Global Online Grocery Market Overview
The global online grocery market is anticipated to grow from US$ 492.22 billion in 2023 to over US$ 2,984.27 billion by 2032, with an expected CAGR of 22.17% from 2024 to 2032, according to Renub Research.
Online grocery shopping involves buying food and household items through digital platforms, providing consumers with convenience, a broad product selection, and significant time savings. The industry has seen rapid growth and innovative trends, with companies enhancing their online delivery services to meet consumer demand. For example, in March 2023, Amazon teamed up with Rite Aid to offer 2-hour delivery for Prime members, providing cosmetics and grocery essentials.
Key Insights from the Online Grocery Market
Recent Mergers & Acquisitions in the Online Grocery Market
India Online Grocery Market
India is expected to have the second-largest global online consumer base by 2030, with 500-600 million online shoppers. This rapid growth is fueled by the expanding e-commerce sector, increasing smartphone internet penetration, and the convenience of online shopping. Online grocery stores are flourishing in Tier-II cities due to increasing incomes, urbanization, and limited real estate in urban areas. By 2025, 87% of Indian households are expected to have internet access, with mobile internet usage growing by 21% from 2019 to 2025.
Key Players in the Global Online Grocery Market
Leading companies in the online grocery market include Tesco Plc., Walmart Inc., Auchan SA, Kroger Co., Carrefour, Costco Wholesale Corporation, Koninklijke Ahold Delhaize N.V., and Target Corporation.
Recent Developments in the Online Grocery Market
These trends and developments reflect the dynamic and rapidly evolving nature of the global online grocery market, with companies continuously innovating to meet consumer demands and leverage new opportunities.
Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.
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