Online Grocery Market is Projected to Grow at a CAGR of 12.61% During the Forecast Period Due to a Surge in Promotional Activities Conducted by Major Players

May 2023, Market Research Future has published a Report on the Global Online Grocery Market.

Online Grocery Market Highlights

The Online Grocery Market Size was valued at USD 11.5 Billion in 2022. The Online Grocery market industry is projected to grow from USD 12.95 Billion in 2023 to USD 33.49 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.61% during the forecast period (2023 - 2032). The growth is anticipated to be supported by the growing demand from companies across many industries. Based on the report, the growing application areas will drive growth in the market in the coming years till 2027. However, the availability of alternative solutions will negatively affect the online grocery market’s growth. The easy availability of alternative products is anticipated to be another factor which could turn out to be a threat to companies during 2020 to 2027. The market report based on primary and secondary data reveals that product type segments will witness a healthy growth till 2027. While the surging usage across different industries will support the market during the forecast period and the rising demand from a large number of manufacturers will also help the market globally, the growth could be affected by the weak supply chain which could hinder business activities. The low demand from developing countries is also expected to be responsible for stalled online grocery market growth till 2032.

Online Grocery Market Segmentation:The online grocery market is categorized into smaller segments such as product type in order to analyze the market. The product type segments are then categorized further. The product type segment is categorized into packaged, processed food & beverages (food [baby food, bakery & confectionery, breakfast cereals, dairy products, frozen desserts, meat, plant-based food, poultry & seafood , sweet & savory snacks, and others], beverages [alcoholic beverages and non-alcoholic beverages] fruits & vegetables [frozen and fresh], personal care & hygiene products [hair care products, hand hygiene products, skin care products, and others] baby care products, household cleaning products, and others.

The introduction of new products will drive growth in the market during the forecast period 2020 to 2027. Across all the segments including product type, the global market for online grocery will witness a healthy growth. However, factors such as the fluctuating prices of raw materials could become a threat to the market’s growth. Economic activities surrounding the online grocery sector will also get benefitted from the surging usage across different industries. Businesses across online grocery have been thoroughly studied and analyzed by online grocery industry’s expert researchers. Findings have been published in the online grocery market research report with forecasts till 2027.

Online Grocery Market Regional Overview:

The online grocery market, apart from the product and service related segments, is spread across the world. The regional markets of online grocery covered in the report are North America, Europe, Asia-Pacific, the Middle East and Africa as well as the rest of the world. Favorable government policies are set to be a key growth factor for businesses active in the online grocery space. The market across North America is segmented into the United States, Mexico, Canada, and others. Regional markets in the online grocery sector across the European market are segmented into Germany, Italy, the United Kingdom, and France. The market in the APAC region is segmented into India, China, Japan, and others. Online grocery based businesses across the world will be supported by the presence of many untapped opportunities across the market during the forecast period 2020 to 2027. However, the growth could be hindered by the growing preference of consumers towards alternative solutions. The market is also segmented into the Middle East and Africa regions among others.

Competitive Landscape:Online grocery based companies have been studied and profiled in the market research report. The online grocery market along with its segments and key players has been studied. Online grocery business analysis is done to identify competitors and their strategies. The global online grocery market research report covers core values, strengths and other key factors about online grocery related companies. Competitors to help comprehend their mission, vision, core values, niche market, strengths, and weaknesses. The presence of untapped market opportunities is set to help the market during the forecast period 2023 to 2032. The market is anticipated to reach a higher valuation of USD 28.84 Billion with a CAGR of 12.61%. However, the availability of alternative channels will prove to be affecting the online grocery market growth.

Industry News:According to a filing with both the Competition Commission of India (CCI), Tata Sons Pvt. Ltd has agreed to buy India's leading grocer Big Basket for more than $1 billion. Tata Digital Ltd, a digital logistics affiliate of Tata Sons, has agreed to buy up to 64.3 percent of Supermarket Grocery Supplies Pvt. Ltd (SGS), a company that provides goods to commercial units. SGS will then take complete ownership of Innovative Retail Concepts Pvt. Ltd (IRC), a company that delivers goods to consumers through big basket. The majority of the big non-promoter investors would profit from this transaction. The initial owners would maintain an interest in the venture. Tata wants to purchase 64.3 percent of the company from current non-founder and non-promoter founders.