NEW YORK, April 20, 2021 /PRNewswire/ -- The latest report by Fact MR on global online grocery delivery services market predicts an expansion at over 20% CAGR through 2031. Opting for online grocery delivery services as a lifestyle choice continues to gain ground. There is a growing consensus that the pandemic has furthered adoption of online services, a trend is unlikely to slow down even as COVID-19 passes.
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.
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Key Takeaways
- 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
Competitive Landscape
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.
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More Valuable Insights on Online grocery delivery services market
Fact.MR has published a market research report on global online grocery delivery services market for the period 2021-2031. The study gives a detailed segmentation on the trends, challenges and drivers of the market expected to prevail in the upcoming years. In order to gain a better understanding, the market is segmented on the basis of products (fruits, vegetables, dairy products, fresh products, frozen foods, and other food products) and region (North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA).
Key Questions Covered in the Report
- How will demand for online grocery delivery services market will evolve in the future?
- Which are the lucrative markets for online grocery delivery services market?
- How will changing trends impact the strategies of market players?
- Which is the most lucrative segment of the online grocery delivery services market?
- Which are the top companies operating in the market?
- What is the impact of Covid-19 on online grocery delivery services market?
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