Online Grocery Market Size, Business Opportunity and Future Demand 2024-2032 | IMARC Group

SHERIDAN, WYOMING, UNITED STATES, January 17, 2024 /EINPresswire.com/ — IMARC Group’s report titled “𝐎𝐧𝐥𝐢𝐧𝐞 𝐆𝐫𝐨𝐜𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐛𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞 (𝐕𝐞𝐠𝐞𝐭𝐚𝐛𝐥𝐞𝐬 𝐚𝐧𝐝 𝐅𝐫𝐮𝐢𝐭𝐬, 𝐃𝐚𝐢𝐫𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬, 𝐒𝐭𝐚𝐩𝐥𝐞𝐬 𝐚𝐧𝐝 𝐂𝐨𝐨𝐤𝐢𝐧𝐠 𝐄𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥𝐬, 𝐒𝐧𝐚𝐜𝐤𝐬, 𝐌𝐞𝐚𝐭 𝐚𝐧𝐝 𝐒𝐞𝐚𝐟𝐨𝐨𝐝, 𝐚𝐧𝐝 𝐎𝐭𝐡𝐞𝐫𝐬), 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐌𝐨𝐝𝐞𝐥 (𝐏𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭𝐩𝐥𝐚𝐜𝐞, 𝐇𝐲𝐛𝐫𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭𝐩𝐥𝐚𝐜𝐞, 𝐚𝐧𝐝 𝐎𝐭𝐡𝐞𝐫𝐬), 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 (𝐖𝐞𝐛-𝐁𝐚𝐬𝐞𝐝, 𝐀𝐩𝐩-𝐁𝐚𝐬𝐞𝐝), 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐲𝐩𝐞 (𝐎𝐧𝐞-𝐓𝐢𝐦𝐞, 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐩𝐭𝐢𝐨𝐧), 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐”. The global online grocery market size reached US$ 549.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5,533.9 Billion by 2032, exhibiting a growth rate (CAGR) of 29.26% during 2024-2032.

𝐅𝐨𝐫 𝐚𝐧 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐫𝐞𝐟𝐞𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/online-grocery-market/requestsample

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐎𝐧𝐥𝐢𝐧𝐞 𝐆𝐫𝐨𝐜𝐞𝐫𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐁𝐞𝐡𝐚𝐯𝐢𝐨𝐫 𝐒𝐡𝐢𝐟𝐭:

The online grocery industry is currently experiencing significant growth owing to a notable shift in consumer behavior. More individuals are prioritizing convenience and safety, especially in the wake of the COVID-19 pandemic. This trend is not just a temporary reaction to the pandemic; it indicates a long-term behavioral shift. Consumers are increasingly seeking options that offer time-saving and efficient shopping experiences. Online grocery platforms cater to these needs by providing easy access to a wide range of products, streamlined ordering processes, and flexible delivery options. Additionally, technological advancements in mobile apps and websites are making online shopping more user-friendly and accessible, further encouraging this shift. As consumers become more accustomed to the ease and convenience of online grocery shopping, the industry is likely to continue its growth trajectory.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧:

The market is growing rapidly, largely due to continuous technological advancements and the integration of sophisticated technologies. Key technologies supporting this growth include artificial intelligence (AI) and machine learning (ML) for personalized shopping experiences, advanced logistics solutions for efficient delivery, and the use of big data for understanding consumer patterns and preferences. These technologies are enhancing the customer experience and improving operational efficiency for online grocery platforms. For instance, AI-driven recommendations can lead to higher customer satisfaction and sales, while logistics optimization reduces delivery times and costs. Furthermore, the adoption of technologies like blockchain for supply chain transparency and the Internet of Things (IoT) for inventory management is bolstering consumer trust and streamlining operations. As technology continues to evolve, it is expected to further propel the growth of the online grocery sector.

𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬 𝐚𝐧𝐝 𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜𝐚𝐥 𝐑𝐞𝐚𝐜𝐡:

At present, the online grocery industry is expanding its service offerings and geographical reach, contributing significantly to its growth. Online grocery platforms are increasingly diversifying their product ranges to include staple grocery items as well as gourmet foods, organic products, and specialty items. This diversification is attracting a broader customer base, catering to various preferences and dietary requirements. Many online grocery services are also extending their reach beyond urban areas to include suburban and rural regions, thus tapping into a previously underserved market. This expansion is facilitated by improvements in supply chain and logistics networks, enabling efficient delivery to a wider range of locations. As online grocery services continue to expand their offerings and reach, they are likely to attract more customers, further favoring market growth.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐧𝐥𝐢𝐧𝐞 𝐆𝐫𝐨𝐜𝐞𝐫𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

Amazon.com, Inc.
Carrefour
Costco Wholesale Corporation
Edeka Group
HappyFresh
Koninklijke Ahold Delhaize N.V.
Reliance Retail Limited (Reliance Industries Limited)
Safeway Inc. (Albertsons Companies, Inc.)
Schwan’s Home Delivery
ShopFoodEx
Tesco PLC
The Kroger Co.
Walmart Inc.
Wm Morrison Supermarkets Limited

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/request?type=report&id=2763&flag=C

𝐎𝐧𝐥𝐢𝐧𝐞 𝐆𝐫𝐨𝐜𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞:

Vegetables and Fruits
Dairy Products
Staples and Cooking Essentials
Snacks
Meat and Seafood
Others

Staples and cooking essentials dominate the market by product type due to their essential nature, forming the basis of daily food consumption and necessitating regular replenishment.

𝐁𝐲 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐌𝐨𝐝𝐞𝐥:

Pure Marketplace
Hybrid Marketplace
Others

Pure marketplace holds the largest market share as it offers a wide variety of products from multiple vendors, providing consumers with extensive choices and competitive pricing.

𝐁𝐲 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦:

Web-Based
App-Based

Based on the platform, the market has been bifurcated into web-based and app-based.

𝐁𝐲 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐓𝐲𝐩𝐞:

One-Time
Subscription

On the basis of the purchase type, the market has been classified as one-time and subscription.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa

North America’s dominance in the online grocery market is attributed to the region’s high internet penetration rates, widespread adoption of e-commerce, and a rising consumer preference for convenience and time-saving shopping options.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐧𝐥𝐢𝐧𝐞 𝐆𝐫𝐨𝐜𝐞𝐫𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Presently, the online grocery industry is witnessing evolving trends in response to shifting consumer preferences and technological advancements. Personalization is gaining prominence worldwide, with AI-driven recommendations and tailored shopping experiences becoming the norm. Sustainability is also emerging as a key focus, with consumers increasingly seeking eco-friendly and locally sourced products. Delivery and logistics are improving, with quicker and more reliable services, including same-day and contactless options. Moreover, ongoing expansion into new markets and demographics is driving growth as online grocery platforms target suburban and rural areas. In addition, increasing partnerships and acquisitions are supporting market growth as companies seek to enhance their capabilities and industry presence.

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐢𝐭 𝐭𝐨 𝐲𝐨𝐮 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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