July 02, 2020
According to the research report titled ‘Global Online Grocery Market - Analysis By Delivery method, 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 worth USD 98386.79 million in 2019 and is projected to witness substantial growth over 2020-2025.
Rise in usage of smart phones or tablet specially by Generation X and Baby Boomers, and improved broadband connections worldwide favor the growth of online grocery market. Manufacturers are expanding their geographical reach and tapping new markets worldwide by offering quality grocery and service. Additionally, the introduction of Omni channels by prominent retailers across the globe has had a positive impact on global online grocery market growth. Moreover, the expansion of this industry is credited to tech savvy but time starved people.
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The hectic life of current generation has bolstered the demand for ready to cook meals which has in return boosted the popularity of frozen foods among other available grocery products. Frozen foods are likely to witness a considerable growth over the anticipated timeline. Factors such as introduction of super food nutrients and cutting down preservatives has increased the adoption of frozen foods among the working population, especially women.
Citing the regional landscape, Asia Pacific, followed by Europe and North America, are projected to emerge as the leading contributors to industry revenue, because of evolution in methods of approaching and grabbing consumers by renowned retailers, enhanced application of technology, and the growing thrust of companies on improving their offerings and distribution channel in a bid to cater the consumers’ demands.
The major market players in global online grocery market are Ahold Delhaize, Albertsons, Walmart, Carrefour, Morrisons, Sainsbury’s, Kroger, Tesco plc, Amazon, and Ocado Group among others.