Instant Grocery Market Report 2024

The instant grocery market size has grown exponentially in recent years. It will grow from $172.85 billion in 2023 to $208.18 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The increase observed in the historical period can be ascribed to enhanced environmental sustainability, rising urbanization, a growing preference for convenient shopping options, a heightened focus on health and wellness, and escalating operational costs.

The instant grocery market size is expected to see exponential growth in the next few years. It will grow to $444.05 billion in 2028 at a compound annual growth rate (CAGR) of 20.9%. The anticipated growth during the forecast period is driven by evolving consumer lifestyles, increasing use of online platforms, rising demand for meal kits, a growing working population, and the expansion of efficient and dependable last-mile delivery systems. Key trends expected during this period include technological innovations, the integration of IoT, advancements in AI and machine learning, blockchain applications for supply chain transparency, and various collaborations and partnerships.

The rapid expansion of the e-commerce sector is set to drive growth in the instant grocery market moving forward. E-commerce involves the buying and selling of goods and services online or through electronic platforms. This growth is fueled by increasing internet accessibility and competitive pricing strategies adopted by online retailers. Instant grocery services have become pivotal within the e-commerce landscape, revolutionizing how consumers purchase and receive daily necessities. These services offer a combination of convenience, speed, and efficiency that meets the evolving expectations of modern shoppers. For example, in the first quarter of 2024, U.S. retail e-commerce sales reached approximately $289.2 billion, marking a 2.1% increase (±0.7%) from the previous quarter, according to the United States Census Bureau. Thus, the substantial expansion of the e-commerce sector is a key driver for the growth of the instant grocery market.

Leading companies in the instant grocery market are focusing on innovating their offerings, particularly with quick grocery shopping services, to cater to the rising demand for swift delivery. Quick grocery shopping services are designed to provide consumers with the convenience of receiving their grocery orders rapidly, typically within minutes to a few hours of placing the order. For instance, Uber Eats launched Pick Pack Pay in June 2024, a service where couriers shop for groceries at My Basket stores and deliver them directly to customers' homes. This service allows customers to choose from a broad selection of approximately 3,000 grocery items, which are purchased by Uber Eats couriers using a digital credit card and delivered promptly to the customer's doorstep. Pick Pack Pay enhances convenience by offering faster, on-demand grocery delivery compared to traditional online grocery services, benefiting both consumers and participating small stores.

In June 2022, Zomato Ltd., an India-based restaurant aggregator and food delivery company, acquired Blinkit for $568 million to expand into India's fast-growing quick commerce market. This acquisition aims to capitalize on synergies between food and grocery delivery services, enhancing Zomato's market share in the overall consumer spending on food and groceries. Blinkit specializes in online grocery delivery, connecting customers with nearby retailers through its platform, aligning strategically with Zomato's ambitions to broaden its service offerings in the food and grocery delivery sector.

Major companies operating in the instant grocery market are Amazon.com Inc., The Kroger Co., Reliance Industries Limited, Target Corporation, Koninklijke Ahold Delhaize N.V., 7-Eleven Inc., Albertsons Companies Inc., Safeway Inc., Uber Technologies Inc., Rite Aid Corporation, Meijer Inc., Wegmans Food Markets Inc., Yandex.Lavka, HelloFresh SE, DoorDash Inc., Ralphs Grocery Company, Maplebear Inc., GoPuff, Postmates Inc., Boxed Inc., Giant Food LLC, Ocado Retail Limited, Shipt Inc., Mercato Inc., Buymie Technologies Ltd.

Asia-Pacific was the largest region in the instant grocery market in 2023. The regions covered in the instant grocery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the instant grocery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Instant grocery is a service model where customers place online orders for groceries and have them delivered to their doorsteps within a short time frame. This model utilizes technology, logistics, and a network of strategically placed fulfillment centers or dark stores to quickly deliver a diverse range of items, including fresh produce, dairy, meats, packaged foods, and household essentials.

The primary categories in instant grocery include food products and non-food products. Food products encompass any items produced, processed, or intended for human consumption. Delivery methods include home delivery and click-and-collect. The types of purchasers are one-time buyers and subscribers.

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

The instant grocery market includes revenues earned by entities by providing services such as online ordering, fast delivery, contactless delivery, subscription services, personalized recommendations, and order tracking. The market value encompasses the total value of related goods sold by the service providers or included within their service offerings. It specifically includes goods and services traded between entities or sold directly to end consumers within the instant grocery sector.

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).

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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