As per the market analysis at FMI, the hyperlocal grocery Delivery market is valued at US$ 38.5 Billion in 2022 and is likely to reach US$ 81.5 billion by 2032, flourishing at a promising CAGR of 7.8%.
Due to their ability to deliver meals directly to customers’ doorsteps, hyperlocal grocery delivery services, which are extensively accessible in consumer and neighbourhood retail establishments, are gaining popularity among millennials and drawing in older adults as well.
Hyperlocal marketplaces provide goods and services within a certain radius, whilst hyperlocal food delivery services provide groceries in nearby communities. Thanks to the usage of hyperlocal grocery delivery services, there are discounts, major product availability, good speed, and online payment integration.
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The popularity of hyperlocal grocery delivery platforms amongst the elderly class is prevalent as it’s hard for them to go out and buy groceries and transport it all to their residence. Hyperlocal grocery delivery platforms help in delivering the market growth, especially after the advent of covid-19
The growing delivery services along with discounts and free home delivery services are pushing the end users to adopt or switch to hyperlocal grocery delivery platforms, rapidly digitizing the goods and services space.
The hyperlocal grocery delivery platforms have also given a second life to the local vendors and supermarkets, especially during the peak of the pandemic.
Key Takeaways:
- The hyperlocal grocery delivery market is divided into Food Type, Business Model, Delivery Type, Payment Method, Preferred Location, Order type and Purchaser type.
- The hyperlocal grocery delivery market outlook defines its delivery type categories into Click-and-collect and Home Delivery. The leading segment in the delivery type category is home delivery segment.
- Global trends in the hyperlocal grocery delivery market are the faster in-time delivery, navigation systems and online payment options set up the latest trends for the hyperlocal grocery delivery market.
- The key behind the good strategy of vendors is to provide the user with better use experience. This pushes the sales of hyperlocal grocery delivery system. New advanced smartphone apps are also helping the hyperlocal grocery delivery market gain traction.
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Competitive Landscape:
Some of the hyperlocal grocery delivery market key players listed in the study are Gofers India Private Limited, Asfortask Inc, Just Eat Takeaway, Uber Technologies and Instacart.
Recent Developments
- Gofers India Private Limited has improved its payment options along with utmost trust prospects and safety options. These fuels the sales of other grocery delivery platforms.
- Asfortask Inc has introduced the use of trust and safety and an option of flexible rescheduling that allows the end user to cancel their order 24 hours before the task due date, pushing the sales of hyperlocal grocery delivery platforms.
Key Segments:
By Food Type:
- Fresh Food
- Delicatesses & Ready Meal
- Butchery & Poultry
- Bakery & Pastry, Fruits & Vegetable,
- Fishery, Dairy & Eggs
- Groceries
- Organic & Free-From
- Beverages, Food Cupboard
By Business Model:
- Single Store Model,
- Store Pick Model,
- Hybrid Model,
- Aggregator Model
By Purchaser Type:
- One Time Purchase
- Subscription
By Delivery Type:
- Click-to-click Collect
- Home Delivery
By End User:
- Individual
- Distributor – Large Enterprises and SME
By Region:
- United States
- United Kingdom
- China
- Japan
- South Korea
Frequently Asked Questions
- What is the CAGR of the Hyperlocal grocery delivery Market?
- Which Segment leads in the Hyperlocal grocery delivery Market by Product Type?
- Which Region has the Highest Growth Potential in Hyperlocal grocery delivery Market?
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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