The Global Online Grocery market was valued at USD 434.56 billion in 2021 and is expected to reach USD 1310.34 billion by the year 2028, at a CAGR of 24.70%.
Grocery is food and household supplies sold at a store. Grocery involves daily needed things like milk, vegetables, fruits, etc. Online grocery is shopping all the grocery items online for a home. Home delivery of this purchased product allows the pleasure of shopping from the dining room table, couch, or office, without going to any crowded aisles and lengthy cashier lines. That gives more time to do the other important things. Online grocery provides more variety, better prices of the product, more control over the purchase, easy and affordable to use propelling the growth of the market. There online application or platform, through which people can select and pay for the things they want to purchase. These platforms are getting high growth in the market. For instance Bigbasket the online grocery store had the highest market share among online groceries in India at over 35 %, according to Statista the market value of online groceries was about 100.7 billion Indian rupees that same year.
Major Key Players for Online Grocery Market:
- com Inc.
- Grofers India Pvt Ltd.
- AEON Co
- Amazon India Pvt Ltd.
- Koninklijke Ahold Delhaize N.V.
- Fresh Direct LLC,
- Schwan Food Company
- My Brands Inc.
- Wal-Mart Stores
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Market Dynamics and Factors:
The online grocery market rises due to increasing standardization of the people and the change in the living style with the increasing disposable income are the main factors to support the growth online grocery market. Additionally, in the younger age group, the high need for convenience and comfort is help in raising the growth of the market and is expected to grow continuously in the forecast period. On the online grocery platform, the prices are daily updated which provides price benefits to the customer and gives home delivery for the convenience of the customer. According to Statista in the United States, around 44% of respondents reported placing an online grocery order once a week in July 2020. This increasing adoption of online grocery shopping is boosting the growth of the market. However, unawareness in people hampers the market.
Online Grocery Market Report Highlight:
- By type, the staples & cooking essentials segment is expected to have the maximum market share in the online grocery market during the projected period. Rise in the online buying of staples such as food grains, flours, and cooking essentials online which propels the growth of the market.
- By delivery type, the home delivery segment is predicted to expand the most in the online grocery market during the forecast year. Home delivery service is a convenient method for most of the population that propels the growth of the online grocery market.
- By region, North America is expected to dominate the online grocery market, during the projection period. The increasing e-commerce sales in this region boost the growth of the online grocery market in North America.
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Key Industry Development:
- In August 2021, Grofers launched its delivery services in 10 cities with the promise to deliver groceries within 10-minute. After Zomato, Grofers become a unicorn. It offers 7000 items of daily essentials to the customer in Delhi, Gurugram, Mumbai, Bangalore, Hyderabad, Kolkata, Jaipur, Ghaziabad, Noida, and Lucknow.
- In November 2021, Amazon merges its grocery stores into a single online store called Amazon Fresh. This new Amazon Fresh is available in the 300 cities in the Indian country.
Online Grocery Market Segmentation:
- Staples & Cooking Essentials
- Breakfast & Dairy
- Meat & Seafood
By Delivery Type
- Home Delivery
- Click & Collect
For this report, Introspective Market Research has segmented the Online Grocery Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Online Grocery Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.
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