The online grocery market is a digital platform where consumers can purchase various food and household products online. This digital industry offers convenience, a wide product selection, and time-saving benefits to consumers. The online grocery market has witnessed numerous recent developments that are focused on improving and enhancing online grocery delivery services. Amazon.com, Inc. extended its partnership with Rite Aid in March 2023 to offer two-hour delivery to Prime members for cosmetics and groceries.
Online Grocery Market Survey
- There are currently over 26 million eCommerce websites across the globe, and new ones are being developed every day.
- 87% of customers reported using their mobile devices to shop for groceries online.
- According to a recent study, 51% of Millennials stated that they would consider switching brands if they were offered digital services without flaws.
- 72% of customers prefer online grocery shopping due to convenience.
- In 2022, 87.2% of US residents aged 15 or older usually shop for groceries online or in person. Of these, 19.3% have bought groceries online in the last 30 days.
- By 2024, over 50% of online purchases in China will be made using mobile devices.
- In China, digital grocery purchases increased from 9.0% in 2018 to 19.0% in 2021. This figure is predicted to reach almost 30% by 2025.
- By 2023, India's e-retail shopper base is estimated to reach 230-250 million, with over 100 million added in the last three years. Seventy percent of online shoppers live in Tier 2+ cities, and one-third are Gen Z. About a third of online shoppers belong to low-income or low-middle-income groups.
Recent Merger & Acquisition in Online Grocery Market
- In July 2023, Swiggy acquired LYNK Logistics Ltd entered the food and grocery retail market.
- July & October 2023, Kering completed acquisitions of Creed & Purchase 30% Stake in Valentino.
- In 2023, Aldi acquired Winn-Dixie and Harveys Supermarket.
- April 2023, L'Oreal announced the acquisition of Aēsop
- In 2023, Ahold Delhaize USA sold FreshDirect to Getir.
- In 2023, Price Chopper d purchased 5 former New York ShopRite stores.
- In 2023, PFSbrands acquired Moser's Foods, a grocer in Mid-Missouri.
- In 2023, Foxtrot and Dom's announced a merger.
- In April 2024, SpartanNash acquired Metcalfe's Market, a three-store Wisconsin grocer.
- In October 2022, Kroger Co. and Albertsons Cos. announced the merger, raising concerns from industry stakeholders, national unions, The Federal Trade Commission, and various lawmakers.
India Online Grocery Market
By 2030, India is expected to have the second-largest online shopper base globally, with 500-600 million shoppers. The Indian online grocery market is booming, mainly due to the growth of the e-commerce industry, increasing mobile internet penetration, and the convenience of online shopping. Due to rising incomes and urbanization, online grocery stores are expanding to Tier-II cities. The need for online grocery stores arose due to changing working conditions and the challenge of finding extensive land within cities. The text states that by 2025, around 87% of Indian households will have internet access, with a 21% increase in mobile internet access compared to 2019.BigBasket, India's biggest online grocery, received US$ 300 Million in funding from Alibaba in 2022, valuing the company at around US$ 950 Million.
Global Online Grocery Company Analysis
The global online grocery market has vital industry players, including Tesco Plc., Walmart Inc., Auchan SA, Kroger Co., Carrefour, Costco Wholesale Corporation, Koninklijke Ahold Delhaize N.V., and Target Corporation.Global Online Grocery Company News
In January 2024 - Stor.ai and Mercatus Technologies merged to help independent and regional retailers offer e-commerce services to customers and compete with larger grocers. In November 2023 - Ahold Delhaize USA is selling FreshDirect to Getir, a leader in ultrafast grocery delivery. The decision was made to focus on omnichannel investments.
In October 2023 - Kroger now accepts EBT payment for digital pickup and delivery orders.
In July 2023 - Woolworths New Zealand now offers more than 10,000 grocery items through the MILKRUN app. The retailer is committed to providing excellent supermarket experiences and has transitioned from Countdown to Woolworths New Zealand.
In January 2023 - Sainsbury's partnered with Eat Takeaway for faster grocery delivery.
Products - Market breakup in 6 viewpoints:
1. Ready-to-eat Breakfast & Dairy2. Staples & Cooking Essentials
3. Snacks & Beverages
4. Meat & Seafood
5. Fresh Produce
6. Others
Purchaser Type - Market breakup in 2 viewpoints:
1. Ready-to-eat Subscription Purchase2. One Time Purchase
Delivery Type - Market breakup in 2 viewpoints:
1. Ready-to-eat Click & Collect2. Home Delivery
Payment Mode - Market breakup in 2 viewpoints:
1. Online2. Cash on Delivery
Country - Market breakup of 25 Countries:
1. North America1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherland
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Tesco Plc.2. Walmart Inc.
3. Auchan SA
4. The Kroger Co.
5. Carrefour
6. Costco Wholesale Corporation
7. Koninklijke Ahold Delhaize N.V.
8. Target Corporation
Table of Contents
Companies Mentioned
- Tesco Plc.
- Walmart Inc.
- Auchan SA
- The Kroger Co.
- Carrefour
- Costco Wholesale Corporation
- Koninklijke Ahold Delhaize N.V.
- Target Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 492.22 Billion |
| Forecasted Market Value ( USD | $ 2984.27 Billion |
| Compound Annual Growth Rate | 22.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
