A rice cooker, also known as a rice steamer, is an electric kitchen appliance specifically designed for boiling or steaming rice. Although it has a relatively short history, with its invention in Japan in the 1950s, the rice cooker has gained popularity worldwide for its convenience. According to Report Ocean, the global rice cooker market was valued at $9,875.63 million in 2019 and is projected to reach $12,581.57 million by 2026, with a steady CAGR of 3.52% from 2020 to 2026. The market’s growth is primarily attributed to the increasing trend of miniaturization and smart technology in rice cookers.
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The rice cooker market is segmented based on product, distribution channel, and region. The report provides a comprehensive breakdown of market shares by product, including Conventional Rice Cooker, Micom Rice Cooker, and IH Rice Cooker. In terms of distribution channel, the rice cooker market is divided into Online and Offline. Regionally, the rice cooker industry is analyzed across North America, Europe, Asia Pacific, South America, and the Middle East and Africa (MEA).
The market research report covers the analysis of key stakeholders in the rice cooker market. It profiles some of the leading players in the industry, including:
- Midea Group
- Zhejiang Supor Co., Ltd. (SEB Internationale SAS)
- Cuchen Co., Ltd.
- Panasonic Corporation
- Zojirushi Corporation
- Cuckoo Electronics Co., Ltd.
- Gree Electric Appliances Inc.
- Guangdong Elecpro Electric Appliance Holding Co., Ltd.
- Guangdong Enaiter Electric Appliance Co., Ltd.
- Guangdong Galanz Group Co., Ltd.
- Guangdong Hallsmart Intelligence Technology Corp.
- Guangdong Hotor Electrical Appliance Co., Ltd.
- Guangdong Weking Group Co., Ltd.
- Guangdong Zhanjiang Household Electric Appliances Industrial Co., Ltd.
- Haier Group Corporation
- Joyoung Co., Ltd.
- Koninklijke Philips N.V. (Shanghai POVOS Electric Works Co., Ltd.)
- Sanyo Electric Co., Ltd.
- Shanghai Chunmi Electronic Technology Co., Ltd.
- Shanghai POVOS Electric Works Co., Ltd.
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By Product:
- Conventional Rice Cooker
- Micom Rice Cooker
- IH Rice Cooker
By Distribution Channel:
- Online
- Offline
By region, the market is analyzed across North America, Asia Pacific, Europe, Middle East & Africa, and South America. The report presents revenue growth forecasts at the global, regional, and country levels from 2020 to 2026.
Regional Analysis:
- North America (U.S., Canada, Mexico, etc.)
- Asia Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.)
- Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, Egypt, Nigeria, UAE, Israel, South Africa, etc.)
- South America (Brazil, Argentina, Colombia, Chile, Venezuela, Peru, etc.)
The base year for this study is 2019, and the forecasts extend up to 2026. The research objectives of this report are as follows:
- To analyze and forecast the market size of the global rice cooker market.
- To classify and forecast the global rice cooker market based on product, distribution channel, and region.
- To identify the drivers and challenges for the global rice cooker market.
- To examine competitive developments such as mergers & acquisitions, agreements, collaborations, and partnerships in the global rice cooker market.
- To conduct pricing analysis for the global rice cooker market.
- To identify and analyze the profiles of leading players operating in the global rice cooker market.
This report provides valuable insights for industry stakeholders, including manufacturers, partners, end-users, investors, and researchers, by offering answers to critical questions, facilitating investment strategies, and capitalizing on market opportunities.
The key target audience includes:
- Manufacturers of rice cookers
- Raw material suppliers
- Market research and consulting firms
- Government bodies, including regulating authorities and policymakers
- Organizations, forums, and alliances related to rice cookers.
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PESTEL Analysis
Political Factors
- Political factors assess the potential impact of government policies and stability on an organization or a specific industry.
- This includes examining political policies, trade regulations, fiscal policies, and taxation policies.
Economic Factors
- Economic factors directly influence the economy and its performance, which in turn affect the organization’s profitability.
- These factors encompass interest rates, employment and unemployment rates, raw material costs, and foreign exchange rates.
Social Factors
- Social factors focus on the social environment and identify emerging trends.
- Understanding consumer needs and wants within a social context is crucial for marketers.
- Factors in this category include changing family demographics, education levels, cultural trends, attitude changes, and shifts in lifestyles.
Technological Factors
- Technological factors consider the pace of technological innovation and development that can impact a market or industry.
- This involves changes in digital or mobile technology, automation, research and development.
- It’s important to not only focus on digital advancements but also new methods of distribution, manufacturing, and logistics.
Environmental Factors
- Environmental factors relate to the surrounding environment and the ecological impact.
- As Corporate Sustainability Responsibility (CSR) and sustainability gain importance, organizations need to consider these factors in their business operations.
- This includes climate, recycling practices, carbon footprint, waste disposal, and sustainability efforts.
Legal Factors
- Legal factors require organizations to understand the legal requirements and restrictions in the territories they operate in.
- It is crucial to stay updated on changes in legislation and how they may impact business operations.
- Factors include employment legislation, consumer laws, health and safety regulations, international regulations, and trade restrictions.
SWOT analysis:
Strengths:
- These are the internal positive attributes and resources that give an advantage over others. It could be expertise, unique skills, valuable assets, strong brand reputation, or a dedicated team.
Weaknesses:
- These are internal factors that put the entity at a disadvantage compared to others. Weaknesses might include inadequate resources, lack of expertise in certain areas, or inefficient processes.
Opportunities:
- These are external factors that could be favorable to the entity. Opportunities might arise from market trends, technological advancements, changes in regulations, or new partnerships.
Threats:
- These are external factors that could harm the entity’s performance or stability. Threats might – come from competitors, economic downturns, changing consumer preferences, or disruptive technologies.
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