PUBLISHER: 360iResearch | PRODUCT CODE: 1471403
PUBLISHER: 360iResearch | PRODUCT CODE: 1471403
[181 Pages Report] The Online Grocery Market size was estimated at USD 200.00 billion in 2023 and expected to reach USD 229.28 billion in 2024, at a CAGR 14.90% to reach USD 529.10 billion by 2030.
Online grocery comprises sales of groceries through online platforms, mobile apps, and websites, enabling consumers to purchase food and household items over the internet. This market includes a variety of products, including fresh produce, packaged foods, beverages, personal care products, and household cleaning supplies. The scope extends from end-to-end processes involved in selecting, purchasing, and delivering these products directly to the consumer's doorstep. The primary applications include residential households, small businesses, and, in certain cases, bulk purchasers, inclduing hostels or small restaurants looking for direct deliveries of grocery supplies. The growing shift towards online shopping, fueled by the convenience and time-saving aspects of online grocery shopping, significantly contributes to market expansion. Increased service area coverage by online grocery providers and the introduction of value-added services such as same-day delivery encourage more consumers to shop online. Logistic challenges, including maintaining product quality during transit, especially for perishable goods, hampers the market growth. The adoption of AI and machine learning for personalized shopping experiences, integration of voice-assisted shopping, and expansion into underserved regions present significant opportunities for market growth. Further, leveraging blockchain technology to enhance supply chain transparency and food safety could tap into the consumer's growing concern over product sourcing and authenticity.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 200.00 billion |
Estimated Year [2024] | USD 229.28 billion |
Forecast Year [2030] | USD 529.10 billion |
CAGR (%) | 14.90% |
Product: Increasing packed foods, encompassing ready-to-eat meals that addresses the needs of convenience and longevity
The fresh produce segment in the online grocery market comprises fruits, vegetables, herbs, and other perishables. This segment caters to customers prioritizing health, freshness, and organic options. The need-based preference for fresh produce includes the demand for locally sourced and organic products, fueling the farm-to-table movement. Packed foods, encompassing ready-to-eat meals, canned goods, frozen foods, and packaged snacks, address the needs of convenience, longevity, and diversity in dietary options. This segment appeals to a broad demographic, from busy professionals seeking quick meal solutions to families looking for variety and dietary-specific products.
Delivery Type: Growing usage of instant delivery services that offer the convenience of delivering groceries
Instant delivery services offer the convenience of delivering groceries within a very short time frame, typically less than 2 hours after an order is placed. This delivery type caters to customers with immediate needs or those who value speed and convenience over cost. Providers focus on urban areas where this service model is both viable and profitable due to the high density of potential users. Scheduled delivery services allow customers to order their groceries in advance and select a specific time slot for delivery. This delivery type is ideal for organized individuals and families who prefer planning their purchases ahead of time and are more sensitive to delivery fees. Customers opting for scheduled delivery value planning and efficiency. They tend to be budget-conscious and appreciate the ability to choose delivery times that fit into their schedules, thus avoiding the need to adjust their day-to-day activities. This service is popular among families and individuals who do weekly meal planning.
Regional Insights
In the Americas, the convenience of online shopping, coupled with fast delivery services, has significantly boosted the online grocery market. Emerging technologies and business models, such as subscription services and personalized shopping, are continually shaping consumer preferences. Notable investments include expansions of warehouse and delivery infrastructure by leading players. The Asia Pacific region is expanding with rising online grocery sales, with innovative technologies such as mobile payments and social commerce playing a significant role. The market sees a high emphasis on speed and convenience, with same-day delivery services becoming increasingly common. The online grocery market in the EU is diverse, with consumer preferences varying significantly across countries. However, a common trend is the demand for organic and locally sourced products. EU regulations supporting fair trade and organic certification have further driven this demand. Innovations aimed at reducing food waste and improving delivery efficiency are prevalent. The Middle East sees a growing interest in online grocery shopping amid rising internet penetration and smartphone usage. The market is characterized by a preference for halal-certified products and a strong demand for high-quality, international foods. Recent initiatives focus on enhancing cold chain logistics to maintain the quality of perishables. Africa's online grocery market shows considerable potential, driven by an expanding middle class and increasing internet accessibility.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Online Grocery Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Online Grocery Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Online Grocery Market, highlighting leading vendors and their innovative profiles. These include Aldi Stores Limited, Alibaba Group, Amazon.com, Inc., Avenue Supermarkets limited by Zomato, Carrefour, Costco Wholesale Corporation, Dunzo Digital Private Limited, Edeka Group, Fresh Direct, LLC, Instacart, Misfits Market, Inc., Natures Basket Limited by Spencer's Retail, Ocado Group PLC, Paytm, Reliance Retail Ltd., Supermarket Grocery Supplies Pvt. Ltd., Target Corporation, Tesco PLC, The Kroger Company, UrDoorstep eRetail Pvt. Ltd., and Walmart Inc..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Online Grocery Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Online Grocery Market?
3. What are the technology trends and regulatory frameworks in the Online Grocery Market?
4. What is the market share of the leading vendors in the Online Grocery Market?
5. Which modes and strategic moves are suitable for entering the Online Grocery Market?