Market Research Report
Global Online Grocery Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)
|Global Online Grocery Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)|
Published: August 17, 2020
Content info: 87 Pages
Delivery time: 1-2 business days
The global online grocery market is estimated to reach US$663.33 billion in 2024, growing at a CAGR of 25.02% for the period spanning from 2020 to 2024. The factors such as increasing per capita disposable income, rising number of smartphone users, adoption of internet based devices, rising penetration among millennial population, growing e-commerce and evolving technology are expected to drive the market. However, growth of the industry will be challenged by lack of physical experience, lack of trust regarding freshness of products and high delivery charges. A few notable trends include personalizing experience, visual commerce, growth in digital consumerism and increasing inclination towards comfort.
The global online grocery market is segmented into staples & cooking essentials, breakfast & dairy, fresh produce, snacks & beverages, meat & seafood and others. The global online grocery market is highly dominated by staples & cooking essentials owing to repetitive shopping of staples that include food grains, flours and essentials.
The global online grocery market is expected to grow in future due to increasing penetration of internet services, rising awareness among consumers and inclination towards comfort. In terms of geographical areas, China is the major contributor to the global online grocery market supported by improvement in internet infrastructure and advancement in logistic network.