Online grocery market expected to reach USD 1,637.1 billion

Online Grocery Marketplace

Online Grocery Marketplace

The online grocery market generated a revenue of USD 291.0 billion in 2021 and is expected to reach USD 1,637.1 billion in 2029, growing at a CAGR of 24.1% over the next few years.

For additional information, click to access the full report – https://www.gmiresearch.com/report/online-grocery-market/

Factors driving the growth of the online grocery market include growing internet penetration rates, expanding e-commerce industry, rising smartphone sales globally and the increase in the number of online grocery start-ups around the world. According to the report published by Statista, the global e-commerce market was calculated around $4.23 trillion in 2022 and the market volume is expected to reach $5.88 trillion by the end of 2025, with growth at a CAGR of 11.58% over the forecast period. (2022-2025), which is expected to drive the market growth in the coming years. Additionally, the growing popularity of contactless delivery services, the availability of a wide range of online payment options at online grocery stores, technological advancements in mobile applications, and the growing trend of online shopping across the world are some of the additional factors supplementing the online grocery market share. . Additionally, growing investments by major players in research and development, increasing disposable incomes, rapid urbanization and increasing population growth rates are further accelerating the size of the online grocery market.

However, the growth of the online grocery market is hampered due to growing concerns over the global recession.

Major players operating in the market are Rakuten Inc., Target Brands, Inc., Tesco.com Ltd., AEON Co., Ltd., Alibaba Group Holding Ltd., Amazon.com, Inc., Walmart Inc., Grofers India . Pvt. Ltd., Instacart Inc. and JD.com, Inc., among others.

Based on product, Staples & Cooking Essentials segment captured the largest market share in 2019

Staple foods such as flours and food grains are increasingly used in local cuisine in Asia, is the main factor propelling the growth of the segment.

On the other hand, the Breakfast and Diary segment is expected to grow at a remarkable CAGR during the forecast period, attributed to busy lifestyles and increasing consumption of yogurts and flavored dairy products.

Based on region, North America region is expected to hold the highest market share during the forecast period

According to the online grocery market study, high internet penetration rates, the presence of major e-commerce companies such as eBay, Walmart and Amazon.com, Inc., the proliferation of smartphones, increasing population growth rates and high per capita incomes, are a few. significant factors increasing the growth of the North America market.

Key developments:

In 2018, Kroger Co. entered into a partnership with Alibaba Group Holding Ltd., to expand its product offering in the Chinese market.
In 2018, Walmart partnered with Rakuten Inc. to launch its online grocery service in Japan.

Market segmentation

Segmentation by product

Fresh products
Breakfast and agenda
Snacks and drinks
Meat & Seafood
Staples and kitchen essentials
Others

Segmentation by Business Model

Just for the game
Hyperlocal delivery

Segmentation by region

Asia Pacific
China
Japan
India
Rest of APAC

North America
the United States of America
Canada

Europe
UK
Germany
France
Spain
The rest of Europe

Line
Brazil
South Africa
Saudi Arabia
United Arab Emirates

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