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Online Grocery Market Size, Industry Analysis Report By Purchaser Type (On time purchase, Subscription), By Delivery Type (Home delivery- company owner stores, third party stores, Third-party stores, Click and collect), By End-User (Individuals, Distributors) & Region – Forecasts

  • PUBLISHED ON
  • 1970-01-01
  • NO OF PAGES
  • 205
  • CATEGORY
  • Information Communication & Technology
The Online Grocery Market: Overview
The Online Grocery Market is valued at around USD 350.55 billion in 2022 and is expected to reach USD 2778.4 billion by 2030, registering a CAGR of 25.3% over the forecast period. Online groceries are the practise of purchasing packaged and fresh foods, as well as other essential household items, using e-commerce platforms. These platforms allow clients to track the delivery process, choose different delivery slots, and access a variety of products while also offering flexible payment choices. By avoiding the need for several food shop journeys, they also save time. As a result, online food stores are becoming very popular, especially among metropolitan residents.

The Online Grocery Market - Growth Factor
Some of the key factors anticipated to propel the market's growth over the forecast period include shifting consumer behaviour, a rise in contactless shopping preferences and social distancing norms, and a paradigm shift toward online grocery and fresh food purchases, particularly in the wake of the COVID-19 pandemic.
Consumer preference has been shifting toward purchasing necessities online due to ongoing urbanisation, an increase in tech-savvy customers, and the unrelenting rise of e-commerce globally. Customers have been encouraged to explore using e-commerce platforms to purchase necessities because of the simplicity of ordering, ease of digital payments, enticing incentives, such discounts and cashback, and convenient and flexible delivery. As a result, compared to pre-pandemic levels, online grocery shopping penetration had tripled by 2020's conclusion.

The Online Grocery Market – Market Trends
• Consumers aim to select alternatives that enable them to maintain flexibility and punctuality in their time management because of their increasingly hectic schedules and desire for a successful career life. Online stores don't have set business hours, so customers may shop whenever it's convenient for them, providing convenience and flexibility.
• Online platforms are also made simpler and more comfortable for clients by the widespread use of internet services, the proliferation of smart devices, and the availability of basic virtual payment methods, which increases demand for the online grocery market. The trend of sustainable delivery and eco-friendly packaging is also propelling industry growth as consumers become more aware of their purchase choices.
• The sector has expanded quickly and offers simple doorstep delivery, better-quality goods, and no geographic restrictions. Due to the ease of home delivery, online transactions are more common than physical ones.
• Due to the great quality of today's products available for purchase online, clients are more likely to make repeat purchases from a single website. This is as a result of the company's excellent product quality.

The Online Grocery Market – Segmentation
The Online Grocery Market fragrance concentrates market has been sub-classified into product type, purchaser type, delivery type, end-user.

On the basis of ingredient type, the Online Grocery Market is bifurcated into:
• Packed foods
1) Snacks- chips and crisps, salty snacks, dried fruits, mixed nuts, popcorn.
2) Baked products- cookies, cakes and pastries, breads and rolls, frozen desserts, confectioneries.
3) Breakfast and cereal- cereal and breakfast bars, granola and museli, energy boosting breakfast, others (syrups, pancakes, etc).
4) Ready to eat foods- instant noodles, pasta, sandwiches, smoked fish.
5) Ready to drink beverages- aspetic juice, iced tea, flavoured milk, soft drinks, energy drink, instant coffee, canned sodas, non-alcoholic drinks.
6) Dairy products- milk, yogurt, cheese, butter, and others.
7) Staples and cooking essentials- salt and spices, sauces, coffee/tea powder, pickles, oils/vinegar, honey/jam.
8) Fresh produce- fruits and vegetables, meat and seafood.
• others

On the basis of purchaser type, the market is segmented into:
• On time purchase
• Subscription
• others

On the basis of Delivery type, the market segmented into:
• Home delivery- company owner stores, third party stores
• Third-party stores
• Click and collect
• Others

On the basis of end-user, the market segmented into:
• Individuals
• Distributors
• Others

The Online Grocery Market –Regional Analysis
North America dominated the global Online Grocery Market, several significant companies are based in North America, including Walmart, Instacart, Amazon.com, Inc., Target, and The Kroger Co. Particularly in the United States, e-commerce sales are steadily increasing. The U.S. Department of Commerce's Retail Indicator Division estimates that e-commerce sales will reach USD 870 billion in 2021, up 14.2% from the previous year. Any potential increase in online sales numbers, however, may be threatened by the resurgence of in-store or offline purchasing in response to the lifting of limitations.

The Online Grocery Market – Key Market players
Global key players of Online Grocery Market include AEON Co., Ltd., Alibaba.com, Amazon.com, Inc., Blinkit (formerly Grofers), Instacart, JD.com, Inc., Natures Basket Limited, Rakuten, Reliance Retail (Reliance Fresh), Supermarket Grocery Supplies Pvt. Ltd. (BigBasket), Target Brands, Inc., Tesco.com, The Kroger Co., and Walmart.

Report scope
Global Online Grocery Market: Historical Years- 2018-2021
Global Online Grocery Market: Forecast Years- 2022-2030
Global Online Grocery Market 2022- USD 2778.4 billion
Global Online Grocery Market 2030- USD 350.55 billion
Global Online Grocery Market CAGR- 25.3%

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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