Alcohol e-commerce to reach $30 billion value
According to Insight Ace Analytic the value of global alcohol e-commerce will reach a value of $30.5 billion by 2030.
The research says that alcohol e-commerce today stands at a value of $2.19 billion. However between this year 2022 and 2030 the market would reach a value of $30.5 billion, which equates to a compound annual growth rate (CAGR) of 34.3%.
The report includes a range of alcoholic beverages such as distilled spirits, wine, beer, hard kombucha, hard seltzer, cocktails, long rinks and other ready-to-drink beverages.
The increasing use of online channels for the sale of these products is due to “changes in drinking patterns resulting from the covid-19 pandemic,” as consumers seek to enjoy their favorite beverages at home.
Insight Ace Analytic noted that the North America region will contribute the most sales between 2022 and 2030. Meanwhile, the Asia-Pacific region is expected to see the strongest growth in online sales due to changing consumer lifestyle patterns.
IWSR Drinks Market Analysis has also forecast the growth of alcohol e-commerce, and expects the market to expand by 66% globally between 2020 and 2025.
The market’s development has coincided with several major deals in the alcohol e-commerce space. Last year, tech company Uber acquired alcohol delivery platform Drizly for $1 billion. Meanwhile, Pernod Ricard acquired online retailer The Whisky Exchange, and Moët Hennessy and Campari partnered on an e-commerce venture.
Don’t drink and drive. Enjoy responsibly.
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