Electric Cookers Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 10.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electric Cookers Market Analysis
The electric cookers market is anticipated to register a CAGR of nearly 10% in the forecast period. Despite being costlier than the regular cookers, electric cookers are witnessing increased demand from consumers globally, owing to factors such as rising disposable income, increasing urbanization, and rising awareness of using renewable energy products.
Electric cookers are also equipped with innovative features, such as timer and heat adjustment variation knobs. Some of the other benefits of electric cookers include hassle-free cooking as they do not need fire and can be beneficial for consumers during travel and also for the ones staying in hostels.
Multifunctionality and power efficiency are also some of the major trends in the electric cookers market. Many vendors are introducing multifunctional electric cookers with LCD displays and voice navigation for enhanced convenience. The market is also witnessing product premiumization and portfolio expansion by companies. For instance, some vendors are introducing smart electric cookers with built-in Wi-Fi connectivity that allows users to control functions through a smartphone app. The introduction of such smart premium features is helping simplifying customer engagement, which is expected to further drive the growth of the electric cookers market during the forecast period.
Electric Cookers Market Trends
This section covers the major market trends shaping the Electric Cookers Market according to our research experts:
Offline Distribution Channel Accounts for Major Sales of Electric Cookers
The offline distribution channel generated the highest electric cooker sales of the market share in 2018. The majority of the people still prefer buying electric products, such as cookers from physical stores over e-commerce. In countries, like the United States, nearly 40-50% of consumers prefer buying electric home appliances through physical stores rather than online channels. Additionally, the rising number of retail stores, especially in emerging markets like China, India, and Brazil, is also expected to expand the visibility of these electrical appliances through offline channels.
The growing sales of these cookers from specialty stores, department stores, hypermarkets, supermarkets, and warehouse are likely to propel the market growth further and it is anticipated that the offline distribution channel segment will continue to account for a significant market share during the forecast period.
Asia Pacific to Emerge as the Strongest Region in the Forecast Period
The Asia-Pacific region led the market in 2019, followed by Europe and the other regions. During the forecast period, the Asia-Pacific region is anticipated to be the most dominant region in the market. Some of the major factors contributing to the growth of electric cooker sales in the region include growing urbanization, aggressive product promotion strategies of companies, and the rising disposable income of the consumers present in this region.
Furthermore, the increase in the working population in developing nations, such as India and China, is propelling the market growth further as these consumers are looking to buy premium kitchen products with multifunctional properties. There is also a rising awareness among consumers toward the utility of cooking appliances with low emissions which are expected to further increase the demand for electric cookers in this region.
Electric Cookers Industry Overview
The electric cookers market is fragmented and highly competitive with several players occupying the market share. Some of the prominent brands in the market include Newell Brands, Spectrum Brands, ELECTROLUX, and Koninklijke Philips. Factors, such as product innovation and portfolio extension, are leading to the premiumization and the multifunctionality of electric rice cookers, which is likely to provide considerable growth opportunities to electric rice cooker manufacturers.
Electric Cookers Market Leaders
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Newell Brands
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Spectrum Brands
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Electrolux
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Koninklijke Philips
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Smeg
*Disclaimer: Major Players sorted in no particular order
Electric Cookers Market News
August 2022: French appliance maker Thomson makes entry into the Indian market with a range of small home and cooking appliances including juicers, electric cookers and various other categories. Thomson made active forays into India in 2018 in the television segment and has been expanding its product portfolio to key growing categories such as electric cookers.
Electric Cookers Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Insights on consumer buying preferences
- 4.2 Insights on multifunctionality features of electric cooker products
- 4.3 Insights on energy efficiency ratings of electric cookers
- 4.4 Insights on technological innovations
5. MARKET DYNAMICS
- 5.1 Market Overview
- 5.2 Market Drivers
- 5.3 Market Opportunities
- 5.4 Market Restraints
- 5.5 Industry Value Chain Analysis
- 5.6 Porter's Five Forces Analysis
6. MARKET SEGMENTATION
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6.1 By Product Type
- 6.1.1 Low Volume
- 6.1.2 Medium Volume
- 6.1.3 Large Volume
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6.2 By Application
- 6.2.1 Household
- 6.2.2 Commercial
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6.3 By Distribution Channel
- 6.3.1 Supermarkets/Hypermarkets
- 6.3.2 Specialty Stores
- 6.3.3 Online
- 6.3.4 Other Distribution Channels
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6.4 By Geography
- 6.4.1 North America
- 6.4.2 Europe
- 6.4.3 Asia-Pacific
- 6.4.4 South America
- 6.4.5 Middle-East and Africa
7. COMPETITIVE LANDSCAPE
- 7.1 Market Competion Overview
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7.2 Company Profiles
- 7.2.1 Philips
- 7.2.2 Newell Brands
- 7.2.3 Spectrum Brands
- 7.2.4 Smeg
- 7.2.5 Electrolux
- 7.2.6 Panasonic
- 7.2.7 Toshiba
- 7.2.8 Hitachi
- 7.2.9 Cuchen
- 7.2.10 Midea
- 7.2.11 Tiger
- 7.2.12 Conair
- 7.2.13 Enaiter
- 7.2.14 Sinbo
- 7.2.15 Supor
- *List Not Exhaustive
8. FUTURE OF THE MARKET AND ANALYST RECOMMENDATIONS
9. DISCLAIMER
10. ABOUT US
Electric Cookers Industry Segmentation
The report provides in-depth coverage of the electric cookers market, which includes an assessment of the parental market, emerging trends by segments and regional markets and market dynamics. Additionally, the report also provides a qualitative and quantitative assessment of the market and competitive landscape covering the major players present in the electric cookers industry.
| By Product Type | Low Volume |
| Medium Volume | |
| Large Volume | |
| By Application | Household |
| Commercial | |
| By Distribution Channel | Supermarkets/Hypermarkets |
| Specialty Stores | |
| Online | |
| Other Distribution Channels | |
| By Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Electric Cookers Market Research FAQs
What is the current Electric Cookers Market size?
The Electric Cookers Market is projected to register a CAGR of less than 10% during the forecast period (2024-2029)
Who are the key players in Electric Cookers Market?
Newell Brands, Spectrum Brands, Electrolux, Koninklijke Philips and Smeg are the major companies operating in the Electric Cookers Market.
Which is the fastest growing region in Electric Cookers Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electric Cookers Market?
In 2024, the Asia Pacific accounts for the largest market share in Electric Cookers Market.
What years does this Electric Cookers Market cover?
The report covers the Electric Cookers Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Electric Cookers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electric Cookers Industry Report
Statistics for the 2024 Electric Cookers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Electric Cookers analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
