The latest research study "Wine Cooler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global wine cooler industry size reached US$ 2.83 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.99 Billion by 2028, exhibiting a growth rate (CAGR) of 5.8% during 2023-2028.
A wine cooler refers to an electronic consumer appliance that is specially designed to store alcoholic beverages at the required humidity and temperature to keep them fresh and cold. It generally includes dual and single-zoned structures that are commonly available in several installation types, such as free-standing, built-in, countertops, etc. These coolers reduce the change in smell, mitigate the bacterial growth from the product, improve the taste, extend its shelf life, keep the drink for a longer duration, etc. In addition to this, they offer versatility, accessibility, easy portability, enhanced product visibility, energy efficiency, optimal humidity levels at cost-effective rates and lower maintenance, etc. Consequently, wine coolers are extensively utilized across commercial and residential buildings for the effective storage, refrigeration, and preservation of wines.
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Wine Cooler Market Trends and Drivers:
The emerging trend of socializing at pubs, restaurants, bars, etc., especially among the millennials during meetings and social gatherings, is primarily driving the wine cooler market. Additionally, the increasing penetration of mobile applications for ordering alcohol with attractive discounts and user-friendly features is further catalyzing the market growth. Besides this, the growing popularity of wine coolers with improved insulation on both doors and cabinets and light-emitting diodes (LEDs) lighting to monitor and control temperature zones is acting as another significant growth-inducing factor. Moreover, leading manufacturers are also developing wine cave technology with minimized vibrations and enhanced humidity to maintain the freshness and quality of drinks, which is positively influencing the global market. Apart from this, the introduction of advanced beverage cooling solutions is anticipated to fuel the wine cooler market over the forecasted period.
Wine Cooler Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Avanti Products Inc
- Allavino
- Dunavox Kft
- Electrolux AB
- EuroCave SAS
- Haier Group Corporation
- LG Electronics Inc
- Shenzhen VRBON Electrical Appliance Co. Ltd.
- Siemens AG
- Whirlpool Corporation
- Whynter LLC, etc.
The report has segmented the market on the basis of end use industry.
Installation Type Insights:
- Free-standing
- Countertop
- Built-in
The report has also provided a detailed breakup and analysis of the wine cooler market based on the installation type. This includes free-standing, countertop, and built-in. According to the report, free-standing represented the largest segment.
Technology Insights:
- Compressor
- Thermoelectric
A detailed breakup and analysis of the wine cooler market based on the technology has also been provided in the report. This includes compressor and thermoplastics.
StructureInsights:
- Dual Zone
- Single Zone
- Others
The report has also provided a detailed breakup and analysis of the wine cooler market based on the structure. This includes dual, single, and other.
Distribution Channel Insights:
- Offline
- Online
A detailed breakup and analysis of the wine cooler market based on the distribution channel has also been provided in the report. This includes offline and online.
ApplicationInsights:
- Commercial
- Residential
The report has also provided a detailed breakup and analysis of the wine cooler market based on the application. This includes commercial and residential. According to the report, commercial represented the largest segment.
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
