South Korea Online Grocery Market

Market Overview:

South Korea online grocery market size is projected to exhibit a growth rate (CAGR) of 26.60% during ​2024-2032​​. The changing consumer preferences, the inflating disposable incomes of the consumers, considerable growth in smartphone production, the advent of various user-friendly mobile apps with same-day delivery and subscription models, and the changing consumer attitude towards e-commerce are some of the factors propelling the market.

An online grocery refers to a digital platform or website that enables consumers to browse, select, and purchase groceries and household essentials over the internet. This innovative retail model transforms the traditional grocery shopping experience by allowing customers to order a wide range of products, including fresh produce, pantry staples, and household items, from the comfort of their homes. Typically, users access these platforms through dedicated websites or mobile applications, where they can create accounts, build virtual shopping carts, and proceed to checkout. Online groceries often feature user-friendly interfaces, intuitive search functions, and personalized recommendations, enhancing the overall shopping experience. The convenience of online grocery shopping lies in its ability to offer flexible delivery options, including doorstep delivery and, in some cases, express or same-day delivery services. Additionally, many online grocery platforms provide subscription models, allowing customers to schedule regular deliveries of essential items. Beyond traditional grocery items, these platforms often provide fresh produce, organic choices, and even meal kit options. Overall, online groceries have emerged as a convenient and time-saving solution, reshaping the landscape of traditional brick-and-mortar grocery retail.

South Korea Online Grocery Market Trends:

The market in South Korea is majorly driven by the increasing demand for convenience in shopping experiences. Modern consumers with busier lifestyles seek streamlined solutions, and online grocery platforms provide a convenient alternative by allowing users to browse, select, and order a diverse array of products from the comfort of their homes. The widespread adoption of smartphones and user-friendly mobile applications plays a pivotal role, providing an accessible and intuitive interface that enhances the overall shopping experience. Furthermore, rapid technological advancements, including personalized recommendations and seamless payment options, contribute to the allure of these platforms, fostering a positive user experience. Besides, the seismic impact of the COVID-19 pandemic leading to heightened concerns about in-person shopping, social distancing measures, and lockdowns prompted a growing demand for contactless alternatives. This shift in consumer behavior is impacting the market positively, with many first-time online grocery shoppers likely to continue utilizing these platforms. Moreover, online grocery platforms are expanding their product offerings and services to cater to diverse consumer preferences. The integration of additional services, such as same-day delivery and subscription models, enhances the attractiveness of online grocery shopping, appealing to a broader customer base. Additionally, evolving consumer attitudes toward e-commerce are strengthening the market growth. With the growing consumer confidence in e-commerce, more individuals are choosing the convenience and flexibility offered by virtual grocery shopping, thereby fueling market growth.

South Korea Online Grocery Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​​. Our report has categorized the market based on product type, business model, platform, and purchase type.

Product Type Insights:

• Vegetables and Fruits
• Dairy Products
• Staples and Cooking Essentials
• Snacks
• Meat and Seafood
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes vegetables and fruits, dairy products, staples and cooking essentials, snacks, meat and seafood, and others.

Business Model Insights:

• Pure Marketplace
• Hybrid Marketplace
• Others
   

A detailed breakup and analysis of the market based on the business model have also been provided in the report. This includes pure marketplace, hybrid marketplace, and others.

Platform Insights:

• Web-Based
• App-Based
   

The report has provided a detailed breakup and analysis of the market based on the platform. This includes web-based and app-based.

Purchase Type Insights:

• One-Time
• Subscription
   

A detailed breakup and analysis of the market based on the purchase type have also been provided in the report. This includes one-time and subscription.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Online Grocery Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea online grocery market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the South Korea online grocery market?
• What is the breakup of the South Korea online grocery market on the basis of product type?
• What is the breakup of the South Korea online grocery market on the basis of business model?
• What is the breakup of the South Korea online grocery market on the basis of platform?
• What is the breakup of the South Korea online grocery market on the basis of purchase type?
• What are the various stages in the value chain of the South Korea online grocery market? 
• What are the key driving factors and challenges in the South Korea online grocery?
• What is the structure of the South Korea online grocery market and who are the key players?
• What is the degree of competition in the South Korea online grocery market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea online grocery market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea online grocery market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea online grocery industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.