Market Size of Electric Cookers
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 10.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electric Cookers Market Analysis
The electric cookers market is anticipated to register a CAGR of nearly 10% in the forecast period. Despite being costlier than the regular cookers, electric cookers are witnessing increased demand from consumers globally, owing to factors such as rising disposable income, increasing urbanization, and rising awareness of using renewable energy products.
Electric cookers are also equipped with innovative features, such as timer and heat adjustment variation knobs. Some of the other benefits of electric cookers include hassle-free cooking as they do not need fire and can be beneficial for consumers during travel and also for the ones staying in hostels.
Multifunctionality and power efficiency are also some of the major trends in the electric cookers market. Many vendors are introducing multifunctional electric cookers with LCD displays and voice navigation for enhanced convenience. The market is also witnessing product premiumization and portfolio expansion by companies. For instance, some vendors are introducing smart electric cookers with built-in Wi-Fi connectivity that allows users to control functions through a smartphone app. The introduction of such smart premium features is helping simplifying customer engagement, which is expected to further drive the growth of the electric cookers market during the forecast period.
