Wine coolers market size and trends
The global wine cooler market size was estimated at US$ 2.8 billion in 2023 and is expected to grow at a CAGR of 6.8% from 2024 to 2030. This growth can be attributed to the equipment’s ability to store wine at the optimum temperature and enhance its taste During work. The aging process continues. The increasing consumption of wine globally has increased the demand for these coolers as they provide impeccable storage conditions.
Technological advancements have led to the introduction of smart coolers equipped with sensors, real-time monitoring and artificial intelligence algorithms. These wine coolers with innovative designs optimize temperature and humidity settings to keep the wine safe. In addition, these coolers tend to consume less energy, which is increasingly in line with environmental concerns regarding cooling methods, making a positive impact on market dynamics.
In addition, the global market has been driven by a growing trend towards wine preference. This trend emphasizes maintaining precise control of temperature and humidity to preserve the wine's aroma and taste. As a result, advanced refrigeration options with features including cooling management and humidity control have become critical in wine coolers to preserve the taste and aroma of the drink.
Product Insights
Freestanding wine coolers held a dominant market share of 52.2% in 2023 due to their portability. This equipment does not require professional installation and can be placed at the convenience of the consumer. Consumers have increasingly chosen these easy-to-use storage options to preserve wine quality. These mobile coolers use convection cooling to reduce vibration and energy consumption and are designed to protect wine at extreme ambient temperatures. Moreover, these coolers are available in different sizes and dimensions to suit different storage requirements and are more cost effective as compared to compact coolers.
Countertop wine coolers are expected to register the fastest CAGR during the forecast period. These coolers have gained significant traction in the market due to their compact design and convenience that make them ideal for urban living spaces or limited kitchen spaces. Countertop coolers provide a practical solution for wine storage without taking up valuable floor space. Moreover, these wine coolers are less expensive compared to chamber-sized wine coolers. Moreover, the increasing number of home parties and festival celebrations has led to the growth of this segment as countertop coolers are lightweight, portable and keep the wine at the ideal serving temperature.
Technology Insights
Compressor-based wine coolers captured the dominant market share in 2023 because they offer great cooling capabilities. These systems maintain constant temperatures, prevent bacterial growth, and extend the shelf life of the wine. The growing popularity of wine among the world's population has increasingly led to the availability of diverse wines that require efficient storage solutions such as compressor-based wine coolers. Moreover, rising disposable income has encouraged consumers to invest in high-quality appliances that enhance their lifestyle.
Thermal wine coolers registered the fastest CAGR during the forecast period. Thermal wine coolers use solid-state technology with no moving parts, resulting in energy-efficient performance. In addition, they maintain constant temperatures, are reliable for short-term storage and aging, and their silent operation ensures minimal disturbance, preventing disturbance of wine sediment. Furthermore, the sleek and compact design of Thermo Electric Wine Coolers is suitable for both residential and commercial settings and suits modern aesthetics. They often feature glass doors, LED lighting and elegant finishes, enhancing the overall ambiance of wine storage areas.
Distribution channel insights
Offline channels captured the dominant market share in 2023. Large-scale retail chains such as hypermarkets and hypermarkets played a crucial role in the distribution of wine coolers with their wide reach and convenience. The availability of wine coolers along with other household products in these offline outlets has enhanced visibility and accessibility. Moreover, retail outlets including specialty stores have contributed to the growth of the market. Supervisors and agents at these outlets have increasingly provided technological assistance to new consumers and collectors, which has increased demand.
Online distribution channels are expected to emerge as the fastest CAGR during the forecast period. This expected growth can be attributed to the rise in internet penetration across the globe with more consumers turning to online platforms to purchase wine coolers. The ease of shopping from home, coupled with the widespread use of smartphones and similar devices, has dramatically increased the popularity of online channels. In addition, the wine coolers market has benefited from its advanced distribution network. Online channels have increasingly allowed manufacturers to reach consumers globally which has facilitated efficient distribution of products and driven overall market growth.
Application Insights
The commercial sector recorded the largest market share at 70.7% in 2023 due to strong growth of the hospitality sector, including restaurants, bars and hotels. These establishments require reliable storage solutions including humidity control to maintain wine quality. Wine retailers and specialty stores have relied on commercial coolers to display and store their wine inventory. Furthermore, the increasing consumption of wine around the world has led companies to diversify their wine inventory, which requires more efficient and reliable storage of these products.
Residential wine coolers are expected to emerge as the fastest CAGR during the forecast period. The expected growth can be attributed to the rise in disposable income that has encouraged consumers to look for premium wine coolers that maintain the integrity of their wine coolers. To meet the growing consumer demand, manufacturers have introduced smart wine coolers with precise temperature control, humidity regulation, and UV protection connectivity. Moreover, e-commerce platforms have contributed to the growth of this sector as these platforms provide convenience and a wide range of options to explore.
Regional insights
The North American wine coolers market held a profitable share of 30.2% in 2023 due to increasing awareness about the health benefits of wine and differentiation of wine products. Manufacturers have placed great emphasis on flavor innovation and advanced distribution network to meet the growing demand. Moreover, advancement in wine storage technology including smart wine coolers is expected to drive significant growth in the market.
US wine coolers market trends
The wine cooler market in the United States has been propelled by the growing trend of home wine collecting and the rise in the number of home parties, which has led to widespread wine preservation. The market has also witnessed an increasing trend towards distinction and diversity of wine flavors which has led to an increased demand for high quality wine storage solutions.
Europe wine coolers market trends
The European wine coolers market held a dominant share of 34.0% in 2023. As Europe is the world's largest wine producer and consumer, the market has witnessed a rise in wine tourism and wine collecting. Furthermore, the high disposable income in this region has increased the demand for luxury goods such as wine or a wine cooler.
The UK wine coolers market is expected to grow rapidly in the coming years due to the country's wine exports resulting in a growing demand for wine storage facilities.
Wine Coolers Market Trends in Asia Pacific
The Asia Pacific wine coolers market captured 20.7% market share in 2023 and is expected to witness significant growth in the wine coolers market due to increasing investments in technological development for cold storage. Furthermore, the increase in disposable income culminated in the strong expansion of the hospitality sector, which led to increased demand for wine coolers.
Home Wine Cooler Company Insights
The wine cooler market is somewhat fragmented, comprising major players such as Allavino Corporation, Avanti Products, Inc., and others. These market participants have invested heavily in research and development to diversify their product portfolios. They have undertaken organic strategies such as strategic partnerships, new product development, acquisitions and mergers.
Allavino, a manufacturer of high-quality wine coolers and other beverage coolers, provides innovative solutions for residential and commercial use. The company is known for advanced features such as digital temperature control, LED lighting design, and energy-efficient cooling. They offer a wide range of products such as freestanding and built-in coolers, dual zone refrigerators, large capacity wine cellars and beverage centers.
LG Electronics offers consumer electronics, home appliances (refrigerators, washing machines, air conditioners) and mobile phones. It also offers a wide range of refrigerators and wine cellars with advanced cooling technologies and unique designs.
Main wine cooling companies:
Below are the leading companies in the wine coolers market. Together, these companies have the largest market share and set industry trends.
Allavino Avanti Products, Inc. Electrolux AB Danby Appliances Inc. AGA Marvel Viking Range, LLC Donlert Electrical Co Ltd. Newari Company LG Electronics Company General Electric Company
View a comprehensive list of companies in the Wine Coolers market
Recent developments
In December 2023, LG developed the LG SIGNATURE 65 Bottle wine cellar with the ability to store premium Insta wines. The product offers advanced technology with various features like UV protection, humidity control and low power consumption feature, enhanced with a stylish design.
Scope of the Wine Coolers market report
Report attribute
details
Market value in 2024
3.0 billion US dollars
Revenue forecasts in 2030
4.4 billion US dollars
Growth rate
CAGR of 6.8% from 2024 to 2030
Base year for estimation
2023
Historical data
2018 – 2022
Forecast period
2024 – 2030
Quantitative units
Revenue in million USD and CAGR from 2024 to 2030
Report coverage
Revenue forecasts, company classification, competitive landscape, growth factors, and trends
Covered sectors
Product, technology, distribution channel, application, region
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East Airlines
Country scope
United States, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, China, Japan, India, Brazil, Argentina, Saudi Arabia, South Africa
Overview of the main companies
Alavino Company; Avanti Products, Inc.; Electrolux Up. Danby Hardware Company; Aja Marvel; Viking Range, LLC; Dunlert Electrical Co., Ltd.; Newari Company; LG Electronics; General Electric Company
Customization range
Free report customization (equivalent to up to 8 business days for analysts) with purchase. Addition or change in country, regional and sector scope.
Pricing and purchasing options
Take advantage of custom purchasing options to meet your specific research needs. Explore purchasing options
Global Wine Coolers Market Segmentation Report
This report forecasts revenue growth at global, regional and country levels and provides analysis of the latest industry trends in each of the sub-sectors from 2018 to 2030. For this study, Grand View Research has segmented the global Wine Coolers market report based on product, technology, distribution channel, application and region:
Product Forecast (Revenue, USD million, 2018 – 2030)
Self-contained
Countertop
Built-in
Technology Forecast (Revenue, million USD, 2018 – 2030)
Depends on the compressor
Thermal
Distribution Channel Forecast (Revenue, million USD, 2018 – 2030)
Application Forecast (Revenue, US$ million, 2018 – 2030)
Regional Forecast (Revenue, million USD, 2018 – 2030)
