Wine Cabinets Market key Insights Based On Product Type, End-use and Regional Demand Till 2026
In terms of volume, during the forecast period, 2017 to 2026. Revenues from sales of wine cabinets around the world are estimated to surpass US$ 5,500 Mn by 2026-end.
[ClickPress, Mon Dec 03 2018] According to a recently compiled report of Fact.MR, the global wine cabinets market is projected to reflect 5.5% CAGR through the forecast period (2017-2026), in terms of value. Over 7,000 units of wine cabinets are estimated to be sold across the globe by 2026-end.
Ornate wine rooms with cabinets and wall displays are becoming a must-have luxury for several wealthy wine collectors as well as enthusiasts. In a bid to cater these demands, many companies are offering bespoke designs & installation services and are reporting strong sales. With growing consumer interest in entertaining their guests at home, along with wider variety of wine witnessing a surge in momentum among the global population, wine cabinets are witnessing a rise in demand since the past few years. In most of the countries worldwide, wine cabinets are emerging as an imperative, desirable fixture for both premium and standard kitchens. In addition, combination cabinets are gaining huge traction in the market, and consumers are willing to spend more for combination products, which provide multi-storage & temperature facilities. Increasing number of fine wine lovers have become eager in portraying their collection of the most-prized wine bottles through commissioning luxurious wine cabinets.
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7 Key Takeaways from Fact.MR’s Report on Wine Cabinets Market for Forecast Period 2017-2026
- Based on price range, mid-range wine cabinets will continue to be preferred in the market. However, revenues from sales of economy wine cabinets will increase at the highest CAGR through 2026. In contrast, revenues from premium wine cabinets will record the lowest CAGR through 2026.
- Free-standing wine cabinets are anticipated to remain sought-after among products in the global wine cabinets market. Volume sales of free-standing wine cabinets are expected to surpass 4,000 Mn units by 2026-end. This number is estimated to remain relatively higher than those from all the other product segments combined.
- North America is expected to remain the most remunerative market for wine cabinets, both in terms of value as well as volume. However, demand for wine cabinets in North America is expected to witness a significant decline over the forecast period.
- Revenues as well as volume sales of wine cabinets in Asia-Pacific excluding Japan (APEJ) are projected to register the fastest expansion through 2026. Europe will also remain a lucrative market for wine cabinets, with revenues poised to account for over one-fourth market share by 2026-end.
- On the basis of technology, compressed wine cabinets are expected to account for a significantly larger revenue share of the market than electric wine cabinets during the forecast period. However, sales of compressed and electric wine cabinets are expected to register a nearly equal CAGR through 2026, in terms of value and volume.
- Residential applications of wine cabinets are expected to remain dominant in the market, and are estimated to account for over three-fourth market revenue share through the forecast period. In addition, restaurants and pubs/bars are anticipated to be the fastest expanding applications of wine cabinets during 2017 to 2026, in terms of volume and value.
- Key market players identified in the report include Middleby Corporation, HAIER, Danby, Avanti, EDGESTAR, SUB-ZERO, Electrolux, Eurocave, PERLICK, Liebherr, Climadiff and Enofrigo.
North America to Remain Largest Market for Wine Cabinets
North American consumers are shifting toward high-quality, premium wines, underpinned by growing intelligence on products that is fuelled by in-store tastings, international media, and wine clubs. With growing wine consumption demand for wine cabinets will also witness a rise in the region. North America will continue to be the largest market for wine cabinets, in terms of value and volume, followed by Asia-Pacific excluding Japan (APEJ). However, the market in APEJ will register the fastest expansion through 2026.
Free standing wine cabinets are gaining immense traction among consumers globally, and they are willing to pay premium for these cabinets owing to their advanced offerings related to temperature and storage. Free standing wine cabinets will therefore remain dominant among products in the market, with revenues forecast to account for approximately three-fifth share of the market by 2026-end. Alongside price, space has become a key consideration during the selection of wine cabinets, wherein integrated under counter and built-in wine cabinets are increasingly being preferred. These two products will also account for major revenue shares of the market during the forecast period.
Key Research Findings from Fact.MR’s Report
- Based on price range, mid-range wine cabinets will remain sought-after among consumers across the globe
- Wine cabinets will find the largest application in residential spaces, followed by hotels
- By technology, compressed wine cabinets will remain the leading revenue contributor to the market
Leading players in the market are increasing focusing on the provision of innovative and technologically advanced products at competitive prices, in order to retain their competitiveness in the market. These players are entering into mergers & acquisitions with smaller vendors for facilitating the raw material supply and expanding their market reach. Key players profiled by Fact.MR’s report, that are actively supporting the market expansion include Climadiff, Enofrigo, Liebherr, PERLICK, Eurocave, Electrolux, SUB-ZERO, Avanti, EDGESTAR, Danby, HAIER, and Middleby Corporation.
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Table of Content:
- Global Economic Outlook
- Global Wine Cabinet Market - Executive Summary
- Global Wine Cabinet Market Overview
3.1.1. Global Wine Cabinet Market Taxonomy
3.1.2. Global Wine Cabinet Market Definition
3.2. Global Wine Cabinet Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global Wine Cabinet Market Y-o-Y Growth
3.3. Global Wine Cabinet Market Dynamics
3.4. Supply Chain
3.5. Cost Structure
3.6. Regulatory Framework
3.7. PESTLE Analysis
3.8. Porters Five Force Analysis
3.9. Key Participants Market Presence (Intensity Map) By Region
- Global Wine Cabinet Market Analysis and Forecast 2012-2026
4.1. Global Wine Cabinet Market Size and Forecast By Product Type, 2012-2026
4.1.1. Free Standing Market Size and Forecast, 2012-2026
18.104.22.168. Revenue (US$ Mn) and Volume Comparison, By Region
22.214.171.124. Market Share Comparison, By Region
126.96.36.199. Y-o-Y growth Comparison, By Region
4.1.2. Integrated Under Counter Market Size and Forecast, 2012-2026
188.8.131.52. Revenue (US$ Mn) and Volume Comparison, By Region
184.108.40.206. Market Share Comparison, By Region
220.127.116.11. Y-o-Y growth Comparison, By Region
4.1.3. Built in (slot in) Market Size and Forecast, 2012-2026
18.104.22.168. Revenue (US$ Mn) and Volume Comparison, By Region
22.214.171.124. Market Share Comparison, By Region
126.96.36.199. Y-o-Y growth Comparison, By Region
4.1.4. Walk-in Cellars Market Size and Forecast, 2012-2026
188.8.131.52. Revenue (US$ Mn) and Volume Comparison, By Region
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