Global Online Grocery Market Size, Share, Growth Analysis, By Product type(Fresh Produce, Breakfast & Dairy), By Purchaser Type(One Time Purchase and Subscription Purchase), By Region(North America, Europe) - Industry Forecast 2024-2031

Name: Global Online Grocery Market Size, Share, Growth Analysis, By Product type(Fresh Produce, Breakfast & Dairy), By Purchaser Type(One Time Purchase and Subscription Purchase), By Region(North America, Europe) - Industry Forecast 2023-2030
Brand: SkyQuest Technology
Price: 5300 USD
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Report ID: SQMIG25Z2006 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 92 | Figures: 80

Global Online Grocery Market Insights

Global Online Grocery Market was valued at USD 0.35 trillion in 2022 and is anticipated to rise from USD 0.44 trillion in 2023 to reach a value of USD 2.66 trillion by 2031, at a CAGR of more than 25.30% during the forecast period (2024–2031).

Over the course of the projected period, the online grocery market growth is anticipated to be driven by two key factors. The shifting consumer buying habits as a result of the pandemic's onset and the unrelenting expansion of the e-commerce sector is a primary growth driver. Secondly, online grocers get access to a wide range of payment choices and guarantees for contactless delivery of the purchased groceries. This is anticipated to aid in the market's expansion during the forecast period. For this market to expand significantly in the forecast period, multiple specialty delivery alternatives such as click & collect and same-day delivery will always be available.

The demand for online food shopping is particularly being driven by the pandemic breakout. As a result, click & collect services is encouraging people to opt for online groceries, book the grocery online, and pick up the grocery they ordered at their convenience while avoiding crowds due to the ease of availability of time slots, lower service fees, and the convenience associated with picking up the grocery while on the way. In order to offer a convenient and complete consumer experience across their network of groceries, retailers are quickly developing click & collect options. Compared to traditional channels, the online channel offers consumers more options. E-commerce platforms enable customers to compare numerous products to one another and make educated purchases as a result. Grocers now have more options to promote their brands and prioritize quality. Features like saved preferences and order histories for reordering are also enhancing consumer convenience and influencing them to choose online grocery shopping, which is fueling the market’s expansion.

US Online Grocery Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Online Grocery Market Report Snapshots

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The global online grocery market is highly competitive in nature. To maintain a competitive edge, major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D activities. 'Amazon (US)', 'Walmart (US)', 'Alibaba Group (China)', 'JD.com (China)', 'Ocado (UK)', 'Instacart (US)', 'Tesco (UK)', 'Carrefour (France)', 'Kroger (US)', 'Mercadona (Spain)', 'Ahold Delhaize (Netherlands)', 'Peapod (US)', 'Coop (Switzerland)', 'Rewe (Germany)', 'E.Leclerc (France)', 'Sainsbury's (UK)', 'Target (US)', 'Woolworths (Australia)', 'Migros (Switzerland)', 'Shipt (US)', 'In April 2024, Welbee's launched its new online grocery shopping platform. ', 'In February 2024, Sainsbury's, the largest supermarket, introduced a "Best of British" page on its website, aiming to promote the purchase of British-grown and produced goods among shoppers. ', 'In February 2024, Bombay Gourmet Market revealed a strategic partnership with Yango Tech, a renowned global technology leader known for its innovative solutions. Their collaboration aims to transform modern retail in India and enhance the online shopping experience for their customers. ', 'In February 2024, Deliveroo UAE reported robust growth in its on-demand grocery segment, with a notable surge in grocery order volumes across the UAE. In 2023, the on-demand grocery platforms experienced a twofold increase, with orders rising by 62% in Dubai and 135% in Abu Dhabi, underscoring a dedication to meeting evolving customer preferences.'

With rising disposable income, the global market for online groceries is expanding. These days, consumers demand things that are as comfortable as possible. People are more eager to save time by shopping online and are more likely to spend money on goods and services that are simple to access. For many individuals, ordering groceries online has become a simple and practical choice. Additionally, they are more eager to pay for these items than usual.

The E-commerce industry is evolving quickly, and the emerging trend is to not only adapt it but to use it to economically satisfy the client demand. By implementing automation, merchants of the online grocery market can compete with the high consumer demand and provide a fair playing field.

North America dominated the market and accounted for a revenue share of around 16% in 2021. This is owing to the presence of several significant players with their base units in developed nations such as the U.S., and Canada. The e-commerce sales rate is projected to steadily increase in the United States. The U.S. Department of Commerce’s Retail Indicator Division estimates that the e-commerce sales sector will reach USD 871 billion in 2021, which is estimated to be 14.3% from the previous year. Any potential increase in online sales numbers, however, may be threatened by the resurgence of in-store or offline purchasing in response to the lifting of limitations.

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Global Online Grocery Market Size, Share, Growth Analysis, By Product type(Fresh Produce, Breakfast & Dairy), By Purchaser Type(One Time Purchase and Subscription Purchase), By Region(North America, Europe) - Industry Forecast 2024-2031

Global Online Grocery Market Insights

Global Online Grocery Market Report Snapshots

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