US Wine Coolers Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 372.40 Million |
| Market Size (2029) | USD 570.30 Million |
| CAGR (2024 - 2029) | 6.40 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Wine Coolers Market Analysis
The US Wine Coolers Market size is estimated at USD 372.40 million in 2024, and is expected to reach USD 570.30 million by 2029, growing at a CAGR of 6.40% during the forecast period (2024-2029).
A wine cooler is a refrigerator made especially to keep wine at a specific temperature to maintain optimal taste and consistency. Given the Covid-19 pandemic, the demand for wine has lowered further lowering the demand for wine cooler in the market. Keeping wine stored at the optimum temperature is essential in allowing the aging process to take place successfully. Wine cooler helps keep the wine drinkable for a much longer period and improves the taste of wine, which is an optimal driving reason for helping the market to grow in the forecast period. Increasing consumption of wine across the world is one of the main factors fueling product demand.
The wine cooler market is expected to be driven by the increasing demand for wine due to its health benefits and premiumization of wine products, this factor is coupled with flavor innovation and a more advanced distribution network globally. Furthermore, the players in the market have been launching wine coolers with cutting-edge technologies, propelling the market.
US Wine Coolers Market Trends
Growing Wine Consumption Culture is Driving the Wine Cooler Market
Wine consumption is increasing due to increasing awareness about its health benefits and the premiumization of wine products. Premiumization became a noticeable trend across the US wine products These factors will boost the growth of the population that consumes wine thus increasing the need for proper storage of wine and related products. Such factors will help boost the growth of the wine cooler market. The need for wine coolers is in both commercial and residential applications. The US is one of the major consumers of wine and related products and thus has a growth opportunity in the wine cooler market.
Growing Urbanization and Residential Need for Wine Cooler is Driving the Market
A steady increase in the urban population and urbanization is driving the market. People who live in urban areas have very different consumption patterns than residents in rural areas. The penetration of wine coolers is steadily growing in the country. This growth can be largely attributed to rising household incomes, improved technologies, rapid urbanization, and environmental changes. Rapid growth in urbanization and changes in lifestyle are estimated to attract consumers to buy a smart wine cooler. The rising urban population across the country, characterized by high-income individuals that are expected to fuel the demand for wine cooler over the forecast period.
US Wine Coolers Industry Overview
The United States Wine Coolers Market is moderately fragmented in nature. Various key players are adopting creative and innovative strategies for expanding their market share and increasing their grip on the regional presence in the market. This adoption of new strategies has also resulted in the attraction of more customers and offering better value to them. Some of the key players in the market are Haier Group, LG Electronics Inc., Electrolux AB, Samsung Electronics Co. Ltd., and Whirlpool Corporation.
US Wine Coolers Market Leaders
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Haier Group
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LG Electronics Inc
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Electrolux AB
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Samsung Electronics Co. Ltd.
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Whirlpool Corporation
*Disclaimer: Major Players sorted in no particular order
US Wine Coolers Market News
- In January 2023, Samsung Electronics launched a new column refrigerator, the "Bespoke Infinite Line". The fridge and freezer featured a combined capacity of 805 liters, and the wine cellar offers room to store up to 101 bottles.
- In Nov 2022, LG Electronics Inc. announced the launch of a new wine cooler product, the LG Signature Smart Wi-Fi Wine Cellar Refrigerator. The product claimed to hold up to 65 bottles. The product's features included three temperature zones that let consumers maintain the ideal temperature for reds, whites, and champagnes, respectively.
US Wine CoolersMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Wine Consumption Culture is Driving the Wine Cooler Market
4.2.2 Increasing Hospitality Industry's Wine Offering is Driving the Market
4.3 Market Restraints
4.3.1 High Initial Cost of Wine Cooler Acts as a Restraints
4.3.2 Changing Consumer Preferences Towards Wine Drinking can Restratint the Market's Growth
4.4 Market Opportunities
4.4.1 Smart and Integrated Technology in Wine Coolers
4.4.2 Customised Product Offering Acts as a Opportunity for Growth of the Market
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technological Innovations in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Free Standing
5.1.2 Counter Top
5.1.3 Built-In
5.2 By Technology
5.2.1 Compressor Based
5.2.2 Thermoelectric Based
5.3 By Application
5.3.1 Residential
5.3.2 Commercial
5.4 By Distribution Channel
5.4.1 Offline Channel
5.4.2 Online Channel
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Haier Group
6.2.2 LG Electronics Inc
6.2.3 Whirlpool Corporation
6.2.4 Samsung Electronics Co. Ltd.
6.2.5 Electrolux AB
6.2.6 Insignia
6.2.7 Wine Enthusiast
6.2.8 NewAir
6.2.9 Allavino
6.2.10 Danby Appliances*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
8. DISCLAIMER AND ABOUT US
US Wine Coolers Industry Segmentation
A wine cooler is a refrigerator made especially to keep wine at a specific temperature to maintain optimal taste and consistency. The United States Wine Coolers Market is Segmented By Type (Free Standing, Counter Top, and Built-in), By Technology (Compressor Based and Thermoelectric Based), By Application (Residential and Commercial), and By Distribution Channel (Offline Channel and Online Channel). The Report Offers Market Size and Forecasts for the Market in Value (USD Million) for all the Above Segments.
| By Type | |
| Free Standing | |
| Counter Top | |
| Built-In |
| By Technology | |
| Compressor Based | |
| Thermoelectric Based |
| By Application | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| Offline Channel | |
| Online Channel |
US Wine CoolersMarket Research FAQs
How big is the US Wine Coolers Market?
The US Wine Coolers Market size is expected to reach USD 372.40 million in 2024 and grow at a CAGR of 6.40% to reach USD 570.30 million by 2029.
What is the current US Wine Coolers Market size?
In 2024, the US Wine Coolers Market size is expected to reach USD 372.40 million.
Who are the key players in US Wine Coolers Market?
Haier Group, LG Electronics Inc, Electrolux AB, Samsung Electronics Co. Ltd. and Whirlpool Corporation are the major companies operating in the US Wine Coolers Market.
What years does this US Wine Coolers Market cover, and what was the market size in 2023?
In 2023, the US Wine Coolers Market size was estimated at USD 350 million. The report covers the US Wine Coolers Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the US Wine Coolers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Wine CoolersIndustry Report
Statistics for the 2024 US Wine Coolers market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. US Wine Coolers analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
