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Report
India Electric Rice Cooker Market By Type (Standard, Multifunction & Induction Heat), By Capacity (Less Than 2 Liter, 2 liter - 4 Liter & More Than 4 Liter), By Distribution Channel (Supermarket/Hypermarket, Multi-Branded Stores, Online, Specialty Stores, Exclusive Stores & Others (Direct Sales, Distributors & Dealers)), By End User (Residential, Commercial), By Region, Competition Forecast & Opportunities, 2018-2028F
Market Report I 2023-08-01 I 76 Pages I TechSci Research
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 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).
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:
o Standard
o Multifunction
o Induction Heat
- India Electric Rice Cooker Market, By Capacity:
o Less Than 2 Liter
o 2 Liter-4 Liter
o More Than 4 Liter
- India Electric Rice Cooker Market, By Distribution Channel:
o Supermarkets/Hypermarkets
o Multi-Branded Stores
o Online
o Specialty Stores
o Exclusive Stores
o Others
- India Electric Rice Cooker Market, By End User
o Residential
o Commercial
- India Electric Rice Cooker Market, By Region:
o North
o West
o South
o East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India electric rice cooker market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Voice of Customer Analysis (B2C Model Analysis)
4.1. Brand Awareness
4.2. Factors Influencing Purchase Decision
4.3. Customer Satisfaction
4.4. Challenges Faced Post Purchase
5. India Electric Rice Cooker Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.1.2. By Volume
5.2. Market Share & Forecast
5.2.1. By Type Market Share Analysis (Standard, Multifunction, Induction Heat)
5.2.2. By Capacity Market Share Analysis (Less Than 2 Liter, 2 Liter -4 Liter, More Than 4 Liter)
5.2.3. By Distribution Channel Market Share Analysis (Supermarket/Hypermarket, Multi-Branded Stores, Online, Specialty Stores, Exclusive Stores, Others (Direct sales, Distributors & Dealers)
5.2.4. By End User Market Share Analysis (Residential, Commercial)
5.2.5. By Region Market Share Analysis
5.2.5.1. North India Market Share Analysis
5.2.5.2. West India Market Share Analysis
5.2.5.3. South India Market Share Analysis
5.2.5.4. East India Market Share Analysis
5.2.6. By Top 5 Companies Market Share Analysis, Others (2023)
5.2.7. India Electric Rice Cooker Market Mapping & Opportunity Assessment
5.2.7.1. By Type Market Mapping & Opportunity Assessment
5.2.7.2. By Capacity Market Mapping & Opportunity Assessment
5.2.7.3. By Distribution Channel Market Mapping & Opportunity Assessment
5.2.7.4. By End User Market Mapping & Opportunity Assessment
6. India Standard Electric Rice Cooker Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.1.2. By Volume
6.2. Market Share & Forecast
6.2.1. By Capacity Market Share Analysis
6.2.2. By Price Range Market Share Analysis (Low, Medium, High)
6.2.3. By Distribution Channel Market Share Analysis
6.2.4. By End User Market Share Analysis
7. India Multifunction Electric Rice Cooker Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. Market Share & Forecast
7.2.1. By Capacity Market Share Analysis
7.2.2. By Price Range Market Share Analysis (Low, Medium, High)
7.2.3. By Distribution Channel Market Share Analysis
7.2.4. By End User Market Share Analysis
8. India Induction Heat Electric Rice Cooker Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.1.2. By Volume
8.2. Market Share & Forecast
8.2.1. By Capacity Market Share Analysis
8.2.2. By Price Range Market Share Analysis (Low, Medium, High)
8.2.3. By Distribution Channel Market Share Analysis
8.2.4. By End User Market Share Analysis
9. Market Dynamics
9.1. Drivers
9.1.1. Rising demand for energy efficiency
9.1.2. Demand for versatile cooking option
9.1.3. Increasing working population
9.2. Challenge
9.2.1. Alternative Products Availability
9.2.2. High Level of Competitions
10. Impact of COVID-19 on India Electric Rice Cooker Market
10.1. Impact Assessment Model
10.1.1. Key Segments Impacted
10.1.2. Key Regions Impacted
10.1.3. Key Distribution Channel Impacted
11. Market Trends & Developments
11.1. Growing Technology Advancement
11.2. Increasing Marketing and Promotional Activities
11.3. Demand for multifunction electric rice cooker
11.4. Increasing usage of commercial segment of electric rice cooker
11.5. Smart rice electric cookers trend
12. Porter's Five Forces Model
12.1. Competitive Rivalry
12.2. Bargaining Power of Buyers
12.3. Bargaining Power of Suppliers
12.4. Threat of New Entrants
12.5. Threat of Substitutes
13. SWOT Analysis
13.1. Strengths
13.2. Weaknesses
13.3. Opportunities
13.4. Threats
14. India Economic Profile
15. Policy and Regulatory Landscape
16. Competitive Landscape
16.1. Company Profiles
16.1.1. Philips India Limited.
16.1.1.1. Company Details
16.1.1.2. Products
16.1.1.3. Financials (As Per Availability)
16.1.1.4. Key Market Focus & Geographical Presence
16.1.1.5. Recent Developments
16.1.1.6. Key Management Personnel
16.1.2. Bajaj Electricals Ltd
16.1.2.1. Company Details
16.1.2.2. Products
16.1.2.3. Financials (As Per Availability)
16.1.2.4. Key Market Focus & Geographical Presence
16.1.2.5. Recent Developments
16.1.2.6. Key Management Personnel
16.1.3. TTK Prestige Limited
16.1.3.1. Company Details
16.1.3.2. Products
16.1.3.3. Financials (As Per Availability)
16.1.3.4. Key Market Focus & Geographical Presence
16.1.3.5. Recent Developments
16.1.3.6. Key Management Personnel
16.1.4. STOVE KRAFT LIMITED
16.1.4.1. Company Details
16.1.4.2. Products
16.1.4.3. Financials (As Per Availability)
16.1.4.4. Key Market Focus & Geographical Presence
16.1.4.5. Recent Developments
16.1.4.6. Key Management Personnel
16.1.5. Panasonic India Pvt Ltd
16.1.5.1. Company Details
16.1.5.2. Products
16.1.5.3. Financials (As Per Availability)
16.1.5.4. Key Market Focus & Geographical Presence
16.1.5.5. Recent Developments
16.1.5.6. Key Management Personnel
16.1.6. USHA INTERNATIONAL LIMITED
16.1.6.1. Company Details
16.1.6.2. Products
16.1.6.3. Financials (As Per Availability)
16.1.6.4. Key Market Focus & Geographical Presence
16.1.6.5. Recent Developments
16.1.6.6. Key Management Personnel
16.1.7. Havells India Ltd.
16.1.7.1. Company Details
16.1.7.2. Products
16.1.7.3. Financials (As Per Availability)
16.1.7.4. Key Market Focus & Geographical Presence
16.1.7.5. Recent Developments
16.1.7.6. Key Management Personnel
16.1.8. Butterfly Gandhimathi Appliances Limited
16.1.8.1. Company Details
16.1.8.2. Products
16.1.8.3. Financials (As Per Availability)
16.1.8.4. Key Market Focus & Geographical Presence
16.1.8.5. Recent Developments
16.1.8.6. Key Management Personnel
16.1.9. Toshiba Lifestyle Products and Services Corporation
16.1.9.1. Company Details
16.1.9.2. Products
16.1.9.3. Financials (As Per Availability)
16.1.9.4. Key Market Focus & Geographical Presence
16.1.9.5. Recent Developments
16.1.9.6. Key Management Personnel
16.1.10. KENT RO SYSTEMS LTD
16.1.10.1. Company Details
16.1.10.2. Products
16.1.10.3. Financials (As Per Availability)
16.1.10.4. Key Market Focus & Geographical Presence
16.1.10.5. Recent Developments
16.1.10.6. Key Management Personnel
17. Strategic Recommendations/Action Plan
17.1. Key Focus Areas
17.2. Target Type
17.3. Target Distribution Channel
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