-In the United States, online sales of food and beverages will have grown at an annual rate of 21% between 2018 and 2023, reaching $38 billion this year, according to eMarketer. Growth is expected to continue at a strong 15-20% annually until 2028.
-In the UK, online sales of food and drinks will reach £16 billion this year, with 13% annual growth since 2018, according to Mintel. Growth should be around 10-15% annually in the coming years.
-In China, online sales of fresh food will have grown 22% annually until 2023, reaching $225 billion this year according to iiMedia Research. 15-20% annual growth is expected over the next 5 years to reach $382 billion in 2028.
– Globally, online sales of food and beverages will reach $330 billion in 2023, according to IGD. This implies 25% annual growth since 2020. Global growth should be around 15-20% annually until 2028 where sales will total $615 billion.
The key factors that continue to drive growth include:
– Accelerated e-commerce adoption by consumers post-pandemic. 60% of consumers globally are expected to make food purchases online by 2025.
– Improvements in logistics and last mile for fresh products, including increased use of dark stores and crowdshipping.
– Strong investment by traditional retailers in omnichannel and ecommerce capabilities. Walmart, Kroger and Tesco are leaders.
-Expansion of emerging instant food delivery companies like Gorillas, Getir and Flink to new markets.
– Innovation in subscription models and other solutions for a better online grocery shopping experience.
In conclusion, a very positive outlook and strong double-digit growth is anticipated for the online food and beverage sales industry globally over the next 5 years
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