07-Jan-2021 | Zion Market Research
As per the researchers at Zion Market Research, the valuation of the global Online Grocery market is 2019 was around USD 185.4 billion and is anticipated to attain a value of about USD 807.8 billion by 2026, recording a double-digit growth at rate of nearly 23.4 % during the forecast timeframe. A few of the prominent players vigorously participating within the global online grocery market consist of Amazon.com, Inc., Grofers India Pvt. Ltd., Bigbasket, Alibaba.com, AEON Co., Ltd., Instacart, JD.com, Inc., Walmart, Target Brands, Inc., Tesco.com, and Rakuten.
Insurgence of COVID-19 To Drive Online Grocery Market Size Over 2020-2026
The spread of COVID pandemic has forced the consumers opt for online shopping activities, thereby driving the growth of online grocery market in the recent years. In addition to this, growing consumer inclination towards online buying of food products as well as online retailing will drive the market trends over the forthcoming years. Apart from this, governments across the globe are supporting online shopping activities with an aim to prevent contact between persons to avoid spread of coronavirus and this will provide impetus to the rapid expansion of the online grocery market in the years ahead. In addition to this, players are offering huge discounts on online purchase of food products along with free coupons on certain purchase of specific food items as well as redemption points. This is likely to increase the penetration of the online grocery services even in the remote areas.
Furthermore, rise in the use of smartphones among youths, adults, millennial populace, baby boomers, and aging population is predicted to translate into humungous market surge over the forthcoming years. With onset of connected things, AI, AR, VR, and big data analytics, the market is predicted to gain momentum within the next couple of years.
Staples & Cooking Essentials Segment To Dominate Product Landscape By 2026
The growth of the segment during the forecast timeline is credited to surging online shopping of food grains and other cooking essentials in the Asia Pacific countries like China, India, Singapore, Australia, New Zealand, Japan, Taiwan, and Philippines.
Asia Pacific Market To Witness Massive Expansion Over 2020-2026
The expansion of the market in the Asia Pacific during the projected timeframe is due to legislations favoring online retail activities in the countries like China, India, and Japan for avoiding spread of COVID-19 as a result of physical contacts. In addition to this, governments are also offering incentives for online shopping and players are providing promo codes & various offers for online purchase of food products. Furthermore, transparent return policy of the firms on purchase of perishable food items has resulted in massive popularity of online grocery activities in the region. Furthermore, firms are also trying to attract LGBT customers as well as BOPP customers and this has contributed sizably towards the regional market size in the recent years.
Browse the full “Online Grocery Market - By Product (Breakfast & Dairy, Fresh Produce, Meat & Seafood, Staples & Cooking Essentials, Snacks & Beverages, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/online-grocery-market
The global Online Grocery market is segmented as follows:
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