An Incisive, In-depth Analysis on the Wine Cooler Market
This study offers a comprehensive, 360 degree analysis on the Wine Cooler market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Wine Cooler market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Wine Cooler Sales to Soar Through 2027; Freestanding Installation Type a Key Target Segment for Wine Cooler Manufacturers
Global Wine Cooler Market: From an estimated market size of US$ 2,117.3 Mnin 2018, the value sales of wine coolers are expected to reach US$ 3,521.5 Mn by 2027, with at a CAGR of 5.8%
The US is the largest consumer of wine, which is expected to grow further during the forecast period. Over the past few years, the US wine industry has experienced the continuous trend of increasing volumes and higher prices. Nowadays, consumers are inclining towards high-price segments that provide better-quality of products. Wine is a big business in California. It is the world’s fourth leading producer of wine after France, Italy and Spain. Moreover, Italy is the largest and most diversified wine-producing country in the world owing to its favourable climate, the varieties of grape available in the country and its geographical characteristics, which makes it the ideal place for the production of high-quality wines. Thus, the charm of wine and the significance of its preservation have inspired various manufacturers to develop a wide range of wine coolers with advanced technological design masterpieces.
The numerous wines and their different organoleptic qualities require optimal preservation to maintain their characteristics and ensure that their taste does not change over time. Thus, companies are developing novel wine coolers with optimal temperatures and ideal humidity levels. Moreover, with innovative technologies solutions and optimised electronics, companies are improving the performance of wine coolers and introducing them frequently into the market to expand their global market footprints.
For instance, in 2016, Smeg UK Ltd. introduced two new wine coolers with integrated & under counter versions equipped with novel cooling technology. The undercounter installation type wine cooler has an impressive 38-bottle capacity with two separate compartments. These two wine coolers are easily controlled by touchscreen technology. The two interior compartments are controlled separately and can be set at different temperatures, which insures that different types of wines can be stored in the ideal environment.
Global Wine Cooler Market: Targeting Millennials is the Primary Aim of Wine Traders
At present, nearly all millennials are aged 21 years and above, thus, they are developing their drinking habits and overall attitudes. The amount of wine that they drink is above conventional standards. In addition, they want to explore a larger variety of grapes from different regions as well as the different methods that are used for the production of wine. According to an independent study by Florida House Experience, a drug and alcohol rehab centre, millennials drink almost half of all wine available in the U.S. The study also stated that around half of all millennial women prefer wine more than any other alcoholic drink. In addition, according to the Wine Market Council, in 2015, American millennials consumed 42% of all the wine in the US, which is more than any other age group.
Global Wine Cooler Market: The Freestanding Segment is Primarily Driven by the Affordable Price, Portability and Adjustable Size of These Products
By installation type, the global wine cooler market is segmented into freestanding, built-in and countertop. Among all these installation type segments, the freestanding segment is estimated to account for the relatively highest value share in the wine cooler market. This segment is expected to remain dominant in the global wine cooler market during the forecast period. In global wine cooler market, the freestanding segment estimated to account for a 57.0% value share in 2018, and is expected to attain a CAGR of 5.5% during the forecast period.
In global wine cooler market, built-in segment is expected to be closely follow by the countertop segment in terms of share and growth. The built-in segment is estimated to account for a 35.2% value share in 2018. In the global wine cooler market, the built-in segment is expected to register the highest CAGR of 6.3% during the forecast period. Manufacturers in the wine cooler market are continuously introducing new freestanding wine coolers with taller and wider dimensions, which enables for more space with more temperature zones in wine coolers.
For instance, in 2015, Vinotemp Company introduced a new wine cooler ‘Vinotemp Dual-Zone Wine Cooler’ with a 300-bottle capacity and features such as dual temperature zone cooling and front exhaust for built-in wine coolers or freestanding wine coolers.
The global wine cooler market is further segmented on the basis of bottle capacity into less than 10, 10 to 30 bottles, 31 to 50 bottles, 51 to 300 bottles and 301 & above bottles. Among all these bottle capacity segments, the 31 to 50 bottle capacitysegment is expected account for the largest share in terms of value in the wine cooler market. The 10 to 30 bottles segment estimated to account for a 34.2% value share in 2018, and is expected to register a CAGR of 6.1% during the forecast period. However, the 51 to 300 bottle capacity segment is expected to register significant growth during the forecast period. The segment is expected to lose 56 BPS in its market share by 2027 over 2017.
The global wine cooler market is primarily considered by a large number of regional and multinational companies. The detailed profiles of companies are also included in the global wine cooler market report to evaluate their strategies, key product offerings and recent developments.
Some of the key players profiled in the global wine coolermarket study include Climadiff; Uline Company; Shenzhen VRBON Electrical Appliance Co., Ltd.; Siemens AG; Whynter LLC; LG Electronics Inc.; Robert Bosch GmbH; Allavino Company; Electrolux AB; Avanti Products, Inc.; Danby Appliances Inc.; AGA Marvel; Viking Range, LLC; Donlert Electrical Co Ltd.; Newari Company; Viking Range, LLC; The EuroCave Group; Haier Group Corporation; Vinotemp; Perlick Corporation and General Electric Company.
This report provides the forecast and analysis of the global wine cooler market. It provides analysis on the basis of historical data and forecast from 2018 to 2027 in terms of revenue (US$ Mn). The report reveals the market dynamics in seven geographic segments along with market analysis for the current and future scenario. In addition, it includes drivers, restraints and recent trends of the wine cooler market. The report also comprises opportunities for the manufacturers of wine coolersand highlights the value chain analysis in detail. The study demonstrates the market dynamics and trends across regions that are expected to influence the current status as well as the future prospects of the wine cooler market.
The report studies the global wine cooler market for the period 2018–2027. The prime objective of this report is to offer quantitative & qualitative insights and study key market trends pertaining to the global wine cooler market that gradually help transform businesses.
The market numbers have been assessed by carefully scrutinising the wine cooler spending of countries in all the six key regions for the current year, as well as the historical performance of the market. Market size and forecast for each segment in the wine cooler market has been provided in the context of regional markets. All the segmentation of the wine cooler market has been considered after the appropriate secondary research and revalidation of the data obtained through interviews with key thought leaders and industry experts. The market has been forecast based on constant currency rates. The report includes the revenue generated from the sales of wine coolers across all regional economies.
The report begins with an executive summary intended to provide a clear perspective about the market to the reader. It is then followed by an overview of the wine cooler market and provides the definition of the wine cooler market and an analysis of the drivers, restraints, opportunities and key trends of the market. The sections that follow includes the analysis of the wine cooler market by bottle capacity, installation type, temperature zones, end user and a country-level analysis.
On the basis of bottle capacity, the global wine cooler market is segmented as less than 10, 10 to 30, 31-50, 51-300 and 301 and above. The global wine cooler market is further segmented on the basis of installation type. The installation type segment includes freestanding, countertop and built-in. The global wine cooler market is also segmented by temperature zones into double zones, single zones, triple zones and others. The wine cooler market is also segmented on the basis of end user as residential and commercial.
All the above sections evaluate the market on the basis of various factors affecting the market, which cover the present scenario as well as future prospects. For market data analysis, the report considers 2017 as the base year, with market numbers estimated for 2018 and forecast made for 2018–2027. All the segmentation of the wine cooler market has been considered after appropriate secondary research and revalidation of the data obtained through interviews with key thought leaders in the industry. The market has been forecast based on constant currency rates.
The next section of the report highlights the market by region and provides the market outlook for 2018–2027. The study investigates the regional Year-On-Year (Y-o-Y) growth of the wine cooler market. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan. The report evaluates the present scenario and growth prospects of the regional market for 2018–2027.
The wine cooler market numbers have been assessed based on sales and weighted average pricing by product type. The aggregate revenue is derived through the weighted average of the pricing trends in different countries. The market size and forecast for each segment has been provided in the context of the country. The market has been analysed based on the expected demand and current spending scenario. Prices considered for the calculation of revenue are average country prices obtained through primary quotes from numerous regional manufacturers, suppliers and distributors of wine coolers. All the key product types have been considered on the basis of secondary sources and feedback from primary respondents. Country-wise demand patterns have been considered while estimating the adoption of wine coolers across various regions. The market numbers for all the regions by bottle capacity, installation type, temperature zones and end user have been derived using the bottom-up approach, which is cumulative of the demand from each country. The company-level wine cooler market share has been derived on the basis of revenues reported by key manufacturers. The wine cooler market has been forecast based on constant currency rates. Given the characteristics of the market, we have triangulated the outcome on the basis of three different types of analysis: based on supply side, demand side and the impact of macro-economic factors on the Wine cooler market. In addition, it is imperative to note that, in a fluctuating global economy, we not only conduct market forecasts in terms of Compound Annual Growth Rate (CAGR), but also analyse the market based on key parameters, such as Y-o-Y growth rates, to understand the predictability of the wine cooler market as well as to identify the right opportunities for players.
The market segments for the global wine cooler market have been analysed in terms of Basis Point Share (BPS) to understand the relative contributions of each segment to market growth. This detailed level of information is important for identifying various key trends in the wine cooler market. Another key feature of this report is the analysis of the market in terms of absolute dollar opportunity represented by the sales of wine coolers. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve as well as to identify the lucrative segments. The overall absolute dollar opportunity represented by the wine cooler market is mentioned in the report. To understand key growth segments in terms of the growth and adoption for wine coolers in global market, FMI has developed the market ‘Attractiveness Index.’ The resulting index is expected to help providers identify real market opportunities. A number of primary and secondary sources were referred during the course of the study. Some of the secondary sources include IMF, World Bank, Hoovers, Factiva, annual reports of companies and government associations & publications.
In the final section of the report on the wine cooler market, a ‘dashboard view’ of the companies is provided to compare the current industrial scenario and their contribution to the global wine cooler market. Moreover, it is primarily designed to provide clients an objective and detailed comparative assessment of the key providers specific to a segment in the wine cooler market. Report audiences can gain segment-specific manufacturer insights to identify and evaluate the key competitors in the wine cooler market. Detailed profiles of companies are also included in the report to evaluate their strategies, key product offerings and recent developments. Some of the key players of the global wine cooler market areAllavino Company; Avanti Products, Inc.; Electrolux AB; Danby Appliances Inc.; AGA Marvel; Donlert Electrical Co Ltd.; Viking Range, LLC; Newari Company; The EuroCave Group; Haier Group Corporation; LG Electronics Inc.; Vinotemp; Perlick Corporation; General Electric Company; Robert Bosch GmbH; Whynter LLC; Siemens AG; Shenzhen VRBON Electrical Appliance Co., Ltd.; Uline Company and Climadiff.
Wine Cooler Market Reports - Table of Contents
1. Global Wine Cooler Market - Executive Summary
11. Research Methodology
12. Secondary and Primary Sources
13. Assumptions and Acronyms