WASHINGTON, June 13, 2023 (GLOBE NEWSWIRE) -- The Global Online Grocery Delivery Services Market is valued at USD 315.2 Billion in 2022 and is expected to reach a value of USD 1670.3 Billion by 2030 at a CAGR of 26.9% over the forecast period 2023-2030.
One of the most significant economic areas is the Online Grocery Delivery Services business, and consistent expansion is expected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight into the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Online Grocery Delivery Services, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors are anticipated to accelerate the Online Grocery Delivery Services Market growth over the forecast period. One of the main factors favorably affecting the demand for Online Grocery Delivery Services is the increasing popularity of online shopping, as it provides a wide range of products with offers. Also, consumers can search for products by comparing the prices.
We forecast that the staple foods and cooking essentials category in Online Grocery Delivery Services market sales will account for more than 35% of total sales by 2030 because it is a type of food that is consumed in large quantities by the population because staple foods provide a significant portion of a person's energy and nutritional needs.
The Asia Pacific dominates the market, and this trend of dominance will continue throughout the projection period. Factors such as traffic jams and extended working hours. Increased penetration of e-commerce platforms, expansion of online grocery retailers, rapid digitization, rapid urbanization, increasing adoption of smartphones, and internet usage across the region increases the demand for Online Grocery Delivery Services in this region.
Market Dynamics
Rising Consumer Preference for Online Shopping to Drive the Market:
The growing popularity of online shopping is helping to significantly increase the profit margins of online grocery service providers, and more and more people are being attracted to the many benefits of online shopping, such as door delivery, easy access, its suitability to new social norms in the midst of a pandemic, user-friendly features and payment options. This factor, which has increased the demand for online grocery services across the globe, will lead to the growth of the Online Grocery Delivery Services market during the forecast period.
Increased Technological Advancements in Shopping Applications to Promote Market Growth
Technological advances such as improved websites, mobile application design, faster delivery times, and improved logistics have increased the revenue share and fueled the growth of the Online Grocery Delivery Services market. Many online shopping delivery services have developed mobile apps that allow customers to order food using their phones. This has made it accessible for consumers to shop anytime and anywhere.
Top Players in the Global Online Grocery Delivery Services Market
- Tesco PLC (UK)
- Supermarket Grocery Supplies Pvt. Ltd. (Big Basket) (India)
- AEON Co. Ltd. (Japan)
- Amazon.com Inc. (U.S.)
- Blink Commerce Private Ltd. (India)
- Alibaba.com (China)
- Natures Basket Ltd. (India)
- JD.com Inc. (China)
- Instacart (U.S.)
- Reliance Retail (Reliance Fresh) (India)
- Rakuten Group Inc. (Japan)
- Walmart Inc. (U.S.)
- Target Brands Inc. (U.S.)
- The Kroger Co. (U.S.)
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Top Trends in Global Online Grocery Delivery Services Market
- One trend that Vantage Market Research (VMR) expects to see in the Online Grocery Delivery Services industry is the increasing use by online grocery services of multiple channels to reach a wider customer base and provide more convenient delivery options, including online, mobile, and brick-and-mortar stores.
- Another trend that VMR predicts will continue in the Online Grocery Delivery Services industry is retailers expanding their e-commerce platforms and partnering with third-party logistics providers to offer online grocery deliveries, enriching their product offerings and overall customer experience.
Top Report Findings
- Based on the Delivery Type, home delivery is the dominant category in the market for online grocery services. Delivering food directly to your doorstep has made this delivery option the most popular among consumers. The COVID-19 pandemic has also increased the demand for home delivery services, as people have avoided physical stores and opted for online shopping to practice social distancing. Therefore, it is expected that the demand for home delivery services will continue to grow in the future.
- Based on Product Type, In the market for Online Grocery Delivery Services, fresh food was the dominant category in 2022. This is because, until recently, customers preferred to buy fresh food in person to ensure its quality and freshness. However, as online grocery services grow in popularity and efficiency, these services deliver high-quality, fresh food directly to customers' homes.
- Based on End Users, individual consumers are the dominant category in the market for online grocery services because of the growing demand for convenient and time-saving options when shopping for groceries.
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Key Players Contribute Around Half of the Overall Global Online Grocery Delivery Services Market Revenue
Key players list for the Online Grocery Service market include Tesco .com, Supermarket Grocery Supplies Pvt. Ltd. (BigBasket), AEON Co., Ltd., Amazon .com, Inc., Blink Commerce Private Limited, Alibaba .com, Natures Basket Limited, JD .com, Inc., Instacart, Reliance Retail (Reliance Fresh), Rakuten Group, Inc., Walmart Inc., Target Brands, Inc., and The Kroger Co.. These companies are expected to benefit from increased demand for their services, as well as growing investments in new products. Other major players include Blink Commerce Pvt. Ltd., Alibaba Group, Instacart, Reliance Retail, Walmart Inc., Natures Basket Ltd., and others.
Staple & Fresh Food Items Segment Accounts for Highest Market Revenue Contribution & Continue the Trend in Forecast Period
Vantage Market Research has analyzed the market for Online Grocery Delivery Services to understand its current state and potential future growth factors. For better understanding, based on product type, the Online Grocery Delivery Services market for product type segment is categorized into: Fresh fruits and vegetables, Dairy and dairy alternatives, Meat and seafood, Frozen foods, staple food, and Bakery products.
Analysts at Vantage Market Research predict that by 2030, the market for Online Grocery Delivery Services will account for more than 35% of total sales in the category of staple foods and culinary necessities because this is a food type that is widely consumed because a large amount of a person's energy and nutritional needs are met by staple meals.
On the other hand, in 2022, fresh food dominated the market for Online Grocery Delivery Services. This is due to the fact that, up until recently, consumers preferred to purchase their fresh food in-person in order to ensure its quality and freshness. However, as Online Grocery Delivery Services become more well-liked and effective, they now bring fresh, high-quality food right to clients' homes.
Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on Online Grocery Delivery Services Market Forecast Report (2023-2030).
Global Online Grocery Delivery Services Market Segmentation
By Product Type
- Fresh Produce
- Dairy & Eggs
- Meat & Seafood
- Canned and Packaged Goods
- Snacks & Beverages
- Frozen Foods
By End User
- Individual Consumers
- Corporate Consumers
- Families with Busy Schedules
- Health & Fitness Enthusiasts
- Students & Young Professionals
- Tourists & Travelers
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 315.2 Billion |
| Revenue Forecast by 2030 | USD 1670.3 Billion |
| CAGR | 26.9% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Tesco PLC, Supermarket Grocery Supplies Pvt. Ltd. (BigBasket), AEON Co. Ltd., Amazon .com Inc., Blink Commerce Private Ltd., Alibaba .com, Natures Basket Ltd., JD .com Inc., Instacart, Reliance Retail (Reliance Fresh), Rakuten Group Inc., Walmart Inc., Target Brands Inc., The Kroger Co. |
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