Overview of Wine Cabinets Market: Size, Trends, Demand, Share and Growth Forecast till 2026

Posted on 2018-04-24 by Mark Hub in Retail // 0 Comments

Rockville, US, 2018-Apr-24 — /EPR Network/ — Fact.MR has been actively involved in offering comprehensive research data concerning various topics which are associated to industrial reference and investor utility. “Wine Cabinets Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026” Readers can access knowledge related to market volume, regional expanse as well as competitive landscape prevailing in the global wine cabinets market. In order to study development patterns, this smart assessment also focuses on market dynamics, which talks about drivers, restraints and opportunities estimated to influence the concerned market during the forecast period.

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Wine cabinets are containers specially designed for storing wine bottles. Well-built wine cabinets serve as both efficient storage solutions and fine furniture. These cabinets comply with ideal wine storage conditions such as low vibration, ideal humidity and steady temperature, enabling the wine to age with perfection. Various types of wine cabinets currently available in the market include free-standing cabinets, Built-in cabinets, walk-in cellars, and integrated under counter cabinets.

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.

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.

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.

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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.

Competition Tracking

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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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Retail & Consumer Goods Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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