The online Grocery Market is expected to foresee significant growth during the forecast period. North America to witness the highest growth
- Vikas Kumar
- September 29, 2021
- CONSUMER GOODS, NEWS
- Online Grocery Market, Online Grocery Market Growth, Online Grocery Market share, Online Grocery Market Size, Online Grocery Market Trend
- 0 Comments
Online Grocery Market is expected to reach the market valuation of US$ XX million by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from US$ XX million in 2020.
Online shopping for groceries is not a new phenomenon in India as it has been there for the past many years. Ordering online for groceries such as daily FMCG products, vegetables, etc. has propelled the e-commerce market in India towards hasty growth. Moreover, the e-grocery sector got a major boost during 2019-2020 due to the COVID-19 pandemic, when out of necessity, most Indian households who were not buying online earlier, also started to shop online for groceries due to several government regulations and lockdown in the country.
For a detailed analysis of Online Grocery browse through https://univdatos.com/report/india-online-grocery-market/
As of 2020, there are around 130 Million e-grocery addressable households in India. Moreover, a rise in internet penetration coupled with the adoption of smartphones is one of the prominent reasons, driving the online grocery market in India. As per the World Bank, the internet penetration in India has increased from 17% in 2015 to 34.4% in 2019. Also, In 2020, the penetration rate of smartphones in India reached 54% and was estimated to reach 96% in 2040, as revealed by Statista. Also, the surging digitalization by the small players is acting as a growth catalyst to the industry. More than 90 percent of the market is unorganized, dominated by more than 13 million small mom-and-pop stores, As per a report by Kearney, More than 25 percent of the organized grocery market’s growth over the next few years could come from online shopping
A rise in the working couple and nuclear families in the country is leading to the greater demand for e-services including online grocery. As per the world bank, there were about 477.3 Mn people employed in the country in 2015, the number increased to 494.7 Mn in 2019. Also, more than 50% of families in the country are nuclear, as per Indian Census Data. The hectic and bust lifestyle leads to the growing demand for online groceries.
For a detailed analysis of the COVID-19 Impact on Online Grocery browse through https://univdatos.com/report/india-online-grocery-market/
The current COVID-19 pandemic has heightened unprecedented uncertainty and complex challenges over the retail industry. Remarkably in some cases, COVID-19 has accelerated the demand of online grocery businesses. Online grocery shopping has experienced solid growth and this medium is expected to continue rising exponentially in the coming years. The current pandemic has attracted many consumers towards online shopping to avoid crowded places and human contact. A report by TOI studying the recent studies shows the trends in online shopping of groceries is likely to increase two folds in this year. This year has witnessed a 76% surge in online shopping for groceries. With the increasing consumer base for shopping online for groceries, many major retail brands like Zomato, JioMart, and Swiggy have started selling groceries online. Other retail brands like Grofers, Big Basket, Amazon, etc. have also witnessed an increase of about 60% in the sale of groceries since the current pandemic
Based on the Category, the market is fragmented into Fresh Produce, Breakfast & Dairy, Snacks, and Beverages, Meat, and Seafood, Staples and Cooking essentials, Others. The staples and cooking essentials segment dominated the market in 2020 and gathered XX% in 2020. Moreover, the segment is anticipated to maintain its dominance during the analyzed period. The demand for this segment is witnessing an uptick as the constant shopping of staples that include flours, food grains, and cooking essentials like refined oil that are basic requirements of many
Based on the Payment Method, the market is fragmented into Cash on Delivery, Online Payment and Cards, E-Wallets, and Others. The Cash on delivery segment grabbed the major market share and dominated the market. The segment captured XX% market share in 2020. As per a survey by Nielsen’s Global Connected Commerce, almost 83% of consumers in India prefer cash on delivery as a payment mode for online purchases
For a detailed analysis of the Region in Online Grocery browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=9928
Additionally, the report provides detailed initiatives that are being taken in the field of Online Grocery. The market is classified into distinct regions including North, East, West, and South. South India region dominated the market with US$ XX million in 2020. However, the North India region is expected to witness the highest CAGR during the forecast period on account of rising disposable income and demand for processed and packaged food in the countries such as China, India, and Japan.
Online Grocery Market Segmentation
Market Insight, by Category
- Fresh Produce
- Breakfast & Dairy
- Snacks & Beverages
- Meat & Seafood
- Staples & Cooking Essentials
Market Insight, by Payment Method
- Cash on Delivery
- Online Payments & Cards
Market Insight, by Purchase Type
- One-Time Purchase
Market Insight, by Platform Type
Market Insight, by Region
Top Company Profiles
- Amazon India Pvt. Ltd.
- Godrej Nature’s Basket Ltd.
- Grofers India Pvt. Ltd.
- Paytm E-Commerce Pvt. Ltd. (Paytm Mall)
- Reliance Retail Ltd. (Reliance Fresh)
- Supermarket Grocery Supplies Pvt. Ltd. (BigBasket)
- MyGrahak Shopping Online Limited