India Electric Rice Cooker Market Competition Forecast & Opportunities, 2028

The Indian electric rice cooker market is witnessing growth due to the increasing consumer preference for energy-efficient cooking appliances, particularly electric rice cookers

The Indian electric rice cooker market is witnessing growth due to the increasing consumer preference for energy-efficient cooking appliances, particularly electric rice cookers. The demand for electrical appliances that are user-friendly and offer quick cooking solutions is also contributing to this trend. Furthermore, advancements in technology and the rise of nuclear families are expected to drive the growth of this market in India.

Electric rice cookers regulate the cooking process by adjusting heat and timing through electricity. These appliances have gained widespread popularity in urban households over the years. However, they also serve as essential items in remote and inaccessible areas, thus driving sales in those regions.

The introduction of innovative features in electric rice cookers, such as Internet of Things (IoT) connectivity, has emerged as a crucial factor in the market. Key players are focusing on meeting the growing demand by launching new products and expanding their portfolios. For example, Prestige introduced an IoT-enabled rice cooker in 2022, which allows users to control the appliance remotely using the Prestige Smart app.

The market growth is further propelled by the increase in the number of women in the workforce, the prevalence of nuclear families, and the improvement in living standards in emerging economies. Additionally, the demand for energy-saving appliances like induction heat electric rice cookers and multifunctional electric rice cookers is driven by the need to reduce the time spent on household chores. Electric rice cookers offer a time-saving, cost-effective, convenient, and efficient alternative to gas-powered rice cookers, contributing to the rising demand in the market.

Creating and Launching New electric rice cooker Will Fuel the Market Growth

The rising consumer demand for more premium household products is influencing manufacturers to create new product releases. For instance, Prestige offers a smart electric rice cooker which can be controlled from anywhere, at any time of the cooking, using the Prestige Smart app. It includes everything from cereal to scrambled eggs to instant noodles.

Cooking Features

Electric rice cookers offer a wide range of cooking features, allowing one to prepare various grains, different types of rice, steam vegetables, make instant noodles, boil eggs, and more. These versatile features have contributed to the widespread popularity of electric rice cookers as essential kitchen equipment.

Hindered by Low-Income Households.

Another difficulty for low-income homes is the upfront cost of an electric rice cooker and related equipment, which ranges from INR 2500 to 4,000 (USD 34-52). For most Indian houses, this price would be a considerable barrier on top of the LPG connection cost (which many households already have). For reference, the IRES reports that the median monthly spending for Indian households is INR 6,000 (USD 82).

Threat of Increasing Competition and New Competitor Entrance in The Market

The Indian market for electric rice cookers has many well-established competitors, who profit from the market's stability and the loyal patronage of its customers. Another indicator of the market's great development potential is the surge in overseas brands due to the abundance of brands.

Market Segmentation

The India Electric Rice Cooker market is segmented by type, capacity, distribution channel, end user, region and competitive landscape. The market is segmented into standard, multifunction & Induction heat based on type. The capacity category is further segmented into less than 2 liter, 2 liter-4 liter, more than 4 liter. The distribution channel category is segmented into supermarkets/hypermarkets, multi-branded stores, online, specialty stores, exclusive stores & others (direct sales, distributors & dealers)). The end user is segmented into residential and commercial. The market analysis also studies the regional segmentation divided into the south, east, west, north.

Company Profiles

Philips India Limited, Bajaj Electricals Ltd, TTK Prestige Limited, STOVE KRAFT LIMITED, Panasonic India Pvt Ltd, USHA INTERNATIONAL LIMITED, Havells India Ltd., Butterfly Gandhimathi Appliances Limited, Toshiba Lifestyle Products and Services Corporation, KENT RO SYSTEMS LTD are some of the leading market players in the India electric rice cooker market. New market players have also been actively entering the market in recent years, further strengthening future market growth.

Report Scope

In this report, India electric rice cooker market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

India Electric Rice Cooker Market, by Type:

• Standard
• Multifunction
• Induction Heat

India Electric Rice Cooker Market, by Capacity:

• Less Than 2 Liter
• 2 Liter-4 Liter
• More Than 4 Liter

India Electric Rice Cooker Market, by Distribution Channel:

• Supermarkets/Hypermarkets
• Multi-Branded Stores
• Online
• Specialty Stores
• Exclusive Stores
• Others

India Electric Rice Cooker Market, by End User

• Residential
• Commercial

India Electric Rice Cooker Market, by Region:

• North
• West
• South
• East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India electric rice cooker market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.