The global online grocery delivery services market size was evaluated at $286 Billion in 2021 and is slated to hit $2,159 Billion by the end of 2030 with a CAGR of nearly 26% between 2022 and 2030.
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➤ The global market development will be driven by consumer preference for online grocery delivery and technological advancements.
The demand for grocery purchasing through online touchpoints is being driven by technological advancements, swift urbanization, and changing consumer shopping behavior. This is expected to stimulate the growth of the global market for online grocery delivery services. Grocers have increased the popularity of online grocery purchasing among customers by introducing new business models, such as on-demand or subscription delivery models.
➤ The global market expansion may be impeded by the increasing predilection of individuals in emerging economies for purchasing products from offline retail stores.
This can impede the expansion of the global market, as a significant number of individuals in emerging economies prefer to purchase supplies from offline retail stores after physically inspecting the items. Furthermore, the global market’s expansion may be hindered by an increasing number of fraudulent cases in online transactions, including contactless transactions and credit or debit card transactions.
➤ The global industry can capitalize on new growth opportunities by fostering the development of e-commerce.
The global online grocery delivery services market will be able to explore new vistas of development in the years ahead due to the fast-track delivery of groceries and the thriving e-commerce sector.
➤ The global market has been significantly challenged by the absence of access to smartphones and the limited internet connectivity in rural areas.
The internet and smartphones are not accessible to a significant portion of the rural population. Additionally, internet connectivity is inadequate in certain rural and remote regions. Additionally, clients are assessed logistics or transition fees by online grocery delivery services. The development of the global online grocery delivery services market has been hindered by the aforementioned factors. Additionally, the preference of a significant number of consumers for purchasing vegetables and fruits from vendors rather than online outlets has proven to be a significant obstacle to business expansion.
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The Global Online Grocery Delivery Services Market is segmented based on product, application and region
Global Online Grocery Delivery Services Market: Product Segment Analysis
● Breakfast & Dairy Products
● Fresh Produce
● Snacks & Beverages
● Meat & Seafood
● Staples & Cooking Essentials
Global Online Grocery Delivery Services Market: Application Segment Analysis
● Individuals
● Others
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The global Online Grocery Delivery Services market profiles key players such as:
● Tesco.com
● Supermarket Grocery Supplies Pvt. Ltd. (BigBasket)
● AEON Co. Ltd.
● Amazon.com Inc.
● Blink Commerce Private Limited
● Alibaba.com
● Natures Basket Limited
● JD.com Inc.
● Instacart
● Reliance Retail (Reliance Fresh)
● Rakuten Group Inc.
● Walmart Inc.
● Target Brands Inc.
● The Kroger Co
???? Recent Developments
• Zomato, an Indian-based online food ordering and delivery service provider, initiated online grocery delivery services in India during the first half of 2020. The strategic move will contribute to the expansion of the online grocery delivery services industry in India and the Asia-Pacific region.
• JioMart, an online grocery service introduced by Reliance Industries Ltd in May 2020, is a significant business operated in India. The objective of the initiative is to acquire a substantial portion of the Indian online retail services delivery market.
➤ Asia-Pacific is expected to maintain the largest market share during the forecast period.
It is anticipated that the Asia Pacific region will maintain its market dominance during the forecast period, as it contributed the highest market share in the global online grocery delivery services in 2021. The projected timeline indicates that the online grocery delivery services market in the Asia-Pacific region will experience a compound annual growth rate (CAGR) of nearly 28.1%. The expansion of the regional market can be attributed to the implementation of supportive government initiatives in countries such as China and India.
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