Global Wine Cooler Market Size study & Forecast, by Type (Free-Standing, Counter-Top, and Built-In), Technology (Compressor-based and Thermoelectric-based), Distribution Channel (Offline Channel and Online Channel), and Regional Analysis, 2023-2030

Global Wine Cooler Market Size study & Forecast, by Type (Free-Standing, Counter-Top, and Built-In), Technology (Compressor-based and Thermoelectric-based), Distribution Channel (Offline Channel and Online Channel), and Regional Analysis, 2023-2030

Global Wine Cooler Market is valued approximately at USD 2.6 billion in 2022 and is anticipated to grow with a growth rate of more than 6.06% over the forecast period 2023-2030. Wine coolers refer to electronic consumer appliances specifically designed for cooling and regulating the temperature of wine. These devices primarily use refrigeration to store and preserve bottled wine, ensuring they provide precise temperature and humidity levels tailored to the specific needs of various types of wines. The market growth is driven by key factors such as increasing consumption of wine across the world, rise in the availability of uniquely optimized wine storage products, and rise in the health benefits offered by wine.
As per Statista, in 2022, global wine consumption was approximated at 232 million hectoliters, reflecting a decrease from the 2017 figure of 247 million hectoliters. Wine, an alcoholic beverage typically crafted through the fermentation of grapes, may also be produced from alternative sources like rice, plum, cherry, pomegranate, and elderberry. The roots of wine production can be traced back to as early as 6000 BC, originating in the country of Georgia. Furthermore, the leading global wine-producing nations are Italy, France, and Spain. In the year 2022, Italy's wine production reached 49.8 million hectoliters. The overall worldwide wine production for the same year was estimated at approximately 258 million hectoliters. Despite the overall growth in global wine production over the past two decades, there has been a reduction in the surface area covered by vineyards during this period. However, short-term storage alternative in comparison to wine cellars, and rise in the complications in the wine-storage due to the increased dryness in the enclosed cooler stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Wine Cooler Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The wine coolers market is led by the Asia-Pacific region, driven by the increasing popularity of beverages among the youth in China, India, and Indonesia. This dominance is further fueled by the availability of specially optimized wine storage products, the recognition of health benefits associated with wine, including cholesterol reduction and heart health, and the overall rise in disposable income in the region. North America is anticipated to be a key growth region for the wine coolers market, attributed to the growing significance of installing wine coolers to extend the shelf life of beverages in this area.

Major market player included in this report are:
LG Corporation
Dunavox Kft.
The Legacy Companies (Avanti Products Inc)
Haier Group Corporation
Shenzhen VRBON Electrical Appliance Co., Ltd.
Investor AB (Electrolux AB)
Eurocave SAS
La Sommeliere Int. SAS
Liebherr Group
Caple Industrial Solutions

Recent Developments in the Market:
 In November 2022, Equator Advanced Appliances introduced the Dual Zone 52-Bottle Wine Refrigerator, known as the WR 52 model. This product boasts premium features designed to ensure optimal storage conditions for all bottles, safeguarding them from external factors.
 Also in November 2022, LG unveiled the LG Signature Smart Wi-Fi Wine Cellar Refrigerator, capable of holding up to 65 bottles. Highlighting three distinct temperature zones, this innovative product enables consumers to maintain ideal storage conditions for reds, whites, and champagnes.
 In August 2021, Signature Kitchen Suite, the luxury brand under LG Electronics, expanded its line of wine refrigerators with a sophisticated 24-inch under-counter model. Recognized as a rapidly growing premium brand, Signature Kitchen Suite is celebrated for its commitment to innovation in the built-in kitchen appliance sector.

Global Wine Cooler Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Technology, Distribution Channel, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Free-Standing
Counter Top
Built-In

By Technology:
Compressor-based
Thermoelectric-based

By Distribution Channel:
Online
Offline

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned

LG Corporation
Dunavox Kft.
The Legacy Companies (Avanti Products Inc)
Haier Group Corporation
Shenzhen VRBON Electrical Appliance Co., Ltd.
Investor AB (Electrolux AB)
Eurocave SAS
La Sommeliere Int. SAS
Liebherr Group
Caple Industrial Solutions

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