According to the latest report by IMARC Group, titled “Online Grocery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global online grocery market is expected to exhibit a CAGR of 22.1% during 2022-2027. Online grocery refers to the process of buying fresh and packaged food, along with other necessary household products, via e-commerce platforms. These platforms provide flexible payment options and enable the customers to track the delivery process, select different delivery slots, and access a range of products. They also save time by eliminating the need to make multiple trips to the grocery store. As a result, online grocery stores are gaining immense traction, especially among the urbanized population.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Online Grocery Market Trends:
The thriving e-commerce industry, in confluence with the rising awareness among consumers about the associated benefits of online grocery shopping like cashback and discount offers, represents one of the significant factors propelling the growth of the market. Additionally, the leading supermarket chains are expanding their business as well as overall consumer base through online distribution channels. Apart from this, the increasing influence of social media, coupled with the rising number of celebrity endorsements promoting online grocery platforms, is also supporting the market growth. Furthermore, the increasing adoption of advanced technologies, such as predictive analytics, big data, artificial intelligence (AI), and the Internet of Things (IoT), to offer a personalized shopping experience to customers is creating a favorable market outlook. Moreover, the coronavirus disease (COVID-19) outbreak and subsequent lockdown restrictions have resulted in increasing online sales of groceries around the world.
- Based on the product type, the market has been categorized into vegetables and fruits, dairy products, staples and cooking essentials, snacks, meat and seafood, and other items. At present, staples and cooking essentials account for the majority of the total market share.
- On the basis of the business model, the market has been divided into pure, hybrid, and other marketplaces.
- Based on the platform, the market has been bifurcated into web- and app-based platforms. Presently, app-based online grocery platforms dominate the market.
- On the basis of the purchase type, the market has been segmented into one-time and subscription purchases.
- Region-wise, the market has been classified into North America (the United States and Canada); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa (Turkey, Saudi Arabia, and others). Amongst these, North America enjoys the leading market position.
- The competitive landscape of the market has been examined, with some of the key players being 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, and Wm Morrison Supermarkets Limited.
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