Online Channel to Witness Fastest Growth Rate in the Electric Rice Cooker Market
Demand for energy
efficient products along with the variety of cooking functions in electric rice
cookers offered by market players to drive the global electric rice cooker
market during the projected period.
According to
TechSci Research report, “Electric Rice Cooker Market – Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”. The electric rice cooker market
is projected to grow at impressive rate through 2028 on account of increased
government initiatives prohibiting the use of gas connections in densely
populated commercial areas. Better cooking programs and heating provided by the
3D heating mode, low maintenance and monitoring requirements, growing needs of
smart appliances, and
increasing awareness of energy efficiency products. Additionally, as more and
more women enter the workforce, consumer purchasing patterns have changed and
online shopping platforms are becoming more and more popular.
The growing importance of energy-saving appliances like induction heat
electric rice cookers and multifunction electric rice cookers, which shorten
the time needed to complete household activities, is one of the major drivers
projected to drive the market over the next few years. And a multi-function culinary
programmed that includes functions for creating soups, steaming, cooking
different kinds of rice, etc. Additionally, there are more and more
professional women and a hectic lifestyle for the wife and husband, which
leaves them with less time to do everyday household tasks. Therefore, these
devices increase employee productivity and self-saving time.
Due to its little maintenance and monitoring requirements, the
commercial electric rice cooker market is predicted to expand. Furthermore, the
government regulations that forbid the use of gas connections in commercial
areas with high populations will also encourage an increase in the demand for
electric rice cookers for commercial use.
The need for additional high-end household products among consumers is
encouraging manufacturers to release new products. such as customizable
settings, a portable design, 3D heating technology, a nonstick inner frying
pan, and an LCD display with timer. For example, TTK Prestige offering a smart electric
rice cooker, and Zojirushi American Corporation provide a micro computerized
fuzzy logic system.
The online channel is
experiencing the fastest growth rate as it offers different products on a
single platform with their description, details, brand, specification, etc.,
giving merchants an alternative to the conventional store.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Global ElectricRice Cooker Market."
The Electric Rice Cooker
Market is segmented based on the product type, capacity, end use, distribution
channel and region. The product type segment is divided into standard,
multifunction & induction heat. Based on capacity, the market is divided
into the Less Than 2 Litre, 2 Litre – 4 Litre and More Than 4 Litre. Based on
end use, the segment further divided into residential vs commercial. The
distribution channel segment is divided into supermarkets/hypermarkets,
specialty stores, multi-branded stores, online, exclusive stores & others
(direct sales, distributors & dealers). The online segment's growth is
anticipated to be boosted by several factors, including an increase in internet
users, multi-functional features, and the penetration of e-commerce platforms.
Additionally, features like product comparison, thorough product descriptions,
and simple exchange and refund options are helping customers feel at ease with
online shopping and increasing sales.
Key market players in the Electric
Rice Cooker Market include:
- Midea Group Co., Ltd.
- Panasonic Corporation
- Group SEB
- Breville Group
- Zojirushi America
Corporation
- Koninklijke Philips N.V.
- TTK Prestige Limited
- AB Electrolux
- Newell Brands, Inc
- Aroma Housewares Company
Due to shifting consumer demands, kitchen appliance producers are now
able to experiment with novel product designs. They might expand their market
reach and clientele by adopting a product expansion strategy. Additionally, the
manufacturing businesses are focusing on offering multifunctionality features
in electric rice cookers in a different range of capacities to accommodate home
and commercial usage. For instance, multifunction electric rice cookers are
offered from different companies like Panasonic Corporation, Zojirushi America
Corporation, Group SEB, Breville Group, and Midea Group.
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Product innovation is a
significant trend that is expected to have an impact on growth over the
forecasted period. Electric rice cookers regulate the cooking of rice by
electrically adjusting heat and timing. Additionally, it has several cooking programs
that enable the creation of a variety of dishes, including grains, various
kinds of rice, oatmeal, and hot cereal, steaming vegetables, and cooking soups
and stews. This is one of the key explanations for why they are a well-liked
piece of kitchenware. The market is expanding because there are a variety of
products available to fulfil different needs related to capacity and the size
of the family, as well as because the internet channel is becoming more and
more well-liked.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
Electric Rice Cooker
Market,
By
Product Type (Standard, Multifunction & Induction Heat), By Capacity (Less
Than 2 Litre, 2 Litre – 4 Litre and More Than 4 Litre), By End Use (Residential
Vs. Commercial), By Distribution Channel (Supermarkets/Hypermarkets, Specialty
Stores, Multi-Branded Stores, Online, Exclusive Stores & Others (Direct
Sales, Distributors & Dealers)), By Region (North America, Europe, Asia-Pacific,
Middle East & Africa, South America), Competition, Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of electric rice
cooker and provides statistics and information on
market structure, size, share, and future growth. The report is intended to
provide cutting-edge market intelligence and help decision-makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
present in electric rice cooker globally.
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