New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food And Beverages E-Commerce Global Market Report 2023" - https://www.reportlinker.com/p06282517/?utm_source=GNW
Major players in the food and beverage (F&B) e-commerce market are Amazon Fresh, Peapod, Google Express, Walmart, Pepsi Co, General Mills, Nature Box, Thrive Market, Costco, and Kroger.
The global food & beverages e-commerce market will grow from $57.09 billion in 2022 to $69.77 billion in 2023 at a compound annual growth rate (CAGR) of 22.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The food & beverages e-commerce market is expected to grow to $140.42 billion in 2027 at a CAGR of 19.1%.
The food and beverage (F&B) e-commerce market includes revenues earned by entities by fresh, prepared, packaged foods and alcoholic and non-alcoholic beverages.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The food and beverage (F&B) e-commerce refers to online sales of food and beverage and related services, primarily for household consumption. The food and beverage eCommerce comprises of processing raw food materials and beverages, packaging, distributing them, and having an online portal or an application for their sales.
North America was the largest region in the food and beverage (F&B) e-commerce market in 2022.Asia Pacific was the second-largest region in the food and beverage (F&B) e-commerce market.
The regions covered in the food and beverage (F&B) e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of food and beverage (F&B) e-commerce are grocery delivery and pickup, DTC products, meal kits, fresh ready-to-eat meals, and restaurant meal delivery.DTC products refer to the method of distributing a product directly to a consumer rather than using wholesalers as middlemen or limiting sales to retail outlets.
The various delivery channels included are pick-up, home delivery that is used by households, and business end-users.
An increase in smartphone users has given a boost to food and beverage (F&B) e-commerce sales worldwide.Smartphone users are the primary online shoppers for the F&B industry, and with the increasing number of them, there is a potential increase in online shopping for food and beverages.
As per an article published by DataReportal, the number of smartphone users in 2020 reached 5.22 billion which was about 66% of the world’s population. General Mills, a US-based grocery store chain, is already seeing 10% of its sales occur online, and by 2022, online grocery shopping is expected to be a $100 billion business. Hence, an increase in smartphone users and internet penetration is driving growth in F&B e-commerce.
Supplier and producer costs will be the key restraints for the food and beverage e-commerce market.These include the costs incurred for order fulfillment; delivery costs; adjusting business resources to dynamic market demand; and last-mile connectivity.
Besides, there are the costs of cardboard boxes for packaging, gas, mileage, and driver time to factor in.A report from SAP community indicated that as the penetration of e-commerce increased, the profit margin decreased in 2022.
The profit margins decreased from 6.4% to 4.5%. Since the majority of products have a very limited shelf life, the supply chain has to have no gaps, be robust, and have zero resource wastage to achieve profitable margins. Therefore, the costs incurred by the supplier side may restrain the growth of the food and beverage market.
With an increase in technology and changing human interaction with any product or service, online shopping and web surfing for Food & Beverage (F&B) products or services is diurnal.This is positively affecting F&B e-commerce.
In 2022, there were 2.14 billion online shoppers which accounted for 27% of total world population. 80% of consumers prefer detailed information about purchases and consider this crucial to making buying decisions. Hence, this trend will boost and increase the scope for online food and beverage businesses.
In March 2022, Emami Ltd, an Indian manufacturer and seller of personal care products, acquired 19% stake in TruNative F&B Pvt Ltd.The acquisition would allow Emami to enter a new business segment.
Trunative F&B is a Mumbai-based D2C nutrition company.
The countries covered in the food and beverage (F&B) e-commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The food and beverage (F&B) e-commerce market research report is one of a series of new reports that provides food and beverage (F&B) e-commerce market statistics, including food and beverage (F&B) e-commerce industry global market size, regional shares, competitors with a food and beverage (F&B) e-commerce market share, detailed food and beverage (F&B) e-commerce market segments, market trends and opportunities, and any further data you may need to thrive in the food and beverage (F&B) e-commerce industry. This food and beverage (F&B) e-commerce market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06282517/?utm_source=GNW
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