Market Overview:
The Global Online Grocery Market size is expected to grow from USD 541.90 billion in 2022 to USD 3168.46 billion by 2030, at a CAGR of 24.70 % during the forecast period (2023-2030).
The online grocery rises in the standardization of the people and the change in the standard of living with the disposable income are the main factors to drive the online grocery market. The need for convenience and comfort from corporate individuals is rising in the growth of the market and is expected to grow continuously in the forecast period. Online grocery shopping has gained the market trend due to many stores now trending online as e-stores.
Top Key Players for Online Grocery Market:
NetGrocer.com Inc. (US), Grofers India Pvt Ltd. (India), AEON Co (Japan), Amazon India Pvt Ltd. (India), Koninklijke Ahold Delhaize N.V. (Netherlands), and other major players.
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others. This will help us understand the market potential. The research report includes quantitative data that helps us fully understand the industry and future market scope.
Market Dynamics and Factors for Online Grocery Market:
Drivers:
The Growth Of The Industry
The growth of the industry is attributed to easy doorstep product delivery, better quality products, along with no geographical boundaries. Consumers are more likely to choose online purchasing than physical shopping because of the convenience of door-to-door delivery. Companies selling their items on the internet nowadays provide superior product quality, which boasts a customer's willingness to order from a specific website on a regular basis.
Opportunities:
Technology Advancements:
People grumbled about loudness in the workplace even before the pandemic without comprehending how hazardous it was. According to Steelcase, background noise harms cardiovascular illness, hypertension, tinnitus, hearing loss, and sleep difficulties. It's the ideal opportunity to address any ignored workplace sound concerns that harm people's physical, emotional, and cognitive well-being as workers leave their home offices and report to work in a post-COVID environment. As a result, the use of Online Grocery is required to address these concerns, which is likely to drive market growth over the forecast period.
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Segmentation Analysis of the Online Grocery Market:
By Type, the staples & cooking essentials segment accounted for the largest market share in 2021. Increased consumption of staple foods such as rice, corn, wheat, etc., and cooking essentials including oil, seasonings & spices, sugar, and others on a regular basis is expected to boost the segment's growth in the global market.
By Delivery Type, the home delivery option is expected to have a larger market share during the forecast period. The click-and-collect process allows the customer to place an order through the online website for the products while selecting the option for pick up. The benefit of click-and-click orders is that the delivery is within the same day or the next day. So, it helps save time and the shipping costs.
By Type
· Fresh Produce
· Breakfast & Dairy
· Snacks & Beverages
· Meat & Seafood
· Staples & Cooking Essentials
· Others
By Delivery Type
· Home Delivery
· Click & Collect
Regional Analysis of the Online Grocery Market:
Asia Pacific accounted for the largest market share in 2021 and is expected to continue dominating the industry over the forecast period. Increased demand for the industry is being driven by factors such as rising population, increased disposable income, and sophisticated food-loving consumers across the region. Furthermore, increased mobile accessibility and broadband adoption are challenging the traditional grocery-buying business model, allowing customers to buy food from anywhere, at any time.
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In January 2021, Walmart plans to expand its automated systems for online grocery orders for pick-and-pack shoppers. The company plans to expand its high-tech systems that pick and pack online grocery orders. As a result of the Coronavirus pandemic, the company's online grocery orders spiked. It's now doing its darndest to keep its competitors at bay by keeping its prices low.
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