Study reveals 5 e-commerce growth trends through 2023
China dominates regional e-grocery activity in part because of the country's large urban population and rapidly expanding middle class.
Global food e-commerce sales are forecast to nearly triple through 2023, rising to $321 billion and accounting for nearly 5% of total e-commerce revenues, according to Packaged Facts, Rockville, Md.
The report, “Global Food E-Commerce,” projects the Asia/Pacific region will account for the majority of absolute growth, primarily due to the rapidly expanding Chinese market. China dominates regional e-grocery activity in part because of the country's large urban population and rapidly expanding middle class. In addition, much of China's very large population has access to high-tech devices and the ability to shop online.