Online grocery market size to grow by USD 740.88 billion between 2022 and 2027 | APAC will account for 63% of the market growth - Technavio

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Nov 03, 2023, 00:15 ET

NEW YORK, Nov. 3, 2023 /PRNewswire/ -- The global online grocery market size is projected to grow by USD 740.88 billion between 2022 and 2027, accelerating at a CAGR of 13.14% during the forecast period. APAC will account for 63% of the market growth during the forecast period. Factors such as rising income levels, Westernization of buying habits, and rising awareness about online grocery shopping are driving the growth of the online grocery market in APAC. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) Download a Sample Report

Company Insights

Technavio has announced its latest market research report titled Global Online Grocery Market 2023-2027

Some of the key vendors included in the report are Albertsons Companies Inc., Amazon.com Inc., Blink Commerce Pvt. Ltd., Bundl Technologies Pvt. Ltd., Coles Group Ltd., Costco Wholesale Corp., Flipkart Internet Pvt. Ltd., HOFER KG, Innovative Retail Concepts Pvt. Ltd., Koninklijke Ahold Delhaize NV, Ocado Group Plc, Rakuten Group Inc., Reliance Industries Ltd., Seven and I Holdings Co. Ltd., SPAR International, Target Corp., Tesco Plc, Transform Holdco LLC, Walmart Inc., and Woolworths Group Ltd. among others.

Online Grocery Market 2023-2027: Vendor Offerings

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Some of the key vendors covered in the report include:

Amazon.com Inc. – The company offers online grocery such as fruits and vegetables.
Blink Commerce Pvt. Ltd. – The company offers online grocery such as dry fruits and vegetables.
Coles Group Ltd. – The company offers online grocery such as meat and seafood.
Costco Wholesale Corp. – The company offers online grocery such as meat, seafood, and deli.

Online Grocery Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The online grocery market report covers the following areas:

What`s New for 2023?

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial

Online Grocery Market 2023-2027: Segmentation

The online grocery market is segmented as below:

Product

Food products
Non-food products

The market growth in the food products segment will be significant during the forecast period. The segment is driven by the increasing demand for food products through online retail channels and the rising demand for same-day grocery delivery.

Type

One time customers
Subscribers

The one-time customers segment will generate maximum revenue in the market. Consumers are increasingly choosing the one-time purchase model. Hence, a great number of online grocery stores are offering one-time purchase models to drive sales. This is the key factor driving the growth of the segment.

Geography

North America

The U.S.
Canada

Europe

The U.K.
Germany
France
Rest of Europe

APAC

China
India

South America

Chile
Argentina
Brazil

Middle East & Africa

Saudi Arabia
South Africa
Rest of the Middle East & Africa

For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) and forecast market size (2023 to 2027) – Download a Sample Report

Online Grocery Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist online grocery market growth during the next five years
Estimation of the online grocery market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the online grocery market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of online grocery market vendors

Why Buy?

Add credibility to strategy
Analyzes competitor's offerings
Get a holistic view of the market

Grow your profit margin with Technavio – Buy the Report!

Related Reports:

The online grocery delivery services market is estimated to grow at a CAGR of 19.43% between 2022 and 2027. The size of the market is forecast to increase by USD 652.45 billion. The rapid growth in m-commerce is notably driving the market growth, although factors such as huge competition from offline retail stores may impede the market growth.
The luxury e-tailing market is estimated to grow at a CAGR of 8.44% between 2022 and 2027. The size of the market is forecasted to increase by USD 27,533.22 million. The rise in online spending and smartphone penetration is notably driving the market growth, although factors strict competition from offline channels may impede the market growth.

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Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

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SOURCE Technavio