Dublin, Jan. 14, 2025 (GLOBE NEWSWIRE) — The “Online Grocery Market Report and Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
Global online grocery market size reached approximately USD 622.24 billion in 2023. Aided by the growing e-commerce adoption and digitalisation, increasing demand for convenience, and growing popularity of subscription services, the market is projected to grow at a CAGR of 15.50% between 2024 and 2032, reaching a value of around USD 2.36 trillion by 2032.
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global online grocery market.
The online grocery sector refers to the purchasing and selling of grocery items, including food, beverages, and other household essentials, through digital platforms. Consumers can access grocery products from a variety of online platforms, including dedicated grocery websites, e-commerce giants, and mobile apps, enabling them to shop for their daily needs from the convenience of their homes.
The rapid growth of e-commerce, particularly during and after the COVID-19 pandemic, has significantly transformed the grocery shopping landscape. More consumers are opting for online platforms due to their convenience, wide selection of products, competitive pricing, and the availability of same-day or next-day delivery. In addition, advancements in payment technologies, increased smartphone penetration, and a growing preference for contactless transactions have further bolstered the online grocery market growth.
The increasing urbanisation, coupled with the busy lifestyles of consumers, has also driven the demand for quick and convenient grocery shopping experiences. Consumers are increasingly seeking options that save time and effort, which has propelled the growth of the online grocery segment. Additionally, growing awareness of hygiene and safety, especially after the pandemic, has shifted consumer preferences towards contactless shopping methods, further boosting the market.
One of the primary drivers of the market is the growing adoption of e-commerce and digitalisation. The widespread use of smartphones and the internet has made online shopping more accessible to a broader audience. E-commerce platforms have become essential tools for retailers, allowing them to reach customers directly, expand their customer base, and offer personalised shopping experiences.
With advancements in logistics, supply chain management, and payment gateways, online grocery platforms are offering more seamless, efficient, and secure shopping experiences. Retailers are also leveraging digital tools like artificial intelligence (AI) and machine learning to offer product recommendations, manage inventory more effectively, and provide personalised offers to customers. These factors are expected to contribute to the continued online grocery market expansion.
The increasing demand for convenience is a significant driver of the market. Modern consumers, particularly those living in urban areas, lead fast-paced lives and have limited time for traditional grocery shopping. Online grocery platforms provide a convenient solution by offering home delivery services, flexible payment options, and a wide variety of products, eliminating the need for customers to visit physical stores.
The ability to shop anytime and from anywhere, along with features like subscription services for essential items, has made online grocery shopping an attractive option for consumers. Moreover, online grocery platforms often offer tools like grocery lists, repeat purchase options, and voice search capabilities, making the shopping process even more streamlined and efficient.
As per the online grocery market analysis, the COVID-19 pandemic had a profound impact on consumer behaviour, accelerating the shift toward online grocery shopping. During the pandemic, lockdowns, social distancing measures, and concerns about physical store safety prompted a surge in demand for online grocery services. Many consumers who had never shopped for groceries online before turned to digital platforms, and many have continued to do so post-pandemic due to the convenience and ease of use.
This shift in consumer behaviour has encouraged both traditional retailers and e-commerce giants to invest heavily in their online grocery offerings. Retailers have expanded their delivery capabilities, partnered with third-party delivery services, and improved their digital infrastructure to meet growing demand. As consumers become more accustomed to online shopping, the online grocery market value is expected to increase in the coming years.
The rise of omnichannel retailing, which integrates online and offline shopping experiences, has also contributed to the growth of the market. Many brick-and-mortar grocery stores are adopting omnichannel strategies by offering click-and-collect services (buy online, pick up in-store), as well as home delivery options. This approach allows retailers to cater to a broader range of customers by providing flexibility and convenience, consequently driving up the online grocery market share.
Omnichannel retailing allows customers to choose how they want to shop whether it’s visiting the store, ordering online for home delivery, or picking up groceries curbside. This trend has been particularly popular among consumers who appreciate the convenience of online shopping but still want to inspect certain fresh products, such as fruits and vegetables, in person. As more retailers adopt omnichannel strategies, the online grocery market is expected to expand further.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 188 |
| Forecast Period | 2024 – 2032 |
| Estimated Market Value (USD) in 2024 | $745.29 Billion |
| Forecasted Market Value (USD) by 2032 | $2360 Billion |
| Compound Annual Growth Rate | 15.5% |
| Regions Covered | Global |
Online Grocery Competitive Landscape
- Amazon.com Inc.
- Walmart Inc.
- The Kroger Co.
- Costco Wholesale Corporation
- Target Corporation
- Tesco Plc
- JD.com, Inc.
- Fresh Direct, LLC
- Albertsons Companies, Inc.
- Maplebear Inc. (Instacart)
Market Dynamics
- SWOT Analysis
- Porter’s Five Forces Analysis
- Key Indicators for Demand
- Key Indicators for Price
Market Breakup by Product Type
- Fresh Produce
- Breakfast and Dairy
- Snacks and Beverages
- Meat and Seafood
- Staples and Cooking Essentials
- Others
Market Breakup by Platform
Market Breakup by Purchase Type
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/kpqsyd
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
