in the Chinese home appliance market has launched a new series of eco-friendly electric rice cookers and these models are designed to reduce energy consumption and feature environmentally sustainable materials.
   

The electric rice cooker market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments:

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Market, By Volume

• Low (1-3 cups)
• Medium (4-6 cups)
• Large (7+ cups)

 Market, By Type

• Standard/basic cookers
• Multifunctional cookers

Market, By End Users

• Residential
• Commercial

Market, By Distribution Channel

• Online
• Offline

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• MEA
  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA