Online Grocery Global Market Report 2024

The online grocery market size has grown exponentially in recent years. It will grow from $445.99 billion in 2023 to $542.72 billion in 2024 at a compound annual growth rate (CAGR) of 21.7%. The growth observed in the historical period can be attributed to several factors, including the sustained expansion of e-commerce, the proliferation of ultrafast delivery services, a heightened focus on sustainability practices, increased investments in last-mile logistics, and the development of enhanced payment solutions. These factors collectively contributed to the evolution and success of online grocery shopping, offering consumers more convenient and efficient ways to access a wide range of products while addressing key considerations such as speed of delivery, environmental impact, and seamless payment options.

The online grocery market size is expected to see exponential growth in the next few years. It will grow to $1.18 trillion in 2028 at a compound annual growth rate (CAGR) of 21.5%. The anticipated growth in the forecast period can be attributed to factors such as increased internet penetration and access, advancements in e-commerce technologies, improvements in logistics and delivery systems, the widespread proliferation of mobile technology, and the surge induced by the COVID-19 pandemic. Major trends expected in this period include the integration of technology to enhance online grocery shopping experiences, a heightened focus on sustainability practices, continuous improvement in customer experience, strategic partnerships with brick-and-mortar retailers, and the prevalence of contactless and cashless transactions. These trends collectively contribute to the projected growth and evolution of the online grocery industry in the forecasted period.

The online grocery market is poised for growth, driven by a shifting preference towards digital shopping for the sake of convenience and safety. Digital shopping, also known as e-commerce or online shopping, involves purchasing products or services through an internet connection, typically using a mobile app or website. Online grocery shopping offers convenience and time-saving benefits, enabling customers to browse, select, and purchase goods from the comfort of their homes, with the added convenience of doorstep delivery. According to Eurostat in February 2023, 68% of individuals aged 16 to 74 reported buying or ordering products or services online in the past 12 months, reflecting a 1% increase from 2021. Among internet users in the last 3 months, 51% engaged in online shopping in 2022. This growing preference for digital shopping is a key factor propelling the online grocery market.

Leading companies in the online grocery market are embracing subscription models and membership programs, including B2B membership platforms, to better cater to the needs of their existing consumers. B2B membership platforms in the online grocery sector serve as digital hubs that connect businesses within the supply chain, facilitating transactions and collaboration among suppliers, distributors, and retailers. For instance, in October 2023, Bundl Technologies Private Limited (Swiggy), an India-based company operating an online food ordering platform, launched Swiggy One Lite. This new and more economical variant of Swiggy One, the membership club, offers benefits for meals, groceries, and pick-up and delivery services. Swiggy One Lite provides perks such as free delivery, special deals, and discounts, with a starting price of Rs 99 for three months. The Lite version is available as a B2B membership, bundled with offerings from major brand partners in the telecom and banking sectors.

In December 2022, Getir, a Turkey-based swift online grocery startup, acquired Gorillas for an undisclosed amount. This acquisition solidifies Getir's position as one of the few ultrafast delivery firms in the United States and Europe. Gorillas is a Germany-based super-fast online grocery delivery company.

Major companies operating in the online grocery market report are Amazon.com Inc., The Kroger Company, Alibaba Group, Target Corporation, Koninklijke Ahold Delhaize N.V., Edeka group, Albertsons Companies, Inc., Getir, Uber Eats, Delivery Hero, Doordash, ALDI Inc., Flipkart Supermart, Just Eat, Jio Mart, Auchan SA, ASDA Groceries, Instacart, Safeway Inc., FreshDirect LLC.

Asia-Pacific was the largest region in the online grocery market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the online grocery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the online grocery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The online grocery market consists of revenues earned by entities by providing services such as in-store pickup, home delivery, flexible shopping, and 24/7 ordering. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Online grocery refers to the digital procurement of food and household items through websites or mobile applications, coupled with the convenience of home delivery or the option for customers to pick up their orders. Online grocery shopping serves as a convenient, efficient, and cost-effective alternative to traditional in-store grocery shopping, providing consumers with a wide selection of items that can be browsed and purchased from the comfort of their homes.

The primary products available in the realm of online grocery shopping include fresh produce, staples and cooking essentials, ready-to-eat food, snacks and beverages, bakery and confectionery items, dairy products, and breakfast and cereal options. Fresh produce, which includes vegetables, fruits, and other unprocessed plant-based items, is readily accessible through online grocery platforms. This method of shopping provides a straightforward, time-saving, and cost-effective alternative to traditional in-store purchases, offering a diverse selection of fresh food with assured quality. Consumers can place orders for these products through various platforms such as mobile applications and websites, with the convenience of choosing between instant delivery or scheduled delivery. Online grocery shopping caters to a range of end-users, including individuals, distributors, and other entities seeking a more efficient and convenient way to procure food and household items.

The online grocery market research report is one of a series of new reports that provides online grocery market statistics, including online grocery industry global market size, regional shares, competitors with an online grocery market share, detailed online grocery market segments, market trends and opportunities, and any further data you may need to thrive in the online grocery industry. This online grocery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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