SAN FRANCISCO, May 27, 2020 /PRNewswire/ -- The Online Grocery Market is anticipated to achieve significant revenue share by 2023. It is either a grocery store or brick-and-mortar supermarket that allows online ordering of grocery items. It includes purchase of packaged and fresh food using several online portals like Amazon Go, Big Basket, and Walmart.
The market witness a rise in number of people opting for online grocery shopping owing to the wide availability of products and a convenient option as the products are delivered at doorstep within a stipulated timeframe. This, in turn, will boost overall business outlook in the forecast period. Besides, it is easy for users to keep track of their day-to-day spending. Moreover, the availability of several discounts on products online in comparison to direct purchasing from store will boost the rate of industry revenue generation owing to increased sales volume.
Factors such as high delivery costs and concerns regarding the freshness of vegetables and fruits will hamper industrial growth in the coming years. Rising demand for functional food and beverages will create a new opportunity for industry in the projected period. The recent trend driving overall business outlook is expansion of digital consumerism in emerging markets like Malaysia, India, Turkey, Brazil, and Russia. For instance, Grofers and Big Basket are the major players of digital consumerism in India, thus, driving overall industry growth.
Tedious commuting, hectic work schedules, and rising number of working populace will create new opportunities for entrepreneurs and businesses to set up online grocery stores. With the growing penetration of internet services and advancing technology, there is a growing awareness among users regarding several shopping trends prevailing in the society. For instance, Millennials and Generation Z are the major attraction for consumer segment in the industry. Millenials and Gen Z find comfortable in paying extra to avail same-day delivery of products.
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The online grocery industry is categorized based on product type, applications, and region.
Based on product type, the online grocery industry is categorized into click-and-collect and home delivery. Home Delivery segment is anticipated to account for the largest revenue share and continue its dominance over the forecast period. Rising consumer demand and its convenience and time-saving ability will thrust segment growth in the coming years. Besides, click-and-collect segment is projected to witness the fast growth rate over the forecast period on account of its rising trend to buy products online and collect them on-the-way and save high delivery costs. For instance, Amazon Go is a primary example where people just walk in and pick up the products, without worrying about the queue for payment. Besides, Walmart is working on a similar concept to make buying of products easy for their patrons.
Based on the applications, the industry is categorized into business and family.
Geographically, the online grocery industry is categorized into Middle East & Africa, North America, South America, Europe, and Asia Pacific. Globally, North America is anticipated to remain dominant with the largest revenue share over the forecast period. Rising number of leading CPG manufacturers via online distribution will thrust overall business outlook in this region. In addition, rising adoption of smart devices, growing demand for functional food and beverages, and availability of attractive discounts on grocery items will boost industry demand in the region.
Prominent players of the online grocery market include Sainsbury PLC, JD, Ocado Group PLC, Kirana Now, Wal-Mart Stores Inc., and Amazon. These players are continuously focusing on technological enhancements to offer better information to both sellers and buyers. Moreover, these producers concentrate on advancing the imaging technology, problem-free checkout process and technology, and enhancing product search capabilities in order to increase overall industry revenue share.
The convenience and advantages associated with online grocery retail such as omni-channel experience, price advantages, in addition with faster delivery is fueling the growth of the global online grocery market. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Online Grocery Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).
Access 142 page research report with TOC on "Global Online Grocery Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/global-online-grocery-market-research-report-2019-2023
The report firstly introduced the Online Grocery basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.
- The major players profiled in this report include:
- Kirana Now
- Wal-Mart Stores Inc
- Ocado Group PLC
- Sainsbury PLC
- The end users/applications and product categories analysis:
On the basis of product, this report displays the sales volume, revenue (Million USD), product price, market share and growth rate of each type, primarily split into-
- Home delivery
- Click-and- collect
- On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, sales volume, market share and growth rate of Online Grocery for each application, including-
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