Online Grocery Market was Estimated to be US$ 180.32 Bn in 2018 and is Expected to Grow at a CAGR of 20.63 % Over the Forecast Period, Owing to Increasing Demand Among Consumers as a Result of COVID-19; Says Absolute Markets Insights
Some of the players operating in the online grocery market are ALDI, Amazon.com, Inc, Beelivery, Dunzo Digital Private Limited, Fresh Direct, LLC., Google LLC, HappyFresh, Maplebear Inc., Peapod
PUNE, India, April 16, 2020 /PRNewswire/ -- The Coronavirus pandemic has shaken up several industries in 2020. The manufacturing industry, for example, has taken a hit in terms of production due to the closing down of factories as a result of increased focus on promotion of isolation practices. However, some markets are growing tremendous growth during this period. The demand for online delivery services has gone through the roof. One such market that is showing considerable growth during these times of peril is that of the global online grocery market. The consumers are preferring to stay indoors and place grocery orders in order to reduce the chances of contracting the virus. This is especially true in cases of families with infants and the elderly. There has been a massive surge in terms of the number of new users that are resorting to online applications for the delivery of groceries. In the U.S., for instance, global e-commerce giant Amazon has put the new grocery customers on hold due to the monumental surge in demand. The company is prioritizing grocery delivery to the existing customers.
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The global online grocery market is also gaining further traction with advancement in internet infrastructure and the proliferation of smart devices. The customers are also being provided with an option to collect their orders directly from stores after processing payment through online transactions. This allows the customers to avoid large crowds at supermarkets and reduces the risk of being affected by the virus. Grocery applications are also focussing on delivering farm-fresh products directed to the consumers. Fresh Direct, LLC., for example, delivers freshly procured vegetables and fruits directly to the consumer's doorsteps. It is estimated almost 10% of the consumers in the U.S. use grocery applications frequently. Packaged consumer goods are extremely popular among consumers. With the disruption caused by the digitization in retail markets, many of the traditional grocery shops are venturing into the online grocery delivery model through mobile applications. The global online grocery market provides attractive investment opportunities and is also expected to grow considerably during the forecast years.
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The detailed research study provides qualitative and quantitative analysis of online grocery market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
- In terms of revenue, the individuals accounted for the highest share in 2018. The growth in number of online grocery users coupled with the door-to-door delivery options provided by the grocery apps is a major reason for this.
- Among the business models, home delivery options are more popular among the end-users as compared to store pickup. The ability to choose the time slot for delivery coupled with reduced delivery fee on orders above a certain value is attracting more customers towards delivery business models.
- As far as geography is concerned, the APAC region is expected to show the highest growth during the forecast years. This can be attributed to the increase in popularity of online grocery applications in countries such as India, China, Japan and South Korea.
- Some of the players operating in the online grocery market are ALDI, Amazon.com, Inc, Beelivery, Dunzo Digital Private Limited, Fresh Direct, LLC., Google LLC, HappyFresh, Maplebear Inc., Peapod, LLC, POSTMATES INC, Reliance Retail.,Safeway, Shipt, Inc., Supermarket Grocery Supplies Pvt Ltd, The Kroger Co , Walmart, amongst others.
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Online Grocery Market :
- By End Users
- Individuals
- Organization
- Small and Medium Enterprises
- Large Enterprises
- By Type
- Indirect
- Direct
- By Product Type
- Food Grains
- Bread, Bakery and Dairy Products
- Fruits and Vegetables
- Dry and Baking Products
- Beverages
- Others
- By Business Model
- Delivery
- Takeaway
- By Platform
- Web-based
- App-based
- By Purchase Type
- One-time Purchase
- Subscription
- By Geography
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.
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