IMARC Group, a leading market research company, has recently releases report titled “Online Grocery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global online grocery market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the online grocery market?
The global online grocery market size reached US$ 420 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,160.3 Billion by 2028, exhibiting a growth rate (CAGR) of 30.8% during 2023-2028.
What is online grocery?
Online grocery shopping is a convenient method of purchasing food and household necessities due to its convenience. Consumers can easily place orders through mobile applications or commerce-based websites and schedule home deliveries from local stores or third-party e-retailers. They can browse various products, place orders, and choose from multiple payment methods, including debit or credit cards, cash-on-delivery, and net banking, with flexible return and exchange policies. Since it allows 24/7 access and enhances the ease and convenience of shopping for a broad range of grocery products, online grocery shopping is gaining immense traction across the globe.
What are the growth prospects and trends in the online grocery industry?
The global online grocery market is primarily driven by the rising adoption of online grocery shopping due to busy lifestyles and hectic working schedules. Moreover, the shifting consumer preferences toward hassle-free and smooth shopping experiences are positively influencing the market growth. Additionally, the escalating demand for convenient, time-saving, and cost-effective grocery solutions is another major growth-inducing factor. Besides this, the integration of voice ordering features with AI, big data, and IoT technologies in online grocery apps or websites has catalyzed market growth. Furthermore, the increasing number of online grocery suppliers offering slotted or express delivery options is contributing to the market growth. Other factors, including significant expansion in the e-commerce industry, rising penetration of high-speed internet connectivity, and rapid digitization, are also anticipated to drive the market further.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Vegetables and Fruits
- Dairy Products
- Staples and Cooking Essentials
- Meat and Seafood
Business Model Insights:
- Pure Marketplace
- Hybrid Marketplace
Purchase Type Insights:
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Amazon.com, Inc.
- Costco Wholesale Corporation
- Edeka Group
- Koninklijke Ahold Delhaize N.V.
- Reliance Retail Limited (Reliance Industries Limited)
- Safeway Inc. (Albertsons Companies, Inc.)
- Schwan’s Home Delivery
- Tesco PLC
- The Kroger Co.
- Walmart Inc.
- Wm Morrison Supermarkets Limited
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