About the Report
The global smart wine cellar market is gaining traction steadily and is expected to ascend at around 8.5% CAGR through 2031. Rise in application in restaurants, bars, and other key commercial sectors, and advancements in manufacturing, such as AI-powered wine cellars, are expected to spearhead industry growth over the coming years. Demand for small-sized wine cellars in residential spaces has also seen an increase in recent years.
The latest report on the developments in the smart wine cellar market by Fact.MR offers a detailed insight of the global industry along with the new trends, growth scope, and demand-supply trajectories during the forecast period of 2021 to 2031.
According to the report, high demand for smart wine cellar with capacity up to 1500 bottles will become prominent, while North America, Europe, and Asia Pacific will lead in the global industry.
Historical Vs. Future Outlook on Smart Wine Cellar Sales
Demand grew steadily over the past years with innovation in smart wine cellars, advancements in manufacturing infrastructure, and incorporation of cutting-edge technologies by leading players.
Increase in demand for smart wine cellars in commercial spaces as well as the residential sectors further boosted sales over the past decade. According to Fact.MR, the industry expanded at over 5% CAGR during the last 5 years from 2016 to 2020.
As preference for various online and offline sales channels is becoming prominent, suppliers of smart wine cellars are coming across more lucrative opportunities around the world.
Despite facing a decline due to the COVID-19 pandemic, demand from the residential sector is projected to spiral upwards in the post-pandemic years, with the market projected to surge ahead at around 8.5% CAGR through 2031.
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Why is Requirement for Smart Wine Cellars Increasing in Restaurants?
Smart wine cellars have wide application in restaurants owing to their various advantages, such as-
- Eliminates mold and dust
- Monitor humidity levels
- Maintain proper humidity level
- Provides enhanced cooling effect
As a result, demand from restaurants is expected to bolster sales further in the foreseeable future.
What are the Key Challenges Faced by Smart Wine Cellar Manufacturers?
Some of the key factors restraining the growth of the smart wine cellar market are-
- Smart wine cellars are quite expensive and often not affordable by small to medium residential or commercial consumers
- Additional installation, maintenance, and replacement costs
- Costly storage and transportation
- Automation of climate cellar monitoring
However, manufacturers are investing their time and effort in order to bring more cost-effective and advanced variety of smart wine cellars in the near future.
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Why are Sales of Smart Wine Cellars Gaining Traction in the United States?
Backed by a highly advanced commercial sector and manufacturing infrastructure, the United States is a hotspot for smart wine cellar manufacturers. According to Fact.MR, the United States is expected to lead in North America through 2031.
According to a report titled “The Travel, Tourism, and Hospitality Industry in the United States”, published by SelectUSA, the U.S. travel, tourism, and hospitality industry exports accounted for 11% of all U.S. exports, and nearly a third (32%) of the U.S. service exports. As stated in the report, expenditure by international visitors in the United States surpassed US$ 251 billion in 2017. These represent growing opportunities for smart wine cellar suppliers in the U.S.
How Lucrative is Germany for Smart Wine Cellar Manufacturers?
Germany is the leading market in Europe for smart wine cellars, and is expected to sustain its position throughout the forecast period. Highly developed manufacturing hubs and increase in demand from commercial & residential sectors are augmenting market growth in Germany.
According to a report published by the European Commission (EC), Germany’s hospitality industry is one of the leading industries in the European Union (EU), accounting for more than 30% accommodation in hotels. As stated in the report, leisure holidays spent in hotels contributed over 20% of the EU industry in 2018. These figures indirectly indicate the opportunities for smart wine cellars in Germany over the coming years.
What’s Fueling Demand for Smart Wine Cellars in China?
China is the dominant country in the world’s fastest-growing market for smart wine cellars - Asia Pacific, and is expected to prevail in the position in the near future. Demand from bars, restaurants, and residential sectors, and adoption of advanced technologies by leading players are catering to market expansion in China.
According a report published by the International Trade Administration, China’s restaurant industry is one of its best prospect industries, while China’s foods & beverages sector reached approximately US$ 595 billion in 2019, a 7.8% increase over 2018. As stated in the report, quick-service restaurants (QSR) in China are set to remain strong over the coming years. No doubt that this will create new avenues for smart wine cellar manufacturers in China.
Will India Witness Rising Demand for Smart Wine Cellars?
India has been taking the limelight for manufacturers of smart wine cellars since the past decade, and is likely to exhibit hegemony throughout the forecast period. Growing manufacturing sector and steady demand from residential & commercial sectors are spurring growth in India.
According to a report published by the National Restaurant Association of India (NRAI), the Indian restaurant industry is set to flourish further with governmental investments and steady demand over the coming years.
Though the second wave of the COVID-19 pandemic may decline the market value a bit, overall growth is set to gain prominence in the long run. According to Invest India, by 2025, India’s food & restaurant industry will attract more than US$ 30 billion investments. This, in turn, will widen the growth scope for smart wine cellar manufacturers in the country.
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Which Capacity of Smart Wine Cellars is Most Sought-after?
Presently, smart wine cellars with capacity of up to 500 bottles are most demanded in terms of capacity. According to Fact.MR, this segment will maintain its lead owing to different factors, such as-
- Cost effective
- Easier transition
- Hassle-free installation & maintenance
- Reduced replacement cost
Other key segments in terms of capacity are smart wine cellars with capacity up to 100 bottles, up to 1,500 bottles, and more than 1,500 bottles.
An Adaptive Approach to Modern-day Research Needs
With the competition getting stricter, smart wine cellar manufacturers are launching a wider variety of products more frequently.
- Haier Inc. launched its new range of Wine Bank 50 Series 7, Wine Coolers, and others a couple of years.
- Electrolux AB recently launched its new Electrolux EI24WC10QS24 UnderCounter Wine Cellar.
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Historical Data Available for
USD Million for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Customization & Pricing
Available upon Request
Market Segmentation by Category
- Up to 500 Bottle Smart Wine Cellars
- Up to 1,000 Bottle Smart Wine Cellars
- Up to 1,500 Bottle Smart Wine Cellars
- More than 1,500 Bottle Smart Wine Cellars
- Residential Smart Wine Cellars
- Commercial Smart Wine Cellars
- Smart Wine Cellars for Restaurants & Bars
- Smart Wine Cellars for Hotels & Others
- Online Sales of Smart Wine Cellars
- Offline Sales of Smart Wine Cellars
- Smart Wine Cellars Sold at Specialty Stores
- Smart Wine Cellars Sold at Mega Retail Stores
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
Smart Wine Cellar Market - Scope of Report
A recent study by Fact.MR on the smart wine cellar market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth.
This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with Smart wine cellar. The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.
A detailed assessment of the value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies manufacturing smart wine cellars, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including demand, product development, revenue generation, and sales of Smart wine cellar across regions.
A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Questions Answered in Report
- Which are the most lucrative markets for smart wine cellars?
- Which factors will impact demand for smart wine cellars?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the smart wine cellar market?
- What are the winning strategies of stakeholders in the landscape?
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on demand for Smart wine cellar has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the smart wine cellar market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.
- FAQs -
Some of the top companies providing smart wine cellars are Haier Inc., EuroCave SAS, and Cellar Solutions Inc. These companies manufacture many variants such as compressor wine cellars, thermoelectric wine cellars, Wi-Fi-enabled smart wine cellars, mob
China, the United States, Germany, the United Kingdom, Japan, Italy, France, and a few others are lucrative markets for smart wine cellars, and are expected to dominate throughout the forecast period.
Presently, adoption of small wine cellars is high in the residential sector which accounts for more sales in terms of application, and is expected to keep leading over the forecast period of 2021 to 2031.
Presently, key distribution channels for stain smart wine cellars are online and offline stores, which are expected to fuel sales over the coming years.
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Is the market research conducted by Fact.MR?
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.
What research methodology is followed by Fact.MR?
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.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.