Online Grocery Market Analysis
The Global Online Grocery Market was worth US$ 492.22 billion in 2023 and is anticipated to surpass US$ 2,984.27 billion by 2032. According to Renub Research, it is expected to expand at a CAGR of 22.17% from 2024 to 2032.
As a digital platform, the online grocery industry offers numerous benefits to consumers. It provides convenience, a wide range of products, and time-saving advantages. This industry has been experiencing various trends to enhance the online grocery delivery experience. For example, in March 2023, Amazon.com partnered with Rite Aid to offer 2-hour delivery to Prime members for cosmetics and grocery essentials.
Several key factors drive the expansion of the online grocery sector. Foremost among these is the increasing consumer demand for convenience. Online grocery shopping allows consumers to browse, compare, and purchase products from the comfort of their homes, saving time and reducing the effort associated with traditional grocery shopping. This convenience is further enhanced by various delivery options, including same-day and scheduled deliveries, which cater to the busy lifestyles of modern consumers.
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Technological advancements have also played a crucial role in the growth of the online grocery market. E-commerce platforms have invested heavily in user-friendly interfaces, personalized shopping experiences, and efficient supply chain logistics. Innovations such as artificial intelligence (AI) and machine learning (ML) enable customized recommendations and predictive inventory management, ensuring that consumers find what they need quickly and that products are available when needed.
The online grocery market has expanded to include meal kits and ready-to-eat meals in addition to traditional grocery items. Companies like Blue Apron, HelloFresh, and Amazon Fresh offer curated meal kits that cater to the growing demand for home-cooked meals with minimal preparation effort. These services appeal to health-conscious consumers looking for fresh ingredients and easy-to-follow recipes.
Sustainability and eco-friendly practices are increasingly important in the online grocery industry. Companies are adopting sustainable packaging solutions, reducing food waste through better inventory management, and sourcing products from local and organic suppliers. This aligns with the values of environmentally conscious consumers and enhances brand loyalty.
Despite the growth, the online grocery industry faces challenges, such as maintaining the freshness and quality of perishable items during delivery, managing logistics efficiently, and addressing cybersecurity concerns. However, continuous innovation and evolving consumer preferences suggest that the online grocery market will continue to expand and adapt, becoming an integral part of the modern retail landscape.
India Online Grocery Market
India is projected to have the second-largest online consumer base by 2030, with an estimated 500–600 million online shoppers. The country's online grocery market is booming due to the expansion of the e-commerce sector, increasing smartphone internet penetration, and the convenience of online shopping. The growth in income levels and urbanization has led to the expansion of online food businesses into Tier-II cities. The challenges of finding substantial space in towns and evolving work environments have fueled the demand for online grocery stores. It is anticipated that by 2025, nearly 87% of Indian households will have internet access, with mobile internet usage expected to grow by 21% from 2019 to 2025. In 2022, BigBasket received a $300 million investment from Alibaba, valuing the company at around $950 million.
Global Online Grocery Company Analysis
The online grocery market has vital players such as Tesco Plc., Walmart Inc., Auchan SA, Kroger Co., Carrefour, Costco Wholesale Corporation, Koninklijke Ahold Delhaize N.V., and Target Corporation.
Global Online Grocery Company News
In January 2024, Stor.Ai and Mercatus Technologies merged to help independent and regional stores compete with larger grocery stores and provide e-trade services to clients.
Ahold Delhaize USA will sell FreshDirect to Getir, a leader in lightning-fast supermarket delivery, in November 2023. The decision was made to focus on investments across all channels.
As of October 2023, Kroger will take EBT payments for digital pickup and shipping orders.
Woolworths New Zealand will launch the MILKRUN app in July 2023 and provide over 10,000 supermarket goods. The retailer, which moved from Countdown to Woolworths New Zealand, is dedicated to offering fantastic supermarket ratings.
Sainsbury's and Eat Takeaway teamed to provide quicker grocery delivery in January 2023.
Products – Market breakup in 6 viewpoints:
- Ready-to-eat Breakfast & Dairy
- Staples & Cooking Essentials
- Snacks & Beverages
- Meat & Seafood
- Fresh Produce
- Others
Purchaser Type – Market breakup in 2 viewpoints:
- Ready-to-eat Subscription Purchase
- One Time Purchase
Delivery Type – Market breakup in 2 viewpoints:
- Ready-to-eat Click & Collect
- Home Delivery
Payment Mode – Market breakup in 2 viewpoints:
- Online
- Cash on Delivery
Country – Market breakup of 25 Countries:
- North America
1.1 United States
1.2 Canada
- Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
- Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
- Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
- Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
- Tesco Plc.
- Walmart Inc.
- Auchan SA
- The Kroger Co.
- Carrefour
- Costco Wholesale Corporation
- Koninklijke Ahold Delhaize N.V.
- Target Corporation
Related Reports:
United States Online Grocery Market
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