The Global Wine Cellar Market size is expected to grow from USD 1.41 billion in 2022 to USD 2.71 billion by 2030, at a CAGR of 8.5% during the forecast period (2023-2030).
Market Overview:
A wine cellar is a place where wine is stored in bottles, barrels, or, less commonly, carboys, amphorae, or plastic containers. A climate control system keeps crucial parameters like temperature and humidity in an operating wine cellar under control.
Passive wine cellars, on the other hand, are not climate-controlled and are typically built below to minimize temperature changes. A wine room is a phrase used to describe an aboveground wine cellar, whereas a wine closet is a term used to describe a tiny wine cellar (less than 500 bottles).
Top Key Players in the Wine Cellar Market:
Sunpentown Inc., Living Direct Inc., Dometic Group, La Sommeliere, Avintage, Viking Range Corporation, Avanti Products, The Liebherr Group, Climadiff S.A., Electrolux AB, and Other Major Players.
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- Scope For 2023
- Brief Introduction to the research report.
- Table of Contents (Scope covered as a part of the study)
- Top players in the market
- Research framework (structure of the report)
- Research methodology adopted by Worldwide Market Reports
The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels.
For market data analysis, we have market panorama tools such as Market Dynamics, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others. This will help us understand the market potential.
The research report includes quantitative data that helps us fully understand the industry and future market scope.
Market Dynamics and Factors for the Wine Cellar Market:
Drivers:
Prevention of Wine from Being Spoiled
Wine is a perishable commodity. Because it is a natural food product, it can spoil if exposed to heat, or light, or if stored in an environment where temperature and humidity change.
Wine can be ruined by even a minor temperature increase. The quality of wine may be retained or even increased when properly stored; this is one of the main reasons professional wine collectors build wine cellars.
Wine freezers are only suitable for wine enthusiasts who wish to keep their wines for a limited period before drinking them.
Opportunities:
Technological Development in Terms of Smart Store Technology
Technological development in terms of smart store technology, and dynamic partnership models, are lucrative growth opportunities for the wine cellar market in the upcoming years. In addition, China and India are the regions for generating market opportunities for the wine cellar owing to the growing consumption rate of wine and other alcoholic beverages.
France leads the export market by the value of the wine. Moreover, there are major African nations in the top ten countries for import growth, Nigeria, Namibia, and the Ivory Coast.
This is projected to create opportunities in the upcoming years.
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Segmentation Analysis of the Wine Cellar Market:
By Capacity, the Up To 500 Bottle Wine Cellars segment is expected to hold the maximum market share during the forecast period, owing to gaining popularity. By 2027, wine cellars with a capacity of up to 500 bottles are predicted to produce 45% of their income.
- Up To 500 Bottle Wine Cellars
- Up To 1000 Bottle Wine Cellars
- Up To 1500 Bottle Wine Cellars
- More Than 1500 Bottle Wine Cellars
By Application, residential application for the wine segment is expected to dominate the wine cellar market over the forecast period. The rise in demand is mostly attributable to a rising preference for enjoying fine wines at home.
- Residential Wine Cellars
- Commercial Wine Cellars
Regional Analysis of the Wine Cellar Market:
North America region is expected to lead the wine cellar market throughout the market. Growing technological developments in the infrastructure and the availability of adequate finance to set up the wine cellar are leading to the growth of the market.
Furthermore, consumption in the United States has climbed gradually every year for the past decade. It is well-liked by people from all walks of life.
It is taken at all times of the year, in times of war and in times of prosperity.
Key Industry Development:
In January 2021, METIS, the Pacific Northwest's leading M&A advisory firm focused on the global adult beverage and hospital industries, on this day declared that it had advised Walla Walla-based Basel Cellars Estate on the sale of the winery, vineyard, brand, inventory, equipment, and all real estate, including the on-site Estate Resort and Event Facilities.
In June 2020, LG SIGNATURE, the ultra-premium brand recognized for cutting-edge technology and world-class design, today announced the debut of the LG SIGNATURE Wine Cellar in the United States. The new LG SIGNATURE Wine Cellar, with its elegant, seamless design, offers optimum cellar conditions for each variety or vintage by managing temperatures and humidity levels, as well as limiting vibrations and light exposure.
The unit can hold up to 65 bottles and comes with a drawer for storing food like cheese and wine.
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