Dublin, May 11, 2023 (GLOBE NEWSWIRE) -- The "Global Online Grocery Market Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global online grocery market was valued at USD $285.36 billion in 2021 which is expected to reach USD 1594.15 billion by 2027 at a CAGR 33.10%.
Companies Mentioned
- My Brands Inc
- Schwan Food Company
- ShopFoodEx. Safeway Inc.
- Wal-Mart Stores Inc.
- NetGrocer.com Inc.
- mySupermarket Limited
- Fresh Direct LLC.
- Koninklijke Ahold Delhaize N.V.
- Amazon Fresh LLC
Internet portals are used to acquire packaged and fresh goods, according to the definition of online grocery. A niche market exists. It is, nevertheless, anticipated to increase in the coming years.
Currently, individuals use online platforms to purchase a variety of goods because they are easy and deliver goods to doorsteps within a certain amount of time. Customers can also keep track of their expenditures.
Market Drivers
The factors that are projected to drive the expansion of the global online grocery market include the increase in the working population, hectic schedules, and arduous commuting, which present chances for enterprises and entrepreneurs to open online grocery stores.
Also, increased use of online services and increased consumer knowledge of various buying trends will benefit market expansion. The market's most desirable consumers are members of generation Z and millennials.
They are the most tech-savvy users and are willing to spend more when things are delivered. Also, as COVID 19 becomes more common, more people will buy their groceries online rather than visit department stores, which will reduce their social interaction.
Market Restraints
However, concerns regarding freshness of fruits and vegetables as well as high delivery charges are the restraining factors which are expected to hamper the global online grocery market growth.
Market Segmentation
By Category
- Fresh Products
- Meat & Poultry Products
- Bakery, & Breakfast & Cereals
- Beverages & Dairy Products
By Type of Shopper
- Millenials
- Generation Z
- Generation X
- Silent Generation
- Baby Boomers
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/6l73l2
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