Global Online Grocery Market Size Worth US$ 2,160.3 Billion By 2028 | CAGR 30.8%

According to the latest research report by IMARC Group, The global online grocery market size reached US$ 420 Billion in 2022.

SHERIDAN, WYOMING, UNITED STATES, February 20, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Online Grocery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global online grocery market size reached US$ 420 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,160.3 Billion by 2028, exhibiting a growth rate (CAGR) of 30.8% during 2023-2028.

Online grocery shopping refers to the process of purchasing food and household items through an online platform. It delivers round-the-clock customer service and guarantees fresh, high-quality products. It allows consumers to avail the various discounts, promotions, and cashback rewards on purchases and is a cost-effective option as compared to traditional grocery shopping. Besides this, it provides convenience, doorstep delivery of products, saves time and money, and eliminates the need to wait in a long queue. It offers a wide variety of options in one place and flexible payment methods with easy returns or exchanges. It also assists in sending automated notifications for delivery updates.

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Global Online Grocery Market Trends:

At present, the increasing adoption of innovative business models in online grocery, such as slotted or express delivery and on-demand or subscription delivery models, represents one of the primary factors propelling the growth of the market. In addition, the growing adoption of online grocery among the masses due to hectic lifestyles and busy working schedules of individuals is offering lucrative growth opportunities to industry investors. Additionally, the increasing demand for online grocery due to rapid digitalization, wide availability of internet facilities, and the rising utilization of smartphones across the globe is supporting the growth of the market. Furthermore, several discounts offered in online grocery to attract a wide consumer base, along with the burgeoning e-commerce industry, are positively influencing the market.                                 

Global Online Grocery Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

Top Online Grocery Companies Worldwide¹:

Amazon.com Services LLC
Costco Wholesale Corporation
EDEKA ZENTRALE Stiftung & Co. KG
Fresh Direct, LLC
HappyFresh Group
Koninklijke Ahold Delhaize N.V.
Reliance Industries Limited (RIL)
Albertsons Companies, Inc.
Cygnus Home Service, LLC
Shopfoodex Co Inc.
Tesco PLC
The Kroger Co.
Walmart Inc
Wm Morrison Supermarkets Limited.

The report has segmented the market on the basis on region, product type, business model, platform and purchase type.

Breakup by Product Type:

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

Staples and cooking essentials dominate the market as they are required daily to support the energy and nutritional needs of individuals.

Breakup by Business Model:

Pure Marketplace
Hybrid Marketplace
Others

Pure marketplace represents the largest business model as it offers a convenient way to compare prices and products from a single source.

Breakup by Platform:

Web-Based
App-Based

Breakup by Purchase Type:

One-Time
Subscription

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Breakup by Region:

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

Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023 - 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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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¹ https://bit.ly/3MjpJjd