The Europe Electric Rice Cooker Market would witness market growth of 6.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 1,812 thousand Units, showcasing a growth of 6.9% (2019-2022).
The versatility of electric rice cookers extends beyond their namesake function of cooking rice, making them indispensable kitchen appliances for many households. These appliances have evolved to offer a wide range of cooking options, enhancing their appeal to consumers seeking convenience and flexibility in the kitchen. Modern electric rice cookers can prepare various grains, including brown rice, quinoa, and couscous, ensuring that users can enjoy a diverse range of healthy meals. Additionally, many models come equipped with steaming trays, allowing users to steam vegetables, seafood, or dumplings while cooking rice or grains. Some advanced electric rice cookers even offer settings for making porridge, risotto, or one-pot meals, simplifying the cooking process and expanding their culinary capabilities. This versatility saves time and encourages experimentation with different recipes, making it an invaluable addition to any kitchen.
These are one of the kitchen appliances that is gaining popularity for their energy efficiency. They are considered more energy-efficient than conventional cooking appliances, such as gas stoves or ovens, as they use less energy and reduce household energy costs. The demand is expected to grow in nations like China and India because of the increasing number of nuclear families and improved living standards. This growth is also driven by the demand for energy-saving appliances like induction cooktops and electric rice cookers as consumers become more conscious about the environmental impact of their energy use.
In this region, well-established cooking appliance manufacturers are present. This, along with the requirement for low-emission cooking appliances, is anticipated to increase the demand in this region. Consequently, the need for kitchen appliances has been fuelled by rising consumer purchasing power and shifting trends. The EU's median annual disposable income per resident in 2021 was PPS (purchasing power standards) 18019, according to Eurostat. Inhabitants of Nordic and Western EU Member States have the highest median yearly disposable income levels. These factors significantly boost the growth of the regional market.
The Germany market dominated the Europe Electric Rice Cooker Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $66.2 million by 2030. The UK market is estimated to witness a CAGR of 6% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 7.7% during (2023 - 2030).
Based on Application, the market is segmented into Household and Commercial. Based on Distribution Channel, the market is segmented into Offline and Online. Based on Product, the market is segmented into Standard, Multifunctional, Induction and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Electric Rice Cooker Market is Projected to reach USD 1.5 Billion by 2030, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, TTK Prestige Limited, Panasonic Holdings Corporation, AB Electrolux (Electrolux), Wonderchef Home Appliances Pvt. Ltd., Groupe SEB, Pigeon Corporation, Koninklijke Philips N.V., Cuisinart (Conair Corporation), and Aroma Houseware Company
By Application (Volume, Thousand Units, USD Million, 2019-2030)
By Distribution Channel (Volume, Thousand Units, USD Million, 2019-2030)
By Product (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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