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Market Size of Electric Cookers Industry
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Study Period
2020 - 2029
Market Size (2024)
USD 5.35 Billion
Market Size (2029)
USD 6.79 Billion
CAGR (2024 - 2029)
4.89 %
Fastest Growing Market
Asia-Pacific
Largest Market
Asia Pacific
Market Concentration
Low
Major Players
*Disclaimer: Major Players sorted in no particular order
Electric Cookers Market Analysis
The Electric Cookers Market size is estimated at USD 5.35 billion in 2024, and is expected to reach USD 6.79 billion by 2029, growing at a CAGR of 4.89% during the forecast period (2024-2029).
Electric cookers have become staples in both homes and commercial kitchens. In residential settings, they provide a convenient and efficient means for meal preparation, offering versatile options like boiling, simmering, roasting, and baking. In commercial venues such as restaurants and cafes, electric cookers are indispensable. They empower chefs to swiftly prepare large food quantities, ensuring operations run smoothly and service remains timely. Thus, electric cookers are pivotal in fulfilling culinary demands and delighting customers in both arenas.
While electric cookers are more expensive than traditional ones, global demand is surging. This trend is fueled by rising disposable incomes, urbanization, and a growing inclination toward renewable energy products. Beyond their core cooking functions, electric cookers boast features like timers and adjustable heat settings. Their advantages extend to hassle-free cooking without fire, making them ideal for travelers and hostel residents.
The electric cookers market is increasingly leaning toward multifunctionality and energy efficiency. Vendors are rolling out advanced electric cookers, some equipped with LCDs and voice navigation for added user-friendliness. The market is also seeing a trend of product premiumization and an expansion of company portfolios. For example, certain vendors are launching smart electric cookers with integrated Wi-Fi, enabling users to manage settings via smartphone apps. Such innovations enhance customer interaction and are poised to propel the growth of the electric cookers market over the coming years.
Electric Cookers Industry Segmentation
Electric cookers utilize integrated electrical heating elements for cooking and baking. They became popular as convenient alternatives to traditional solid-fuel stoves, like those fueled by wood or coal, which require more labor for operation and maintenance.
The electric cookers market is segmented by product type, application, distribution channel, and geography. By product type, the market is segmented into low volume, medium volume, and large volume. By application, the market is segmented into household and commercial. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online platforms, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report offers sizes and forecasts for the electric cookers market in terms of value (USD) for all the above segments.
By Product Type Low Volume Medium Volume Large Volume
By Application Household Commercial
By Distribution Channel Supermarkets/Hypermarkets Specialty Stores Online Platforms Other Distribution Channels
By Geography North America Europe Asia-Pacific South America Middle East and Africa
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Electric Cookers Market 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.
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Electric Cookers Market Size - Table of Contents
1. MARKET INSIGHTS AND DYNAMICS
1.1 Market Overview
1.2 Market Drivers
1.2.1 Growing Popularity of Smart Kitchen Appliances
1.2.2 Rise in the Number of Nuclear Families
1.3 Market Restraints
1.3.1 Low-quality Electric Rice Cookers
1.4 Market Opportunities
1.4.1 Addition of Innovative Features
1.5 Industry Attractiveness - Porter's Five Forces Analysis
1.5.1 Bargaining Power of Suppliers
1.5.2 Bargaining Power of Buyers
1.5.3 Threat of New Entrants
1.5.4 Threat of Substitutes
1.5.5 Intensity of Competitive Rivalry
1.6 Insights into Consumer Buying Preferences
1.7 Industry Value Chain Analysis
1.8 Insights into Technological Innovations in the Market
1.9 Insights into the Impact of the COVID-19 Pandemic on the Market
2. MARKET SEGMENTATION
2.1 By Product Type
2.1.1 Low Volume
2.1.2 Medium Volume
2.1.3 Large Volume
2.2 By Application
2.2.1 Household
2.2.2 Commercial
2.3 By Distribution Channel
2.3.1 Supermarkets/Hypermarkets
2.3.2 Specialty Stores
2.3.3 Online Platforms
2.3.4 Other Distribution Channels
2.4 By Geography
2.4.1 North America
2.4.2 Europe
2.4.3 Asia-Pacific
2.4.4 South America
2.4.5 Middle East and Africa
Electric Cookers Market Size FAQs
How big is the Electric Cookers Market?
The Electric Cookers Market size is expected to reach USD 5.35 billion in 2024 and grow at a CAGR of 4.89% to reach USD 6.79 billion by 2029.
What is the current Electric Cookers Market size?
In 2024, the Electric Cookers Market size is expected to reach USD 5.35 billion.
Electric Cookers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)
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