January 29, 2023

Brad Marolf

Business & Finance Wonders

The Buy Now Pay Later Option Is Gaining Popularity In The Food And Beverages E-Commerce Market, By The Business Research Company

Avail a limited period discount of 33% on our uniquely designed Opportunities and Strategies market research reports. Contact us today and make winning strategies.

LONDON, Nov. 15, 2022 /PRNewswire/ — The buy now pay later option is becoming increasingly popular in the food and beverages e-commerce market trends. For instance, in 2022, Deliveroo, an online food delivery company, partnered with a Sweden based buy Now, pay later is a service provided by fintech company, option to offer customers the possibility to buy groceries and takeout food on credit. The BNPL option on Deliveroo is currently available for UK consumers.  Moreover, according to a report by Nytimes, an American daily newspaper based in the US, in 2022, Americans are increasingly turning to pay-later services for groceries and other everyday essentials.

The_Business_Research_Company_Logo

The global food and beverages e-commerce market size grew from $46.72 billion in 2021 to $57.09 billion in 2022 at a compound annual growth rate (CAGR) of 22.2%. The RussiaUkraine 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, effecting many markets across the globe. The food and beverages e-commerce market is expected to grow to $109.23 billion in 2026 at a CAGR of 17.6%.

Request a free sample of the Food And Beverages E-Commerce Market Report

Rapid Urbanization Will Drive The Food And Beverages E-Commerce Market

Rapid urbanization will drive the growth of the food and beverages e-commerce market. Urbanization increases the population and traffic in the cities, which will increase the demand for the delivery of food and beverage through e-commerce and impact the market in a positive way. For instance, according to the World Bank, in 2022, 4.4 billion people, or 56% of the total population are living in cities, and this is expected to double by 2050.  Therefore, rapid urbanization will support the food and beverages e-commerce market going forward.

Supplier And Product Costs – A Key Restraint For The Food And Beverages E-Commerce Market

Supplier and producer costs was key restraints for the food and beverages 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 Capgemini in 2019 shows that retailers’ net profit could fall by up to 26% in the next three years if they don’t radically improve last-mile solutions, despite increased online grocery sales.

North America Held The Largest Food And Beverages E-Commerce Market Share In 2021

As per the food and beverages e-commerce market research, North America was the largest region in the food and beverages e-commerce market and was worth $143.26 billion in 2021. The North America food and beverages e-commerce market is supported by a large urban population and the rise in smartphone and internet penetration, which supported the e-commerce market in the region. The market is also supported by economic developments that boost product innovation and digitization in countries such as USA, Canada, and Mexico.

See more on the Food And Beverages E-Commerce Market Report

Check out similar market reports:

Food And Beverage Services Global Market Report 2022 – By Type (Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors), By Ownership (Chain Market, Standalone Market), By Pricing (High-End, Economy) – Market Size, Trends, And Global Forecast 2022 – 2026

E-Commerce Global Market Report 2022 – By Model Type (Business To Business (B2B), Business To Consumer (B2C)), By Payment Mode (Card Payments, Bank Transfers, Digital Wallets, Cash Payments, Other Payment Modes), By Application (Home Appliances, Clothing And Footwear, Books, Cosmetics, Baby Goods, Groceries) – Market Size, Trends, And Global Forecast 2022-2026

Food And Beverage Stores Global Market Report 2022 – By Type (Specialty Food Stores, Beer, Wine And Liquor Stores), By Ownership (Retail Chain, Independent Retailer), By Price Range (Premium, Mid-Range, Economy) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information

The Business Research Company  
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]  
LinkedIn: https://in.linkedin.com/company/the-business-research-company  
Twitter: https://twitter.com/tbrc_info  
Facebook: https://www.facebook.com/TheBusinessResearchCompany  
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ  
Blog: http://blog.tbrc.info/  
Healthcare Blog: https://healthcareresearchreports.com/

Logo: https://mma.prnewswire.com/media/947575/The_Business_Research_Company_Logo.jpg

Cision

Cision

View original content:https://www.prnewswire.com/news-releases/the-buy-now-pay-later-option-is-gaining-popularity-in-the-food-and-beverages-e-commerce-market-by-the-business-research-company-301678841.html

SOURCE The Business Research Company