The grocery retail market in the Philippines is forecast to grow at a CAGR of 9.3 percent between 2016 and 2021, according to a report by IGD, a grocery research organisation.
The company has launched Prime Now in Singapore, where users can enjoy two-hour delivery on selected products.
There is a wide market for the grocery industry to utilise technology for app creation to engage consumers, according to IGD, research and training charity.
Vietnam is forecast to be the fastest growing convenience market in Asia by 2021, followed by the Philippines and Indonesia, according to grocery research agency, IGD.
Singapore’s online grocery market is set to triple in growth over the next three years, from S$130 million (US$91 million) to S$0.5 billion (US$0.35 billion) by 2020, according to brand-new forecasts unveiled by international grocery research organisation IGD.
According to new forecasts from research organisation IGD, the region’s grocery market will grow at an annual compound growth rate (CAGR) of 6.3 percent to increase by US$1.07 trillion by 2021.