According to Future Market Insights' study, the kegerator equipment market is expected to grow at a CAGR of 5.2% over the estimated period. The industry value is expected to grow from USD 1,111.2 million in 2023 to USD 1,846.5 million by 2033.The kegerator equipment market was worth USD 1,057.2 million by the end of 2022.
| Attributes | Value |
|---|---|
| Kegerator Equipment Market Value 2023 | USD 1,111.2 million |
| Kegerator Equipment Market Forecast Value in 2033 | USD 1,846.5 million |
| Kegerator Equipment Market Expected CAGR (2023 to 2033) | 5.2% |
| Global Market Share of USA, Germany, Japan, and Australia | 66.6% |
Some of the factors which might propel the market growth are:
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The global market for kegerator equipment increased from USD 1,446.5 million to USD 1,057.2 million between 2018 and 2022, with a CAGR of 3.7%.
The industry has seen consistent growth over the past few years and is projected to continue this trend in the future. The industry is expected to continue its strong growth in the coming years. This is likely to be driven by the increasing popularity of craft beer and the continued expansion of the retail market.
During the forecast period, the global kegerator equipment market is anticipated to grow from USD 1,111.2 billion in 2023 to USD 1,846.5 billion by 2033, with a healthy CAGR of 5.2%.
Ability to store large quantities of beer and dispense without foam
One of the biggest advantages of using a kegerator is its ability to store large quantities of beer. This is expected to further increase the sales of kegerator equipment. Moreover, the ability to keep beer fresh for long periods of time and the ability to dispense beer without foam has surged the market share of the kegerator equipment.
Ease of beer dispensing
The process of dispensing beer becomes seamless using kegerator equipment, as a result of which these are being increasingly used in the brewery market. They are becoming increasingly popular as they allow people to enjoy fresh draft beer at home kegerator without having to invest in expensive brewing equipment.
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The commercial sector is responsible for a significant portion of the demand for kegerator equipment. This is due to the fact that businesses in the commercial sector often need to serve large quantities of beer at once, and kegerators are an efficient way to do so. In addition, commercial businesses often have a higher budget than individual consumers, so they are more likely to purchase high-end kegerator models.
Multi-tap kegerator equipment has many advantages that make it a great choice for those who are looking for an efficient and effective way to dispense beer. Multi-tap kegerator equipment is able to provide a consistent flow of beer, meaning that there is less wastage and fewer foam pours.
Additionally, the ability to have multiple taps allows for a greater variety of beers on tap, which can be a big selling point for customers or guests. Finally, multi-tap kegerator equipment is easy to clean and maintain, which is an important consideration when choosing any type of keg system.
The draft beer segment has the largest market. This type of equipment is used to store and dispense kegs of beer. There are many different types and sizes of kegerators, but they all have one common purpose: to keep your draft beer cold and fresh, as a result of which the adoption of kegerator equipment has been increasing.
Kegerators also allow us to store multiple kegs of beer at once, so you always have a cold one on hand, as a result of which they are highly preferred in bars. They also help to maintain the carbonation in the beer, so it tastes fresher for longer.
North America is expected to be the largest market during the forecast period.
North America is also the largest craft beer market, and as of 2022, North America had a market valuation of USD 97 billion, which is roughly 40% of the global craft beer market. The major market driver of craft beer is the emergence of new flavors. The market is currently dominated by the current generation
The hotels, restaurants, and bars where craft beers are served are making use of the kegging equipment because of the shelf life associated with the usage of this equipment.
Apart from that, there is also an increase in the consumption of functional beverages worldwide. Based on the research conducted by FMI, the functional beverages market is expected to grow at a CAGR of nearly 6% during the forecast period. The inclination of youth towards flavored drinks is expected to drive the market.
The kegerator equipment can be used to store these beverages in bulk quantities. Owing to their ability to restore the freshness of the beverages for a long time, these are preferred by the manufacturers who are operating in the kegerator equipment market.
Moreover, the companies that are operating on the basis of achieving sustainable development, the application of kegerator equipment is of great significance as the kegs which are used in this equipment are reusable. Consequently, the accumulation of wastage reduces. Furthermore, the application of kegerator equipment also assists in freeing up space in the refrigerator.
The USA accounted for 33.9% of the Global market with a value of USD 377.0 million in 2023. The kegerator equipment market in the United States is evolving rapidly. In recent years, there has been an explosion in the number of new kegerator equipment manufacturers and suppliers. This has led to a more competitive market with lower prices and better-quality products.
One of the most notable trends in the kegerator equipment market is the move toward online sales. This is a result of the growing popularity of online shopping and the convenience it offers consumers. More and more kegerator equipment manufacturers are now selling their products online, which has made it easier for consumers to compare prices and find the best deals.
Europe is expected to be one of the most significant markets during the forecast period.
The region is mainly meant for wine consumption and is the largest wine market. Based on the research, the Europe wine market has a valuation of USD 206 billion as of 2022, and the market is expected to surge further. One of the key reasons behind the increased consumption of wine is the health benefits associated with it, like being an antioxidant and assisting in the healthy functioning of the heart.
The ability of the kegerator equipment to dispense beer without foam is something that has caught the attention of wine manufacturers, and this might increase the demand for kegerator equipment during the forecast period. These also assist in winemaking.
The United Kingdom Market will grow at 6.4% CAGR between 2023 and 2033. The United Kingdom is home to some of the world's leading manufacturers of kegerator equipment, so it's no surprise that the country has a significant share of the global market.
The India kegerator equipment market will grow at 6.4% CAGR between 2023 and 2033. India is a key player in the global kegerator equipment market. India is expected to see significant growth in the kegerator equipment market over the next few years.
This growth will be driven by factors such as the increasing popularity of craft beer and the growing middle class. India presents a unique opportunity for manufacturers of kegerator equipment. The country's large population and rapidly growing economy make it an attractive market for companies looking to expand their business.
Japan is expected to be one of the best-performing Markets. Thanks to a growing whiskey market in the country, which makes Japan is one of the largest markets for kegerator equipment.
The whiskey market in Japan was valued at close to USD 1.3 billion as of 2022 and is expected to grow further during the forecast period. The whiskey manufacturers are depending on the kegerator equipment because of its ability to retain the freshness of the drink for longer periods of time.
The South Korean market is expected to showcase significant growth during the forecast period.
A huge PBCL market in South Korea is expected to increase the sales of kegerator equipment during the forecast period. A rising preference for alcoholic beverages, coupled with an increase in nightlife and late-night parties is the major factor that has led to an increase in the PBCL market in South Korea.
The PBCL market is making use of kegerator equipment because of its ability to store huge quantities of drinks in a single go, and at the same time assist in the seamless dispensing of beer.
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The start-ups operating in the kegerator equipment market are on a mission to diversify their offerings. Rather than just focusing on cold beverages, the focus is also on managing food.
Crafty was founded in 2015. It is a centralized platform that managed food, beverages, and supplies for the in-office, remote, and hybrid teams working across the globe. The start-up has been managing pantries, catering, café, and supplies across their clients.
In April 2022, the company managed to raise USD 10 million in series A funding, which was led by Tribeca Venture Partners.
Till date, Craft has managed to raise USD 15 million from Greycroft, OCA Ventures, Manifold, Firebrand, Rubicon Venture Capital.
The kegerator equipment market is highly competitive with a large number of players. The market is also fragmented with small and medium-sized players. The competition in the market is intense with all the players trying to gain market share.
The key strategies adopted by the players in the market are product innovation, mergers and acquisitions, and expansion into new markets.
Some of the recent developments are:
Danby, Haier, and Versonel are taking up all the major steps to maintain the image of being the dominant forces in the market
Danby has been serving the niche for more than seven decades with a vision of creating truly innovative appliances that would offer unmatched features. The company has been able to evolve with time and has always offered solutions as per the situation.
Danby is currently one of the leading refrigeration and specialty appliance in North America, offering unique appliances loved by people. The company has operated on the principle of creating brilliant and inspired appliances to fit into its customer’s space. To ensure that the customer is taken care of, the company has been providing 12 months, 18 months, and 24-month warranties, that include parts, labor, and in-home service.
Haier is a world-class provider of a better life and digital transformation solutions. Haier has topped in Global Major Appliances Brand Rankings by Euromonitor International for 13 years. Haier has deployed 10+N innovation ecosystems, 71 research institutes, 33 industrial parks, and 133 manufacturing centers.
Haier majorly serves three major sectors: smart home and living, industrial internet, and great healthcare. The company is committed to working with world-class ecosystem partners to continuously develop high-end brands, scenario brands, and ecosystem brands. Haier has been making use of technological innovation to customize a personalized smart life for enabling the digital transformation of business, and promoting high-quality economic growth and sustainable social development.
Versonel has the image of developing innovative, dependable, and stylish products for home and business. The focus has always been on intensive product research, testing, and customer feedback. The goal has always been to provide the best product that one can buy and maintain the balance between flawlessness and stylishness.
The kegerator equipment market will reach nearly USD 1,111.2 million by 2023.
The Kegerator Equipment Market is expected to rise at a CAGR of 5.2%.
The global demand for Kegerator Equipment Market is forecasted to surpass USD 1,846.5 million by the year 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Category 5.1. Single Tap 5.2. Multi-Tap 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Size 6.1. Mini size 6.2. Full size 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 7.1. Residential 7.2. Commercial 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 8.1. Draft Beer 8.2. Wine 8.3. Cold Brew Coffee 8.4. Kombucha 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia 9.6. Oceania 9.7. Middle East and Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Danby 19.2. Nostalgia Products 19.3. Felix Storch 19.4. Living Direct 19.5. US Cooler 19.6. Kegco 19.7. Avanti Products (Croda International Inc.) 19.8. Krups 19.9. Versonel 19.10. Haier Group Corporation 19.11. DCS by Fisher & Paykel Appliances 19.12. Cydea Inc 20. Assumptions & Acronyms Used 21. Research Methodology
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Kegerator Equipment Market
