Global Wine Cabinets Market, By Type (Non-Conditioned Cabinets, Refrigerated Wine Cabinets), Product Type (Freestanding, Table Top/Counter Top, Built-in (slot in), Walk-in Cellars), Bottle Capacity (Below 70 Bottles, 71- 150 Bottles, 151-350 Bottles, 351-600 Bottles, Above 600 Bottles), Material (Metal, Wood, Glass), Application (Residential, Commercial, Industrial), Distribution Channel (Online Channel, Offline Channel), Price Range (Economy, Mid-Range, Premium), Technology (Compressed, Electric), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Wine Cabinets Market
The wine cabinets market is expected to be growing at a growth rate of 5.80% in the forecast period of 2022 to 2029 and is likely to reach the USD 1.59 billion by 2029.
The term wine cabinet refers to a set of racks used to store and gather wine bottles. It's also utilized to provide perfect conditions for maturing in the bottle. Wine cabinets are furniture-style pieces with glass doors, solid doors, unique handles, and finishes, among other features. Users find wine cabinets with excellent humidity management and interchangeable cooling units that maintain a consistent and steady temperature to be appealing. Wine cabinets with appealing designs are currently gaining popularity all over the world.
The rise in the number of commercial kitchens, retailers and wine suppliers is likely to drive the demand of wine cabinets market. The rising level of disposable income of people and continuous changing lifestyle are some of the factors driving the wine cabinets market. Other significant factors such as the rise in the preference about advanced technology and easy availability of different structures of wine cabinets will accelerate the market growth rate. Furthermore, upsurge in the strong demand for various end-use industries will positively impact the market’s growth rate. Additionally, increase in popularity of wine cabinets with advanced technology and innovative designs among end-use industries will cushion the growth rate of market. Also, increasing urbanization and upsurge in consumer spending capacity will further increase the demand of wine cabinets market. Growing awareness about the health benefits associated with wine such as reduced risk of heart diseases and inflammation, antioxidants will increase the demand for wine cabinets market.
Moreover, the rise in prevalence of improved distribution channels and attractive designs will create lucrative market growth opportunities in the forecast period of 2022-2029. In the coming years, the presence of multinational and rising businesses in both developed and developing economies, targeting clients with cost-effective, energy-efficient, and innovative technology, is projected to stimulate demand for wine cabinets. Rapid growth in number of commercial kitchens, and wine suppliers and emerging new markets will escalate the growth rate of market in future.
However, high cost linked with wine and the high investment involved in installation of wine cabinets will hamper the market growth rate. Additionally, the negative impact of COVID-19 on supply chain will hinder the market growth. Presence of other alternatives and strict government regulation will further challenge the market in the forecast period mentioned above. Also, The disturbance of shifting taxation arrangements in the wine and spirits industry is predicted to have a negative impact on demand for wine cabinets.
This wine cabinets market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on wine cabinets market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Wine Cabinets Market Scope and Market Size
The wine cabinets market is segmented on the basis of type, product type, bottle capacity, material, distribution channel, price range, technology and application. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the wine cabinets market is segmented into non-conditioned cabinets, and refrigerated wine cabinets.
- Based on product type, the wine cabinets market is segmented into freestanding, table top/counter top, built-in (slot in), and walk-in cellars.
- On the bottle capacity, the wine cabinets market is segmented into below 70 bottles, 71- 150 bottles, 151-350 bottles, 351-600 bottles, and above 600 bottles.
- Based on material, the wine cabinets market is segmented into metal, wood, and glass.
- On the basis of distribution channel, the wine cabinets market is segmented into online channel, and offline channel.
- Based on price range, the wine cabinets market is segmented into economy, mid-range, and premium.
- On the basis of technology, the wine cabinets market is segmented into compressed, and electric.
- The application segment for wine cabinets market includes residential, commercial, and industrial.
Wine Cabinets Market Country Level Analysis
The wine cabinets market is analysed and market size insights and trends are provided by country, type, product type, bottle capacity, material, distribution channel, price range, technology and application as referenced above.
The countries covered in the wine cabinets market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America region is predicted to continue a dominant position among other regions worldwide. This is attributable to the high consumption of wine, rising preference towards premium and high quality wines will stimulate the growth of wine cabinets market in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the rising demand of wines in this region.
The country section of the wine cabinets market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Wine Cabinets Market Share Analysis
The wine cabinets market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to wine cabinets market.
Some of the major players operating in the wine cabinets market are Liebherr-International Deutschland GmbH, Enofrigo Spa, The EuroCave Company, Climadiff, Perlick Corporation, Sub-Zero Group, Inc., Living Direct, Inc., Avanti Products., Danby, Wine Cellar Innovations., Wine Enthusiast Companies., Esigo srl, Joseph & Curtis, LLC., Haier Inc., The Middleby Corporation, Electrolux Home Products, Inc., Vintec, AB Electrolux, Vigilant Inc., and Thermador, among others.