July 19, 2021
According to the business intelligence report titled ‘Global Online Grocery Market - Analysis By Delivery method (Home Delivery, Click and Collect), Product Type, Generation, By Region, By Country (2020 Edition): Market Insight, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global online grocery market was assessed at USD 98,386.79 million in 2019 and is speculated to record significant growth between 2020-2025.
Growing number of tablet & smartphone users, coupled with improved broadband connections are key factors driving global online grocery market expansion. Moreover, inclination towards convenient management of household work, tech savvy nature of populace with lack of time will boost industry growth.
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The report also cites that leading manufacturers and global retailers have launched omni channels to provide top quality products & services to consumers while aiming to expand customer. This will contribute to market proliferation as well.
Based on product gamut, global online grocery industry is divided into fruits & vegetables, dairy products, meat, fish & poultry processing, frozen foods, beverages, and others. Among these, frozen foods segment is projected to gain traction in the coming years due to easy availability, busy lifestyle of people, and lack of time for cooking. Further, improve health cognizance, in consort with availability of nutritious superfoods and no-preservative products are also boosting sales.
Speaking of generation type, the business sphere is bifurcated into baby boomers, greatest generation, millennials, generation X, and generation Z. Moving on to delivery method, the market space is fragmented into click & collect, and home delivery.
From the regional frame of reference, Asia Pacific captured majority market share in the past year due to rising focus of companies on enhancing distribution methods and enlarging product portfolio. Use of advanced technologies, and better methods to attract customers will contribute to industry expansion as well.
Key players profiled in worldwide online grocery industry report are Wm Morrison Supermarkets plc, Ocado Group, Albertsons Companies Inc., Amazon.com Inc., Koninklijke Ahold Delhaize N.V., Tesco plc, Walmart Inc., The Kroger Company, Carrefour Group, and J Sainsbury plc.