The global wine cooler market size is anticipated to reach USD 3.17 billion by 2025, according to a new report by Radiant Insights, 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.
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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.
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
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR's Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Wine Cooler Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Wine Cooler Market
3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Wine Cooler Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2018 & 2025
5.2. Free-standing
5.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.3. Countertop
5.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
5.4. Built-in
5.4.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Chapter 6. Wine Cooler Market: Application Estimates & Trend Analysis
6.1. Application Movement Analysis & Market Share, 2018 & 2025
6.2. Residential
6.2.1. Market estimates and forecast, 2015 - 2025 (USD Million)
6.3. Commercial
6.3.1. Market estimates and forecast, 2015 - 2025 (USD Million)
Continued…
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