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 Beverages market in Cyprus
The Cypriot Beverages eCommerce market is predicted to reach US$28.8 million by 2024 and accounts for 45.7% of the Grocery 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 22.3%, resulting in a projected market volume of US$64.5 million by 2028. The Beverages eCommerce market is a sub-market of the Grocery market. Further categories within the Grocery market are: Food.
eCommerce revenue development in the Beverages market in Cyprus
eCommerce revenue growth in the Beverages market in Cyprus
Net eCommerce revenue split by sub-category
2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
Growth (in %) | 2.2 | 90.7 | 26.8 | 23.7 | 15.6 | 43.4 | 5.1 | 42.4 | ||||
as of Grocery (in %) | 32.9 | 30.0 | 27.9 | 29.0 | 30.2 | 30.2 | 29.7 | 29.2 | 28.7 | 28.2 | 27.6 | 27.1 |
Market definition
Definition of the Beverages market within the Grocery market
Market definition: Grocery > Beverages The category Beverages covers the sale of alcoholic beverages (e.g. wines, liquors, beers) and non-alcoholic beverages (e.g. water, juices, coffee). This category does not cover restaurant or bar pick-up and nutritional drinks (e.g. meal replacement shakes, protein shakes). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Alcoholic beverages (e.g. wines, liquors, beers)
- Non-alcoholic beverages (e.g. water, juices, coffee)
Out-of-scope
- Restaurant or bar pick-up
- Nutritional drinks (e.g. meal replacement shakes, protein shakes)
Market comparison
The Cypriot Beverages market in a global comparison
Market comparison by growth, online share, and revenue in 2023
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