Wine Cellars Market Size, Share, Growth, and Industry Analysis, By Type (Single Zone Wine Coolers, Dual Zone Wine Coolers, Built-In Wine Coolers, Big Wine Coolers), By Application (Household and Commercial), Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global wine cellars market size was USD 707 million in 2021. The COVID-19 pandemic was unprecedented & staggering, with wine cellars experiencing lower-than-anticipated demand across developed and developing regions compared to the pre-pandemic times. According to our market research, the market will touch USD 959.1 million by 2028, exhibiting a CAGR of 4.4% during the forecast period. The immediate spike in CAGR can be attributed to supply returning to pre-pandemic levels after two years. The market need for wine cellars is expected to increase during the forecast period.

Wine cellars are rooms that store wine bottles to better the taste and quality of the wine. Several factors, such as pressure, humidity, temperature, and sunlight, are considered to protect the wine from these external elements. This cellar is designed to be easily accessible and visible through labels. The primary purpose of a wine cellar is to find wine bottles quickly without any difficulty. The rising demand for high-quality wines has led manufacturers to pursue an input into the system approach, increasing the number of wine cellars worldwide.

Customers' growing awareness of wine varieties has led them to prefer more expensive wines in developed regions. These factors are expected to propel industrial growth and share during the forecast period, leading to massive profits and revenue generation. The resumption of industrial and manufacturing activities along with the supply chain has resulted in a demand rise globally, thus increasing the market prospects and sales over the forecast period.

COVID-19 Impact: Closure of Supply Chain Operations Impeded Market Growth

The closure of industrial and supply chain activities worldwide due to lockdowns and the pandemic negatively affected the cellar market, leading to losses for investors and manufacturers. The supply chain disruption decreased demand, inflation, and low disposable income in developed and developing regions were the significant factors that restrained market growth during the last two years. However, the market will witness an unprecedented demand boom post the pandemic.

LATEST TRENDS

"Boost in Demand from Various Sectors to Propel Market Growth"

The rise in demand for intelligent wine cellars in commercial and residential sectors will boost market sales during the forecast period. As the preference for online and offline sales channels is becoming dominant, suppliers of wine cellars will come across more lucrative opportunities worldwide. The changing lifestyles have been influencing the consumption of wine in different parts of the world. Thus, with the increasing purchasing power of consumers, wine consumption is rising in developed regions which is expected to prompt the adoption of intelligent cellars to improve lifestyle.

SEGMENTATION

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• By Type

The market is categorized based on types: single-zone wine coolers, dual-zone wine coolers, built-in wine coolers, and extensive wine coolers.

• By Application

The market is subcategorized based on household and commercial applications.

DRIVING FACTORS

"Usage in Commercial Sector to Boost Demand and Production"

Several advanced & effective technologies are entering the market & commercial smart appliances are taking over. The rapid expansion of the information technology sector will positively impact the wine cellars market growth worldwide. Innovative cellars are customizable and are used in several commercial spaces, such as pubs, restaurants, hotels, and cafes. The increased usage of these cellars in retail is one of the significant, latest trends that will positively impact the market. Thus, several companies are expanding their production units to gain significant industrial market share.

"Preference for Premium Quality Wine to Drive Market Share and Growth"

The demand for wine cellars is increasing primarily due to the growing preference for consuming premium-quality wines by consumers. Furthermore, its popularity rises as the preference for smart homes increases worldwide. As people seek advanced connectivity solutions, such as entertainment systems, climate regulation, and security, the intelligent eating and drinking trend has prompted an increased purchase of innovative wine cellars worldwide. This has led to profits and revenues for investors and stakeholders.

RESTRAINING FACTORS

"Expensive Installation and Operational Costs to Hamper Market Growth"

Wines are expensive, and only a tiny percentage of society consumes them as it is not affordable to everyone. Wine cellar installations add costs to wine production with expenditures such as storage space rent, energy bills, and refrigeration. This will impede the cellar commercial, as providers will be unable to recover the costs due to lowered wine demand. The growing number of stringent government rules and regulations, and the imposition of taxation schemes on wine vaults, are restraining the market growth of the sector. Substitute supply systems such as cabinet home bars are further expected to decrease the market demand.

REGIONAL INSIGHTS

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"North America to Lead Market Share with Rise of Manufacturers"

North America to lead the wine cellars market share owing to the rise of leading global players and manufacturers in the area. The increase in innovations and the production capacities of the region and industrial producers, along with significant collaborations, partnerships, launches, and joint ventures, will lead the global industrial share for the wine market. Thus, the U.S. will show the manufacturing and production with the largest share, thus propelling the market growth, leading to profits and revenues for investors and stakeholders.

KEY INDUSTRIAL PLAYERS

"U.S. to Lead Major Manufacturing Operations and Supply"

The report has analyzed various global market players in the industry, and the information has been published after analysis of trends, key technological developments, and innovations. The report also comprises research on companies, technical outcomes, and emerging industries' impact and risks. After a detailed analysis, the study has considered all the points, thus generating estimated future possibilities for cellar enterprise. Therefore, the factors in the report are subject to change as the market dynamics fluctuate.

List of Market Players Profiled

• Haier (China)
• Danby (Canada)
• EdgeStar (U.S.)
• Avanti (U.S.)
• La Sommeliere (France)
• Vinotemp (U.S.)
• Frigidaire (U.S.)
• Eurocave (France)
• U-LINE (U.S.)
• NewAir (U.S.)
• Climadiff (France)
• Viking Range (U.S.)
• Liebherr (Switzerland)
• Avintage (France)
• Kalorik (U.S.)
• Sunpentown (U.S.)
• Dometic (Sweden)

INDUSTRY DEVELOPMENT

April 2021: Vinotemp launched the latest refrigeration appliances, the Brama 300-Series Refrigerator and the 300-Bottle Dual-Zone Wine Cooler. The refrigerators work as cold storage alternatives anywhere in the home, i.e., in the kitchen or the basement, pantry, and others. This launch significantly increased the company's market share and growth, leading to profits for stakeholders. Thus, this was a significant development over the last year.

REPORT COVERAGE 

The report has examined factors and elements that will affect the demand & supply and estimate forces for the forecast period. After thoroughly evaluating the industrial factors, the report provides an extensive, comprehensive SWOT analysis and estimates all the parameters mentioned, taken into consideration after detailed research. The information also specifies market segmentation, trends, worldwide global developments, key industrial mergers, acquisitions, and an analysis of the wine cellar industry's risks. The report has listed the worldwide leading manufacturers and the regions anticipated to experience growth during the period.