COVID-19 Impact – Online Grocery Market Growth to Peak Owing to Consumption of Essential Items

Online grocery shopping was the luxury of the few owning smartphones and with access to online payment channels. The process is seamless with items being delivered within a specific period and options of paying it instantly or to the delivery person. The outbreak of COVID-19 has brought economies worldwide at a standstill with majority of supply and chain routes being stopped to decelerate the spread of the virus. Market Research Future (MRFR) identifies causes and preventive measures to be taken by major players for the period of 2020 to 2026 (forecast period).

Market Scope

The global online grocery market is projected to gain a constant stream of revenue during the forecast period due to guidelines outlined by governments worldwide to not gather at a particular place. Social distancing has been prescribed at all essential places combined with extra precautions as a preventive measure against COVID-19. According to the United Nations Conference on Trade and Development, e-commerce sales were valued to exceed USD 32 trillion in 2019. This has led to online stores putting pressure on its employees to cater to the growing online demand.

Contactless deliveries are on the rise with most ecommerce stores practicing pick and drop policies to minimize the spread of infection. Hyperlocal deliveries are being allowed by online stores to ensure customers get their essentials. These stores are ready to pick up deliveries from nearby stores as well. Drone deliveries have the potential to assist online stores but only with the relaxation of policies.

Restrictions on exports and imports of essential items can hamper the global online grocery market growth.

Segmentation

The market sectors covered in the market report includes packaged, processed food & beverages, baby care products, household cleaning products, personal care & hygiene, and fresh fruits & vegetables.

Packaged, processed food & beverages are divided into packaged, processed foods and beverages. The former comprises baby food, bakery & confectionery, meat, poultry, and sea food, dairy & frozen desserts, sweet & savory snacks, and others. While the latter is split into 2 main segments – alcoholic and non-alcoholic beverages. Non-alcoholic beverages encompass RTD tea & coffee, carbonated soft drinks, probiotic drinks, bottled water, juices, sports & energy drinks, and others. Lastly, the personal care & hygiene segment comprises sheet face masks, face masks, hair care, skin care, hand hygiene, cosmetics & color, and supplements.

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Regional Analysis

Geographically, the COVID-19 impact on the global online grocery market covers Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).

North America had accounted for the major share of the global online grocery market. Toilet paper, wipes, and pet food had seen an immediate spike with the lockdown of states being made eminent. Sales of consumer goods have gone up in almost all states, with the shortage of essentials being unavailable to customers.

Europe had witnessed a yearly growth of 8.62% in 2018, with the online grocery market in the region valued at USD 33,450.9 million in 2019. Online shopping may see a rise even after the end of the pandemic with consumers preferring the online medium for their essential needs. The skepticism towards traditional stores is a plus for the global online grocery market in the coming years due to the virus. Change in consumer buying habits and establishment of required framework to handle the gap in demand and supply can facilitate continuous growth in the regional market.

APAC is likely to command a huge share of the demand of the global online grocery market owing to the large populace, awareness of the pandemic and preventive measures taken, and steps taken by governments to partner with online groceries to ensure home deliveries. China, Japan, and South Korea are the biggest revenue generators of the region.

International players and local players are struggling with the supply of groceries owing to embargoes placed by governments to curb the proliferation of the virus. International players are partnering with local players to ensure the safe delivery of products and taking the assistance of respective governments globally.

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Note: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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