Wine Cooler and Chest Freezer Market (Product - Wine Cooler and Chest Freezer; Wine Cooler Capacity - Less than 16 bottles, 16 to 30 bottles, 31 to 60 bottles, 61 to 100 bottles and More than 100 bottles; Wine Cooler Price - Economical and Premium; Chest Freezer Capacity - 500 & above Liters, 300 to 500 Liters, 200 to 300 Liters and 200 & Below Liters; Chest Freezer Price - Economical and Premium; Application - Retail, Hospitality, Food & Beverage Processing, and Cold Storage & Warehouses) - India Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
India Wine Cooler and Chest Freezer Market: Overview
The India wine cooler and chest freezer market is gaining momentum primarily due to surge in demand for processed foods and beverages. The rising economic prosperity has not only upped the average disposable income, but also brought about profound changes in lifestyle and consumption patterns. The growth of this market is also underpinned by a rapidly expanding tourism industry that has led to the emergence of a large number of cafes and hotels.
The India wine cooler and chest freezer market is appropriately classified according to product type, application, and region. By region, South India holds the top spot in terms of revenue generation.
The report offers a comprehensive assessment of India wine cooler and chest freezer market including a brilliant evaluation of some key segments under different categories. From growth drivers to challenges to market opportunities, analysts delve into each and every aspect that could influence the market’s growth over the forecast period.
India Wine Cooler and Chest Freezer Market: Trends and Opportunities
The India wine cooler and chest freezer market is witnessing the benefits of rising implementation of food safety and quality control regulations in India. The government has taken up initiatives to monitor commercial handling of food and beverages is carried out in temperature controlled environments. Food and beverage processing companies, hospitality, cold storage and warehouse, and retail stores that handle food on a commercial scale need to adhere to food safety and quality regulations.
The rising awareness among individuals regarding maintaining temperature to retain freshness of food is the foremost factor driving this market. The rising level of education and access to information through a multitude of channels is leading to increasing awareness especially among the urban populace.
Wine coolers and chest freezers also help to reduce operational costs. Of the two, the demand for chest freezers currently surpasses that of wine coolers. The demand for chest freezers is anticipated to be higher that the demand for wine coolers in the coming years too. This is mainly because of expansion of the hospitality sector which includes food chains, restaurants, and hotels. Economic liberalization in the early 1990s that paved way for the entry of international hotel chains in India also positively impacted the wine cooler and chest freezer market in the country.
A large young working population who is spending considerable money on eating out and visiting bars and cafes for entertainment is a key factor for the thriving wine cooler and chest freezer market. The emergence of BPO and KPO and outsourcing of customer service operations, outbound calling of service industry in the West has given birth to a large middle class population. This population is driving sales of processed food and beverages due to work at late night shifts to serve customers in the West time zone.
India Wine Cooler and Chest Freezer Market: Regional Analysis
South India, among other key regions, grosses maximum revenue. This is mainly because of high consumption of processed food and beverages, which is on account of higher spending capacity attributed to relatively higher economic growth.
India Wine Cooler and Chest Freezer Market: Key Companies
Some of the chief companies functioning in the India market for wine cooler and chest freezer are Rockwell Industries Ltd., Haier Inc., Elan Professional Appliances Pvt. Ltd., Western Refrigeration Private Limited, The Middleby Corporation, AB Electrolux, Kieis Ltd., Williams Refrigeration, Westinghouse Electric Corporation, and Whirlpool of India Limited. The report profiles each of the companies for their distinguishing business attributes along with an overview of their key growth strategies.
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