Global Online Grocery Delivery Services Market 2018-2022 | 22% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Jan 3, 2019--The global online grocery delivery services market is expected to post a CAGR of close to 22% during the period 2018-2022, according to the latest market research report by .
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190103005450/en/
Technavio predicts the global online grocery delivery services market to post a CAGR of close to 22% by 2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increased popularity and adoption of e-commerce platform. The e-commerce platform has witnessed ample growth during the past decade. As per the World Bank Group, in 2016, 3.41 billion people worldwide were active internet users. The global B2C e-commerce market generated a revenue of S2.26 trillion in 2017. With nearly 250 million internet users and over 200 million digital buyers generating S460.35 billion in the online retail market in the US in 2017, the channel exhibited high growth potential for the sale of products across all segments including groceries. Another major growth factor leading to increased popularity and adoption of e-commerce platform is the increasing internet penetration globally. According to the World Bank Group (data published as of July 25. 2018), in 2016 the global internet penetration reached 45.78%, which enabled a large section of consumers to gain access to online retail platforms and promote the omnichannel model of shopping.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growth in demand for functional foods and beverages as one of the key emerging trends in the global online grocery delivery services market:
Global online grocery delivery services market: Growth in demand for functional foods and beverages
The demand for functional foods and beverages is rapidly growing among consumers worldwide due to health benefits such as enhanced immune system, improved mental strength, improved heart rate, improved digestive health, hydration and electrolyte replenishing benefits, and better intestinal flora and gut function. Further, consumers are spending more on non-traditional fitness activities such as yoga and aerobics, and thus, prefer consuming functional foods and beverages as a healthy source of nutrition. This growing need and aspiration of customers regarding functional food are further propelling its demand across the globe. As these functional foods and beverages are not readily available in brick-and-mortar stores, consumers buy them online. Vendors of functional foods and beverages are also marketing their products with the help of effective labeling and product formulation. Online grocers and grocery delivery service providers are showcasing and offering these products to widen their product portfolio so as to capture more share in the global online grocery delivery services market.
“Apart from increasing e-commerce, the rapid growth in m-commerce, growing popularity of fast delivery services, and increased M&A activities and strategic alliances is expected to contribute largely to the growth of the market, during the forecast period,” says a senior analyst at Technavio.
Global online grocery delivery services market: Segmentation analysis
This market research report segments the global online grocery delivery services market by end-user (individuals and others) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share close to 59%, followed by EMEA and Americas respectively. During the forecast period, the Americas is expected to register the highest incremental growth of close to 1%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20190103005450/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST
INDUSTRY KEYWORD: ONLINE RETAIL PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES RETAIL SUPERMARKET
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 01/03/2019 10:34 AM/DISC: 01/03/2019 10:34 AM