Electric Rice Cooker Market Size, Growth Drivers, Rising Trends, Challenges, Revenue Demand, Key Players and Forecast Analysis till 2034: SPER Market Research
Electric Rice Cooker Market
Rice preparation is easier with electric rice cookers, which need less attention than traditional methods. They prevent rice from burning or undercooking. Convenience is especially important for busy households, as cooking on the stove requires constant attention, including monitoring the water, stirring, and adjusting heat. Electric rice cookers eliminate this need by automatically adjusting temperature and turning off when the rice is ready. This hands-free approach is useful for those who cannot watch a pot. They provide a reliable way to cook tasty rice and other meals without stress, contributing to the popularity of electric rice cookers among busy people wanting healthy meals.
According to SPER market research, ‘Global Electric Rice Cooker Market Size- By Product, By Application, By Distribution Channel, By Capacity – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Electric Rice Cooker Market is predicted to reach 8.97 billion by 2034 with a CAGR of 18.16%.
Drivers: The manufacturers of electric rice cookers are focusing on new technologies and research to broaden their products, improve designs, and meet modern consumer needs. These advanced rice cookers have features like touch buttons, auto keep warm, timers, multi-function cooking settings, auto safety, and auto-off functions. These innovations serve both home and professional cooking, helping to grow the customer base and develop the market.
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Restraints: The exorbitant prices and rising popularity of electric rice cookers have resulted in the rise of counterfeit items. Counterfeit brands are common in developing countries where clients are very price-sensitive. Counterfeiting and its effects on enterprises and customer perception have led to direct and indirect revenue and job losses in the industry. As a result, the presence of counterfeit items in the market undermines both the brand and the product image, which is projected to limit the growth of the electric rice cooker market.
Global Electric Rice Cooker Market Key Players:
Asia Pacific electric rice cooker market led the market with a big share in 2024. Rice is a key part of diets in countries like Japan, China, India, and South Korea. Customers want more features in these appliances. Manufacturers are innovating with smart cookers, multifunctional cookers, and compact designs. The growing population in the region offers more market potential for these cookers. Some significant market players are Charles River Laboratories, VGXI, Inc, Danaher (Aldevron), Kaneka Corp, Nature Technology, Cell and Gene Therapy Catapult, TTK Prestige Ltd, Wonderchef Home Appliances Pvt. Ltd, Koninklijke Philips N.V, Breville Pty Ltd, and others.
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