Online Grocery Market to Witness Huge Growth at 25.3% CAGR During the Forecast Period 2022-2030

Posted on 2023-03-08 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, Mar 09, 2023 — /EPR Network/ —

Online Grocery Industry Overview

The global online grocery market size was valued at USD 285.70 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.3% from 2022 to 2030. The changing shopping preferences of consumers in the wake of the outbreak of the pandemic and the unabated growth of the e-commerce industry are expected to drive the growth of the market over the forecast period. The myriad of options for online payments and the assurances for contactless delivery of the ordered grocery being offered by online grocers is expected to contribute to the growth of the market.

Advances in technology, the continued urbanization, and the paradigm shift in consumers’ shopping habits are driving the preference for grocery shopping through online channels. Innovative business models, such as slotted or express delivery and on-demand or subscription delivery models, being introduced by grocers are also encouraging consumers to opt for online grocery shopping. Attractive discounts being offered by service portals and the rising levels of disposable income are also playing a vital role in driving the growth of the market.

Gather more insights about the market drivers, restraints and growth of the Global Online Grocery Market

Various delivery options, such as immediate or same-day delivery and click & collect, remain niche for the growth of the market. For instance, in the U.S., grocers are offering contactless grocery delivery and fast-tracking the delivery to next-day delivery or same-day delivery. This is encouraging small-scale grocers to join forces with third-party service providers, such as Instacart, and make a foray into the market. Food-delivery platforms, such as Uber Eats and DoorDash, are also making a market foray finding the market highly lucrative.

The outbreak of the pandemic is particularly driving the preference for online grocery shopping. As such, easy availability of time slots, lower service fees, and the convenience associated with picking up the grocery while on the way are encouraging individuals to opt for click & collect services, book the grocery online, and pick up the grocery they ordered at their convenience while avoiding crowds. As a result, grocers are rapidly building click & collect capabilities as part of their efforts to ensure a convenient and robust customer experience throughout their network of groceries.

The online channel is offering more options for consumers as compared to the conventional channels. As such, e-commerce portals are allowing consumers to compare various products with each other and make an informed buying decision. This is also opening opportunities for grocers to build brand awareness while focusing on quality. Features, such as saved preferences and order history for reordering, are also adding to the convenience of consumers and encouraging them to opt for online grocery shopping, thereby driving the growth of the market.

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Online Grocery Market Segmentation

Grand View Research has segmented the global online grocery market based on product type and region:

Online Grocery Product Type Outlook (Revenue, USD Billion, 2018 – 2030)

Fresh Produce
Breakfast & Dairy
Snacks & Beverages
Meat & Seafood
Staples & Cooking Essentials
Others

Online Grocery Regional Outlook (Revenue, USD Billion, 2018 – 2030)

North America
Europe
Asia Pacific
Latin America
MEA

Key Companies profiled:

Some prominent players in the global Online Grocery market include

AEON Co., Ltd.
Alibaba
Amazon, Inc.
Blinkit (formerly Grofers)
Instacart
JD.com, Inc.
Natures Basket Limited.
Rakuten
Reliance Retail (Reliance Fresh)
Supermarket Grocery Supplies Pvt. Ltd. (BigBasket)
Target Brands, Inc.
Tesco.com
The Kroger Co.
Walmart

Order a free sample PDF of the Online Grocery Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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