Recent Fact.MR data shows that demand for built-in wine coolers is predicted to rise in 2021. Sales are expected to rise once the impact of COVID-19 wears off. A new industry report from Fact.MR tracks global sales of built-in wine coolers for 2016-2020. The report offers an economic forecast for the decade 2021-2031.
Key Developments in Built-in Wine Coolers
In July 2020, Ardesto announced the introduction of two new models in the WCBI-M44 and WCF-M34 categories of large household appliances. An Ardesto WCF-M34 is equipped with a built-in wine cooler and features a glass door and metal shelves.
In addition, Ardesto WCBI-M44 features an integrated wine cooler that can cool down to 44 bottles with glass doors, wooden shelves, and two temperature zones. Furthermore, the coolers can be controlled by touch screens for the desired temperature between 5 degrees and 18 degrees, which comes with a LED backlight, warning systems for doors left open, and can detect temperature deviations.
Another instance involves KAFF Wine Coolers, which are made of superior quality materials, ensuring that the appropriate temperature is maintained for the integrity of the wine. In addition to dual temperature settings, the device's wine cooler offers different temperatures for red and white wines. This wine cooler features large wooden shelves with sliding doors, electrical protection with an anti-UV grade 1 glass, a compressor with a fan, a black glass door, and a black casing with a light.
Built-in Wine Coolers- Introduction
The global market for built-in wine coolers is expected to witness notable growth during the forecast period. A built-in wine cooler is a prominent way of storing and exhibiting wines, especially in wine shops and households.
The need for keeping wines at the ideal temperature for optimum aging is driving the global market. The built-in wine coolers facilitate maintaining the taste of wines for a longer period of time.
The popularity of wine is rising in countries like the US, UK, Spain, Italy, etc. will further fuel the demand for built-in wine coolers. There are two types of technology-based built-in wine coolers – Compressor based and Thermoelectric based. The compressor-based built-in wine cooler is mainly for commercial use. The thermoelectric-based built-in wine coolers are mainly used by the household sector due to affordability and energy efficiency.
Dual-zone built-in wine coolers are widely used in the commercial sector due to their high storage capacity while the single-zone built-in wine coolers are used in the home use sector. The commercial segment accounts for higher revenue as compared to the household segment and this trend is anticipated to continue in the forthcoming years.
Increasing Wine Consumption Due to Perceived Health Benefits is projected to Boost Market Growth
Wine consumption is becoming highly popular amongst the young population worldwide, as it is perceived that wine helps to build good immunity, prevents bone fatigue, and improves concentration. This factor is expected to drive the demand for built-in wine coolers.
Further, rising awareness about the health benefits like lowering cholesterol and strengthening of the heart will boost wine consumption. The consumption of wine is growing in restaurants, especially in countries like Mexico
The US and Italy owing to its various health benefits like it boost immunity, helps in weight-loss, etc. It is also believed that wine helps in controlling blood sugar and also preserves human memory.
These factors will act as significant drivers of market growth for the commercial sector. Other factors such as increasing disposable income, high preference of wine among the young generation, the increasing popularity of social drinking will be key influencers for the expansion of built-in wine coolers sales.
Hobbyists who are serious wine collectors, for them the traditional wine racks ceased to be a good option. The hobbyists mainly collect various kinds of wines and store them to exhibit them. Demand for built-in wine coolers from these hobbyists will accelerate the market during the forecast period.
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Built-In Wine Coolers – Regional Outlook
The leading market for wine coolers in Europe, followed by North America. These two regions are expected to maintain the lead throughout the forecast period. Asia is expected to be the fastest-growing market for built-in wine coolers owing to the increasing awareness about the health benefits of wine.
The Asian market is expected to offer a significant growth opportunity to prospective built-in wine coolers manufacturers, with countries like India and China, experiencing a noteworthy increase in wine consumption.
Built-In Wine Coolers – Key Players
The global Built-in wine coolers market is fragmented due to the presence of several market players. Haier holds a significant share of the global Built-in wine coolers market and is a leading manufacturer in Asia, especially China.
An Adaptive Approach to Modern-day Research Needs
Key players in the market are:
- Electrolux Appliances
- Zero Zone
- Ugur Cooling
- MCA Corporation
- GE Appliances
The research report presents a comprehensive assessment of the built-in wine coolers market and contains thoughtful insights, facts, and historical data, as well as statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Built-in wine coolers market segments such as geography, product type, and application.
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The market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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The market regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Russia)
- East Asia (China, Japan, and South Korea)
- South Asia (India, Thailand, Indonesia, Malaysia)
- The Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report on built-in wine coolers is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with Built-in wine coolers market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Built-in wine coolers' market segments and geographies.
Built-in wine coolers: Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and Products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Built-In Wine Coolers – Segmentation
The global Built-in wine coolers market can be segmented on the basis of type, application, the technology used, and geographical regions.
Based on type, the market can be segmented as:
- Dual Zone built-in wine coolers
- Single Zone built-in wine coolers
On the basis of application, built-in wine coolers are classified as:
- Commercial Use
- Home Use
The market can be segmented, based on the technology, as:
- Thermoelectric Built-In Wine Coolers
- Compressor Built-In Wine Coolers
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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