Grocery market in Cyprus

The Cypriot Grocery eCommerce market is predicted to reach US$63.0 million by 2024 and accounts for 6.4% 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 2024-2028) will be 20.9%, resulting in a projected market volume of US$134.9 million by 2028. 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$5.4 million by 2024 and accounts for 36.6% 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 2024-2028) will be 23.1%, resulting in a projected market volume of US$12.4 million by 2028. 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

in million US$

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

in %

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

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)24.529.125.976.824.264.17.338.5

Online share

eCommerce online share of the total Wine market in Cyprus

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Cypriot Wine retail market, the online share is 3.5% and will increase by an average of 35.3% to 11.9% by 2028.

eCommerce online share of the total Wine market in Cyprus

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)98.4%29.2%55.9%39.8%78.4%70.9%65.1%58.2%

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

Market comparison

The Cypriot Wine market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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