LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global commercial wine coolers market to grow at a CAGR of over 5% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the increase in the use of technologies that curtail bacterial growth as one of the key emerging trends in the global commercial wine coolers market. One of the factors that can destroy the taste of wine and in some cases, convert wine to vinegar, is bacterial growth. The process through which growth of bacteria in wine can be curtailed is refrigeration. Besides the refrigeration, commercial wine coolers also use charcoal filters to filter air from various bacteria that cause odor in wine. Moreover, some players are focusing on new developments to eliminate the risk of bacterial growth and maintain the quality of wine.
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In this report, Technavio analysts highlight the global increase in wine consumption as a key factor contributing to the growth of the global commercial wine coolers market:
Global increase in wine consumption
In countries such as the US, the UK, Spain, Canada, and South Africa, the consumption of wine is increasing. The increase in consumption of wine can be attributed to the fact that wine has gained popularity among millennials owing to the increase in availability of various varieties of wines in several distribution channels such as retail stores and supermarkets. The consumption of wine by millennials is one segment that has a high income as well as prefers eating new varieties of food items and drinking including wine in many foodservice establishments. Therefore, millennials are expected to contribute significantly toward an increase in consumption of wine at end-user establishments, thereby, encouraging end-users to invest in new units of commercial wine coolers.
According to a senior analyst at Technavio for food service, “Sparkling-wine is also expected to gain popularity owing to its fizziness and is increasingly used in various social functions and events by the new generation population. In addition, red wine is also associated with health benefits as it is believed to improve cholesterol, and health of the heart. Such factors will drive the demand for wine consumption.”
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Global commercial wine coolers market segmentation
This market research report segments the global commercial wine coolers market into the following technology, including compressor based commercial wine coolers and key regions, including the Americas, APAC, and EMEA.
The compressor-based commercial wine coolers market is expected to foresee high growth during the forecast period due to factors such as the ability to achieve low temperatures in comparison with its counterpart model, and it can also work in hot surrounding temperatures. The equipment is appropriate for storing several wine bottles, and operating costs are also lower than counterpart models in cases where large numbers of wine bottles need to be stored.
EMEA was the leading region for the global commercial wine coolers market in 2017, accounting for a market share of nearly 43%. By 2022, APAC is expected to witness the highest market growth.
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