Electric Rice Cooker Market: Market Entry Strategies for New Players

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Electric Rice Cooker Market Market Size, Trends,
and Forecast 2024-2032
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• Industry Insights

• Electric rice cooker market size is slated to
  expand at over 5.8 CAGR from 2024 to 2032,
  driven by the rising popularity of rice-based
  diets, particularly in Asian countries.
• The emergence of busy lifestyles across the globe
  is driving the increasing adoption of convenient
  kitchen appliances. With large number of
  consumers seeking convenience and sustainability,
  the need for energy-efficient and time-saving
  features has also garnered significant attention.
• Moreover, the rising focus on innovations is
  spurring the introduction of smart, programmable
  rice cookers with advanced functionalities.
• For instance, in June 2024, Tiger Corporation
  unveiled the 100th-anniversary commemorative
  edition of the TIGER COOKPOT COK-A220 electric
  pressure cooker. The growing awareness of
  health-conscious cooking and the incorporation of
  multi-cooking functions in appliances will also
  ensure promising future for the industry growth.

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• Based on type, the market share from the
  multifunctional electric rice cooker segment is
  projected to increase at rapid pace by 2032,
  owing to the rising consumer demand for versatile
  kitchen appliances.
• The increasing interest in one-pot cooking,
  time-saving convenience along with the ability to
  prepare variety of dishes beyond rice will drive
  the product demand.
• In terms of volume, the medium-volume segment of
  the electric rice cooker market will exhibit
  substantial CAGR during the forecast period.
• This is owing to the increasing number of
  households with moderate rice consumption and the
  subsequent need to balance capacity and size.
• Based on end-user, the industry value from
  residential end-use segment is estimated to grow
  at a rapid pace through 2032.
• The growth can be attributed to the rising need
  for catering to the needs of small households.
  The provision to convenience, time-saving, and
  energy-efficient features offered by electric
  cookers will also add to the segment growth.

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• Regional Analysis

• Regionally, the Asia Pacific electric rice cooker
  industry is set to expand at robust CAGR by 2032,
  driven by the strong rice-based diet traditions,
  increasing urbanization, busy lifestyles, and the
  growing middle-class population in the region.
  The rising disposable incomes along with growing
  preference for convenient cooking appliances will
  also push the regional market expansion.

• Competitive Analysis

• Aroma Housewares Company
• Black Decker
• Breville Group Limited
• Cuckoo Electronics Company
• Electrolux AB
• Hamilton Holdings Company
• Hitachi Limited
• Koninklijke Philips NV
• Midea Group Company

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