Global Food E-commerce Market: Consumer Behavior Analysis by Countries, Buying Pattern Analysis, Demographics, Trends Analysis, Survey Findings and Results, Leading Companies and their Market Strategies

New York, July 08, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Food E-commerce Market: Consumer Behavior Analysis by Countries, Buying Pattern Analysis, Demographics, Trends Analysis, Survey Findings and Results, Leading Companies and their Market Strategies" - https://www.reportlinker.com/p05927309/?utm_source=GNW

The report also provides insights into the marketing strategies and steps taken by the companies to retain their market position in the local as well as global market. The study also provides insights into the factors affecting the buying decisions, consumer preferences, and the demographic factors promoting the growth of the products of the global food E-commerce market.

The global food E-commerce market size was valued at USD 138.39 million in 2019 and is anticipated to expand at a CAGR of 20.3% in terms of value during the forecast period of 2020 to 2026. Although the food and beverage sector is the largest retail category by a large margin, the industry has not yet widely adopted E-commerce when compared to sectors such as consumer electronics and household products. This is due to the perishable nature of food products that usually have unique storage and logistic requirements. However recent trends, technology development, and shopper sentiment indicate that the food E-commerce category is poised for rapid growth. Food retailers of all types and sizes are gaining market share and even dominate this sector with the right E-commerce strategy, technology, and logistics solutions in place. Several food retailers are starting to shake up the industry with outstanding E-commerce sites that attract and convert online shoppers.

Increasing comfort among existing online shoppers in making routine grocery purchases online driving the demand for food E-commerce across the globe. The customers can browse nearby restaurants that deliver food, access their menu, compare prices for similar food items, and place an order using a simple user interface. Furthermore, the high-speed internet and the growth in smartphone usage are increasing the demand for online food ordering and delivery businesses. The huge potential of the market has resulted in the proliferation of countless online food ordering and delivery websites, each with its own Unique Selling Proposition (USP). Furthermore, increasing the purchasing power of the global middle-class population is fueling the demand for food E-commerce.

China, the United States, Japan among Top Markets for Food E-commerce
Figure 1 Global Food E-commerce Market by Country, 2019 (Revenue % Share)

China is the largest food E-commerce consuming nation as it holds more than 45% market share of the Asia Pacific food E-commerce market and nearly 20% market share of the global food E-commerce market. Fresh food E-commerce becoming a very big business in China as the cold chain improves and hybrid online/offline models expand. Nearly half of Chinese consumers bought products online weekly. The U.S. holds an approximately 15% market share of the global food E-commerce market followed by Japan, India, and Germany. The U.S. has the largest consumer base in the food E-commerce in the North America region while Germany is the largest market in Europe.

Figure 2 Importance of Factors for the consumer of Food E-Commerce

The analyst has published a comprehensive research study based on a survey conducted to analyze the buying patterns, consumer behavior, and consumer preferences. The above figure shows the importance of factors to the consumer before consuming food E-commerce. Although convenience and time savings are important factors, home delivery facility and availability of variety are the most important factors for the consumers than the degree of comfort and time savings. Moreover, consumers are ready to pay extra charges for the home delivery facility and they also prefer a wide range of variety of foods while buying food.

Among the regions, Asia Pacific dominates the global food E-commerce market. It holds more than 40% market share of the global food E-commerce market. China is the largest consumer of food E-commerce as it holds approximately 20% market share of the global food E-commerce market. It is due to improving logistics networks which enable faster and more efficient purchases and deliveries. In this region, transformative technologies have enabled consumers to purchase a supermarket’s entire range without leaving their seats. North America is the second-largest and fastest-growing market for food E-commerce. The factors such as hassle-free delivery, easy and fast ordering, and minimum human interaction, which leads to fewer miscommunications are driving the demand for food E-commerce in the North America region.

Research Methodology

Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
• Key Opinion Leaders associated
• Internal and External subject matter experts
• Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
• Our primary research respondents typically include
• Executives working with leading companies in the market under review
• Product/brand/marketing managers
• CXO level executives
• Regional/zonal/ country managers
• Vice President level executives.

Methods of Primary Research
• Computer-assisted telephone interview (CATI)
• Computer-assisted personal interview (CAPI)
• Computer-assisted web interview (CAWI)
• Questionnaires/Surveys

Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources. The secondary sources of the data typically include
• Company reports and publications
• Government/institutional publications
• Trade and associations’ journals
• Databases such as WTO (World Trade Organization), OECD (The Organization for Economic Co-operation and Development), Hoovers, Factiva, and the World Bank, among others.
• Websites and publications by research agencies
Read the full report: https://www.reportlinker.com/p05927309/?utm_source=GNW

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