India Electric Rice Cooker Market, By Type (Standard, Multifunction & Induction Heat), By Capacity (Less Than 2 Liter, 2 liter - 4 Liter & More Than 4 Liter), By Distribution Channel (Supermarket/Hypermarket, Multi-Branded Stores, Online, Specialty Stores, Exclusive Stores & Others (Direct Sales, Distributors & Dealers etc.)), By End User (Residential, Commercial), By Region, Competition, Forecast
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndia Electric Rice Cooker Market, By Type (Standard, Multifunction & Induction Heat), By Capacity (Less Than 2 Liter, 2 liter - 4 Liter & More Than 4 Liter), By Distribution Channel (Supermarket/Hypermarket, Multi-Branded Stores, Online, Specialty Stores, Exclusive Stores & Others (Direct Sales, Distributors & Dealers etc.)), By End User (Residential, Commercial), By Region, Competition, Forecast
India electric rice cooker market is growing due to rising consumer preferences for energy-efficient cooking products such as the electric rice cooker, as well as increased demand for electrical appliances that are easy to use and take less time to cook. Additionally, it is predicted that the India electric rice cooker market will grow during the forecast period due to advancements in technology and a rise in the number of nuclear families.
Electric rice cookers regulate rice cooking by electrically adjusting heat and timing. Over the years, electric rice cookers have become a widely used kitchen equipment in many metropolitan households. However, for people living in remote and inaccessible places, the use of rice cookers as a necessary item can also work as a driver of increasing sales.
New product advancements in the market by incorporating new and unique feature combinations in electric rice cookers, such as the Internet of Things being used to connect electric rice cookers, are also regarded as important factors. As a result, all of these factors are contributing to the growth of the electric rice cooker market. To meet rising demand, key market players are focusing on introducing new products and expanding their product portfolio. For Instances, in 2022, Prestige launched IOT enabled rice cooker, Using the Prestige Smart app, you can control this appliance from anywhere at any time during cooking, turn it off from anywhere, and get a notification when a program is about to terminate. Similarly, Panasonic, TTK Prestige. Philips, Bajaj Electricals, Stove Kraft etc. are offering multifunction electric rice cooker.
Rise In Number of Women Working Populations Will Lead to the Market Growth
The expansion of the working population, nuclear families, and growing living standards in emerging nations are predicted to continue to be significant drivers for the market. Similarly, rising demand for energy-saving appliances such as induction heat electric rice cookers and multifunctional electric rice cookers to order to reduce time spent on household work is one of the key factors expected to drive market growth. Several factors, including the fact that it is time saving, cost-effective, convenient, and efficient alternative to gas-powered rice cookers, are expected to drive up demand for electric rice cookers in the near future.
Creating and Launching New electric rice cooker Will Fuel the Market Growth
The rising consumer demand for more premium household products are influencing manufacturers to create new product releases. For instance, Prestige offers a smart electric rice cooker which can be controlled from anywhere, at any time of the cooking, using the Prestige Smart app. It includes everything from cereal to scrambled eggs to instant noodles.
Increase in the Number of the Cooking Programs
Electric rice cookers provide a variety of cooking program that enable you to cook variety of grains, different types of rice, as well as steam vegetables, make instant noodles, boil eggs, and more. These features make electric rice cookers a popular cooking equipment.
Hindered by Low-Income Households.
Another difficulty for low-income homes is the upfront cost of an electric rice cooker and related equipment, which ranges from INR 2,500 to 4,000 (USD 34-52). For most Indian houses, this price would be a considerable barrier on top of the LPG connection cost (which many households already have). For reference, the IRES reports that the median monthly spending for Indian households is INR 6,000 (USD 82).
Threat of Increasing Competition and New Competitor Entrance in The Market
The Indian market for electric rice cookers has many well-established competitors, who profit from the market's stability and the loyal patronage of its customers. Another indicator of the market's great development potential is the surge in overseas brands due to the abundance of brands.
Market Segmentation
The India Electric Rice Cooker market is segmented by type, capacity, distribution channel, end user and region. The market is segmented into standard, multifunction & Induction heat based on type. The capacity is further segmented into less than 2-liter, 2 liter-4 liter, more than 4 liter. The distribution channel is segmented into hypermarkets/supermarkets, multi-branded retailers, online, specialty retailers, exclusive retailers & others (direct sales, distributors & dealers etc.)). The end user is segmented into residential and commercial. The market analysis also studies the regional segmentation divided into the south, east, west, north.
Company Profiles
Philips India Limited, Bajaj Electricals Ltd, TTK Prestige Limited, STOVE KRAFT LIMITED, Panasonic India Pvt Ltd, USHA INTERNATIONAL LIMITED, Havells India Ltd., Butterfly Gandhimathi Appliances Limited, Toshiba Lifestyle Products and Services Corporation, KENT RO SYSTEMS LTD are some of the leading market players in the India electric rice cooker market. Newmarket players have also been actively entering the market in recent years, further strengthening future market growth.
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018–2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 –2028 |
| Quantitative Units | Revenue in USD Million, Volume in Thousand units and CAGR for 2018-2022 and 2023E- 2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Type Capacity Distribution Channel End User Region |
| Regional Scope | North, West, South, and East |
| Key Companies Profiled | Philips India Limited, Bajaj Electricals Ltd, TTK Prestige Limited, STOVE KRAFT LIMITED, Panasonic India Pvt Ltd, USHA INTERNATIONAL LIMITED, Havells India Ltd., Butterfly Gandhimathi Appliances Limited, Toshiba Lifestyle Products and Services Corporation, KENT RO SYSTEMS LTD |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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