What is Online Grocery Market?
The global online grocery market is expected to grow at a significant pace during the forecast period, according to the AMA study. The rise in demand for home delivery models of for grocery shopping by consumers is one of the major factors aiding into the growth for the market. In addition, the outbreak of COVID-19 pandemic is one of the major factors pushing the demand for online grocery shopping by consumers across the world.
The market study is being classified, by Application (Residential and Commercial) and major geographies with country level break-up.
Aldi (Germany), Amazon (United States), Costco Wholesale Corporation (United States), Instacart (United States), The Kroger Co. (United States), Ocado Retail Limited (United Kingdom), Postmates Inc. (United States), Target Brands Inc. (United States), Walmart (United States) and Whole Foods Market (United States) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on providing home delivery services to their customers due to the current situation of COVID-19 pandemic to remain competitive in their particular market. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Online Grocery market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Online Grocery market by Type, Application and Region.
On the basis of geography, the market of Online Grocery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Home Delivery of Grocery Products Across the World in Order to Reduce the Purchasing Time
- Growing Demand for Daily Essentials and Fast Delivery Propelling the Growth of the Market
- Rising Demand for Online Grocery Shopping Due to the Outbreak of COVID-19 Pandemic Which Has Led to Lockdown of Different Countries or Cities Across the World in Different Regions
Market Trend
- Growing Smartphone & Internet Penetration
Opportunities
- Opportunities for E-Commerce Vendors to Diversify into Grocery Products Across Different Regions
- Opportunity to Diversify into Rural Regions as Well
Challenges
- Lack of Awareness in Rural Areas Across the World
In March 2020, Walmart announced that it is incorporating the Walmart Grocery app into the main Walmart mobile app to enable the facility of directly order fresh groceries, daily staple items and products from the local Walmart store for pickup or deliver.
Stringent Worldwide Government Regulations Regarding Lock-Down of Markets & Cities Across Different Countries of the World to Avoid the Spread of COVID-19 is Slowing Down the Growth for Pick-Up Delivery Model for Online Grocery