The global online grocery market is projected to record a prolific CAGR of 23% during the forecast period, 2020-2030. This prolific growth can be chiefly attributed to technological progressions and ecommerce penetration in the brick & mortar model. Furthermore, the market foreseen an accelerated growth at the beginning of 2020 owing to the unprecedented outbreak of COVID-19.
“The online grocery market growth primarily rely on the accessibility of supplies, the delivery cost, as well as delivery reliability of the products, amid other factors. Additionally, with the advent of voice ordering and check-out free concepts the market is anticipated to witness stellar growth. ” concludes the FMI analyst.
Online Grocery Market – Key Highlights
- North America, led by the US will remain lucrative in the global market, holding over one-fourth of the market share.
- Packed food will be accounting for more than 50% of the overall market among other product types.
- Home delivery will be highly preferred among consumers over the forecast period.
Online Grocery Market – Drivers
- Online grocery demand spurred amid COVID-19 outbreak due to change in consumer’s behavior following strict lockdown orders.
- Technological innovations will come out as a powerful trend in the market and will continue to gain traction in the forthcoming years.
- Consumer’s inclination towards convenience has propelled the market growth amid the forecast period.
- Surging demand for friction free shopping is anticipated to offer online grocery a thrust in high potential markets.
Online Grocery Market – Restraints
- Issues related to delivery and storage and reliance solely on third-party service providers or delivery executives may generate bottlenecks for the retailer.
- Big retailers lacking concern in entering smaller towns remains a key challenge for the market.
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COVID-19 Impact on the Market
The unprecedented outburst of COVID-19 has propelled the online grocery market that was formerly a lucrative however niche market. The pandemic inflicted lockdown has ushered in several changes in customer behavior, which for the most part are not anticipated to last. On the other hand, spending shift gave rise by the outbreak is projected to stick along.
Competitive Landscape
Key market players operating in the online grocery market are Walmart Inc., Amazon.com Inc., Peapod LLC, The Kroger Co., Publix Super Markets Inc., Fresh Direct LLC, Best Buy Co. Inc., Target Corporation, Costco Wholesale Corporation, Instacart, Carrefour S.A., Safeway Inc., Tesco PLC, Edeka Group, Alibaba Group, Aldi, Honestbee, JD.Com, Avenue Supermarts Ltd. and Grofers India Pvt. Ltd. Leading companies in the market are driven by changing customer’s preferences and needs.
About the Study
The study offers readers a comprehensive assessment of the Online Grocery market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (packed foods [snacks (chips & crisps, salty snacks, dried fruits, mixed nuts and popcorn), baked products (cookies, cakes & pastries, breads & rolls, frozen desserts, and confectioneries), breakfast & cereal (cereal & breakfast bars, granola & muesli, energy boosting breakfast and others (syrups, pancakes, etc.)), ready to eat foods (instant noodles, pasta, sandwiches and smoked fish), ready to drink beverages (aseptic juice, iced tea, flavored milk, soft drinks, energy drinks, instant coffee, canned sodas and non-alcoholic drinks), dairy products (milk, yogurt, cheese, butter and others) and staples & cooking essentials (salt & spices, sauces, coffee/ tea powder, pickles, oils/ vinegar and honey/ jam)] and fresh produce (fruits & vegetables and meat & seafood)), purchaser type (one time purchase and subscription), delivery type (home delivery{company owner stores and third-party stores} and click & collect), end user (individuals and distributors), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
Table Of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends In the Market
3.2. Product Innovation Trends
3.3. Future Prospects of Online Grocery Market
3.3.1. Factors Fuelling Growth
3.3.2. Influx of Brands
3.3.3. Innovative Distribution & Marketing Strategies
4. Impact of Covid-19 on The Market
4.1. Covid-19 The Situation Now
4.2. The Effects of National Lockdown on Various Countries
4.3. Scenarios For The Economic Impact of The Covid-19 Crisis
4.4. Industries Affected By Coronavirus Outbreak Worldwide
4.5. Projected Recovery for Hardest Hit Sectors
4.6. Impact of Covid-19 on Manufacturing Industry
5. Covid-19 Impact on Retail Industry
5.1. Coronavirus Impact Matrix
5.2. Sales Increased Dramatically Across Most Categories; Paper Products, Home Care, and Personal Care Products Spiked in all Countries
5.3. Global Consumers Impact – Winning and Losing Segment Spending
5.4. Consumers Shifting toward Spending Online and in Grocery Stores and Supermarkets
5.5. Consumer Sentiment Reflects Fear of the Virus and of Recession
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