LONDON--(BUSINESS WIRE)--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 Technavio.
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 global online grocery delivery services market 2018-2022 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.
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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%.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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