Connect with us

Hi, what are you looking for?

Wine Cooler Market is expected to reach US$ 2 Bn & 5.6% CAGR during the forecast period 2022–2029

Wine cooler market is projected to grow at a promising pace with a healthy CAGR of 5.6% through the course of forecast period (2019-2029). The market will garner prominence on the back of heightened demand in hospitality, and food & beverages industries. Moreover, increased product launches owing to technological innovations is driving the market growth, finds a new Future Market Insights (FMI) report.

Wine Cooler Market

Attributes such as enhanced functionality and aesthetic appeal have contributed to the growth of wine cooler market. Internet of Things will play a pivotal role in product development through the projected period. Moreover, manufacturers continue to launch eco-friendly wine coolers to reinforce their sustainable practices.

Key Takeaways of Wine Cooler Market Study

  • Food & beverages industry continues to generate substantial demand for wine coolers, with hospitality closing in.
  • Europe and North America collectively occupy approximately 66% of revenue share.
  • Consumers in developing countries will account for greater consumption of wine coolers through 2029.
  • Eco-friendly products will gain traction through the forecast period owing to increased government incentives and consumer preferences.

Heightened Per Capita Consumption of Wine Sustaining Growth of Wine Cooler MarketRising per capita consumption of wine amongst millennials is driving the growth of wine cooler market. Burgeoning hospitality industry in developing countries is soaring the demand for wine coolers. Greater predilection of consumers towards enhanced product visibility and easy maneuverability is a significant growth contributor. Rising inclination towards energy-efficient wine coolers is fuelling the market growth. However, sales of new commercial wine coolers are restricted by demand for pre-used wine coolers. Most wine coolers are not equipped with door storage or adjustable shelves thereby limiting its functionality.

Innovation and Strategic Collaboration to Remain Pivotal for Industry LeadersGlobal wine cooler market is a fragmented landscape. FMI’s comprehensive study on wine cooler market features prominent market players including, but are not limiting to, Robert Bosch GmbH, Siemens AG, Viking Range, LLC, and Haier Group Corporation. Market leaders have escalated R&D activities to launch innovative wine coolers for stronger market foothold. Wine coolers equipped with features such as multiple temperature zones, touchscreen panels, customized control settings for humidity and temperature have already infiltrated the market. Moreover, leading players continue to opt for strategic collaborations to foster their market presence.

Inquire Before Buying Research Report:
https://www.futuremarketinsights.com/ask-question/rep-gb-8035

About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us:                    

Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedInTwitterBlogs

The post Wine Cooler Market is expected to reach US$ 2 Bn & 5.6% CAGR during the forecast period 2022–2029 appeared first on Future Market Insights.

You may also like:

Business

Toyota and its subsidiaries sold nearly 10.5 million vehicles in 2022 - Copyright AFP Yuichi YAMAZAKIJapan’s Toyota was the world’s top-selling automaker in 2022,...

Tech & Science

Get in the habit of declining friend requests from anyone you are not familiar with.

Tech & Science

The drone industry has taken off like a rocket, especially when it comes to “remote operations” and an operator’s ability to control drones from...

Business

Ryanair said it enjoyed 'strong Christmas/New Year traffic' - Copyright AFP/File Kazuhiro NOGIRoland JACKSONIreland’s Ryanair flew back into profit in the final three months...