According to IMARC Group latest published report, titled “Online Grocery Market Size, Share, Growth, Opportunity and Forecast 2022-2027,” that The global online grocery market is expected to exhibit a CAGR of 22.1% during 2022-2027.
Online groceries are food and beverages sold by manufacturers through online platforms. They comprise vegetables, pulses, cereals, snacks, processed meat, seafood, eggs, juices, oils, condiments, sauces, and bakery, dairy and canned food products. They are freshly produced, safely packaged, and timely delivered to the doorsteps of the buyer. They are available at discounted prices and can be returned or replaced if contaminated or damaged. They can be purchased in bulk by comparing the quality, prices, package sizes, and ingredients from various shopping websites. They can be ordered through easy-to-navigate apps that offer various brands, sizes, and products to customers. Besides this, they offer flexibility and convenience and help save time by eliminating the hassles of physically visiting a store to purchase groceries. They also enable buyers to effectively keep track of their expenses by relying only on their shopping lists while avoiding unnecessary expenses. Apart from this, as they provide customers with their order history to save time for searching daily essential products, the demand for online groceries is rising worldwide.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Online Grocery Industry Trends:
At present, the increasing demand for online groceries due to the hectic lifestyle of individuals around the world represents one of the key factors driving the market. In addition, there is a rise in the sales of online groceries due to associated benefits. This, along with the burgeoning e-commerce industry, is propelling the growth of the market. Apart from this, online grocery shopping provides various payment options, doorstep delivery, and heavy discounts, which is strengthening the growth of the market. Additionally, the growing adoption of innovative business ideas by grocers, such as on-demand, subscription, slotted, and express delivery models, to enhance the shopping experiences of consumers is offering a favorable market outlook.
Also Read – Top 15 Online Grocery Companies Worldwide – IMARC Group
Besides this, technological advancements in the food and beverage (F&B) industry, along with the growing number of online retail stores, distribution channels, and e-commerce platforms, are positively influencing the market. Moreover, the increasing availability of unique products, coupled with shopping subscriptions and free shipping facilities offered by online sellers across the globe, is impelling the growth of the market. Other growth-inducing factors are rapid urbanization and commercialization, inflating income levels of individuals, and the rising number of tech-savvy consumers. Furthermore, key market players are extensively investing in research and development (R&D) activities to introduce various techniques for enhancing their business models and offering better deals to customers, which is expected to bolster the growth of the market in the coming years.
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List of Major Key Players:
The major players in the market are Amazon.com, Inc. (AMZN), Costco Wholesale (NASDAQ: COST), EDEKA ZENTRALE Stiftung & Co. KG, Fresh Direct, LLC, HappyFresh Group, Koninklijke Ahold Delhaize N.V., Reliance Industries Limited (RELIANCE.NS) (RIL), Albertsons Companies, Inc., Cygnus Home Service, LLC, Shopfoodex Co Inc., Tesco PLC, The Kroger Co., Walmart Inc, and Wm Morrison Supermarkets Limited.
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