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The Latin America online grocery market is currently witnessing robust growth. Online grocery refers to the selling and purchasing of fresh and packaged products via mobile apps or e-commerce websites. It enables the customer to choose from flexible payment options, select delivery slots, track the delivery process, and access various products. As a result, purchasing groceries online is gaining traction, especially among the working population of Latin America.
At present, the leading players in Latin America are focusing on increasing investments to expand their consumer base and boost their product sales. For instance, the Latin America Venture Capital Association (LAVCA) invested US$4.6 billion, announcing 2019 as the venture capital fundraising year. Apart from this, the boosting sales of smartphones, rising internet penetration and the increasing influence of social media platforms are other major factors propelling the market growth. Furthermore, the sudden outbreak of the coronavirus disease (COVID-19) has resulted in the increasing sales of groceries through online distribution channels. This can be accredited to the imposition of lockdowns by governing authorities to promote social distancing measures and consequent disruptions in the supply chain. Looking forward, the market is expected to continue its robust growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America online grocery market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type, business model, platform and purchase type.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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