Online Shopping is Becoming a Trend in Online Grocery Market

Online Grocery Market is Led by the APAC Region

The online grocery market will reach a value of USD 1,667 billion by 2030 from an estimated value of USD 346 billion in 2023, at a compound annual growth rate of 25.2% by the end of this decade.

The outbreak of the pandemic has brought about a shift in the shopping behavior of the customers, also powered by the several choices for online shopping. The expansion of the e-commerce industry is the essential factor advancing this trend.

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Furthermore, grocers are introducing pioneering delivery models and offering alluring discounts to tempt customers. Additionally, the increasing income due to the rampant urbanization is playing an important role in the development of the industry.

Staples & cooking essentials are leading the industry in the current scenario, attributed to the repetitive buying of staples, for example flours, food grains, and cooking oil. These are considered necessities, particularly in the households of the APAC region.

The category will advance in the years to come as customers remain uncertain about going out and shopping things they want daily and wish to avoid crowds.

The breakfast & dairy category will grow the fastest in the years to come. Just like cooking essentials, a growing count of people are buying milk, eggs, bread, packaged cereals, and other essentials from e-commerce portals.

For milk, breads, and other repetitive purchases, many people buy subscriptions online, wherein the portal delivers the products at the door at a specified time. A hysterical lifestyle and the snowballing per capita income are additionally encouraging consumers for ordering such items from online channels, before going to a physical store.

The home delivery category is generating the higher revenue. This is for the reason that the suitability of home deliveries over the click-and-collect model, particularly among the heightened consciousness of social distancing since the pandemic.

Additionally, lifestyles are more and more busy these days, which leaves individuals with less time to visit the store for picking up the stuff they have ordered.

The APAC region has led the online grocery market recently, and it will to grow the fastest in the future. This can be accredited to the steps taken by the government of China and India for encouraging digitalization and e-commerce.

For instance, in the year 2016, the Indian government permitted 100% FDI in food retail, as well as via e-commerce platforms, provided that the products are handled, produced, and manufactured in the nation itself.

 The increasing inclination of the people all over the world for buying grocery products online, especially during the duration of the pandemic, is resulting in the increasing demand for buying online grocery.

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