Global Functional Food and Beverage Market 2023

The Food And Beverages ECommerce Global Market Report 2023 by The Business Research Company, provides food and beverages ecommerce market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Food And Beverages ECommerce Global Market Report 2023, the market size is expected to grow from $57.09 billion in 2022 to $69.77 billion in 2023 at a compound annual growth rate (CAGR) of 22.2%. The Russia-Ukraine 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global food & beverages e-commerce is expected to grow to $140.42 billion in 2027 at a CAGR of 19.1%.

An increase in smartphone users has given a boost to food and beverage (F&B) e-commerce sales worldwide. Smartphone users are the primary online shoppers for the F&B industry, and with the increasing number of them, there is a potential increase in online shopping for food and beverages.

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The food and beverages ecommerce market is segmented:

1) By Type: Grocery Delivery And Pickup, DTC Products, Meal Kits and Fresh Ready-To-Eat Meals, Restaurant Meal Delivery

2) By Delivery Channel: Store Pick-Up, Home Delivery

3) By End Users: Households, Businesses

With an increase in technology and changing human interaction with any product or service, online shopping and web surfing for Food & Beverage (F&B) products or services is diurnal. This is positively affecting F&B e-commerce. In 2022, there were 2.14 billion online shoppers which accounted for 27% of total world population. 80% of consumers prefer detailed information about purchases and consider this crucial to making buying decisions. Hence, this trend will boost and increase the scope for online food and beverage businesses.

The food and beverages ecommerce market report table of contents includes: