IMARC Group, a leading market research company, has recently releases report titled “Online Grocery Market Report by Product Type (Vegetables and Fruits, Dairy Products, Staples and Cooking Essentials, Snacks, Meat and Seafood, and Others), Business Model (Pure Marketplace, Hybrid Marketplace, and Others), Platform (Web-Based, App-Based), Purchase Type (One-Time, Subscription), and Region 2024-2032” The study provides a detailed analysis of the industry, including the global online grocery market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the online grocery market?
The global online grocery market size reached US$ 549.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5,533.9 Billion by 2032, exhibiting a growth rate (CAGR) of 29.26% during 2024-2032.
What is online grocery?
Online grocery shopping has revolutionized the way consumers purchase their everyday essentials and food items. It involves the process of selecting and ordering groceries through digital platforms, often mobile apps or websites, and having them delivered to the customer's doorstep. This convenient and time-saving method has gained immense popularity in recent years, driven by the increasing penetration of the internet and smartphones. With busy lifestyles and the need for social distancing, consumers are turning to online grocery shopping as a practical solution. Online grocery stores offer a wide range of products, from fresh produce to packaged goods, household items, and even specialty foods, providing customers with a comprehensive shopping experience from the comfort of their homes. The convenience, accessibility, and variety offered by online grocery shopping make it a key player in the modern retail landscape.
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What are the growth prospects and trends in the online grocery industry?
The global online grocery market is experiencing significant growth driven by the convenience factor. Busy schedules, long working hours, and the desire to avoid crowded stores have led people to embrace online grocery shopping. Additionally, the COVID-19 pandemic has accelerated the adoption of online grocery services, as consumers prioritize safety and social distancing. In addition, technological advancements are enhancing the online grocery shopping experience. Improved user interfaces, personalized recommendations, and efficient delivery tracking systems are making it easier and more appealing for customers to shop online. Artificial intelligence and data analytics are being utilized to offer tailored product suggestions and optimize supply chain management. Besides, sustainability is a growing concern in the global online grocery market.
Consumers are increasingly looking for eco-friendly and sustainable options when shopping for groceries. This trend is pushing online grocery retailers to focus on reducing packaging waste, offering organic and locally sourced products, and implementing eco-friendly delivery options, such as electric vehicles. Moreover, partnerships and collaborations between online grocery platforms and traditional retailers are on the rise. This convergence of online and offline retail channels allows customers to choose from a broader range of products and access established brands while still enjoying the convenience of online shopping.
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
- Snacks
- Meat and Seafood
- Others
Business Model Insights:
- Pure Marketplace
- Hybrid Marketplace
- Others
Platform Insights:
- Web-Based
- App-Based
Purchase Type Insights:
- One-Time
- Subscription
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.
- Carrefour
- Costco Wholesale Corporation
- Edeka Group
- HappyFresh
- Koninklijke Ahold Delhaize N.V.
- Reliance Retail Limited (Reliance Industries Limited)
- Safeway Inc. (Albertsons Companies, Inc.)
- Schwan’s Home Delivery
- ShopFoodEx
- Tesco PLC
- The Kroger Co.
- Walmart Inc.
- Wm Morrison Supermarkets Limited
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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