Online alcohol delivery is still in its nascent stage in the market especially in emerging economies.
— Allied Market Research
PORTLAND, OR, UNITED STATES, July 7, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Alcohol E-Commerce Market,” The Alcohol E-Commerce Market Size was valued at $42.3 billion in 2021, and is estimated to reach $173.8 billion by 2031, growing at a CAGR of 15.2% from 2022 to 2031.
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Online alcohol delivery is still in its nascent stage in the market especially in emerging economies. Companies are selling liquor, beer, wine, and other alcoholic beverages online to expand their customer base. Personal license is obtained by the company to get permission for managing and selling alcohol and personal license names the business premises as a spot or area where packaging and dispatching of alcohol can take place legally. To run online alcohol delivery business besides license companies also need to develop or purchase a website and payments service provider that facilitate online payments.
Online alcohol sales have seen a huge growth in most of the countries, especially during the pandemic. China held the major share in the alcohol e-commerce sales across the globe. The penetration of smartphones and the increase in usage of mobile shopping apps have surged the online delivery alcohol selling companies. In addition, the increase in wide usage of online payment apps are the Alcohol E-Commerce Market Trends..
Leading players are focusing on expanding the number of areas they serve to widen their customer base in order to Alcohol E-Commerce Market Opportunities. For instance, in December 2019, Instacart planned was serving online alcohol delivery in services U.S. and further expanded its business operations in 50 states. In addition, the Instacart Company formed partnership with more than 300 local, regional and national retailers.
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Global Key Players:
Costco Wholesale Corporation,
Total Wines & More,
Uber Technologies Inc,
Vintage Wine Estates
Owing to COVID-19, increase has been witnessed in the demand for alcohol e-commerce. Millennials are considered to be most tech savvy and thus support the growth of the alcohol e-commerce market. Moreover, changes in lifestyle and rapid urbanization influence the Millennials and youth to consume alcohol beverages and as they are also inclined toward using online buying site the online selling of alcohol drinks and beverages has been increased.
According to the Alcohol E-Commerce Market Analysis, the market is segmented into alcohol type, price point, and distribution channel. Based on the alcohol type, the market is segmented into wines/champagnes, spirits, beer and others. Beer segment held the major share in the market owing to the significant rise in the number of working class individuals and increase in disposable incomes of the people across the globe have favored the adoption of premium and high quality beers.
Based on the price point, economy segment was dominated the global market in 2021, which accounted for more than half of the share, and is expected to retain its dominance throughout the alcohol e-commerce market forecast period. As an ingredient, alcohol products have been gaining popularity in cuisines and variety of cocktails in the food service industry, which is expected to propel the Alcohol E-Commerce Market Growth.
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Based on the region, the North America market gain a major traction in terms of share and is likely to remain dominant throughout the forecast period. The giant players of the alcohol e-commerce market in the region are optimizing their supply chains for quick and efficient delivery of alcohol when placed order through online channels.
Key findings of study
By alcohol type, wines/champagne was the major segment of the market in 2021, and is anticipated to grow at a significant CAGR of 15.5% during the forecast period.
Depending on price point, the economy segment is expected to grow at a CAGR of 14.8%, in terms of value, during the forecast period.
As per distribution channel, the Online Grocery sales channel is anticipated to grow at a CAGR of 14.8% during the forecast period.
Region wise, North America was the dominant region in 2021, occupying 35.6% of Alcohol E-commerce Market share.
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Article originally published on www.einpresswire.com as Alcohol E-Commerce Market Size, Share, Analysis, Trends, Growth, and Forecast to 2031