Rockville, Md., May 13, 2019 /PRNewswire/ — Global food e-commerce sales are expected to nearly triple by 2023, rising to $321 billion and accounting for nearly 5% of total e-commerce revenue, according to market research firm Packaged Facts in the new report Global food e-commerce.
Packaged Facts projects the Asia Pacific The region will account for the majority of the absolute growth, mainly due to the rapid expansion of the Chinese market. China dominates regional online grocery business in part because of the country’s large urban population and growing middle class. Moreover, a large part of China a very large population has access to high-tech devices and the ability to shop online, due to the country’s position at the forefront of technological development and electronics.
In 2018, more than 75% of food e-commerce revenues were concentrated in the five main markets: ChinaUnited States, Japanthe UK and South Korea. In each of these countries, online grocery spending is highest in major urban centers, where many retailers have focused their marketing efforts on door-to-door delivery or click-and-collect services.
Through 2023, demand growth in these countries will be driven by these five key factors identified by Packaged Facts:
- Increase comfort for existing online shoppers to make routine grocery purchases online
- Growing use of subscriptions and memberships with online retailers, which can drive retailer loyalty and increase online sales
- Increased broadband internet penetration in rural and remote areas that previously only had access to dial-up access
- Increased acceptance and increased investment in home delivery, click-and-collect and fulfillment formats in an increasingly omnichannel retail environment
- Data security enhancements that ease consumers’ fears of having their personal information stolen while shopping online
To learn more, buy Global food e-commerce. And don’t miss our accompanying report USA Online Grocery, 2nd Edition.
About the report: Global food e-commerce
This Packaged Facts report covers the scope, size and growth of the global food e-commerce (i.e. e-grocery or e-grocery) market, including key trends in major regions and national markets. Historical data is provided for 2013 and 2018 with forecasts for 2023 and 2028. Historical market volatility year by year is also discussed. Data is provided in dollars. An analysis of major industry players and their competitive strategies is also included.
Food e-commerce sales are broken down for the following regions and countries:
- North America (United States and Canada)
- West & Eastern Europe (UK, Germanyand France)
- Asia Pacific (China, Japan, South Korea, India)
- Latin America
- Africa/Middle East
View additional information about Global food e-commerceincluding shopping options, summary, table of contents and related reports on the Packaged Facts website: https://www.packagedfacts.com/Global-Food-Commerce-12393622/.
About Packed Facts
Packaged Facts, a division of MarketResearch.com, publishes business intelligence on a wide range of consumer market topics, including consumer demographics and buyer information, consumer financial products and services, consumer and retail, and pet products and services. Packaged Facts also offers a full suite of custom research services. The reports can be purchased from our company’s website and are also available through MarketResearch.com.
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SOURCE Packed Facts