Press Release
China Online Grocery Market to be Aided by the Growth of China’s Grocery Market.
According to a new report by EMR titled, ‘China Online Grocery Market Report and Forecast 2021-2026’, In 2020, the market reached almost the value of USD 65.5 billion. The country's grocery market reached a value of almost 1.3 trillion in 2017. The online sales of food products in China are expected to grow rapidly in the coming years.
China online grocery market is growing rapidly and is expected to witness further growth in the coming years. China is the world's major e-commerce and retail sector. In 2016, it was the biggest industry for e-commerce. Packaged food is a major driver for the growth of China online grocery market. In 2016, the online sales of packaged food exceeded USD 18.4 billion. The major online products bought by Chinese consumers within the packaged food segment were baby food, dairy, rice, pasta and noodles. Baby foods and dairy are the most purchased items in this category, accounting for the highest sales. Beverages and fresh foods are the next important segments of the sector, accompanied by packaged products.
The packaged food industry is dominant in the country's online grocery industry. The key competitors in China's online grocery sector are Alibaba (NYSE: BABA) and JD.com (NASDAQ: JD), holding strong position in the market. Alibaba is most likely to expand its reach in China as well as globally after the great response from consumers. In 2018, the company’s delivery network handled more than 25 billion packages generated on its marketplaces.
Market Analysis by Category, Platform, Payment Method, and Regions:
- The categories can be divided into grocery and staples, fruits and vegetables among others.
- The grocery order can be placed via a website or mobile application offering several options.
- The payment methods are online payments and cash on delivery.
- The major regional markets are Shanghai, Zhejiang, Guangdong, Jiangsu, Beijing, and others.
Key Findings of the Report:
- The China online grocery market is aided by the higher penetration of internet and smartphones.
- China's online grocery industry is further propelled by the growing disposable income of people.
- The increase in the online payment applications and the shift towards going cashless is driving the market growth.
- The sector is being driven by increased infrastructure assistance and continued enhancement of technology for e-commerce enterprises.
- The rising population in the urban areas of China is also supporting the growth of the online grocery market.
- The industry is driven by the large population of thousands of consumers, especially millennials, who are willing to experiment with new platforms and to try international markets.
Key Offerings of the Report:
- The EMR report gives an overview of the China online grocery market for the periods (2016-2020) and (2021-2026).
- The report provides historical (2016-2020) and forecast (2021-2026) market information for the platform, payment method, and regions of the market.
The key players are Alibaba Group Holding Ltd., JD.com Inc., Meituan, Miss Fresh, Amazon.com Inc., and among others. The EMR report investigates the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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