Electric Rice Cooker Market size is valued at USD 3,217.9 billion in 2021 and is expected to grow at a significant CAGR of 6.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the Electric Rice Cooker market and that can be segmented by product, distribution channel, power, and end-user. By product, the market has been segmented into Standard, Multifunctional, Induction, and Others. The standard segment is likely to be the largest and fastest-growing segment in terms of type. Based on distribution channel, the market is segmented into Offline, and online. Among these, the online segment is expected to have the fastest-growing market during the forecast period 2022-2028 according to precision business insights. By region, the Asia Pacific market is expected to witness the highest market share during the forecast period due to rice, being the staple food in most of the countries such as China, India, Indonesia, and Japan, is an important parameter for the growth of the market for electric rice cookers in this region.
In October 2019, Xiaomi’s Mijia Rice Cooker series sales are a testament to its growth in the Electric Rice Cooker market