Wine Fridge Market Segmentation by Type (Built-in, Countertop, Undercounter, and Freestanding); by Fridge Capacity (Below 30 Bottles, Between 30 to 60 Bottles, Between 60 to 100 Bottles, and Above 100 Bottles); by Technology (Thermoelectric, and Compressor); by Temperature Zones (Single Zone, Dual Zone, and Multi Zone Wine Fridge); by Distribution Channel (Online, and Offline); by End-User (Residential, and Commercial)-Global Demand Analysis & Opportunity Outlook 2020-2030

Global Wine Fridge Market Highlights Over 2020 - 2030

The global wine fridge market is estimated to garner a revenue of USD 3817.7 Million by the end of 2030, by growing at a CAGR of 6.53% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market generated a revenue of USD 2037.1 Million. The growth of the market can be attributed to the growing demand for wine around the globe, and for the need to preserve the wine taste. In recent years, the consumption of wine consumption around the globe, especially amongst the young population, has witnessed significant growth, backed by the rising awareness about the health benefits associated with drinking wine. According to the statistics by the International Organisation of Vine and Wine, production of wine around the world increased from 255 mhl in the year 2002 to 294 mhl in the year 2018. The consumption of wine amongst the population has also increased significantly over the past few years as several countries perceive that the consumption of wine provides a higher social status to an individual. With the increasing consumption of wine, the demand for a wine fridge is also expected to grow, and in turn, drive market growth.

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On the other hand, the taste of wine is known to be destroyed by bacterial growth. Wine fridge can help to maintain the required temperature of the type of wine, and in turn, curb the growth of bacteria and preserve the taste of the wine for a longer period. Besides this, the surge in the number of bars and lounges around the globe, backed by the increasing demand for pub culture amongst the youth, is also expected to drive market growth in the coming years.

Global Wine Fridge Market Regional Synopsis

Regionally, the global wine fridge market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Europe region is anticipated to garner the largest revenue of USD 2016.5 Million by the end of 2030, up from a revenue of USD 1110.2 Million in the year 2020, owing to the increasing demand for wine amongst the population. Moreover, the region possesses numerous countries, such as Italy, Spain, and France, which are also known to be the largest producers of wine around the globe. According to the statistics by the International Trade Center (ITC), France is recorded to be the largest exporter of wine around the globe, followed by Italy and Spain. The value of exports of wine in France, Italy, and Spain grew from USD 9,184,861 Thousand, 5,976,402 Thousand, and 2,965,492 Thousand respectively in the year 2015 to 11,069,717 Thousand, 7,369,929 Thousand, and 3,513,593 Thousand respectively in the year 2018. The wine fridge market in Europe is further segmented by country into the United Kingdom, Germany, Italy, France, Spain, Russia, Netherland, and the Rest of Europe. Out of these, the market in Italy is expected to garner the largest revenue of USD 428.9 Million by the end of 2030, up from a revenue of USD 216.0 Million in the year 2020.

Growth Drivers and Challenges Impacting the Growth of the Global Wine Fridge Market

Growth Drivers

• Increasing Consumption of Wine
• Growing Need to Preserve the Quality and Taste of Wine

Challenges

• High Price of the Product

Global Wine Fridge Market Segmentation Synopsis

The global wine fridge market is segmented by type into built-in, countertop, undercounter, and freestanding. Out of these, the freestanding segment is expected to garner the largest revenue of USD 2004.8 Million by the end of 2030, up from a revenue of USD 1074.0 Million in the year 2020. By fridge capacity, the market is segmented into below 30 bottles, between 30 to 60 bottles, between 60 to 100 bottles, and above 100 bottles. Out of these, the between 30 to 60 bottles segment is expected to display the largest revenue of USD 1581.9 Million by the end of 2030. Based on technology, the market is segmented into thermoelectric and compressor, out of which, the compressor segment is anticipated to register the highest market share by the end of 2030, and also grow with the highest CAGR of 6.72% during the forecast period. By temperature zones, the market is segmented into single, dual, and multi-zone wine fridges, out of which, the dual-zone wine fridge segment is predicted to attain the largest revenue of USD 2463.0 Million by the end of 2030. On the basis of distribution channels, the market is segmented into online and offline, out of which, the offline segment is expected to display the highest market share by the end of 2030. The market is also segmented on the basis of end-user into residential and commercial, out of which, the residential segment is anticipated to grow with the highest CAGR of 6.76% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global wine fridge market that are included in our report are Dunavox Ltd., Siemens AG, La Sommelière (FRIO Entreprise), EuroCave, KingsBottle, Liebherr-International Deutschland GmbH, Haier Inc., AB Electrolux, LG Electronics, Climadiff (FRIO Entreprise), and others.

Latest Developments in the Global Wine Fridge Market:

• August 27^th, 2018: LG Electronics announced that at the IFA 2018, it unveiled its new and exclusive LG SIGNATURE wine cellar, which is capable of storing 65 bottles and is equipped with multi-temperature control functions.

• October 13^th, 2020: Dunavox Ltd. announced the launch of its single-zone wine cooler, DUNAVOX DAU-40, which is a steel-cased wine cooler for use in restaurants and modern kitchens. The wine cooler can hold up to 40 bottles of wine and can maintain a temperature of +5ËšC to +22ËšC.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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