Electric Corkscrew Market: Growth, Trend, Forecast To 2021-2031

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 Electric Corkscrew Market: Introduction

  • Electric corkscrew is a tool used for removing corks from bottles. An electric corkscrew operates with the help of electrical power rather than manual force. Electric corkscrews come in different sizes and adapts to various types of bottles, making it an attractive option as a cork bottle opener. Electric corkscrew eliminates the error of breaking or damaging the bottle and hence its popularity is expected to increase during the forecast period.

Key Drivers and Opportunities of the Global Electric Corkscrew Market

  • Majority of consumers are attracted toward technologically driven products and relate technology with convenience. Factors such as growing consumption of wine, increasing trend of sealing bottles with cork, and the fact that electric corkscrews save consumers from the hassle of opening a cork bottle, are expected to drive the electric corkscrew market during the forecast period.
  • Electric corkscrews can open around 50 bottles in one charge which comes handy during events, in clubs, and other social gatherings. The trend of serving wine at functions is increasing in many countries, which is likely to propel the electric corkscrew market during the forecast period. However, the COVID-19 pandemic has affected the electric corkscrew market from the point of view of restaurants and events. On the other hand, electric corkscrews are widely adopted by residential end-users who are confined to their homes and consume alcohol at home.
  • The issue that the electric corkscrew market might face is the storage and handling of the product. Electric corkscrews are not a small product and require sufficient space. Also, the price of the product is likely to hamper the market growth during the forecast period. Manufacturers operating in this market are coming up with attractive designs and colors to attract consumers. Also, they are showcasing the product as a “gift option” which is expected to increase its adoption in the global market.
  • The rising middle class population, changing lifestyles, adoption of convenient products, changing consumer habits, and increase in disposable income are projected to drive the electric corkscrew market during the forecast period.

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Europe to Hold Major Share of the Global Electric Corkscrew Market

  • In terms of region, the electric corkscrew market can be divided into North America, Europe, Asia Pacific, Middle East & Africa and South America.
  • Europe holds the dominant position globally for electric corkscrews. The growing popularity of wine coupled with the convenience of opening a wine bottle is expected to drive the market in Europe during the forecast period. France, Italy, Germany, and the UK are expected to be the leading markets in the region. The market in Europe is likely to be followed by markets in North America and Asia Pacific during the forecast period.

Key Players Operating in the Global Electric Corkscrew Market

  • ARCOS HERMANOS S.A
  • Balvi Gifts, SL
  • Brabantia Branding B.V.
  • Cuisinart

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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