The global electric rice cooker market was valued at USD 685.2 million in 2018. Shifting consumer inclination towards energy-efficient cooking appliances such as electric rice cookers is expected to be a key driving factor for market growth over the forecast period. For instance, according to the Journal of Food Engineering, electric rice cookers are considered to be the most energy-efficient cooking appliance, which consumes 23% to 57% less energy as compared to other conventional cooking appliances.
New launches of innovative products are expected to increase product visibility among consumers over the next few years. For instance, in March 2016, Xiaomi introduced a Wi-Fi induction rice cooker under its brand MIJIA. This Xiaomi Induction Heating Pressure Rice Cooker allows the users to change the softness of their rice through the MIJIA app, which offers 2000+ different heating methods as compared to traditional appliances.
An increase in the number of nuclear families along with the improvement in living standards in emerging markets, including China and India, is expected to remain a key factor for industry growth. Furthermore, the increasing importance of energy-saving appliances such as induction cooktops and electric rice cookers in order to trim household spending is expected to be one of the crucial factors that will drive market growth over the next few years.
The shifting focus of leading players on innovation to have a competitive advantage in the industry has led to the introduction of connected cooking appliances. Over the past few years, connected cooking has gained popularity as it involves the interconnection of rice cookers through the utilization of the Internet of Things (IoT), facilitating minimal intervention by remote control.
Changes in buyers’ preferences have paved way for kitchen appliance manufacturing firms to experiment with product designs. These products allow cooking appliance manufacturers to expand their portfolios and more effectively cater to the rising requirements of customers. Product expansion strategy allows them to acquire a larger customer bases and expand their industry reach. Moreover, the manufacturing firms are focusing on offering multi-functionality attributes associated with an electric rice cooker in different capacities from small to extra-large in order to suit household and commercial applications. For instance, the Tayama rice cooker comes with a removable interior, which makes washing and storing easy.
In addition to basic cooking features, many electric rice cookers offer a variety of other features that improve convenience and efficiency. For example, some models include pre-programmed cooking modes that are optimized for different types of rice, such as white rice, brown rice, or sushi rice. Some models also have sensors that can detect when the rice is fully cooked and automatically switch to a keep-warm mode, maintaining the perfect temperature until it is time to serve, eliminating the need for reheating and preserving the quality of the rice.
Some electric rice cookers also come with additional features that make them a versatile kitchen appliance for healthy cooking. For instance, some models include a steaming tray that allows users to steam vegetables and other foods while cooking rice, making it a one-pot meal option that is both nutritious and convenient. In addition, some models come with settings for cooking other grains, such as quinoa or oatmeal, further expanding the range of healthy foods that can be cooked with an electric rice cooker. Such product features, innovations, and new product developments by key market players are expected to drive market growth during the forecast period.
Household use dominated the market with a share of over 72% in 2018. Shifting consumer inclination towards convenient and energy-efficient cooking appliances is projected to be a key factor for market growth in the household category.
Market participants such as Toshiba Corporation, Zojirushi America Corporation, Aroma, Cuckoo, and Hamilton have introduced electric cookers with innovative design and features such as anti-rust proof, anti-finger mark, and anti-scratch coat. Additionally, these products are available in a compact size and occupy less space, which offers easy handling and storage. The launch of technologically advanced products with improved aesthetics is expected to fuel the demand for residential electric rice cookers in the coming years. For instance, TFAIR’s HTF-3005 1.3L multipurpose rice cooker acts as a portable cooker which can be used in the kitchen and can be carried to the office as a tiffin box.
Demand in commercial applications is expected to grow at a CAGR of 7.6% from 2019 to 2025. The introduction of larger automatic rice cookers with a 3D heating mode facility is one of the prominent factors driving electric rice cooker demand in this segment. The 3D heating mode ensures uniform heating and better cooking. These electric cookers are projected to gain importance in commercial spaces such as hotels and restaurants as they require minimal monitoring and maintenance. Additionally, government regulations against the usage of gas connections in highly populated commercial areas will support electric rice cooker demand growth for commercial use.
Offline sales accounted for a revenue share of around 70% in 2018. Most consumers still prefer buying these electric products from physical stores over e-commerce. According to authentic sources, over 50% of Americans prefer buying products in stores. Additionally, a rising number of retail stores, especially in emerging markets like India, China, and Brazil, is expected to expand the visibility of these electrical appliances through offline channels.
Online sales are expected to grow at a CAGR of 7.9% from 2019 to 2025. The availability of free home-delivery service by major brands is the foremost reason driving online demand. Moreover, the increasing popularity of online retailers such as Amazon, Flipkart, and eBay, along with the rising usage of smartphones and other similar devices is expected to propel sales of these appliances through online channels over the coming years.
Standard products accounted for the largest revenue share of over 60% in 2018. This dominance is attributed to the fact that standard rice cookers offer easy handling and low maintenance at affordable prices. Introduction of innovative products with improved designs and features, including microwave and dishwasher safe properties, steaming basket, and warm settings, are expected to increase the demand for standard electric rice cooker variants.
Demand for multifunctional cookers is expected to grow at a CAGR of 8.3% from 2019 to 2025. A typical multifunctional rice cooker finds its utility in various functions including boiling, baking, stewing, and steaming. Easy to use LCD displays, coupled with the availability of innovative features such as built-in count down timers, programmable setting, detachable power cord for convenient portability, and removable interiors for better washing and storage of food, are the key factors driving segment growth. Established players are focusing on R&D to incorporate more functionalities in order to make it more convenient for consumers; for instance, Instant Pot introduced DUO60 7-in-1 6 Quart cooker which acts as a pressure cooker, slow cooker, rice cooker, steamer, yogurt maker, and a warmer.
Asia Pacific dominated the market with a revenue share of nearly 60% in 2018. Rice being the staple food in most of the countries such as China, India, Indonesia, and Japan is an important parameter for market growth in this region. Additionally, the growing working population in countries such as China and India, along with their inclination to purchase premium products, is expected to drive market growth over the forecast period.
Product sales in Europe are expected to grow at a CAGR of 7.9% from 2019 to 2025. The presence of well-established cooking appliances brands in Europe, coupled with rising consumer awareness towards the utility of cooking appliances with low emission, is expected to increase product demand in this region over the forecast period.
Key market participants include Panasonic; Toshiba Corporation; Zojirushi America Corporation; Cuisinart; Bajaj Electricals; Philips; Tiger Corporation; Cuisinart; Sunbeam Products Inc.; and Aroma Housewares Company. Over the past few years, competitors are investing in product innovation in order to gain a competitive advantage. For instance, in 2017, Hi-Tech launched a multi-programmable mini cooker with a delay timer setting, which allows users to delay the starting time of the cooker in order to cook later. This product is designed for various occasions such as travel, office, baby food, picnic, and regular cooking.
In June 2023, Tiger Corporation announced the launch of Jar Rice Cooker JNP-T055 for the 100th anniversary of Tiger Corporation. This rice cooker is designed to cook white rice exclusively and has a compact & easy storage system.
In April 2023, Cuckoo Electronics Co., Ltd. announced the launch of 5-Quart Standard Multi-Pressure Cooker (CMCQAB501S), equipped with functions that can steam, stew, pressure cook, boil, slow cook, or sauté a range of dishes that can be made with a choice of pressure or no pressure.
Base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2025
Revenue in USD Million and CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
The U.S., France, The U.K., Belgium, China, India, Brazil
Revenue forecast, company share, competitive landscape, and growth factors and trends
15% free customization scope (equivalent to 5 analyst working days)
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global electric rice cooker market report based on the product, application, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2015 - 2025)
Application Outlook (Revenue, USD Million, 2015 - 2025)
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Regional Outlook (Revenue, USD Million, 2015 - 2025)
Central & South America
Middle East & Africa
b. The global electric rice cooker market size was estimated at USD 736.5 Million in 2019 and is expected to reach USD 791.8 Million in 2020.
b. The global electric rice cooker market is expected to grow at a compound annual growth rate of 7.5% from 2019 to 2025 to reach USD 1,136.7 Million by 2025.
b. Asia Pacific dominated the electric rice cooker market with a share of 60.3% in 2019. This is attributable to rising demand of rice in the countries such as China, India, Indonesia, and Japan, is an important parameter for the growth of the market for electric rice cooker in this region.
b. Some key players operating in the electric rice cooker market include Panasonic; Toshiba Corporation; Zojirushi America Corporation; Cusinart; Bajaj Electricals; Philips; Tiger Corporation; Cusinart; Sunbeam Products Inc.; and Aroma Housewares Company
b. Key factors that are driving the market growth include shifting consumer inclination towards the energy efficient cooking appliances over other conventional appliances is driving the growth of this product.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. Contact us now
"The quality of research they have done for us has been excellent."