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Wine E-commerce Market to Grow by USD 15.18 Billion (2024-2028), Driven by Rising Online Shopping Preference, with AI Redefining Market Landscape - Technavio
Tuesday, December 10, 2024
NEW YORK, Dec. 2, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global wine e-commerce market size is estimated to grow by USD 15.18 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.46% during the forecast period. Increasing preference for online shopping is driving market growth, with a trend towards increase in purchases of alcoholic beverages by minors. However, complex regulatory environment poses a challenge. Key market players include Bright Cellars Inc., Costco Wholesale Corp., DRINKS Insiders LLC, E vino Comercio de Vinhos SA, Flaviar Inc., Fratelli Wines Pvt. Ltd., Gifts Inc., GoBrands Inc., IBEROWINE GOURMET S.C., Living Liquidz, Naked Wines plc, RESERVEBAR HOLDINGS CORP., Retail Services and Systems Inc., SNAP41 Inc., The Wine Emporium, Uber Technologies Inc., VINELLO retail GmbH, Vintage Wine Estates Inc., Vivino Inc., and Wine Inc..
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Forecast period
2024-2028
Base Year 2023
Historic Data
2018 - 2022
Segment Covered Product Type (Still wine, Sparkling wine, and Fortified wine), Flavor (Red wine, White wine, and Rose wine), and
Geography (Europe, North America, APAC, South America, and Middle East and Africa)
Region Covered
Europe, North America, APAC, South America, and Middle East and Africa
Key companies Bright Cellars Inc., Costco Wholesale Corp., DRINKS Insiders LLC, E vino Comercio de Vinhos SA, Flaviar Inc., Fratelli
profiled Wines Pvt. Ltd., Gifts Inc., GoBrands Inc., IBEROWINE GOURMET S.C., Living Liquidz, Naked Wines plc, RESERVEBAR
HOLDINGS CORP., Retail Services and Systems Inc., SNAP41 Inc., The Wine Emporium, Uber Technologies Inc., VINELLO
retail GmbH, Vintage Wine Estates Inc., Vivino Inc., and Wine Inc.
Key Market Trends Fueling Growth
The global wine e-commerce market faces a substantial challenge with underage purchases of alcoholic beverages, which can negatively impact market growth. According to the International Alliance for Responsible Drinking, underage drinking is a major public health concern, affecting over 200 million youth globally and costing the economy over USD400 billion annually. In the US, around 30% of online wine retailers lack age verification procedures. To mitigate this risk, wine sellers and retailers are implementing age verification software and third-party services. However, these solutions can be costly, making it a significant challenge for smaller producers and retailers. Therefore, addressing underage purchases is crucial for the growth of the global wine e-commerce market.
The wine e-commerce market is experiencing significant growth, with increasing numbers of consumers choosing online platforms for their wine purchases. Commerces are providing a wide range of wines, from local to international brands, making it convenient for consumers. The trend of alcohol delivery services has also contributed to the growth of this market. Consumers can now order wines online and have them delivered to their doorstep. Additionally, the use of technology such as virtual tastings and personalized recommendations has made the wine buying experience more engaging and enjoyable for consumers. The convenience, variety, and innovative features offered by wine e-commerce platforms make them a popular choice for wine lovers.
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Market Challenges
-- The global wine e-commerce market faces regulatory challenges due to
varying laws and regulations in different jurisdictions. In the US, each
state sets its own rules for wine sales and shipment, creating a complex
marketplace. The ongoing trade dispute between the US and EU over
tariffs on steel and aluminum has led to US tariffs on European wines,
impacting imports and causing logistical challenges for the wine
industry. These regulations restrict wine transportation and add
complexity to the e-commerce market, potentially hindering its growth.
-- The wine e-commerce market faces several challenges in providing a
seamless experience for customers. These include complexities in
shipping and delivery, particularly with perishable items. Regulations
and differing laws in various regions add complexity. Customer
preferences for specific types and vintages require extensive inventory
management. Security of transactions and customer data is a major
concern. Additionally, competition is fierce, requiring effective
marketing and competitive pricing strategies. Logistics and technology
are key areas for improvement, with the need for efficient supply chain
management and user-friendly websites. Overall, the wine e-commerce
industry requires a strategic approach to overcome these challenges and
provide a satisfying shopping experience.
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Segment Overview
This wine e-commerce market report extensively covers market segmentation by
1. Product Type
-- 1.1 Still wine
-- 1.2 Sparkling wine
-- 1.3 Fortified wine
2. Flavor
-- 2.1 Red wine
-- 2.2 White wine
-- 2.3 Rose wine
3. Geography
-- 3.1 Europe
-- 3.2 North America
-- 3.3 APAC
-- 3.4 South America
-- 3.5 Middle East and Africa
1.1 Still wine- The still wine segment dominates the global wine e-commerce market, accounting for the majority of online wine sales. This segment caters to various consumer preferences, offering a wide range of wines from diverse regions and grape varieties. E-commerce platforms provide consumers with convenient access to a vast selection of still wines, including premium and high-end options. Subscription services enable personalized wine deliveries and expand consumers' wine knowledge. The preference for premium still wines is driving the growth of the global wine e-commerce market.
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Research Analysis
The Wine E-commerce Market represents a significant segment of the global alcoholic beverages industry, catering to the convenience needs of consumers in the digital age. E-commerce platforms enable the selection and home delivery of wines, reaching an expanding base of shoppers worldwide. The market encompasses various stakeholders, including wine sellers and retailers, who leverage internet penetration to expand their customer base. Online auctions provide collectors and enthusiasts with unique opportunities to purchase rare and premium wines. However, the online sales process raises concerns regarding underage purchases, a public health issue that necessitates age verification software. The complex regulatory environment, characterized by a patchwork of different sale and distribution jurisdictions, adds to the challenges faced by market participants.
Market Research Overview
The Wine e-commerce market is a thriving sector in the digital economy, offering consumers the convenience of purchasing their favorite wines online. This market caters to various segments, including red, white, rose, and sparkling wines, as well as organic and biodynamic options. E-commerce platforms provide extensive information on wine varieties, regions, and producers, enabling customers to make informed decisions. Shops offer various delivery options, including next-day and same-day delivery, ensuring a seamless shopping experience. Selection is a crucial factor, with many stores offering a wide range of wines from around the world. Additionally, features like wine recommendations based on past purchases and ratings, as well as educational content, add value to the customer journey. Overall, the Wine e-commerce market is a dynamic and competitive space, driven by consumer demand for convenience, variety, and knowledge.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
-- Product Type
-- Still Wine
-- Sparkling Wine
-- Fortified Wine
-- Flavor
-- Red Wine
-- White Wine
-- Rose Wine
-- Geography
-- Europe
-- North America
-- APAC
-- South America
-- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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