B2B Online Grocery Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F Segmented By Product Category (Fruits & Vegetables (Raw & Processed), Condiments and Seasoning, Food Grains & Flours, Bread & Bakery, Dairy Products, Meat, Poultry & Seafood, Others (Other Snacks & Confectionery, Beverages, Others Processed Foods, etc.)), By Mode of Payment (Pre-Delivery Online P
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationB2B Online Grocery Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032F Segmented By Product Category (Fruits & Vegetables (Raw & Processed), Condiments and Seasoning, Food Grains & Flours, Bread & Bakery, Dairy Products, Meat, Poultry & Seafood, Others (Other Snacks & Confectionery, Beverages, Others Processed Foods, etc.)), By Mode of Payment (Pre-Delivery Online P
The global B2B online grocery market is anticipated to project robust growth in the forecast period owing to broader options for purchase and selling, rising millennial and Gen Z category of business merchants who are more interested in online mode. Therefore, the focus on growing awareness among businesses regarding the significance of B2B online grocery is positively influencing the growth of the market.
Due to growing initiatives by massive corporations like Amazon and Walmart, the global B2B online grocery market has seen an increase in the number of businesses switching to online platforms for the mode of purchase. Businesses are drawn to these B2B online platforms for a number of reasons, including the availability of wide platforms to offer their respective groceries on a large scale and attractive business membership options. For instance, Amazon provides a platform for businesses called "Amazon Business Membership" that facilitates things like bulk supply retailers, recurring deliveries, quantity discounts, and simplified purchasing. Therefore, the market growth is being significantly influenced by these expanding promotional partnership activities.
Research from 2021 found that 53% of American consumers expect to keep using online grocery pickup or delivery, a trend that was previously fueled by COVID-19 worries and is now driven by consumers' desire for convenience. In the food and beverage industry, B2B buyers report that they place over numerable business-critical orders or purchases each day on average, with 44% of suppliers using e-commerce websites as their preferred channel. But regrettably, daily online order errors affect almost 5% of those customers. Only 48% of industry buyers report that their expectations of suppliers' websites are fully or somewhat met, with the other 50% reporting that their expectations are not at all met.
The way the world conducts business has changed as a result of supply chain disruption, shipping delays, worker shortages, and international conflict due to various conflicting global issues such as COVID-19 pandemic, and war situation between Russia and Ukraine had a significant impact on imports and exports activities. In B2B ecommerce, new trends in 2022, include faster order fulfilment, personalization, and customer self-service.
Rising Preference for Selling Through third-party Online Marketplaces Influencing the Demand for B2B Online Grocery
The market is expanding due to the rising popularity of online grocery sales, as it is a popular place for B2B buyers to begin their product search. Then, shopping frequently follows browsing. Amazon's net sales from its third-party seller services increased by 13% during the second quarter of 2022 as compared to the same period in 2017. Additionally, 15% of US customers and 20% of UK customers respectively use Amazon Business to make purchases. That's just one of many third-party B2B marketplaces that are accessible. One key benefit of third-party online marketplaces is their ability to attract new buyers. B2B brands now have a new chance to explore international markets and test out novel products.
Growing Tie-ups Aiding the Market Growth
Unlike B2C, where this is not possible, supply companies in the B2B grocery sector attract their customers (businessman) by offering discounts or special deals on a specific product or when a certain volume is purchased. Based on the pricing agreements that suppliers and businesses enter into, the market price of any given item is maintained constant, and price transparency in the food B2B sector is maintained. Several B2C online sales channels converted to a B2B model as a result. For instance, the Indian startup company "GrocNation" with headquarters in Ahmedabad stopped offering its online B2C grocery delivery service as soon as it recognized that B2B offered better business opportunities.
Rising Internet Usage Driving the Market Growth
The rapid rise in internet usage across the world is one of the primary drivers of the market's expansion. Currently, 5.07 billion people, or about 63.5 percent of the world's population, use the internet. About 2.14 billion of them are online shoppers, a significant increase from the previous few years. These elements are some of the things luring customers to online food delivery services, which is fueling the market's expansion..
Market Segmentation
The global B2B online grocery market is segmented based on product category, mode of payment, region, and competitional landscape. Based on product category, the market is further fragmented into Fruits & Vegetables (Raw & Processed), Condiments and Seasoning, Food Grains & Flours, Bread & Bakery, Dairy Products, Meat, Poultry & Seafood, Others (Snacks & Confectionery, Beverages, Others Processed Foods, etc.). Based on mode of payment, the market is segmented into Pre-Delivery Online Payment, Online Payment on Delivery and Cash on Delivery.
Company Profiles
Walmart Inc., Alibaba Group, Amazon.com, Inc., The Kroger Co., EC21, Inc., eWorldTrade, Inc., BigBuy, 3 Seasons Technology Co.,Ltd. (eFoodChoice), OKNETTV PTY LTD (Agorara) SeeBiz Inc.
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