Wine Cabinets Market Segmentation, Opportunities, Trends and Future Scope to 2026

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.

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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.

With increasing consumer interest to entertain their guests, and wider variety of wine gaining traction among the alcohol-consuming population globally, it is no surprise that wine cabinets are witnessing a surge in demand over the past few years. Consumers across the globe are eyeing wine cabinets as a must-have, desirable fixture, considering both premium as well as standard kitchens. Combination cabinets have become a major success story in the market, with consumers willing to pay more for combination products that provide multi-storage and temperature facilities. More and more fine wine lovers are becoming eager in showing off their most-prized wine bottles by commissioning luxurious wine cabinets and wall displays.

Alleviated promotion of health benefits associated with moderate consumption of red wine, such as lower risk of cancer, stroke and heart disease has been rapidly driving its sales among health-conscious consumers globally. This has partly bolstered the social status of red wine and is considered to be more sophisticated than rose or white wines, which in turn has influenced demand for wine cabinets. Vendors in the global wine cabinets market are competing on the basis of pricing, and product differentiation. Owing to intense competition, these vendors have begun engaging in M&A activities for ensuring smooth raw material supply and increasing their market presence.

 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.

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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.