Global Thermoelectric Wine Coolers Market Size, Share and Trends Analysis Report, by Type (Built-In Wine Coolers, Freestanding Wine Coolers, and Other), and by Application (Home Use, Commercial Use, Other), Forecast Period (2022-2028)

The global thermoelectric wine coolers market is anticipated to grow at a CAGR of 2.7%  during the forecast period (2022-2028). The global thermoelectric wine coolers market is growing due to the increasing number of wine drinkers globally. The growing demand for thermoelectric wine coolers owing to their energy efficiency and eco-friendliness. Additionally, these coolers are easy to install and maintain, that makes them one of the most preferred options among customers across the globe. Moreover, the increasing global consumption of wine and the rising awareness about the consumption of wine is also boosting the growth of the market. The increasing advancement in coolers technology and the high preference for consumption of wine among the millennials are also boosting the growth of the market. The growing disposable income globally and rising usage of wine as an essential beverage in social events are further boosting the growth of the market. The increasing product visibility along with cost-effective cooling and easy portability is also fueling the growth of the market. The growing demand for thermoelectric wine coolers owing to their advantages as they allows to store different varietals at their ideal temperature and designate one zone for serving temperature and the other for storageat their required temperatures is further boosting the growth of the market.

The rising demand for consumer goods and products with reduced carbon footprint, increasing awareness among consumers about environmental protection, growing disposable income in emerging economies such as India and China are factors contributing in the market growth. Additionally, the increasing investment by the major market players for the research and development to improve the features and develop advanced technology to increase the shelf life of the wine and to keep the wine at its ideal temperature is further boosting the growth of the global thermoelectric wine coolers market in the forecast period. The North American thermoelectric wine coolers market is anticipated to hold the major share in the global thermoelectric wine coolers market. This is due to the presence of the maximum wine consumers and high investment in production of wine in this region by key players.

Some major players in the market include Allavino Wine Refrigerators, Avanti Products, BSH Home Appliances Group, Haier Inc., LG Electronics,., and Shenzhen VRBON Electrical Appliance Co., Ltd,among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new launches, to stay competitive in the market. For instance:

• In June 2020, Fisher & Paykel Appliances Ltd. announced the launch of their Integrated Wine Column in the North American market.

Market Coverage                                                                                                         

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape – Allavino Wine Refrigerators, Avanti Products, BSH Home Appliances Group, Haier Inc., LG Electronics,., and Shenzhen VRBON Electrical Appliance Co., Ltd, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Thermoelectric Wine Coolers Market Report by Segment

By Type

• Built-In Wine Coolers
• Freestanding Wine Coolers
• Other

By Application

• Home Use
• Commercial Use