The global wine cooler market size is anticipated to reach USD 3.17 billion
by 2025, according to a new report by Grand View Research, Inc. It is expected
to expand at a CAGR of 6.4% during the forecast period. Increasing consumption
of wine around the world, especially in India, China, and Japan is expected to
fuel the growth.
Free-standing wine cooler segment held the
largest market share of 53.2% during the forecast period and is expected to
continue leading over the forecast period. Rapid product innovation and
introduction of new products with wider dimensions for increased wine bottle
storage is anticipated to bode well for the growth of the segment in the
forthcoming years. For instance, in February 2019, Vinotemp launched a
Technical Veneer Wrap option for its large-capacity private reserve series wine
coolers at the Kitchen & Bath Industry Show, Las Vegas, Nevada.
The countertop wine cooler segment is
expected to expand at the fastest CAGR of 7.0% over the forecast period.
Commercial application is expected to
continue leading in terms of overall market share throughout the forecast
period. Growing popularity of wine among millennial is the key factor driving
the segment growth. Residential segment, on the other hand, is expected to
expand at the fastest CAGR of 7.2% over the forecast period. The tradition of
drinking wine with dinner in various countries including U.S. and China is the
key factor driving the demand for wine cooler from residential sector.
Europe is expected to remain dominant
region in terms of overall market share throughout the forecast period. It is
expected to expand at a CAGR of 6.0% from 2019 to 2025, driven by increasing
consumption wine. Germany led the Europe wine coolers market in 2018,
accounting for more than 15% share.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/wine-cooler-market
https://www.grandviewresearch.com/industry-analysis/wine-cooler-market
Further key findings from the report suggest:
· Free-standing segment is expected to reach
USD 1.64 billion by 2025, growing at a CAGR of 6.0% from 2019 to 2025
· Restaurant segment is expected to reach USD
944.5 billion by 2025
· Europe held more than 33% share of global
wine coolers market due increasing consumption of wine coupled with rising
awareness regarding the health benefits of wine
· Asia Pacific is expected to expand at a
CAGR of 7.1% over the forecast period owing to increasing consumption wine
· Major market players are Haier, LG
Electronics, BSH Home Appliances Group. (Siemens AG), Climadi, Shenzhen VRBON
Electrical Appliance Co., Ltd., Allavino, Avanti Products, Electrolux, Donlert
Electrical Co. Ltd, and EuroCave Group. Market players focus on mergers and
acquisitions, expanding their production capacity, and innovation to boost
their product sales
Grand View Research has segmented the
global wine coolers market by product, application, and region:
Wine Coolers Product Outlook (Revenue, USD
Million, 2015 - 2025)
·
Free-standing
·
Countertop
·
Built-in
Wine Coolers Application Outlook (Revenue,
USD Million, 2015 - 2025)
·
Residential
·
Commercial
Wine Coolers Region Outlook (Revenue, USD
Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
