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Electric Rice Cooker Market Growth to Propel Based on High Demand For Electronic Appliance For Cooking in Order to Reduce Power And Energy Consumption Till 2025 | Million Insights

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Electric Rice Cooker Market Growth to Propel Based on High Demand For Electronic Appliance For Cooking in Order to Reduce Power And Energy Consumption Till 2025 | Million Insights

October 05
08:20 2020
Electric Rice Cooker Market Growth to Propel Based on High Demand For Electronic Appliance For Cooking in Order to Reduce Power And Energy Consumption Till 2025 | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global electric rice cooker industry report provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Electric Rice Cooker Market is segmented by types, manufacturers, applications and regions.

The global Electric Rice Cooker Market size is expected to register a revenue of USD 1.1 billion by the end of 2025, according to a new report released by Million Insights. It is expected to grow with a CAGR of 7.5% over the forecast period. This growth can be attributed to rising demand for electronic appliance for cooking in order to reduce power and energy consumption.

Moreover, increasing number of nuclear families coupled with rising working population has paved the way for market growth for such products. For example, Xiaomi launched Wi-Fi operated Induction cooker in 2016 which could help in cooking rice with more than 2000 methods.

The household application segment held the highest share across the global market in 2018 owing to rising inclination for energy-efficient and convenient cooking electronic appliances. The commercial segment is anticipated to register the highest CAGR of 7.6% from 2019 to 2025. This can be attributed to increasing number of restaurants and hotels across the globe. In addition, stringent rules being implemented by statutory governing bodies for usage of gas connections have paved way for the market growth for such products.

To download the sample pdf of Electric Rice Cooker Market Report “Please” click here https://www.millioninsights.com/industry-reports/global-electric-rice-cooker-market/request-sample

The standard electric cooker product segment held the largest share exceeding 60% across the global market due to salient features like ease of handling and low operational and maintenance cost. The multifunctional electric cookers segment is expected to register significant growth with a CAGR of 8.3% from 2019 to 2025 owing to its multifunctional usage for processes like baking, boiling, steaming and baking and its technologically advanced features.

Asia Pacific held the largest share exceeding 58% across the global electric rice cooker market in 2018 due to the fact that many countries like India, China, and Japan have rice as their staple food. Moreover, rising population, increasing disposable income has paved way for the market growth for these products. Europe is expected to witness a CAGR of 7.9% during the forecasted years.

The key players in the market of electric rice cooker are Toshiba Corporation; Panasonic; Cusinart; Philips; Bajaj Electricals; and Tiger Corporation. They are engaged in product development and innovation to boost the sales of their products. These cookers find several applications on occasions like picnic, travel, regular cooking, and office.

To browse report summary & detailed TOC, “please” click the link below:
https://www.millioninsights.com/industry-reports/global-electric-rice-cooker-market

Further key findings from the report suggest:

• The offline segment of distribution channel held the highest share of 70% across the global market.

• Asia Pacific held the highest share of around 60% in 2018 across the global electric rice cooker market.

• The multifunctional electric cookers segment is expected to register significant growth with a CAGR of 8.3% from 2019 to 2025.

• The online distribution channel is anticipated to register the highest CAGR of 7.9% during the forecasted period.

Million Insights has segmented the global electric rice cooker market on the basis of product, application, distribution channel, and region:

Electric Rice Cooker Product Outlook (Revenue, USD Million, 2015 – 2025)
    • Standard
    • Multifunctional
    • Induction
    • Others

Electric Rice Cooker Application Outlook (Revenue, USD Million, 2015 – 2025)
    • Household
    • Commercial

Electric Rice Cooker Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
    • Offline
    • Online

Electric Rice Cooker Regional Outlook (Revenue, USD Million, 2015 – 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • France
        • Belgium
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa

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About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

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