India Wine Cooler and Chest Freezers Market: Snapshot
The market for wine cooler and chest freezers in India is being bolstered by a number of factors. At the forefront is the surging demand for processed foods and beverages brought about by the economic development in the country and rapid pace of urbanization that has not just upped the spending capacity of the people but also brought about changes in their lifestyle and eating habits. A rapidly expanding tourism industry is also said to be underpinning the growth in the market for it has led to the emergence of a copious number of hotels and cafes.
Apart from that, the India wine cooler and chest freezers market is being boosted by the increasing focus on food safety and quality regulations. Wine coolers and chest freezers keep food fresh and cool, thereby helping to lower operational costs.
In order to progress in the market, most companies are leveraging mergers and acquisitions, joint ventures, and partnerships. As per a report by Transparency Market Research, the India wine cooler and chest freezers market will likely expand at a 4.9% CAGR from 2017 to 2025 to reach a value of US$ 197.8 mn by 2025 from US$ 127.5 Mn in 2016.
Chest Freezers Dominate Market because of Demand from Hospitality Sector
Depending upon the types of products, the two broad segments in the market are wine coolers and chest freezers. Among the two, the segment of chest freezers leads the market with a dominant share. In 2016, that dominant share stood at 65.0%. The market for chest freezers was worth US$82.3 mn in 2016. In the years ahead too, the segment is expected to hold on to its dominant share in the market in India. This is primarily due to the growth in the service and hospitality sector that consists of restaurants, food chains, and the tourism industries. Changing lifestyles and habits of consumers will also contribute to the growth in the segment. In terms of growth rate, however, the wine coolers market is slated to outpace chest freezers segment.
The market for wine cooler and chest freezer in India can be segmented on the basis of application into cold storage and warehouses, retail, food and beverage processing, and hospitality. Of them, the food and beverage segment outshines all others in terms of market share. Hospitality is another key segment that generates substantial demand in the wine cooler and chest freezer market in India.
South India Market Shines due to Higher Spending Capacity of Denizens
Key regions in the India wine cooler and chest freezer market are North, East, South, and West India. South India, of them, is known to be a frontrunner in terms of revenue generation. This is mainly on account of high consumption of processed food and beverages in the region. The relatively higher economic growth in the region, in turn, is responsible to driving up demand by giving more money in people’s hands to spend.
North India is another key segment with significant contribution to revenue in the wine cooler and chest freezer market. In the years ahead, the region will continue contributing to the overall revenue in the market. West India market too is predicted to clock a healthy in the upcoming years.
Some of the key players operating in the India wine cooler and chest freezer market are Rockwell Industries Ltd., AB Electrolux, Haier lnc, Kieis Ltd., Elan Professional Appliances Pvt. Ltd, Williams Refrigeration, The Middleby Corporation, Westinghouse Electric Corporation, Western Refrigeration Private Limited, and Whirlpool of India Limited.
India Wine Cooler and Chest Freezer Market: Overview
This report aims to provide comprehensive strategic analysis of the India wine cooler and chest freezer market along with the market size and growth forecast for the period from 2012 to 2025. Key factors driving the growth of the wine cooler and chest freezer market include growing consumption in processed foods and beverages, increase in food safety and quality regulations, and emergence of new hotels and cafes to cater the rising demand from the tourism industry. With advent of refrigeration technology, freezer and beverage cooler products offer effective and efficient cooling and refrigeration processes for various application in end-user sectors.
This research study on the wine cooler and chest freezer market provides detailed analysis of wine cooler and chest freezer across India’s North, South, East and West regions. The study also aims to explain the driving forces behind the rising demand for wine coolers and chest freezers in various application sectors. The report also offers an in-depth analysis of various factors such as market drivers, restraints, and growth opportunities affecting the market dynamics. These factors enable the analysis of various trends that would impact the market during the forecast period from 2017 to 2025.
India Wine Cooler and Chest Freezer Market: Scope
This report includes comprehensive coverage of the underlying economic and technological factors under key trends analysis influencing the India wine cooler and chest freezer. Moreover, this report intends to provide strategic insights of the market by value chain analysis. Furthermore, the report also provides analysis of the potential and existing consumers of the India wine cooler and chest freezer market. The market positioning analysis of key players, sheds light on the prevalent competition in this market.
Furthermore, various factors that affect the growth of India market have been identified in this report. The study provides a holistic perspective on the market’s growth in terms of revenue (US$ Mn) and in terms of volume (Thousand Units). Also, the report includes attractiveness analysis for various segments to determine their growth and contribution during the forecast period. Comparison matrix pointer helps in understanding the relation between various sub-segments in terms of the revenue generated by that particular segment.
India Wine Cooler and Chest Freezer Market: Segmentation
The report aims to provide a comprehensive analysis of the India wine cooler and chest freezer market by product type, capacity, price and application. Based on the capacity, the wine cooler segment is divided into less than 16 bottles, 16 to 30 bottles, 31 to 60 bottles, 61 to 100 bottles and More than 100 bottles. Similarly, chest freezers by capacity are segmented into 500 & above liters, 300 to 500 liters, 200 to 300 liters and 200 & below liters. Depending upon the price both wine coolers and chest freezers are classified as economical and premium. According to the application the India wine cooler and chest freezer market is divided into retail, hospitality, food & beverage processing, cold storage & warehouses and others.
India Wine Cooler and Chest Freezer Market: Competitive Landscape
Also, the report provides a competitive landscape of the India wine cooler and chest freezer market and identifies various business strategies adopted by manufacturers. Under the company profiles section, the report provides an overview of companies operating in the market, strategies deployed by them in the bid to gain competitive advantage, annual revenue generated by them in the past two-three years, and recent developments. Companies profiled in this report include AB Electrolux, Elan Professional Appliances Pvt. Ltd, Haier lnc, Kieis Ltd., Rockwell Industries Ltd., The Middleby Corporation, Western Refrigeration Private Limited, Westinghouse Electric Corporation, Whirlpool of India Limited and Williams Refrigeration among others. Details such as financials, business strategies, SWOT analysis, recent developments, and other such strategic information pertaining to these players has been duly provided as part of company profiling.
The India Wine Cooler and Chest Freezer Market has been segmented as follows:
Wine Cooler and Chest Freezer Market, by Product
- Wine Cooler
- Chest Freezer
Wine Cooler Market, by Capacity
- Less than 16 bottles
- 16 to 30 bottles
- 31 to 60 bottles
- 61 to 100 bottles
- More than 100 bottles
Chest Freezer Market, by Capacity
- 500 & above Liters
- 300 to 500 Liters
- 200 to 300 Liters
- 200 & Below Liters
Wine Cooler Market, by Price
Chest Freezer Market, by Price
Wine Cooler and Chest Freezer Market, by Application
- Food & Beverage Processing
- Cold Storage & warehouses
In addition, the report provides analysis of the India wine cooler and chest freezer market with respect to the following geographic segments: