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Tasty Trends: Online grocery in Asia to grow by 198% in 2023

Online grocery in Asia is developing at a rapid pace, with the market set to grow from its current value of US$99 billion to $295 billion by 2023, according to latest findings of international researcher IGD Asia. “The penetration, size and growth of online grocery varies greatly by country,” revealed Shirley Zhu, programme director at IGD Asia. “South Korea, China and Japan will be the most established online grocery markets in terms of both market share and scale, while Singapore and Taiwan will also have well-developed online grocery channels by 2023, benefiting from existing infrastructure and retailer investment.”  Zhu added that while markets in South-east Asia will see some of the fastest growth, the market share of online grocery in this region will remain small. However, markets such as India and Indonesia will also become increasingly important due to their scale.
Growing online markets “South Korea will remain Asia’s most advanced online grocery market, with its share growing t…

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