Electric Rice Cooker Market to grow with a CAGR of 6.8 % from 2019 to 2026| AB Electrolux, Panasonic Corporation, Groupe SEB, Breville Group, TTK Prestige Ltd

Electric rice cooker has been majorly used by the consumers who have rice as a part of their staple food. It significantly reduces the cooking time and requires fewer manual interventions compared to conventional gas based rice cookers. The global electric rice cooker market was valued at $3.2 billion in 2018 and is anticipated to reach $5.5 billion by 2026, with a CAGR of 6.8% during the forecast period. Automatic electric rice cookerare preferred over non-automatic electric rice cooker as they have programming which enables cooker to cook the rice or rice products with the least manual interventions. Consumers have been using the electric rice cooker for preparing various rice specialties along with other food products such as grains and lentils.

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Consumer inclination toward buying the appliances or products that are comforting and fit for fast-paced life is a major trend in the developing economies. Moreover, rise in disposable incomes in emerging economies such as China, Brazil, and India,has led to increased spending on time-saving and effort-saving electric rice cooker products. Consumers are not willing to spend much time on preparation of food; hence, they opt for convenience over price. Due to ongoing redefinition of gender roles in developing economies, rise in number of working women in the industry, further supplements the demand for electric rice cooker.Furthermore, rising prices of cooking gas in the past have led consumers to focus on the electrical kitchen appliances than gas-based kitchen appliances.

Electric rice cooker has multiple advantages over gas-based rice cooker in terms of uniformity of cooking, efficiency, and convenience, which has been driving the market in the past. With advancement of the technologies, the manufacturers areprojected to come up with smart electric rice cookers to have an edge over the competition owing to the growing demand for smart appliances in the market. This also offers opportunities for manufacturers to offer innovative products to gain higher market share in the future.

The electric rice cooker market is segmented on the basis of end user, distribution channel, and region. By end user, it is categorized into household and commercial. By distribution channel, it is divided into supermarket/hypermarket, specialty stores, e commerce, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (the Middle East, Latin America, and Africa).

The key players profiled in this report include AB Electrolux, Panasonic Corporation, Groupe SEB, Breville Group, TTK Prestige Ltd, Bajaj Electricals Limited, Koninklijke Philips N.V., Ali Group Srl, Wonderchef Home Appliances Pvt. Ltd., and Newell Brands (Oster).
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KEY BENEFITS FOR STAKEHOLDERS
o The study provides an in-depth analysis of the global electric rice cooker market, with current and future trends to elucidate the imminent investment pockets in the market.
o Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
o The report provides information regarding drivers, restraints, and opportunities with impact analysis.
o A quantitative analysis of the current market and estimation for the same from 2018 to 2026 is provided to showcase the financial competency of the market.
o Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as, threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
o Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
o Competitive landscape highlights the business practices followed by the leading market players across various regions.

KEY MARKET SEGMENTATION
o By End User
o Household
o Commercial

o By Distribution channel
o Supermarket/Hypermarket
o Specialty stores
o E commerce
o Others

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