The global electric rice cooker market size is expected to
reach USD 1.1 billion by 2025, expanding at a CAGR of 7.5%, according to a new
report by Grand View Research, Inc. Introduction of smart cooker with Wi-Fi
connectivity and easy to read touch panel is expected to be a key factor for promoting
the market for electric rice cooker over the forecast period. Additionally,
increasing number of nuclear families on a global level is expected to play
crucial role in product promotion. Moreover, increasing product visibility
through the establishment of new electronic hypermarkets in developing
countries such as Brazil, China, and India is expected to remain a key driving
factor over the forecast period.
The household segment held
leading market share in 2018 owing to shifting consumer inclination towards the
energy efficient cooking appliances including connected rice cooker. Growing
middle class population coupled with rising disposable income in countries such
as India and China is expected to fuel demand for convenient appliances such as
electric rice cooker in upcoming years. Moreover, increasing interest in
high-end products including cooking appliances, which can connect with Wi-Fi,
Smart Home, and virtual assistance are expected to have positive impact on the
market. However, the commercial segment is anticipated to expand at fastest
CAGR of 7.6% from 2019 to 2025. Introduction of innovative products with
improved design and larger cooking capacity is the key factor fueling adoption
of these cookers in the commercial segment.
The offline segment held
the largest market share close to 70% in 2018.The increased number of retail
stores, especially in emerging economies such as India, China, and Brazil, is
expected to boost product sales through offline stores. In addition, the strong
presence of major international companies in emerging markets including China
and India through newly established strategic business units is expected to
promote segment growth. For instance, in February 2018, Xiaomi inaugurated its
first Mi Home Experience Store in India for showcasing the company’s products
including Xiaomi luggage and an electric smart rice cooker.
North America accounted
for a revenue share of more than 10% of the global revenue in 2018. Strong
foothold of advanced household appliance brands in U.S. is likely to remain a
key driving factor for the industry. Furthermore, U.S. is expected to witness
significant gains in terms of rising importance of connected appliances on a
domestic level.
For full research report on Electric Rice Cooker Market visit here:
https://www.grandviewresearch.com/industry-analysis/electric-rice-cooker-market
Further key findings from the report
suggest:
- The standard product segment held leading electric rice cooker
market share in 2018 attributed to easy product handling and low
maintenance at affordable price
- The online channel segment is expected to witness fastest growth at
a CAGR of 7.9% from 2019 to 2025 as a result of increasing importance of
e-commerce channels for providing extra add-on benefits including
discounts and free home delivery
- The market revenue from Asia Pacific accounted the largest share of
more than 60% in 2018
- Product innovation is expected to be a key success factor among the
industry participants over the next few years.
Get request sample of this report
here: https://www.grandviewresearch.com/industry-analysis/electric-rice-cooker-market/request/rs1
Grand View Research has segmented the global electric
rice cooker market on the basis of product, application, distribution channel,
and region:
Electric Rice Cooker Product Outlook
(Revenue, USD Million, 2015 - 2025)
- Standard
- Multifunctional
- Induction
- Others
Electric Rice Cooker Application
Outlook (Revenue, USD Million, 2015 - 2025)
- Household
- Commercial
Electric Rice Cooker Distribution
Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Offline
- Online
Electric Rice Cooker Regional Outlook
(Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- France
- Belgium
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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