Strong Growth Ahead: Online Grocery Market Size To Grow At Arecord 21.5% Cagr By 2029

The Online Grocery Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Online Grocery Market Size Expected to Be by 2034?
The size of the online grocery market has experienced remarkable growth over the past few years. Predictions indicate it will expand from $542.72 billion in 2024 to $659.7 billion in 2025, boasting a compound annual growth rate (CAGR) of 21.6%. The notable growth observed in the historic period owes its progress to the sustained development in e-commerce, implementation of ultra-rapid delivery services, emphasis on sustainability, further investment in end-point logistics, and improved methods of payment.

In the coming years, the online grocery market size is predicted to undergo significant expansion. The forecast suggests it will escalate to $1435.51 billion in 2029, experiencing a compound annual growth rate (CAGR) of 21.5%. Factors contributing to this predicted growth during the forecast period include increased internet access and penetration, advancements in e-commerce, improved delivery and logistics systems, widespread use of mobile technology, and a surge induced by the COVID-19 pandemic. Key trends throughout this projected period include the integration of technology, emphasis on sustainability, improved customer experience, cooperation with physical retailers, and the shift towards contactless/cashless transactions.

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What Are the Emerging Segments Within the Online Grocery Market?
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

Subsegments:
1) By Fresh Produce: Fruits, Vegetables, Herbs
2) By Staple And Cooking Essentials: Grains (Rice, Pasta), Cooking Oils, Spices And Seasonings
3) By Ready-To-Eat Food: Pre-Packaged Meals, Frozen Dinners, Meal Kits
4) By Snacks And Beverages: Chips And Crackers, Soft Drinks, Juices And Health Drinks
5) By Bakery And Confectionery: Bread And Rolls, Pastries And Cakes, Chocolates And Sweets
6) By Dairy Products: Milk And Cream, Cheese, Yogurt
7) By Breakfast And Cereal: Breakfast Cereals, Oatmeal, Granola Bars

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What Long-Term Drivers Are Shaping Online Grocery Market Trends?
The expected surge in the online grocery market in the coming years is thought to be driven by an increasing inclination towards digital shopping, rooted in the desire for convenience and safety. Also known as online shopping or e-commerce, digital shopping involves purchasing goods or services via an internet-enabled mobile application or website. The attractiveness of this form of shopping in grocery stores lies in its convenience and time-efficiency, allowing consumers the luxury of selection and purchase from their own homes, with the added advantage of home delivery. As indicated by a survey carried out by Eurostat, a European intergovernmental body, in February 2023, 68% of people aged 16 to 74 confirmed purchasing or placing an order for goods or services online over the previous year, demonstrating a 1% increase compared to 2021. Furthermore, among recent internet users over the past three months, 51% were identified as e-shoppers in 2022. Hence, this shift in preferences towards digital shopping for reasons of convenience and safety is fuelling the growth of the online grocery market.

Who Are the Top Competitors in Key Online Grocery Market Segments?
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.

What Online Grocery Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the online grocery sector, such as the B2B membership platform, are embracing subscription models and membership schemes to cater more effectively to their established customers. Transacting and collaborating among suppliers, distributors, and retailers is facilitated by a B2B membership platform in online grocery, which acts as a digital connecting point within the supply chain. For example, in October 2023, Swiggy, an online food ordering platform run by Bundl Technologies Private Limited in India, introduced Swiggy One Lite. A cost-effective alternative of the membership group Swiggy One, Swiggy One Lite offers benefits for food, groceries, and delivery and pick-up services. Starting at Rs 99 for three months, Swiggy One Lite provides a range of benefits, including free delivery, special offers, and discounts. This platform is available as a B2B membership, bundled with different offerings from key brand partners in the telecommunications and financial services industries.

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Which Regions Are Becoming Hubs for Online Grocery Market Innovation?
Asia-Pacific was the largest region in the online grocery market in 2024. 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Online Grocery Market?
2. What is the CAGR expected in the Online Grocery Market?
3. What Are the Key Innovations Transforming the Online Grocery Industry?
4. Which Region Is Leading the Online Grocery Market?

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