Global Online Grocery Market to Grow at 30.8% During 2023-2028, Impelled by Rising Preference for Convenient Shopping Experience

February 17, 2023 | Retail

According to the latest report by IMARC Group, titled "Online Grocery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global online grocery market is expected to grow at a CAGR of 30.8% during 2023-2028. 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.

Global Online Grocery 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.

Market Summary:

On the basis of the product type, the market has been segmented into vegetables and fruits, dairy products, staples and cooking essentials, snacks, meat and seafood, and others. Among these, staples and cooking essentials exhibit a clear dominance in the market.
Based on the business model, the market has been segregated into the pure, hybrid and other marketplaces. Currently, the pure marketplace accounts for the largest market share.
On the basis of the platform, the market has been categorized into web- and app-based.
Based on the purchase type, the market has been bifurcated into one-time and subscription.
On the basis of the region, the market has been divided into North America (the United States and Canada), Europe (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 the Middle East and Africa (Turkey, Saudi Arabia and others). North America presently holds the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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..

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product Type, Business Model, Platform, Purchase Type, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Turkey, Saudi Arabia
Companies Covered	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. and Wm Morrison Supermarkets Limited
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Global Online Grocery Market to Grow at 30.8% During 2023-2028, Impelled by Rising Preference for Convenient Shopping Experience

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