Alcohol e-commerce to hit $30bn by 2030
The value of the global alcoholic beverage e-commerce market is forecast to reach US$30.5 billion by 2030, according to a new report from researcher Insight Ace Analytic.
Alcohol e-commerce is currently worth US$2.19bn globally, the research said.
The market is expected to expand at a compound annual growth rate (CAGR) of 34.3% from 2022 to 2030.
The report included distilled spirits, wine, beer, hard kombucha, hard seltzer, cocktails, long drinks and other ready-to-drink beverages in its findings. It said the increasing use of online channels for sales of these products stems from ‘changing drinking patterns resulting from the Covid-19 pandemic’, as consumers sought to enjoy their favourite drinks at home.
Insight Ace Analytic noted that the North American region is set to bring in the biggest sales from 2022 to 2030. Meanwhile, the Asia Pacific region is expected to demonstrate the fastest growth in online sales due to changing consumer lifestyle patterns.
IWSR Drinks Market Analysis has also predicted 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, the tech company Uber acquired alcohol delivery platform Drizly for US$1bn. Meanwhile, Pernod Ricard snapped up online retailer The Whisky Exchange, and Moët Hennessy and Campari partnered on an e-commerce venture.
For more on online alcohol sales, check out our analysis of how acquisitions and investments will shape the trend in the coming years.