Market Trends of Germany Wine Coolers Industry
Growing Wine Consumption Culture is Driving the Wine Cooler Market
Wine consumption is steadily growing due to increasing awareness about its health benefits and the premiumization of wine products. In a global comparison of wine and sparkling wine consumption, Germany ranks fourth. In recent years, German wine exports have increased by more than 29% and the volume of exported wines by more than 27% to 1.2 million hectoliters. Such factors will help boost the growth of the wine cooler market. The need for wine coolers is in both commercial and residential applications. Germany is one of the major consumers of wine and related products and thus has a growth opportunity in the wine cooler market.
Growing Urbanization and Residential Need for Wine Cooler is Driving the Market
A steady increase in the urban population and urbanization is driving the market. People who live in urban areas have very different consumption patterns than residents in rural areas. The penetration of wine coolers is steadily growing in the country, given the growing urbanization and increasing wine consumption. This growth can be largely attributed to rising household incomes, improved technologies, rapid urbanization, and environmental changes. Rapid growth in urbanization and changes in lifestyle are estimated to attract consumers to buy a smart wine cooler. The rising urban population across the country, characterized by high-income individuals that are expected to fuel the demand for wine cooler over the forecast period.
