The latest report by IMARC, titled “Europe Online Grocery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that Europe Online Grocery Market is expected to grow at a CAGR of 16.5% during the forecast period (2022-2027). Online grocery is a service provided by numerous platforms which offer various fresh and packaged products, such as fruits, dairy products, vegetables, meat, frozen food, beverages, and other cooking essentials. Some of the added advantages offered by these websites include express delivery options, cashback and discounted offers, and instant payment gateways. In recent years, online grocery shopping has gained momentum in Europe due to the busy lifestyles of the masses and faster delivery of products with doorstep facilities over traditional shopping.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will be integrated into the market.
Europe Online Grocery Market Trends:
One of the primary factors driving the market is the changing shopping preferences of individuals on account of the sudden outbreak of the coronavirus disease (COVID-19). Additionally, the significant growth of the e-commerce industry in the past years is positively influencing the market growth. Other than this, online grocery shopping platforms offer numerous options of online payments along with the assurance of contactless deliveries, thus creating a positive market outlook. Besides this, the extensive investments by key players in promotional campaigns and the increasing penetration of social media apps, including Facebook and Instagram, has created a strong influence on the consumers while allowing the market players to expand their consumer base by conversing with potential and existing consumers; thereby escalating the demand for online grocery in Europe. Furthermore, the integration of advanced technologies, including the Internet of Things (IoT), artificial intelligence (AI), and Big Data, which enable brands to predict customer behavior for targeted advertising, are driving the market growth. Moreover, online distribution channels offer more benefits to consumers as compared to traditional channels. For instance, e-commerce platforms allow customers to compare numerous products and make informed decisions at their convenience while avoiding crowds. Along with this, features such as order history for reordering and saved preferences are also escalating the demand for online grocery shopping platforms across the region.
- Based on the product type, the market has been divided into vegetables and fruits, dairy products, staples and cooking essentials, snacks, meat and seafood, and others.
- On the basis of the business mode, the market has been segmented into pure marketplace, hybrid marketplace, and others.
- Based on the platform, the market has been bifurcated into web- and app-based.
- On the basis of the purchase type, the market has been categorized into one-time and subscription.
- Country-wise, the market has been classified into Germany, France, the United Kingdom, Italy, Spain, and others.
- The competitive landscape of the market has also been analyzed, along with the detailed profiles of the key players operating in the industry.
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