Vietnam Online Grocery Market Growth, Trends, Report 2023, Business Analysis and Competition 2032: SPER Market Research
According to SPER Market Research, Inadequacies in offline grocery purchasing, such as the bother of commuting, protracted payment lines, and the price of impulsive purchases, were the driving forces for the creation of e-grocery delivery in Vietnam. A crucial demographic for online food purchases is the group of people from adult age group. The sector is currently expanding, with a double-digit CAGR. Due to Vietnam’s high internet penetration, expanding working population, and growth in single-parent families, e-grocery services have become more and more popular. In addition to food and beverages, businesses have expanded their product lines to include home items, fresh foods, seafood, and meat, as well as other product categories. Beauty and health products are the two with the most demand. Then came fresh food and meals and drinks. Businesses are encouraged to focus on improving their ties with suppliers and grocery stores in order to fulfil customer requests. Future technological advancements like voice ordering, drone delivery, and others are anticipated to boost demand. Future market consolidation is anticipated as well-known large-cap organisations buy obscure companies.
Vietnam Online Grocery Market Overview:
- Forecast CAGR (2022–2032): XX%
- Forecast Market Size (2032): XX billion
When the COVID-19 pandemic hit Vietnam, its Market immediately suffered financially and psychologically. Grocery store aisles were deserted, and consumers’ fears of contracting the virus were heightened by lengthy queues and crowded stores. In order to stay safe and get away from the chaos, shoppers were looking for alternatives to in-store purchasing. Grocery stores around the nation responded by expanding their online shopping choices, introducing delivery alternatives, and introducing curbside pickup. Customers like online shopping because of the convenience and range of food options it offers, proving that this pandemic trend is here to stay even if people initially started doing their shopping online to avoid becoming sick. The simplicity with which consumers may skip lengthy queues for parking, payment, and traffic, as well as the comfort of not having to be at home to pick up their order, contributes to the popularity of the Vietnam Online Grocery Delivery service. The growth of the working population and greater internet usage have led to an expansion of e-grocery services.
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Vietnam Online Grocery Market Key Players:
The study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as: Annam Gourmet, Bach Hoa Xanh, Chopp, Co.opmart, Farmer’s Market, GrabMart, Grocery eCommerce Solutions, Lazada, Organica, Shopee, Tiki, WinMart.
Vietnam Online Grocery Market Segmentation:
By Product Category: Based on the Product Category, Vietnam Online Grocery Market is segmented as; Beauty & Health, Food & Beverages Fresh Food, Household supplies, Others.
By Mode of Payment: Based on the Mode of Payment, Vietnam Online Grocery Market is segmented as; Cash on Delivery, Online Payments.
By Age Group: Based on the Age Group, Vietnam Online Grocery Market is segmented as; 18-24 years, 25-34 years, 35-44 years, 45+ years.
By Type of Business: Based on the Type of Business, Vietnam Online Grocery Market is segmented as; B2B, B2C.
By Mode of Delivery: Based on the Mode of Delivery, Vietnam Online Grocery Market is segmented as; In a specific time period, Express Delivery, Others.
By Region: The two largest cities in Vietnam in terms of population and urbanisation are Ho Chi Minh City and Hanoi. These cities have the necessary infrastructure for setting up storage facilities, transportation, grocery shopping, and other back-end tasks. In Ho Chi Minh City, Hanoi, and Da Nang, the majority of working professionals who utilise online grocery delivery services are concentrated. This report also provides the data for key regional segments of Central Highlands, Mekong River Delta, North Central Coast, Northeast and other parts of Vietnam.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Vietnam Online Grocery Market Revenue
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SPER Market Research