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.
Albany, NY -- (SBWIRE) -- 07/17/2017 -- The noteworthy increase in the popularity of wine cooler and chest freezer across the globe has created several market opportunities for key players to gain profitable share. Recently, it has been analyzed that India is one of the key markets for the wine cooler and chest freezer in Southeast Asia. To explore various key aspects and future trends, Market Research Hub (MRH) has recently added a new report to its comprehensive collection of research reports, which is titled as "Wine Cooler and Chest Freezer Market- India Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025". The study provides a holistic perspective on the market's growth in terms of revenue (US$ Mn) and in terms of Volume (Thousand Units).
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According to the key findings, 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 million by 2025 from US$ 127.5 Mn in 2016. Some of the crucial factors driving the growth of market include growing consumption in processed foods and beverages, increase in food safety and quality regulations and development of new hotels and cafes to cater the rising demand from the tourism industry.
Wine coolers are electronic units used to store bottles of wine in ideal conditions to preserve the wine's flavor and aroma for up to one year. It keeps food fresh and cool, thereby helping to lower operational costs. Apart from that, one appliance designed to address the problem of long-term storage of frozen foods is called a chest freezer. The report firstly provides detailed analysis of wine cooler and chest freezer across India's North, South, East and West regions. Among them, the wine cooler and chest freezer market in South India gross maximum revenue. This is because of the high consumption of processed food and beverages in the region, which in turn is on account of the increased spending capacity of the people in the region due to its comparatively higher economic growth.
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Moreover, the report segments the market on the basis of product type, capacity, price and applications. 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 foremost share. By application, market is divided into retail, hospitality, food & beverage processing, cold storage & warehouses and others. Moreover, the report also offers an in-depth analysis of various factors such as market drivers, restraints, and growth opportunities affecting the market dynamics.
Companies profiled in this report include Rockwell Industries Ltd., AB Electrolux, The Middleby Corporation, Elan Professional Appliances Pvt. Ltd., Haier lnc, Kieis Ltd., Western Refrigeration Private Limited, Westinghouse Electric Corporation, Whirlpool of India Limited and Williams Refrigeration among others.
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