Market Research Report
Global Electric Rice Cooker Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||763581|
|Published||Content info||110 Pages
Delivery time: 1-2 business days
|Global Electric Rice Cooker Market 2019-2023|
|Published: November 29, 2018||Content info: 110 Pages||
Multifunctionality of electric rice cooker to drive growth in the market. Multifunctionality, portability, and power efficiency are the recent innovations in electric rice cookers. Vendors are also introducing models with rubber seals and locking mechanisms, which hold the lid tightly onto the crock for spill-free transportation. Technavio's analysts have predicted that the electric rice cooker market will register a CAGR of almost 7% by 2023.
The vendors in the market are manufacturing products with add-on features and designs to differentiate themselves from other competitors.
The use of electric cookers is high in developed nations. However, their penetration in residential areas of some of the developing markets such as APAC, Latin America, and Eastern Europe continues to be comparatively lower than that in developed markets.
For the detailed list of factors that will drive and challenge the growth of the electric rice cooker market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Newell Brands and Spectrum Brands the competitive environment is quite intense. Factors such as the product innovation and portfolio extension leading to premiumization and the multifunctionality of electric rice cooker, will provide considerable growth opportunities to electric rice cooker manufactures. ELECTROLUX, Koninklijke Philips, Newell Brands, and Spectrum Brands are some of the major companies covered in this report.