Wine Cooler Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.46 Billion |
| Market Size (2029) | USD 1.8 Billion |
| CAGR (2024 - 2029) | 4.26 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Wine Cooler Market Analysis
The Wine Cooler Market size is estimated at USD 1.46 billion in 2024, and is expected to reach USD 1.8 billion by 2029, growing at a CAGR of 4.26% during the forecast period (2024-2029).
The concept of keeping wine stored at the optimum temperature is essential in allowing the aging process to take place successfully. A wine fridge or cooler helps keep the wine drinkable for a much longer period and improves the taste of wine, which is an optimal driving reason for helping the market to grow in the forecast period. Increasing consumption of wine across the world is one of the main factors fueling product demand. The rising popularity of wine in countries such as the United States, the United Kingdom, Spain, Italy, South Africa, and Canada, especially among young consumers, is projected to further fuel the demand.
Growing indulgence of consumers toward a glass of fine wine in summer indicates the rising popularity of various variants of wine in dietary cultures across several parts of the world. The wine cooler market is likely to be driven by the increasing demand for wine due to its health benefits and premiumization of wine products, coupled with flavor innovation and a more advanced distribution network globally. Furthermore, the players in the market have been launching wine coolers with cutting-edge technologies, in turn propelling the market. For instance, in August 2021, Signature Kitchen Suite announced the launch of a revolutionary Wine Cave technology, which is exclusive to the wine refrigerator lineup offered by the company. The newly launched product featured a reduction of vibration and temperature variations, restriction to light exposure, and optimizing humidity, shielding collections from wine's most detrimental components.
Wine Cooler Market Trends
Rising Retail Sales of Wine Across the Global Market
The retail sales of alcoholic beverages, especially wines, are on the rise across major countries worldwide, which is also a key driving agent for the wine coolers and refrigerators market. For instance, according to the Wine Institute, the retail sales of wine in the United States amounted to approximately USD 78.4 billion last year, which was higher than the previous year's sales, amounting to USD 66.8 billion. Since more consumers prefer to buy their wine bottles for in-house consumption, the demand for the wine cooler is expected to drift in the forecast period. Moreover, in the trend of luxury kitchen setup where consumers are seeking to incorporate high technological appliances for their kitchen as well as households, a wine cooler is one ideal choice for the consumers.
Furthermore, the presence of a large base of urban population has been aiding the usage of wine coolers for wine storage. The rising usage of smart wine cooler products across the world is boosting the demand for high-end products. According to the Population Reference Bureau, in 2022, the degree of urbanization in some regions was: North America - 83%, Latin America and the Caribbean - 81%, and Europe - 75%. With the rise in urbanization, the global population is exposed to a wide range of wines, further encouraging consumers to buy wines for in-house consumption, in turn propelling the growth of the market.
Europe and North America Leading the Market
As per the regions, Europe and North America have been the primary consumers of wines over recent years, owing to the increasing in-house consumption of wines and other alcoholic beverages in both regions, the wine cooler market is estimated the largest in the regions. However, by production, China led the way for the global market accounting for the largest wine cooler and refrigerator production as compared to any other country followed by the United States. According to the industry report published by "Wines of Great Britain", in 2021 the sales share of the wine market in the United Kingdom by sales channel was United Kingdom cellar door (38%), winery websites (19%), on-trade (14%), Indies (12%), exports (4%), and other retail channels (13%).
Additionally, according to Statistics Canada, the wine market in Canada amounted to CAD 8,017.75 million in the year 2021 which was higher as compared to the revenue generated in the previous year i.e. CAD 7,849.53 million in 2020. Hence, the demand for wine coolers has been increasing proportionally with the growth of the wine market across various retail channels throughout the region.
Wine Cooler Industry Overview
The wine cooler market is largely fragmented with the involvement of leading electronic appliance manufacturers of the world, along with a few companies specialized in manufacturing wine coolers. The key market players include Haier Group, Shenzhen VRBON Electronic Appliance Co., Electrolux AB, Liebherr, and Eurocave SAS. Most companies engaged in business are focusing on technological advancements as one of their leading strategies. The most commonly used strategies in the market studied include product innovations and partnerships. The companies in the market have been launching products with cutting-edge technologies to attract more customers and compete with the other players in the market. In February 2021, Hoover and Candy, brands of Haier Europe, introduced new wine cooler collections. The new products, which include five Hoover and three Candy models, are said to integrate the latest technology to maximize space and keep the wine in the optimum state. All products have smoked glass doors to keep harmful UV rays out and help maintain a consistent interior temperature, and they can store bottles at a variety of temperatures determined by the user.
Wine Cooler Market Leaders
-
Haier Group Corporation
-
Shenzhen VRBON Electrical Appliance Co., Ltd.
-
Electrolux AB
-
Eurocave SAS
-
Liebherr
*Disclaimer: Major Players sorted in no particular order
Wine Cooler Market News
- Nov 2022: Equator Advanced Appliances announced the launch of a new Dual Zone 52-Bottle Wine Refrigerator. The WR 52 model offers high-end features that all work together to guarantee that all bottles stored are kept at the ideal temperature and that they are protected from external elements.
- Nov 2022: LG announced the launch of a new wine cooler product- the LG Signature Smart Wi-Fi Wine Cellar Refrigerator, which claimed to hold up to 65 bottles. The product's features included three temperature zones that let consumers maintain the ideal temperature for reds, whites, and champagnes, respectively.
- Aug 2021: The new luxury brand from global home appliance leader LG Electronics, Signature Kitchen Suite, launched a sophisticated 24-inch under-counter model to its lineup of wine refrigerators. The company is a rapidly expanding premium brand renowned for fostering innovation in the built-in kitchen appliance sector.
Wine Cooler Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Free-Standing
5.1.2 Counter Top
5.1.3 Built-In
5.2 Technology
5.2.1 Compressor-based
5.2.2 Thermoelectic-based
5.3 Distribution Channel
5.3.1 Offline Channel
5.3.2 Online Channel
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Italy
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 Japan
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Dunavox Kft.
6.3.2 The Legacy Companies (Avanti Products Inc)
6.3.3 Haier Group Corporation
6.3.4 Shenzhen VRBON Electrical Appliance Co., Ltd.
6.3.5 Investor AB (Electrolux AB)
6.3.6 Eurocave SAS
6.3.7 La Sommeliere Int. SAS
6.3.8 Liebherr
6.3.9 Caple
6.3.10 LG Corporation
6.3.11 Equator Advanced Appliances
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Wine Cooler Industry Segmentation
A wine cooler is a type of refrigerator made especially to keep wine at a specific temperature to maintain optimal taste and consistency.
The wine cooler market is segmented by Type (Free-Standing, Counter-Top, and Built-In), Technology (Compressor-based and Thermoelectric-based), Distribution Channel (Offline Channel and Online Channel), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and values in (USD Million) during the forecasted years for the above segments.
| Type | |
| Free-Standing | |
| Counter Top | |
| Built-In |
| Technology | |
| Compressor-based | |
| Thermoelectic-based |
| Distribution Channel | |
| Offline Channel | |
| Online Channel |
| Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Wine Cooler Market Research FAQs
How big is the Wine Cooler Market?
The Wine Cooler Market size is expected to reach USD 1.46 billion in 2024 and grow at a CAGR of 4.26% to reach USD 1.8 billion by 2029.
What is the current Wine Cooler Market size?
In 2024, the Wine Cooler Market size is expected to reach USD 1.46 billion.
Who are the key players in Wine Cooler Market?
Haier Group Corporation, Shenzhen VRBON Electrical Appliance Co., Ltd., Electrolux AB, Eurocave SAS and Liebherr are the major companies operating in the Wine Cooler Market.
Which is the fastest growing region in Wine Cooler Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Wine Cooler Market?
In 2024, the Europe accounts for the largest market share in Wine Cooler Market.
What years does this Wine Cooler Market cover, and what was the market size in 2023?
In 2023, the Wine Cooler Market size was estimated at USD 1.40 billion. The report covers the Wine Cooler Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Wine Cooler Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Wine Cooler Industry Report
Statistics for the 2024 Wine Cooler market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Wine Cooler analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Wine Cooler Market Report Snapshots
