According to the latest research report by IMARC Group, titled “Online Grocery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” 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.
Industry Definition and Application:
Online grocery shopping is a convenient way of ordering and delivering food and household necessities through mobile applications and commerce-based websites. It aids consumers in placing orders online and easily scheduling home deliveries directly from local stores or third-party e-retailing organizations. It allows consumers to browse through a variety of products, place orders, and pay through several payment methods, such as debit or credit cards, cash-on-delivery, and net banking, and flexible return/exchange policies. As a result, it offers anytime access and enhanced ease and convenience of shopping a wide range of grocery products to the users.
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Online grocery market Market Trends:
The rising penetration of high-speed internet connectivity majorly drives the global market. This can be supported by the escalating number of smartphone users due to rapid digitization across the globe. Coupled with this, consumers are increasingly seeking convenience and the ability to shop for groceries online from the comfort of their own homes, which is acting as another growth-inducing factor. Since online grocery is cost-effective when compared to traditional grocery shopping, this is catalyzing its demand on the global level. With the sudden outbreak of coronavirus disease (COVID-19), followed by the mandatory lockdown restrictions, various e-commerce websites introduced contactless delivery services to ensure the safe delivery of grocery products as adequate social distancing measures, thus propelling the overall online grocery market.
Apart from this, online grocery stores are leveraging numerous social media platforms and utilizing targeted ads to increase their reach and engage with potential customers, which is creating a positive market outlook. Moreover, several key players are integrating artificial intelligence (AI) with drones and robots to offer door-step deliveries, which is anticipated to contribute to the growth of the market in the upcoming years.
Global Online Grocery Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
Top Online Grocery Companies Worldwide:
- Amazon.com Services LLC
- Costco Wholesale Corporation
- EDEKA ZENTRALE Stiftung & Co. KG
- Fresh Direct, LLC
- HappyFresh Group
- Koninklijke Ahold Delhaize N.V.
- Reliance Industries Limited (RIL)
- Albertsons Companies, Inc.
- Cygnus Home Service, LLC
- Shopfoodex Co Inc.
- Tesco PLC
- The Kroger Co.
- Walmart Inc.
- Wm Morrison Supermarkets Limited
The report has segmented the market on the basis on region, product type, business model, platform and purchase type.
Breakup by Product Type:
- Vegetables and Fruits
- Dairy Products
- Staples and Cooking Essentials
- Snacks
- Meat and Seafood
- Others
Breakup by Business Model:
- Pure Marketplace
- Hybrid Marketplace
- Others
Breakup by Platform:
- Web-Based
- App-Based
Breakup by Purchase Type:
- One-Time
- Subscription
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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