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Alcohol E-Commerce Market Size, Product Trends, Key Drivers, Share Analysis And Forecast To 2033
Alcohol E-Commerce Market Size
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According to The Business Research Company's, The alcohol e-commerce market size has grown rapidly in recent years. It will grow from $56.72 billion in 2023 to $65.72 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to regulatory changes, changing consumer behavior, economic factors, marketing and advertising strategies, distribution network expansion.
The alcohol e-commerce market size is expected to see rapid growth in the next few years. It will grow to $120.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to evolving regulatory landscape, continued shift in consumer behavior, global economic trends, innovative marketing strategies, expansion of distribution channels. Major trends in the forecast period include virtual tasting experiences, subscription and membership models, contactless delivery and pickup options, blockchain for supply chain transparency, social commerce integration.
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Market Drivers and Trends:
An increase in the consumption of alcohol is expected to propel the growth of the alcohol e-commerce market going forward. Alcohol consumption refers to the consumption of beverages that contain ethyl alcohol. Alcohol e-commerce can encourage impulse purchases due to targeted advertising, promotional offers, and quick checkout processes. For instance, in April 2023, according to the Brewers Association, a US-based trade association, the retail dollar value for the craft beer category in 2022 was estimated at $28.46 billion, representing a 24.6% market share and 6% growth over 2021. Therefore, the increase in consumption of alcohol is driving the growth of the alcohol e-commerce market.
Strategic partnerships and collaborations are key trends gaining popularity in the alcohol e-commerce market. Major companies operating in alcohol e-commerce are undergoing partnerships to strengthen their position in the alcohol e-commerce market. For instance, in September 2022, Thirstie, a US-based leading provider of e-commerce for beverage alcohol brands, partnered with William Grant & Sons, a UK-based global leading family-owned distiller and supplier. Through this partnership, combined resources with Thirstie are expected to expand William Grant's global e-commerce strategy and offer consumers digital access to its portfolio.
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Major Key Players of the Market:
Costco Wholesale Corporation, Anheuser-Busch InBev SA/NV, Heineken N.V., Uber Technologies Inc., Diageo plc, Asahi Group Holdings Ltd., Kirin Holdings Company Limited, Pernod Ricard SA, The Molson Coors Beverage Company, Carlsberg Breweries A/S, Constellation Brands Inc., Vinosity Inc., Total Wine and More, Drizly, BevMo Inc., Naked Wines plc, Wine.com LLC, Vintage Wine Estates, WineAccess Inc., ReserveBar Express Corp., Flaviar, E-vino Comércio de Vinhos S.A, Master of Malt Ltd., Cask & Barrel Ltd., Craft Beer Club LLC, Bright Cellars, Vivino Inc., Underground Enterprises Inc., Speymalt Ltd., First Bottle
Alcohol E-Commerce Market 2024 Key Insights:
• The alcohol e-commerce market size is expected to see rapid growth in the next few years. It will grow to $120.61 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%.
• Surging Alcohol Consumption Drives Growth In Alcohol E-Commerce Market
• Strategic Partnerships And Collaborations Drive Evolution In The Alcohol E-Commerce Landscape
• North America was the largest region in the alcohol e-commerce market in 2023
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