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A recent market intelligence report that is published by Data Insights Partner on the global Electric Rice Cooker Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Electric Rice Cooker Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Electric Rice Cooker Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Electric Rice Cooker Market is offered. In accordance with the report, the global Electric Rice Cooker Market is projected to expand by healthy CAGR over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Electric rice cooker is an electronic kitchen appliance that is used for automating the process of cooking rice. Thermostats are used for controlling electric rice cookers that keeps track and controls the temperature and heat of the cooking vessels. Almost all sorts of grains, varieties of rice, polenta, oatmeal stews, soups and vegetables can be cooked with the help of advanced electric rice cookers. In the market, rice cookers are available in both automatic and non-automatic types.
The primary factor fueling the rising demand for rice cookers are the hectic lifestyle of the today’s population. The upsurge in the number of working professionals is lowering the time available to them to spend in household kitchens which is pushing them to avail devices that prepares food in minimum time. The spurring nucleated families and soaring female participation in the working force is driving the electric rice cooker market.
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Environmental concerns are bolstering the electric rice cooker market to some extent. With the depletion of non-renewable natural resources and the consequent rise in fuel prices, consumers are increasingly inclining towards the adoption of more energy-efficient solutions. Electric rice cookers are energy-efficient and helps to do away with the problem of skyrocketing gas prices.
The convenience associated with the use of rice cookers in cooking rice is propelling the growth of this market significantly. Electric rice cookers enable uniform cooking that does not led to overcooking or undercooking of the food. Moreover, these appliances work on itself. The user need not supervise from time to time as in the case of traditional cooking methods. Further, they are non-sticky which is empowering the growth of the electric rice cooker market.
The rising infrastructural development and technological advancement that has led to the development of smart city, smart home and smart systems project complementary to the development of interior décor are indirectly e=augmenting the growth of the electric rice cooker market.
The maintenance of electric rice cookers is not an easy task. Cleaning the product involves cleaning the bowl, inner lid and steaming vent that is very problematic. This factor is swaying away consumers and disrupting the growth of this market.
The performance of rice cookers varies with the ingredient like the types of rice and pulses and even sometimes with the model. Not all models are capable of cooking brown rice. The lower layer of the ingredient, rice sometimes remains fluffy, sometimes sticky and sometimes form a crust. These factors are impeding the consumers attainment of satisfaction.
Further, electric rice cookers are off immoderate price thereby hindering the growth of the electric rice cooker market.
Rapid technological advancement and its implementation on the electronic industry has led to development of advanced products and diversified product portfolio. The incorporation of AI, sensors, and Internet of Things in electric rice cookers are expected to open up new avenues for this market.
Further, the increasingly tight schedule of the working population, dipping down of leisure time of the consumers, growth of middle-class population and environmental concerns are likely to help the electric rice cooker market to thrive.
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The Asia Pacific region dominates the market for electric rice cooker and is expected to continue its domination in the forecast period for a variety of reason. The nations like India, China, Japan and Indonesia consumes rice as a staple food which is basically driving the demand for rice cookers. Economic development of this regions and the increasing participation of the population in the working class of the region are some major factors determining the demand for electric rice cookers in this region. The Europe region is estimated to showcase significant growth in this market owing to the presence of some of the leading players of this market in the region and increasing knowledge among the consumers with regard to the benefits of utilizing such advanced cooking appliances. Globally, this market is projected to register a CAGR of 6.8% in the forecast period.
This market intelligence report on the global Electric Rice Cooker Market encompasses market segments based on product, application, distributional channel and country.
By Product the global Electric Rice Cooker Market has been divided into:
By Application the global Electric Rice Cooker Market has been divided into:
By Distributional Channel the global Electric Rice Cooker Market has been divided into:
By country/region, the global Electric Rice Cooker Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q AB Electrolux
q Panasonic Corporation
q Toshiba Corporation
q Conair Corporation
q TTK Prestige Ltd
q Sunbeam Products Inc
q Bajaj Electricals Ltd
q Ali Group Srl
q Newell Brands
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Electric Rice Cooker Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
In February 2017, an announcement was made by AB Electrolux with regard to the acquisition of Anova, the provider of Anova Precision Cooker.
In September 2018, Panasonic Corporation celebrated the 30th anniversary of rice cooker business in the Indian market.
In April 2019, the launch of Mijia Smart Rice Cooker in India was announced by Xiaomi. Apart from regular rice, this rice cooker was capable of cooking biryani, pastas, burgers and pizzas.
Ø This study offers comprehensive yet detailed analysis of the Electric Rice Cooker Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Electric Rice Cooker Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of Type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Electric Rice Cooker caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Electric Rice Cooker Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Electric Rice Cooker Market
v Identification of key factors driving investment opportunities in the Electric Rice Cooker Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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