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 market 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.
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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
Technology Insights:
Compressor
Thermoelectric
Structure Insights:
Dual Zone
Single Zone
Others
Distribution Channel Insights:
Offline
Online
Application Insights:
Commercial
Residential
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
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/wine-cooler-market 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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