Online Grocery Market Size is Expected to Reach USD 5,533.9 Billion by 2032 | CAGR: 29.26%

IMARC Group's report titled "Online Grocery Market Report by Product Type (Vegetables and Fruits, Dairy Products, Staples and Cooking Essentials, Snacks, Meat and Seafood, and Others), Business Model (Pure Marketplace, Hybrid Marketplace, and Others), Platform (Web-Based, App-Based), Purchase Type (One-Time, Subscription), and Region 2024-2032". The global online grocery market size reached US$ 549.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5,533.9 Billion by 2032, exhibiting a growth rate (CAGR) of 29.26% during 2024-2032.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/online-grocery-market/requestsample

Factors Affecting the Growth of the Online Grocery Industry:

● Convenience and Time-Saving:

With busy lifestyles, many people are seeking ways to save time on routine tasks like grocery shopping. Online grocery services allow people to shop from the comfort of their homes, avoiding the need to travel, find parking, and wait in long checkout lines. This convenience is enhanced by features, such as scheduled deliveries, easy reordering, and personalized shopping lists, which further streamline the process. The ability to compare prices quickly and access a wider range of products online also adds to the appeal.

● Technological Advancements and Innovation:

Enhanced mobile apps and user-friendly websites offer seamless shopping experiences, while improvements in logistics and supply chain management ensure faster and more reliable delivery services. Innovations like real-time inventory management, artificial intelligence (AI)-driven personalized recommendations, and voice-assisted shopping are making online grocery shopping more efficient and tailored to individual needs. Additionally, the integration of digital payment methods and secure transaction processes is enhancing user confidence in shopping online. These technological developments are not only making online grocery shopping more accessible but are also addressing previous limitations and enhancing the overall user experience.

● Growing Product Variety and Availability:

Online grocery platforms, unlike physical stores, are not limited by shelf space and can provide a broader selection of goods, including niche and specialty items that may not be found in local supermarkets. This wider assortment appeals to consumers looking for specific brands, organic products, international foods, or dietary-specific options. Online platforms also offer exclusive deals and subscriptions that encourage user loyalty and repeat purchases. By catering to diverse individual preferences and dietary needs, online grocery stores are able to attract a broader user base.

Leading Companies Operating in the Global Online Grocery Industry:

● Amazon.com, Inc.
● Carrefour
● Costco Wholesale Corporation
● Edeka Group
● HappyFresh
● Koninklijke Ahold Delhaize N.V.
● Reliance Retail Limited (Reliance Industries Limited)
● Safeway Inc. (Albertsons Companies, Inc.)
● Schwan's Home Delivery
● ShopFoodEx
● Tesco PLC
● The Kroger Co.
● Walmart Inc.
● Wm Morrison Supermarkets Limited

Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=2763&flag=C

Online Grocery Market Report Segmentation:

By Product Type:

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

Staples and cooking essentials exhibit a clear dominance in the market, as they are frequently purchased items with consistent demand among consumers.

By Business Model:

● Pure Marketplace
● Hybrid Marketplace
● Others

Pure marketplace represents the largest segment owing to its ability to offer a wide variety of products from multiple vendors.

By Platform:

● Web-Based
● App-Based

Based on the platform, the market has been bifurcated into web-based and app-based.

By Purchase Type:

● One-Time
● Subscription

On the basis of the purchase type, the market has been classified into one-time and subscription.

Regional Insights:

● North America (U.S. Canada)
● Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
● Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
● Latin America (Brazil, Mexico)
● Middle East Africa

North America dominates the market due to high internet penetration, individual willingness to adopt new technologies, and the presence of established online grocery platforms.

Global Online Grocery Market Trends:

The growing popularity of subscription services, which are offering people convenience, savings, and customization, is positively influencing the market. Many online grocery retailers provide subscription models that allow individuals to receive regular deliveries of frequently purchased items, including household staples, at discounted rates. This model ensures consistent user engagement and fosters brand loyalty by providing a seamless shopping experience that eliminates the need for repeated manual ordering. The predictability of these subscriptions also helps individuals manage their budgets more effectively, offering an attractive value proposition.

Additionally, the use of AI and machine learning (ML) to personalize shopping experiences is impelling the market growth. AI can analyze individual behavior to provide tailored product recommendations and dynamic pricing strategies, enhancing user engagement.

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

Contact Us:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

This release was published on openPR.