Kenneth Research, the division of Research Nestor, recently released a research report entitled “Wine Fridge Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The production of wine around the world increased from 255 mhl in the year 2002 to 294 mhl in the year 2018, according to the statistics by the International Organisation of Vine and Wine.
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The statistics portray the growing demand for wine around the globe, and the surge in consumption of the alcoholic product. In several communities around the globe, consumption of wine is perceived to display higher social status. Moreover, with the rise in awareness for the numerous benefits associated with the consumption of wine, hence, the demand for wine is increasing at a massive pace worldwide. With the surge in consumption of wine, there is also a growing need to preserve the quality and taste of the wine. As a result, there is a growing demand for wine fridge, which is equipped to maintain a proper temperature to preserve the wine for a longer period. Such factors are anticipated to drive the growth of the global wine fridge market in the coming years.
The global wine fridge market is anticipated to grow with a CAGR of 6.53% over the forecast period, i.e., 2021 – 2030. The market is estimated to garner a revenue of USD 3817.7 Million by the end of 2030, up from a revenue of USD 2037.1 Million in the year 2020. The market is segmented by type into built-in, countertop, undercounter, and freestanding. By the end of 2030, the freestanding segment is expected to garner the largest revenue of USD 2004.8 Million, up from a revenue of USD 1074.0 Million in the year 2020.
Geographically, the global wine fridge market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in Europe region is anticipated to garner the largest revenue of USD 2016.5 Million by the end of 2030. Additionally, the market in the region held a revenue of USD 1110.2 Million in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, the high price of the product is one of the major factors predicted to hinder the market growth.
This report also provides the existing competitive scenario of some of the key players of the global wine fridge market, which includes company profiling of Dunavox Ltd., Siemens AG, La Sommelière (FRIO Entreprise), EuroCave, KingsBottle, Liebherr-International Deutschland GmbH, Haier Inc., AB Electrolux, LG Electronics, Climadiff (FRIO Entreprise), and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Wine Fridge Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global wine fridge industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global wine fridge market in the near future.
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Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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