A comprehensive breakdown and segmentation of the global beverage coolers market by product (beverage centers and wine coolers). It also outlines the market shares of key regions such as APAC, Europe, North America, and ROW. The report further presents the major trends influencing market growth and a detailed study of the top vendors in the market, including Danby, Electrolux, Qingdao Haier, Sears Holding Company, and Whirlpool.
Technavio’s market research analysts estimate the global beverage coolers market, to grow at a CAGR of more than 5% between 2016 and 2020. The increase in the varieties of beverages available in the market, coupled with a rise in health consciousness among consumers, is driving people to consume more beverages at home rather than at outlets and pubs. With the increase in beverage consumption, consumers are investing on specialized appliances like beverage coolers so that the quality, flavor and taste of the beverage is retained for a long period. Europe occupies 49% of the global beverage coolers market, owing to the high consumption of wines and other beverages at home.
The new market research report from Technavio provides a breakdown and analysis of the beverage coolers segments by technology.
“Of late, this market is witnessing change in kitchen designs, which is boosting its growth. Consumers are investing on appliances that offer good storage and planning of space, with little ornamentation and ease of maintenance. This has led to growth in the built-in appliances market and benefited the appliance vendors who have introduced built-in beverage coolers in their product offerings. Apart from saving counter space, built-in beverage coolers also add aesthetic appeal to a kitchen,” says Jhansi Mary, Lead Analyst, Education, Technavio Research.
The beverage centers segment dominates the market, accounting for 59% of the total market share. Factors such as increased off-trade consumption of beverages and change in home décor to incorporate built-in appliances are driving the beverage centers market. In addition, the versatility of beverage centers to store more variants of beverages than wine coolers is driving the sales of beverage centers.
The leading vendors in the global beverage coolers market include Danby, Electrolux, Qingdao Haier, Sears Holding Company, and Whirlpool. Leading international players dominate the global beverage coolers market, with stiff competition prevalent among these vendors based on price, quality, innovation, service, reputation, distribution, and promotion. However, regional players with significant market shares have also established a presence, especially in emerging nations like China where there is an abundance of resources like labor.
A more detailed analysis is available in the Technavio report, Global Beverage Coolers Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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