Report Description

India electric rice cooker market is growing due to rising consumer preferences for energy-efficient cooking products such as the electric rice cooker, as well as increased demand for electrical appliances that are easy to use and take less time to cook. Additionally, it is predicted that the India electric rice cooker market will grow during the forecast period due to advancements in technology and a rise in the number of nuclear families.

Electric rice cookers regulate rice cooking by electrically adjusting heat and timing. Over the years, electric rice cookers have become a widely used kitchen equipment in many metropolitan households. However, for people living in remote and inaccessible places, the use of rice cookers as a necessary item can also work as a driver of increasing sales.

New product advancements in the market by incorporating new and unique feature combinations in electric rice cookers, such as the Internet of Things being used to connect electric rice cookers, are also regarded as important factors. As a result, all of these factors are contributing to the growth of the electric rice cooker market. To meet rising demand, key market players are focusing on introducing new products and expanding their product portfolio. For Instances, in 2022, Prestige introduced IOT enabled rice cooker, Using the Prestige Smart app, you can control this appliance from anywhere at any time during cooking, turn it off from anywhere, and get a notification when a program is about to terminate. Similarly, Panasonic, TTK Prestige. Philips, Bajaj Electricals, Stove Kraft etc. are offering multifunction electric rice cooker.

Rise In Number of Women Working Populations Will Lead to the Market Growth

The expansion of the working population, nuclear families, and growing living standards in emerging nations are predicted to continue to be significant drivers for the market. Similarly, rising demand for energy-saving appliances such as induction heat electric rice cookers and multifunctional electric rice cookers to order to reduce time spent on household work is one of the key factors expected to drive market growth. Several factors, including the fact that it is time saving, cost-effective, convenient, and efficient alternative to gas-powered rice cookers, are expected to drive up demand for electric rice cookers in the near future.

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

The rising consumer demand for more premium household products are 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.

Increase in the Number of the Cooking Programs

Electric rice cookers provide a variety of cooking program that enable you to cook variety of grains, different types of rice, as well as steam vegetables, make instant noodles, boil eggs, and more. These features make electric rice cookers a popular cooking 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 2,500 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).