Global Wine Cooler Market Overview
The Wine Cooler Market Was Valued at USD 2.81 Billion in 2023 and is Projected to Reach USD 5.1 Billion by 2032, Growing at a CAGR of 6.85% from 2024 to 2032.
Wine coolers are electronic consumer appliances or goods that are used for cooling or lowering the temperature of the wine. They store and chill wine to perfection and keep them healthy and perfect tasting. Beverages and their diverse organoleptic characteristics require ideal safeguarding to maintain their attributes and guarantee that their taste doesn’t change over time. They are mainly used for storage, refrigeration, and preservation of wine inside the bottle. Wine coolers provide the appropriate temperature and humidity as per the requirement of wines. They cannot be used for cooling down other beverages as wines are cooled. The coolers also help to keep the wine in a drinkable state for a long period and they also improve the taste of the wines. Based on the product, the market is classified into Free-standing, Countertop, and Built-in. Based on the application, the market is bifurcated into Residential and Commercial.
Market Dynamics and Factors:
Drivers
Growth in retail sales driving the market
- Retail sales of alcoholic drinks, particularly wines, are increasing in many major nations throughout the world, which is a primary driving force behind the market for wine coolers and refrigerators. The market for wine coolers is likely to decline in the projection period, as more people choose to buy their wine bottles for in-house use. Furthermore, given the current trend of luxury kitchen setups, in which customers aspire to include high-tech equipment into their kitchens and families, a wine cooler is an excellent alternative for consumers.
Wine aging and preservation trend boosting the demand domestically.
- The market for wine coolers is expected to rise as the popularity of sparkling wine grows because of its fizz, particularly among party circuits. Wine consumption is expected to increase as people become more aware of the heart-healthy advantages of wine, such as decreasing cholesterol and strengthening the heart. Over the projected period, the market is expected to be driven by rising wine consumption, particularly among young and health-conscious customers. The need to keep wine safe from potentially dangerous bacterial development at ambient temperature is projected to drive demand for temperature-controlled storage goods like coolers. Winemakers are focusing on developing innovative methods to preserve the taste and shelf life of their products. Interior Vinotemp BioBlu technology, which employs LED illumination, aids in the reduction of bacteria and mold growth. Silhouette has also released the Danby model SR001, which features a triple pane Low E glass for UV protection.
Restraints
- One of the issues that customers might run into with a built-in wine cooler is that it isn’t mobile. A freestanding wine cooler can be moved relatively easily; however, a built-in wine fridge is anchored in place which can occupy space for a longer period. Cost is also one of the restraining factors for the wine cooler market. A good quality wine cooler can cost up to USD 1000. For a singular purpose, such costs can discourage the customers. Although a lower-cost model is available in the market but size and quality can be compromised in such a situation.
Opportunities
- Wine is becoming popular with its numerous health benefits and provides a class in the consumption of the alcoholic beverage. With rising disposable income in the middle-class population in developing countries, a large number of households have shifted to wine as a preferred drink. To capitalize on such demand from middle-class customers, there are large scope to introduced high-quality and affordable wine coolers to capture this segment. Compact size and energy-efficient wine cooler can be a great opportunity for manufacturers to increase market share.
Challenges
- The residential sector is partly volatile for specialty products such as wine coolers. Wine cooler offers various benefits for wine connoisseurs and enthusiasts, however high price and singular use of wine cooler eliminate most of the customers. The normal refrigerator can be used as an alternative for wine cooler as large consumers have it at their disposal. Certain consumers with higher spending power may invest in a USD 1000 wine cooler. To capture a larger market, the cost is a major obstacle for the wine cooler market. Increased power consumption with the additional cooling appliance in the single household can reduce the demand for a wine cooler.
Market Segmentation
- By Type, a Freestanding wine cooler is dominating the wine cooler market. Manufacturers are continuously introducing new products with wider dimensions in this category to provide a bigger storage area. When wine is stored in a normal refrigerator with a heavy compressor, ever-so-slightly vibration can occur. All of that naturally occurring sediment gets stirred up in the vibrating refrigerator and It can add energy to the mix and disrupt the natural aging process. As a result, less tartaric acid is produced, which then changes the overall flavour of the wine. Wine cooler offers a vibration-free method of storage and with freestanding wine, cooler space utilization can be done efficiently. Freestanding wine cooler offers wide space for ample bottles for storage. Therefore, it is best suited for both residential and commercial purposes which drives the demand for a free-standing wine cooler.
- By Application, the Commercial segment is dominating the wine cooler market. This segment is expected to remain dominant throughout the forecast period. Increasing consumption of wine around the world is the major driving factor for the growth of the segment. Moreover, increasing demand for various types of wine and their growing popularity among millennials is expected to bode well for the segment growth. Shifting consumer preference, availability of a wide range of flavours, and rising spending power of the consumers are some of the factors expected to positively impact the demand trends in the global alcohol industry. Therefore, maintaining a large inventory required energy-efficient, ample space and without affecting wine's taste, wine coolers offer numerous benefits to retailers and shopkeepers. Therefore, the commercial sector is best suited to target wine coolers which can boost the market.
Players Covered in Wine Cooler market are :
- Allavino Company
- Avanti Products Inc
- Electrolux AB
- Danby Appliances Inc
- Marvel Refrigeration
- Viking Range Corporation
- Haier Group
- LG Electronics
- Vinotemp
- Perlick Corporation
- Robert Bosch LLC
- Whynter LLC
- Uline Company
- Lanbo International Inc
- Liebherr and other major players.
Regional Analysis of Wine Cooler Market
- North America is dominating the wine cooler market. In particular, the USA is leading the market in the region. The United States consumes the largest volume of wine of any country, at 33 million hectolitres in 2020. Consumers in the United States have a special appreciation for wine due to higher demand is generated as it is the most preferred alcoholic drink for numerous occasions such as dinners, parties, corporate events. California, which is the fourth-largest wine producer after France, Spain, and Italy, is a major player in the industry. Due to its favorable environment, Italy is the world's largest and most diverse beverage and wine-producing country. The importance of its preservation has prompted a variety of manufacturers to create a wide range of technologically advanced freezers and coolers with dynamic looks. By examining both regular and luxury kitchens, consumers throughout the world are viewing beverage freezers and coolers as a desired component and a must-have storage item. Consumers are prepared to pay more for items that provide temperature and multi-storage capabilities, therefore combination coolers are in high demand.
- Europe is the second-largest region for the wine cooler market. France had the highest wine-consuming population among European countries, with wine consumption standing at around 24.7 million hectolitres in 2020. In contrast, wine consumption in the United Kingdom amounted to approximately 13.3 million hectolitres. Europe is the largest wine-producing country with Italy at the top with its highest export of 20.8 million hectolitres in 2020. Therefore, commercial wine cooler demand from Europe has boosted the market. With the highest wine exporting region, the Wine cooler market is expected to grow rapidly during the forecasted period in Europe.
Key Developments of Wine Cooler Market
- In December 2023, LG developed an LG SIGNATURE 65 Bottle Wine cellar with instant view premium wine storage. The product offers advanced technology with various features such as protection from UV rays, humidity control, and low energy consumption, which are enhanced by an elegant design.
Global Wine Cooler Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 2.81 Bn. |
Forecast Period 2024-32 CAGR: |
6.85% |
Market Size in 2032: |
USD 5.1 Bn. |
Segments Covered: |
By Type |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Application
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Wine Cooler Market by Type
5.1 Wine Cooler Market Overview Snapshot and Growth Engine
5.2 Wine Cooler Market Overview
5.3 Free-Standing
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2017-2032F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Free-Standing: Grographic Segmentation
5.4 Countertop
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2017-2032F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Countertop: Grographic Segmentation
5.5 Built-In
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2017-2032F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Built-In: Grographic Segmentation
Chapter 6: Wine Cooler Market by Application
6.1 Wine Cooler Market Overview Snapshot and Growth Engine
6.2 Wine Cooler Market Overview
6.3 Residential
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2017-2032F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 Residential: Grographic Segmentation
6.4 Commercial
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2017-2032F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Commercial: Grographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Positioning
7.1.2 Wine Cooler Sales and Market Share By Players
7.1.3 Industry BCG Matrix
7.1.4 Ansoff Matrix
7.1.5 Wine Cooler Industry Concentration Ratio (CR5 and HHI)
7.1.6 Top 5 Wine Cooler Players Market Share
7.1.7 Mergers and Acquisitions
7.1.8 Business Strategies By Top Players
7.2 ALLAVINO COMPANY
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Operating Business Segments
7.2.5 Product Portfolio
7.2.6 Business Performance
7.2.7 Key Strategic Moves and Recent Developments
7.2.8 SWOT Analysis
7.3 AVANTI PRODUCTS INC.
7.4 ELECTROLUX AB
7.5 DANBY APPLIANCES INC.
7.6 MARVEL REFRIGERATION
7.7 VIKING RANGE CORPORATION
7.8 HAIER GROUP
7.9 LG ELECTRONICS
7.10 VINOTEMP
7.11 PERLICK CORPORATION
7.12 ROBERT BOSCH LLC
7.13 WHYNTER LLC
7.14 ULINE COMPANY
7.15 LANBO INTERNATIONAL INC.
7.16 LIEBHERR
7.17 OTHER MAJOR PLAYERS
Chapter 8: Global Wine Cooler Market Analysis, Insights and Forecast, 2017-2032
8.1 Market Overview
8.2 Historic and Forecasted Market Size By Type
8.2.1 Free-Standing
8.2.2 Countertop
8.2.3 Built-In
8.3 Historic and Forecasted Market Size By Application
8.3.1 Residential
8.3.2 Commercial
Chapter 9: North America Wine Cooler Market Analysis, Insights and Forecast, 2017-2032
9.1 Key Market Trends, Growth Factors and Opportunities
9.2 Impact of Covid-19
9.3 Key Players
9.4 Key Market Trends, Growth Factors and Opportunities
9.4 Historic and Forecasted Market Size By Type
9.4.1 Free-Standing
9.4.2 Countertop
9.4.3 Built-In
9.5 Historic and Forecasted Market Size By Application
9.5.1 Residential
9.5.2 Commercial
9.6 Historic and Forecast Market Size by Country
9.6.1 U.S.
9.6.2 Canada
9.6.3 Mexico
Chapter 10: Europe Wine Cooler Market Analysis, Insights and Forecast, 2017-2032
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Type
10.4.1 Free-Standing
10.4.2 Countertop
10.4.3 Built-In
10.5 Historic and Forecasted Market Size By Application
10.5.1 Residential
10.5.2 Commercial
10.6 Historic and Forecast Market Size by Country
10.6.1 Germany
10.6.2 U.K.
10.6.3 France
10.6.4 Italy
10.6.5 Russia
10.6.6 Spain
10.6.7 Rest of Europe
Chapter 11: Asia-Pacific Wine Cooler Market Analysis, Insights and Forecast, 2017-2032
11.1 Key Market Trends, Growth Factors and Opportunities
11.2 Impact of Covid-19
11.3 Key Players
11.4 Key Market Trends, Growth Factors and Opportunities
11.4 Historic and Forecasted Market Size By Type
11.4.1 Free-Standing
11.4.2 Countertop
11.4.3 Built-In
11.5 Historic and Forecasted Market Size By Application
11.5.1 Residential
11.5.2 Commercial
11.6 Historic and Forecast Market Size by Country
11.6.1 China
11.6.2 India
11.6.3 Japan
11.6.4 Singapore
11.6.5 Australia
11.6.6 New Zealand
11.6.7 Rest of APAC
Chapter 12: Middle East & Africa Wine Cooler Market Analysis, Insights and Forecast, 2017-2032
12.1 Key Market Trends, Growth Factors and Opportunities
12.2 Impact of Covid-19
12.3 Key Players
12.4 Key Market Trends, Growth Factors and Opportunities
12.4 Historic and Forecasted Market Size By Type
12.4.1 Free-Standing
12.4.2 Countertop
12.4.3 Built-In
12.5 Historic and Forecasted Market Size By Application
12.5.1 Residential
12.5.2 Commercial
12.6 Historic and Forecast Market Size by Country
12.6.1 Turkey
12.6.2 Saudi Arabia
12.6.3 Iran
12.6.4 UAE
12.6.5 Africa
12.6.6 Rest of MEA
Chapter 13: South America Wine Cooler Market Analysis, Insights and Forecast, 2017-2032
13.1 Key Market Trends, Growth Factors and Opportunities
13.2 Impact of Covid-19
13.3 Key Players
13.4 Key Market Trends, Growth Factors and Opportunities
13.4 Historic and Forecasted Market Size By Type
13.4.1 Free-Standing
13.4.2 Countertop
13.4.3 Built-In
13.5 Historic and Forecasted Market Size By Application
13.5.1 Residential
13.5.2 Commercial
13.6 Historic and Forecast Market Size by Country
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of SA
Chapter 14 Investment Analysis
Chapter 15 Analyst Viewpoint and Conclusion
Global Wine Cooler Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 2.81 Bn. |
Forecast Period 2024-32 CAGR: |
6.85% |
Market Size in 2032: |
USD 5.1 Bn. |
Segments Covered: |
By Type |
|
|
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
|
Frequently Asked Questions :
The forecast period in the Wine Cooler Market research report is 2024-2032.
Allavino Company, Avanti Products Inc, Electrolux AB, Danby Appliances Inc, Marvel Refrigeration, Viking Range Corporation, Haier Group, LG Electronics, Vinotemp, Perlick Corporation, Robert Bosch LLC, Whynter LLC, Uline Company, Lanbo International Inc, Liebherr, and other major players.
The Wine Cooler Market is segmented into Type, Application, and region. By Type, the market is categorized into Free-Standing, Countertop, and Built-In. By Application, the market is categorized into Residential and Commercial. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Wine coolers are electronic consumer appliances or goods that are used for cooling or lowering the temperature of the wine. They store and chill wine to perfection and keep them healthy and perfect tasting.
The Wine Cooler Market Was Valued at USD 2.81 Billion in 2023 and is Projected to Reach USD 5.1 Billion by 2032, Growing at a CAGR of 6.85% from 2024 to 2032.