Wine Cabinets Market

Global Wine Cabinets Market Outlook

The global wine cabinets market is estimated at USD 4,616.5 Mn in 2022 and is projected to reach USD 7,434.1 Mn by 2032, growing at a CAGR of 4.8 % from 2022 to 2032.

Base Year Value (2021A)	USD 4,413.5 Mn
Estimated Year Value (2022E)	USD 4,616.5 Mn
Projected Year Value (2032F)	USD 7,434.1 Mn
Value CAGR (2022-2032)	4.8%
Collective Value Share (US, UK, China) 2022: Top 3 Countries	45%
Key Companies Profiled	Enofrigo Liebherr PERLICK Eurocave Electrolux SUB-ZERO Avanti EDGESTAR Danby HAIER

The wine cabinets market accounts for 18% of total bar cabinets in 2022. The Wine cabinets market is expected to expand its operations in next few years, owing to an increase in consumer spending capacity and easy availability of different structures of wine cabinets. The market is expected to reach an incremental opportunity of USD 2,817.6 Mn during the assessment period 2022-2032.

Consumers use wine cabinets racks to collect and store wine bottles for long term and short term use. Wine cabinets are shelves used to store wine systematically maintaining its optimal taste at the right temperature which boosts its market.  Wine cabinets available in different shapes, sizes and colors makes them visually appealing and elaborates wine collection of consumers.

Manufacturers are focusing on offering cabinets of various capacities and styles made from different materials like wood, plastic metal specific to different consumer needs.

2017-2021 Global Wine Cabinets Market Outlook in Comparison to 2022-2032 Growth Forecast

Wine cabinets are used to store several bottles of wine in a perfect atmosphere to improve its taste by eliminating the impact of humidity, temperature. The storage of wine affects its taste and is responsible to define its quality and aroma in long term. Using wine cabinets boosts the chances of maintaining good quality wine. Wine cabinets are designed specifically to increase the accessibility and visibility of labelling on the bottles. As a result, specifically crafted cabinets that fulfil all consumer requirements are expected to push demand in the wine cabinets market.

Drinking wine is associated with the affluence of individuals, as a result, consumers are ready to spend on wine cabinets to emphasize their social standing. People take pride in showing their vintage wine collection to visitors and this in turn is expected to propel the demand for wine cabinets in the market during the assessment year. Manufacturers are offering wine cabinets with advanced temperature controls to increase the shelf life of wine.

Various benefits come attached with wine consumption including reduced risk of heart diseases and inflammation, antioxidants in the wine are expected to prolong human life. Informed consumers are well aware of these advantages as a result wine consumption is expected to rise in the near future which in turn is expected to impact the demand for wine cabinets in the market. Key players are investing in research and developmental activities to offer cabinets that protect the wine from harmful UV rays and ensure that they do not mess up with the normal taste, aroma and flavour of the wine.

Wine Cabinets Gaining Traction in the Industry

Wine cabinets are increasingly used to store wine to preserve its natural, aroma and flavor at optimal temperature based on its ingredients. Manufacturers are producing elegant wine cabinets with various features such as stainless steel trim, soft glowing LED lighting these wine cabinets act as home décor to enhance the feel of a home by a multitude.

Key Manufacturers are offering adjustable slide-out wood racks to fit in different sized wine bottles. In addition to features like left swinging or right swinging door to increase possibilities of installation. As a result demand for wine cabinets that offer additional features that enable ease of use and prolong the shelf life of wine is expected to propel in near future.

Restraining Factors of Wine Cabinets Market

Wines are expensive and hence are consumed by a specific segment of society who can afford to splurge on high-end drinks. Huge investment is required for the installation of wine cabinets in addition to the rent of storage room, electricity bills and refrigeration which makes installing a wine cabinet an expensive affair. This is expected to affect the demand for wine cabinets during the assessment period. Stringent government regulations and the nuisance of fluctuating taxation structures pertaining to the wine and spirits trade is expected to adversely affect the demand for the wine cabinets market.

Country-wise Insights

How is the US performing in the Market?

In North America, the U.S. has the highest value share contribution to the overall market revenue. This is attributed to consumer preference for high-quality wines and in-store wine testing. The demand for wine cabinets is estimated to be valued at USD 1,207 Mn in the year 2022 in the US. The U.S. holds a market share of 80% in the North American wine cabinet in 2022 and is anticipated to grow steadily at a CAGR of 5.7% during the forecast period and reach a market value of USD 2,111 Mn in 2032.

Which is the dominant country in Asia?

The demand for wine cabinets is expected to account for maximum share in the global market change in consumer lifestyle and rising no of millennials developing an inclination towards consumption of wine boosts the demand of Wine cabinet in countries like India and China.

The demand for wine cabinets is estimated to be valued at USD 228 Mn in the year 2022 in India. Anticipated to grow rapidly at a CAGR of 5% during the forecast period and reach a market value of USD 371 Mn in 2032.

Category-wise Insights

What type of Wine Cabinets is projected to show maximum consumption In Wine Cabinets Market?

Free standing Wine cabinets are expected to bring in maximum revenue generation as they are increasingly preferred by consumers who stalk wine bottles in large amounts Manufacturers are offering free standing wine cabinets that are rust free, can withstand weight. These cabinets are custom made to go well with already established home décor.

Competitive Landscape

Wine cabinet manufacturers are exploring new innovative designs. To stand out among the competition many companies are offering installation services which is translating into strong sales. Manufacturers in the wine cabinets market are focusing on new product

• Enofirgo offers wine cabinets that can be set at specific temperatures at which wine tastes the best. They offer a handbook which provides detailed analysis of different wine types and their ingredients which needs to be preserved at certain temperatures for optimal taste
• Vigilantinc offers traditional wine furniture as well as wine furniture made from contemporary metal, glass or acrylic according to consumer requirements

Global Wine Cabinets Market by Category

• By Product Type, Wine Cabinets Market is segmented as:

  • Free Standing Wine Cabinets
  • Integrated Under Counter Wine Cabinets
  • Built in (slot in)  Wine Cabinets
  • Walk-in Cellars
  • Other Models

• By Price Range, Wine Cabinets Market is segmented as:

  • Economy Pricing
  • Mid-Range Pricing
  • Premium Pricing

• By Application, Wine Cabinets Market is segmented as:

  • Residential
  • Hotels
  • Restaurants
  • Pubs/Bars
  • Others (supermarket, wine retail store, commercial building, etc.)

• By Technology, Wine Cabinets Market is segmented as:

  • Compressed-Based Wine Cabinets
  • Electric-Based Wine Cabinets