25 Jun
2019 - The Global Rice Cooker
Market is subject to witness a
substantial growth due to the increasing rice consumption in the both
underdeveloped and developing economies across the globe. Increasing import and
export activities in the Asia Pacific and African region is expected to foster
market growth over the forecast period. Increasing popularity of the rice
cookers market is attributed to its capability to cook rice evenly, keeping the
grain neither separate, undercooked nor overcooked. Globally, the market is
predicted to grow at a CAGR of 3.5% over the forecast period, providing
numerous opportunities for market players to invest in research and development
of the rice cooker market.
The
recent technological advancement and development of the novel products such as
electric rice cookers are expected fuel market demand over the upcoming years.
Additionally, excessive features such as measuring cups for the rice and
marking on the pots to quantify the amount of water required to cook rice are
expected to boost market demand for rice cookers in the near future.
The
electric cookers are easier to use with simple operation with variable
programing modes to allow cooking of different types of grains such as wild
rice, white rice, brown rice, oatmeal, and polenta. Furthermore, some rice
cookers comes with settings for cooking fish, vegetables, cooking stews and
soups. These advantages help in market expansion leading to a wider market
reach for rice cooker industry.
However,
factors such as lack of consistent performance to cook brown rice evenly and
long cooking time limits the market to a certain extent. Occasionally, the
lower layer of rice forms a crust, making rice less fluffy, and becoming
stickier. These factors substantially hampers popularity of the rice cooker.
Additionally, complex cleaning process and regular maintenance for electric
cookers are restraining market progress, in the recent years. In some cases,
additional cleaning is required involving the steaming vent and inner lid.
The
rice cookers market is broadly categorized into two major types based on the
product type such as electric rice cooker and gas rice cooker. The gas rice
cooker is considered as one of the fastest growing segment in the rice cooker
market with substantial revenue generation in the last couple of years. Growing
popularity of the gas rice cooker market segment is attributed to easy
availability and lower cost. Other factors such as increasing penetration in
the rural areas owing to the presence of vast chain of retail stores and
supermarket, thus driving market demand for gas rice cooker. The electric gas
cooker has also witnessed significant growth, in the recent years owing to the
portability, flexibility and minimum operating requirements.
The
rice cookers market is further divided into two major types based on end-users
applications such as household and commercial. The rice cookers market is
expanding at a remarkable pace owing to recent technological innovation, rising
competition in the market, and R&D activities in the industry.
The
rice cooker market is divided by region as North America, Europe, Asia-Pacific,
Latin America and Africa. North America has shown major growth in recent years
owing to the rise in the implementation of latest technologies and existence of
well-established manufacturing sector in the region. Asia-Pacific region is
predicted to hold major market share in the rice cooker market with massive
growth in forecast period.
Countries
such as India, China, South Korea, Japan, Indonesia and Singapore are leading
the Asia-Pacific market with increasing consummation of rice, strong economic
growth, rising per capita income, growing penetration in the rural areas, and
significant investment by leading industry players considering potential growth
opportunities in the region.
The
key players in the rice cooker market are Panasonic Co., Zhejiang Supor Co.,
Ltd., Midea Group, Matsushita Electric Industrial Company, Ltd., Koninklijke
Philips N.V., Nine Yang Ltd., SKG Electric Co., Ltd., Triangle Co., Toshiba
Co., Fuqua Companies LLC, Haier Group Co., TCL Co., Sanyo Electric Appliance
Co., Ltd., Konka Group Ltd., and LG Electronics, Inc.
Market Segment:
Key Products
•
Conventional Rice Cooker
•
Micom Rice Cooker
•
IH Rice Cooker
Key Regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
Key Vendors
•
CUCHEN
•
Cuckoo
•
Enaiter
•
Joyoung
•
Midea
•
Panasonic
Market Segment:
Key Applications
•
Packaging
•
Construction
•
Automotive
•
Consumer Goods
•
Appliances
Key Regions
•
North America
•
Europe
•
Asia Pacific
•
Middle East and Africa
•
South America
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