Market Insights eCommerce Online Food Delivery

Grocery Delivery - Asia

Asia

The Grocery Delivery market in Asia is expected to achieve remarkable revenue growth in the coming years.
According to projections, the market's revenue is set to reach a staggering €347.20bn by 2024.
Furthermore, the market is expected to exhibit a steady compound annual growth rate (CAGR 2024-2029) of 12.34%.
As a result, the projected market volume is estimated to reach an impressive €621.30bn by 2029.
Moving on to the Retail Delivery market, it is anticipated to have a market volume of €256.00bn in 2024.
However, when comparing the global market, it is worth noting that China is projected to generate the highest revenue, reaching €246.70bn in 2024.
In terms of average revenue per user (ARPU), the Grocery Delivery market is expected to amount to €361.20 per user in 2024.
Moreover, the number of users in the Grocery Delivery market is projected to reach approximately 1,389.0m users by 2029.
This indicates a substantial increase in user penetration, which is expected to reach 21.1% in 2024.
In Japan, the grocery delivery market is booming as consumers embrace the convenience and time-saving benefits of having their groceries delivered to their doorstep.

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Analyst Opinion

The demand for grocery delivery services in Asia has been on the rise in recent years.

Customer preferences: Customers in Asia are increasingly turning to online grocery shopping and delivery services due to the convenience and time-saving benefits they offer. The rise of e-commerce platforms and mobile apps has made it easier for consumers to order groceries online and have them delivered to their doorstep. Additionally, with the ongoing COVID-19 pandemic, many consumers are opting for contactless delivery options to minimize the risk of infection.

Trends in the market: In China, the grocery delivery market has seen significant growth in recent years, driven by the country's large population and increasing adoption of e-commerce platforms. Alibaba's Freshippo (also known as Hema) has emerged as a major player in the market, offering a unique hybrid model of online and offline shopping experiences. In India, the market has seen the entry of several players such as BigBasket and Grofers, which are competing to capture a share of the market. These companies are leveraging technology to offer a seamless shopping experience to customers, with features such as real-time order tracking and personalized recommendations.

Local special circumstances: In Southeast Asia, the grocery delivery market is highly fragmented, with a large number of players operating in different countries. For example, in Indonesia, several startups such as Gojek and Tokopedia have launched their own grocery delivery services to cater to the growing demand. However, the market is also facing challenges such as a lack of infrastructure and logistical challenges in delivering to remote areas.

Underlying macroeconomic factors: The growth of the grocery delivery market in Asia can be attributed to several macroeconomic factors such as rising urbanization, increasing disposable incomes, and a growing middle class. Additionally, the ongoing COVID-19 pandemic has accelerated the adoption of online shopping and delivery services, as consumers seek to minimize their exposure to the virus. Looking ahead, the market is expected to continue to grow as more consumers embrace the convenience and time-saving benefits of online grocery shopping and delivery.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.