Global Wine Coolers Market
Wine Coolers Market Size And Forecast
According to Verified Market Research, the Global Wine Coolers Market was valued at USD 1.95 Billion in 2018 and is projected to reach USD 3.14 Billion by 2026, growing at a CAGR of 6.14% from 2019 to 2026.
Global Wine Coolers Market Outlook
Rising awareness regarding the benefits of wine consumption is majorly expected to drive the growth of wine coolers market. Moreover, increasing availability of uniquely optimised wine storage products and an escalating number of variety of wines available resulting in greater focus by the manufacturers on providing innovative and technologically advanced products are further focused to stimulate the growth of wine coolers market. Furthermore, new product launches by the key players further expected to boost the market growth. For instance, in May 2019, Vinotemp announced the extension of their wine storage solution, with the commercial launch of Vinotemp Wine Vault, with the product offering capacity of 30 wine racks as well as customized cooling and humidity controlling. On the other hand, complications in the wine-storage due to the increased dryness in the enclosed cooler and short-term storage alternative in comparison to wine coolers are expected to impede the growth of the market.
Global Wine Coolers Market Competitive Landscape
The Global Wine Coolers Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as LG Electronics, Climadi, BSH Home Appliances Group. (Siemens AG), Haier, Allavino, EuroCave Group, Electrolux, Shenzhen VRBON Electrical Appliance Co., Ltd., Avanti Products, Donlert Electrical Co. Ltd.
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