Electric Rice Cooker Market Analysis

Electric Rice Cooker Market Analysis

To get key market trends

  Download Free Sample

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.