The online grocery global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Online Grocery Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The online grocery market size has grown exponentially in recent years. It will grow from $445.99 billion in 2023 to $542.72 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to continued growth in e-commerce, expansion of ultrafast delivery services, focus on sustainability, increased investment in last-mile logistics, enhanced payment solutions.
The online grocery market size is expected to see exponential growth in the next few years. It will grow to $1180.95 billion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The growth in the forecast period can be attributed to internet penetration and access, advancements in e-commerce, improved logistics and delivery systems, mobile technology proliferation, covid-19 pandemic-induced surge. Major trends in the forecast period include technology integration, focus on sustainability, enhanced customer experience, partnerships with brick-and-mortar retailers, contactless and cashless transactions.
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Scope Of Online Grocery Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Online Grocery Market Overview
Market Drivers –
A shifting preference towards digital shopping for convenience and safety is expected to propel the growth of the online grocery market in the coming years. Digital shopping, often known as shopping online or e-commerce, is the process of buying products or services via an internet connection using a mobile app or a website. Digital shopping in grocery stores is convenient and time-saving, allowing customers to browse, choose, and purchase goods from the convenience of their own homes, with the bonus of doorstep delivery. For instance, in February 2023, according to Eurostat, a Europe-based intergovernmental organization, in the survey, 68% of individuals aged 16 to 74 reported buying or ordering products or services online in the past 12 months, a 1% rise from 2021. Among internet users in the last 3 months, 51% were e-shoppers in 2022. Therefore, shifting preferences towards digital shopping for convenience and safety is driving the online grocery market.
Market Trends –
Major companies operating in the online grocery markets are adopting subscription models and membership programs, such as the B2B membership platform, to better meet the needs of their existing consumers. A B2B membership platform in online grocery serves as a digital hub connecting businesses within the supply chain, facilitating transactions and collaboration among suppliers, distributors, and retailers. For instance, in October 2023, Bundl Technologies Private Limited (Swiggy), an India-based company that operates an online food ordering platform, launched Swiggy One Lite. Swiggy One Lite is a new and more economical variant of Swiggy One, the membership club, that provides advantages for meals, groceries, and pick-up and delivery services. Swiggy One Lite provides several perks, including free delivery, special deals, and discounts, for a starting price of Rs 99 for three months. One Lite is available as a B2B membership, packaged with offerings from major brand partners in the telecom and banking sectors.
The online grocery market covered in this report is segmented –
1) By Product: Fresh Produce, Staple And Cooking Essentials, Ready-To-Eat Food, Snacks And Beverages, Bakery And Confectionery, Dairy Products, Breakfast And Cereal
2) By Food Platform: Mobile Application, Website
3) By Delivery Type: Instant Delivery, Schedule Delivery
4) By End User: Individual, Distributors, Other End Users
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Regional Insights –
Asia-Pacific was the largest region in the online grocery market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the online grocery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the online grocery market report are Amazon.com Inc., The Kroger Company, Alibaba Group, Target Corporation, Koninklijke Ahold Delhaize N.V., Edeka group, Albertsons Companies, Inc., Getir, Uber Eats, Delivery Hero, Doordash, ALDI Inc., Flipkart Supermart, Just Eat, Jio Mart, Auchan SA, ASDA Groceries, Instacart, Safeway Inc., FreshDirect LLC.
Table of Contents
1. Executive Summary
2. Online Grocery Market Report Structure
3. Online Grocery Market Trends And Strategies
4. Online Grocery Market – Macro Economic Scenario
5. Online Grocery Market Size And Growth
…..
27. Online Grocery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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