Increasing demand for energy saving devices and surge in consumer disposable income to drive India electric rice cooker market
According to TechSci Research report, “India Electric Rice Cooker Market By Type (Standard, Multifunction, Induction Heat, Others), By Capacity (1-2L, 3-4L, 5-6L), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online, Others), By End User (Residential, Commercial), By Region, Forecast & Opportunities, FY2026”, India electric rice cooker is anticipated to grow at a robust rate during the forecast period. Electric rice cookers are designed to cook rice for different duration of time without intervention of any cook. They are available in the market with different capacities and at varying prices. The market is gaining traction in India on the back of significant consumption of rice in the country. India stands second in terms of highest rice producing countries and produced 116.42 million metric tons rice in the year 2018-19. Rising consumer awareness about sustainable development and saving energy for future purposes is driving the market as this has shifted customer’s focus from conventional rice cooking to electrical rice cooking and thus, increased the sales of electric rice cookers. Increasing population in India as well as rising number of nuclear families are expected to bolster the market growth. In order to cut down the family expenses, Indian population has initiated spending its disposable income on energy efficient devices like electric rice cookers, induction cooktops, etc. Another factor that can be held responsible for the growth of the market is convenience, aesthetics, short duration of time taken for cooking and long duration of time for which a cooker keeps the rice warm. This is highly beneficial for commercial purposes, for instance, hotels and restaurants, where a large number of people are to be served in a small duration of time.
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India electric rice cooker market is segmented on the basis of type, capacity, distribution channel, end user, region and company. Based on distribution channel, the market is further segmented into supermarket/hypermarket, specialty stores, online and others. Amongst these, supermarket/hypermarket segment is expected to hold the largest share in the market through FY2026 as compared to other segments as people usually prefer offline stores for buying electrical appliances rather than online ones in order to test the quality and ensure the warranty of products. Furthermore, specialty stores are particularly meant for specific brand of appliances, which makes them easier to find, thereby contributing to the share of the segment. Based on end user, the market is further bifurcated into residential and commercial. In FY2020, residential led the market and the trend is expected to continue until FY2026 owing to the increase in the number of nuclear families. However, commercial segment is anticipated to register the maximum growth as electric rice cookers are becoming quite popular in public eating spots like hotels and restaurants because of their convenience and minimal need of operation.
Bajaj Electricals Limited, Hawkins Cookers Limited, TTK Prestige Limited, Panasonic India Pvt. Ltd., BMS Lifestyle, Toshiba India Pvt. Ltd., Kent Group, Pigeon Appliances Private Limited, Philips India Limited, Geek Robocook, Greenchef Appliances Limited and others are some of the leading players operating in India electric rice cooker market.
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“India electric rice cooker market is expected to register significant growth during the forecast period. Technology advancements in IoT & artificial intelligence have penetrated through various sectors. In order to cater to the rising demands and preferences of customers, companies are now utilizing these advanced technologies to minimize human intervention while cooking by introducing new innovations like remote controlled electric rice cookers. This is contributing to the market growth in the country,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Electric Rice Cooker Market By Type (Standard, Multifunction, Induction Heat, Others), By Capacity (1-2L, 3-4L, 5-6L), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online, Others), By End User (Residential, Commercial), By Region, Forecast & Opportunities, FY2026”, has evaluated the future growth potential of India electric rice cooker market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India electric rice cooker market.
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