The latest report on ‘online grocery delivery services’ by Fact.MR depicts global industry insights and driving & restraining factors for the forecast period of 2021 to 2031. The report also analyzes regional trends, growth scope, and upcoming opportunities for market players around the world.
With demand for online grocery delivery services spiraling upward, the industry is predicted to expand at over 20% CAGR through 2031, creating new avenues for market players. As people are getting more inclined towards purchasing from the comfort of their homes, requirement for online grocery services is expected to grow significantly over the coming years. Furthermore, COVID-19 impact on online grocery delivery services was that it increased industry value due to adoption of new social norms and shifted purchasing patterns.
Innovative solutions offered by key players in terms of improving accessibility to online services via mobile applications has emerged as a key driver of online grocery delivery services market. Rising preference of consumers towards online grocery shopping and demand for user-friendly interfaces and additional discounts have been fuelling demand in the market.
Especially during pandemic, sales via online channels have surged due to rising health concerns. These factors are providing lucrative opportunities to key players. Industry players are developing cost-effective applications and services to cater the surging demand among consumers. However, high transportation and logistics charges and lack of internet access in rural areas are likely to pose a challenge to the market.
“Inclination towards online purchases has increased amid the outbreak of COVID-19. This has amplified the demand of online grocery delivery services” says a Fact.MR analyst.
- In terms of product, fruits & vegetables will remain the top-selling segment through 2031 followed by frozen foods & others
- Japan to emerge as a highly lucrative market for online delivery solutions & services
- China to spearhead the growth in Asia-Pacific backed by the rapid evolving online grocery industry
- Germany online grocery delivery service is likely to expand at 23.2% through 2023
- United States is expected to be most lucrative market owing to the technical & digital advancements in online grocery delivery services industry
- UK and Canada are expected to emerge as a potential market through the forecast period
- Owing to the convenience and easy availability through smart phone devices, Italy and France witness a positive growth in 2021 and beyond
Key players profiled by Fact.MR providing online grocery delivery services include Alibaba Group Holding Ltd., Target Corp., Walmart Inc., Amazon.com Inc., Rakuten Inc., Costco Wholesale Corp., J Sainsbury PLC., and Albertsons Companies Inc. among others. Fact.MR evaluates the market as fairly fragmented. Key players are focusing on generating their revenues by launching a variety of products and services. Also, numerous food delivery app and e-commerce websites have forayed into online grocery delivery services, which has intensified existing competition.
For instance, in April 2020, Zomato, a leading food delivery app launched its online grocery delivery services under the segment ‘Zomato Market’ amidst COVID-19 due to the nationwide lockdown.
Also, Box8, another e-commerce food delivery app launched its online grocery service in April 2020 reconfiguring their strategy and offering to deliver grocery to sustain and thrive in the industry.