Selbyville, Delaware, Dec. 02, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on online grocery market which estimates the global market valuation for online grocery will cross US$ 1 trillion by 2026. The provision of same-day delivery service by online grocery companies along with a rapid increase in the number of smartphone users will surge industry growth.
The COVID-19 pandemic has resulted in a rise in the number of consumers purchasing groceries online due to the closure of physical stores to reduce social interactions. The outbreak has accelerated the conversion of new online shoppers and has encouraged existing consumers to continue online purchase. Between March & May 2020, around 22% of Canadian consumers considered shopping for groceries online compared to 4% before the COVID-19 crisis. The pandemic is expected to change consumers' purchasing patterns and has a significant long-term impact on the industry.
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Consumers are increasingly adopting online grocery platforms to purchase fresh dairy & breakfast products. The online dairy product delivery is dominated by several players such as Grocio, Violife, Amazon, FreshDirect, Paytm Mall, and Grofers, among others. These companies are offering discounts and fast delivery options to attract a large customer base and increase market share. For instance, Enjoy Life Foods, a subsidiary of Mondelēz International, offers a 15% discount on the first purchase of dairy products with free shipping on orders above USD 49.
The Asia Pacific online grocery market growth can be attributed to the presence of a large number of online grocery players mainly in India, China, and Japan. These players are increasingly expanding their business in tier 1 and tier 2 cities across countries in this region. In November 2020, Amazon India expanded its Amazon Fresh grocery offerings in Chennai, Pune, Ahmedabad, and Kolkata (India). With several players focusing on expanding their online grocery business mainly in the Asia Pacific region, the market is estimated to witness significant growth over the forecast period.
The online grocery market is increasingly gaining traction due to the rising adoption of smartphones along with the trend of using cashless payment transactions among consumers for convenience and cost-effectiveness. Growing urbanization and rise in disposable incomes have triggered the online sales of snacks & beverages among consumers. The rapid shift toward the consumption of packaged foods across developed countries has resulted in increased growth of the dairy & breakfast category segment.
The benefit of continued revenue stream and retaining customers has driven the adoption of subscriber-based purchase model among online retailers. Customers are increasingly shifting toward click-&-collect delivery type due to the advantage of convenience, fast delivery, and availability of a wider range of pickup locations.
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The competition in the global online grocery market is intense, especially in developed countries, due to the presence of a large number of online grocery retailers, serving a limited population. Some of the key players operating in the market include Koninklijke Ahold Delhaize N.V., mySupermarket Limited, AmazonFresh, LLC, Safeway, Inc., NetGrocer.com, Inc., My Brands, Inc., ShopFoodEx, Fresh Direct, LLC, Schwan Food Company, and Walmart Stores, Inc.
Partial chapters of report table of contents (TOC):
Chapter 3 Online Grocery Industry Insights
3.1 Industry segmentation
3.2 Impact analysis of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.3.1 Software providers
3.3.2 System integartors
3.3.3 Technology providers
3.3.4 Cloud service providers
3.3.5 Liscence providers
3.3.6 Third party payment issuers/providers
3.3.7 Advertising & marketing
3.3.8 Distributors
3.3.9 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Biometric
3.4.2 Blockchain
3.4.3 Robotics
3.4.4 AI & machine learning
3.5 Regulatory landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 MEA
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Attractive marketing strategy and promotional activities by key players
3.6.1.2 Emerging technology such as voice assistance and delivery robots in North America
3.6.1.3 Adoption of robust business model by market leaders to target small towns in Europe
3.6.1.4 Rising demand for fiction free shopping in Asia Pacific
3.6.1.5 Growing investments to develop e-commerce industry in Latin America and MEA
3.6.2 Industry pitfalls & challenges
3.6.2.1 Management of perishable groceries
3.6.2.2 High operating costs
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Supplier power
3.8.2 Buyer power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/online-grocery-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.