Grocery market in Iceland

The Icelandic Grocery eCommerce market is predicted to reach US$48.8 million by 2023 and accounts for 5.3% of the total eCommerce market in Iceland. 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 14.0%, resulting in a projected market volume of US$82.4 million by 2027. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.

Market development

eCommerce revenue development in the Hot Drinks market in Iceland

The Icelandic Hot Drinks eCommerce market is predicted to reach US$2.7 million by 2023 and accounts for 43.2% of the Non-Alcoholic Beverages eCommerce market in Iceland. 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 15.7%, resulting in a projected market volume of US$4.8 million by 2027. The Hot Drinks eCommerce market is a sub-market of the Non-Alcoholic Beverages market. Further categories within the Non-Alcoholic Beverages market are: Juices, Other Non-Alcoholic Beverages, and Water.

eCommerce revenue development in the Hot Drinks market in Iceland

in million US$

eCommerce revenue growth in the Hot Drinks market in Iceland

in %

Net eCommerce revenue split by sub-category

in %
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 %) 1.9 24.6 62.6 64.5 9.8 95.0 86.2 41.3

Online share

eCommerce online share of the total Hot Drinks market in Iceland

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 Icelandic Hot Drinks retail market, the online share is 10.0% and will increase by an average of 33.6% to 31.7% by 2027.

eCommerce online share of the total Hot Drinks market in Iceland

in %
2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 32.3% 22.1% 10.8% 11.1% 98.9% 60.0% 28.3% 78.9%

Market definition

Definition of the Hot Drinks market within the Grocery market

Market definition: Grocery > Beverages > Non-Alcoholic Beverages > Hot Drinks The category Hot Drinks includes the online trade of coffee and tea. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Coffee
  • Tea