Online Grocery Market Size, Share, Growth, Trends, and Forecast Report 2030

Online Grocery Market Size & Overview

The global Online Grocery market, which accrued revenue worth nearly 185.4 (USD Billion) in 2019 and is slated to garner earnings worth 807.8 (USD Billion) by 2026, is set to grow at a CAGR of 23.4% during the period from 2020 to 2026. The report offers a valuation and analysis of the Online Grocery market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on value (USD Billion).

With onset of COVID pandemic, the grocery landscape is likely to experience a huge transformation in the coming decade. Reportedly, consumer behavior is changing drastically and nearly 42% of U.S. grocery shoppers have done online shopping for the first time in a pandemic. The online grocery market is likely to gain traction with customers shifting to dining at home and trying new channels of buying along with new food products. Thriving grocery e-Commerce and mobile commerce sectors has further added to the popularity of online grocery business in both developing countries as well as developed economies. For the record, post-coronavirus outbreak, the sales of meal kits went up by nearly 40% to 60% in developed countries. This, in turn, will steer the online grocery market demand in the next decade.

Furthermore, grocery retail stores are focusing on at-home dining activities due to the recent at-home eating trend of consumers in countries of Europe and the U.S. due to the COVID pandemic. Moreover, early adopters or early movers in the grocery retailing business will gain profits and expand their business through sales of groceries online.

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Online Grocery Market Dynamics

Due to the inception of click and collect model, the online grocery market is expected to witness a huge upswing in growth within the span of the next few years. With firms providing discounted offers, replacements, and high quality along with a slew of products to the customers, the online grocery market is projected to reach scalable heights over the assessment timeframe. Today, players are focusing on profit optimization by determining of the dominant strategies by using a payoff matrix. This is likely to drive the growth of the online grocery market over the forecast timeframe.

Furthermore, strict laws forcing consumers to follow social distancing norms in COVID-affected countries like the UK, the U.S., Italy, France, Spain, Brazil, India, and China will have a favorable impact on the market growth over the forthcoming years. The need for reshaping channels to improve grocery e-commerce activities, repositioning of business for reinforcing online business capabilities, and reimagining offerings to make alterations in the value proposition for fulfilling changing food requirements of consumers is projected to help the online grocery market to reach the highest peak of growth in the foreseeable future.

Asia Pacific Market To Register Exponential Growth Over 2020-2026

The growth of the online grocery industry over the assessment timeframe can be credited to the surging per capita income of the consumers in the sub-continent. Moreover, the strict actions taken by the governments to promote digitalization in the countries have fueled the online grocery industry expansion. The rise in the number of e-commerce websites and retail stores will prompt the regional online grocery market growth during the assessment period.

Online Grocery Market: Report Scope

Key participants profiled in the report include

• Amazon.com, Inc.,
• Grofers India Pvt. Ltd.,
• Bigbasket,
• Alibaba.com,
• AEON Co., Ltd.,
• Instacart,
• JD.com, Inc.,
• Walmart,
• Target Brands, Inc.,
• Tesco.com, and Rakuten.

The global Online Grocery market is segmented as follows:

By Product:

• Breakfast & Dairy
• Fresh Produce
• Meat & Seafood
• Staples & Cooking Essentials
• Snacks & Beverages
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa