Europe Online Grocery Market Destined to Reach US$ 261.5 Billion (CAGR of 15.9%) During 2023-2028: IMARC Group

According to the latest report by IMARC Group, titled "Europe Online Grocery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the Europe online grocery market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The Europe online grocery market size reached US$ 109.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 261.5 Billion by 2028, exhibiting a growth rate (CAGR) of 15.9% during 2023-2028.

Online grocery refers to the process of purchasing food and other household items through the Internet from the comfort of one's own home. It offers customers various products, allows them to add items to a virtual cart, and completes the transaction with a few clicks. It offers convenience and flexibility, allowing individuals to shop at any time, from anywhere, without the need to physically visit a store. It provides personalized recommendations based on a customer's preferences and previous purchases, enhancing the shopping experience. Additionally, it eliminates the hassle of waiting in long queues and navigating crowded aisles and saves valuable time and energy. Some of the common groceries available online include bakery, canned goods, dairy, frozen foods, meat, fresh fruits and vegetables, homecare cleaners, and personal care.

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Market Trends and Drivers:

The rising penetration of high-speed internet connectivity is driving the market in Europe. The rise of the e-commerce sector and the widespread use of smartphones is also contributing to the growth of the market. Apart from this, ongoing innovative advancements, such as the introduction of better voice search features and local languages over English, are providing a boost to the market. Along with this, the increasing penetration of advanced technologies, including artificial intelligence (AI), big data, and the Internet of Things (IoT), is strengthening the market.

Due to shifting lifestyle preferences and the hectic working schedule of working professionals, the demand for online grocery shopping has rapidly increased across the region. Other factors, including rapid digitization and inflating disposable income levels of the masses, are also influencing the market across Europe.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/europe-online-grocery-market

Key Market Segmentation:

Breakup by Product Type:

• Vegetables and Fruits
• Dairy Products
• Staples and Cooking Essentials
• Snacks
• Meat and Seafood
• Others

Breakup by Business Model:

• Pure Marketplace
• Hybrid Marketplace
• Others

Breakup by Platform:

• Web-Based
• App-Based

Breakup by Purchase Type:

• One-Time
• Subscription

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.

This release was published on openPR.