Grocery market in Cyprus
The Cypriot Grocery eCommerce market is predicted to reach US$61.6 million by 2023 and accounts for 5.6% of the total eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 13.1%, resulting in a projected market volume of US$100.9 million by 2027. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.
Market development
eCommerce revenue development in the Wine market in Cyprus
The Cypriot Wine eCommerce market is predicted to reach US$5.2 million by 2023 and accounts for 36.7% of the Wine & Liquors eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 16.0%, resulting in a projected market volume of US$9.5 million by 2027. The Wine eCommerce market is a sub-market of the Wine & Liquors market. Further categories within the Wine & Liquors market are: Liquors.
eCommerce revenue development in the Wine market in Cyprus
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
eCommerce revenue growth in the Wine market in Cyprus
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
Net eCommerce revenue split by sub-category
Note: Data shown is using current exchange rates.
Source: ECDB analysis
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 23.2 | 33.7 | 62.0 | 53.4 | 99.7 | 14.3 | 27.0 | 66.4 |
| AOV (in US$) | 66.9 | 63.6 | 58.5 | 42.6 | 38.5 | 71.0 | 24.9 | 85.1 |
| CVR (in %) | 23.2 | 33.7 | 62.0 | 53.4 | 99.7 | 14.3 | 27.0 | 66.4 |
Market definition
Definition of the Wine market within the Grocery market
Market definition: Grocery > Beverages > Alcoholic Beverages > Wine & Liquors > Wine The category Wine includes the online trade of wine (e.g. red wine, white wine, rosé wine). This category does not cover sparkling wine and champagne and port wine. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Wine (e.g. red wine, white wine, rosé wine)
Out-of-scope
- Sparkling wine and champagne
- Port wine
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