2021 China’s Fresh Food E-commerce Industry Report

Source:iresrarchAugust 22,20217:01 PM Overview Background of China's Fresh Food E-commerce Industry
Trillions of tons of fresh food products were consumed in China every year

With the largest population, China has a huge number of consumers. According to data from the National Bureau of Statistics, 3.1 trillion tons of main fresh food products were consumed in China in 2019. With improving consumption concepts and levels, peoples’ demand for fresh food products will keep growing.

 

Background of China's Fresh Food E-commerce Industry
Fresh food e-commerce has huge room for growth
People have rigid demand for fresh food, which is one of the basic consumer goods in china. China’s fresh food retail market has been growing steadily in recent years, exceeding 5 trillion yuan in 2020. With rising disposable income and consumption expenditure, iResearch believes that the fresh food retail market will maintain its growth momentum and its scale will hit 6.8 trillion yuan in 2025.

Background of China's Fresh Food E-commerce Industry
Offline channel is the main retail channel of fresh food, but online retail is accounting for an increasing proportion. 
Offline retail channels such as supermarkets and vegetable markets are still the main retail channel of fresh food.  The penetration rate of online fresh food retail is low but it is surging. The pandemic in 2020 further accelerated the growing of online fresh food consumption, which accounted for 14.6%. The penetration of online purchase of fresh food will keep increasing since consumers are forming the habit of buying fresh food online and fresh food retail market is attaching increasing importance to online retail.

Market Size of Fresh Food E-commerce in China
The development of fresh food e-commerce accelerated because of the pandemic and its scale exceeded 400 billion yuan in 2020 
Influenced by the Covid-19 pandemic, China’s fresh food e-commerce market developed quickly and reached 458.49 trillion yuan in 2020, increasing by 64% compared to 2019. With the development of fresh food e-commerce and the maturing models, the formation of users’ online purchase habits and the increasing fresh food e-commerce users, and maturing technologies, iResearch thinks that the fresh food e-commerce industry will maintain fast growth and its scale will exceed 1 trillion yuan in 2023.
 

 

Contents

Due to rigid demand, China’s fresh food retail market has been growing steadily in recent years and exceeded 5 trillion yuan in 2020. Fresh food is among the basic consumer goods in China. With the rising of disposable income per capita and consumption, iResearch believes that the future fresh food retail market will keep growing and hit 6.8 trillion yuan in 2025. Offline retail channels like supermarkets and vegetable markets are still the main fresh food retail channels. Although the penetration rate of online fresh food purchases is low now, but it is growing quickly.

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