Market Size of Electric Cookers
| 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 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 Size Summary
The electric cookers market is experiencing significant growth, driven by increasing consumer demand for innovative and energy-efficient cooking solutions. Despite their higher cost compared to traditional cookers, electric cookers are gaining popularity due to rising disposable incomes, urbanization, and a growing awareness of renewable energy products. These cookers offer features like timers and heat adjustment knobs, making cooking hassle-free and convenient for users, especially those in travel or hostel settings. The market is also seeing trends such as multifunctionality and power efficiency, with vendors introducing smart electric cookers equipped with LCD displays and voice navigation. This product premiumization and portfolio expansion, including smart cookers with Wi-Fi connectivity, are enhancing customer engagement and are expected to drive market growth.
The distribution of electric cookers is predominantly through offline channels, with physical stores remaining the preferred choice for consumers in regions like the United States. The Asia-Pacific region leads the market, supported by factors such as urbanization, aggressive product promotions, and increasing disposable incomes. The growing working population in countries like India and China is further propelling demand for premium, multifunctional kitchen products. The market is highly competitive, with key players like Newell Brands, Spectrum Brands, Electrolux, and Koninklijke Philips driving innovation and portfolio extension. The entry of new brands, such as Thomson in India, highlights the market's potential for growth in emerging regions.
Electric Cookers Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Insights on consumer buying preferences
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1.2 Insights on multifunctionality features of electric cooker products
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1.3 Insights on energy efficiency ratings of electric cookers
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1.4 Insights on technological innovations
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Low Volume
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2.1.2 Medium Volume
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2.1.3 Large Volume
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2.2 By Application
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2.2.1 Household
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2.2.2 Commercial
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2.3 By Distribution Channel
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2.3.1 Supermarkets/Hypermarkets
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2.3.2 Specialty Stores
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2.3.3 Online
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2.3.4 Other Distribution Channels
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2.4 By Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia-Pacific
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2.4.4 South America
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2.4.5 Middle-East and Africa
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Electric Cookers Market Size 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.
