The Online Grocery market was $176.3 Bn in 2020, and it is highly expected to reach $729.1 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 15.3% between 2020-2030. The current pandemic of COVID-19 might make a slight difference in the growth rate. During the time of COVID-19, this market has a great chance to grow. Since we can’t step out always because of the panic so we are being more comfortable with the whole E-Commerce thing. We are also being more comfortable in purchasing grocery online in terms of maintaining social distancing. However, the higher amount of purchasing of the global industry itself expected to boost the high demand in terms of improving the quality and it is a more convenient option as well. The online grocery shopping is getting popular and this is eventually playing a significant role in the market itself. Apart from that, the high rise of different competitors that are new offers every day is further estimated to make a lot of growth for the market over the forecast period of 2020-2030.
Online grocery market has shown a great surge during CoVID. Online grocery companies advantages such as curbing in between dealers, genuine products and great discounts over the products are some of the major reasons attributing towards the growth of online grocery market. Even though it has faced lot of challenges due to local grocery market but with time these grocery players are linking themselves with these online grocery platforms. This shifting pattern of dealers in grocery has also attributed towards the growth of the market positively. Also, increased third party websites where one seller can sell their products independently has increased the scope of selling in all regions. North America dominates the market with a share of more than 38.6% in 2020.
Global Online Grocery Segment Is Estimated To Witness Remarkable Growth
Source: SAI Research
The Online Grocery have been segmented based on category and shopper. The competition is becoming high, and it is getting tough to challenge the Online Grocery market in terms of the increasing rate of working population as well as hectic schedule. According to the past analyzation also the future predicting, this market will gain enough profit because of the easy access to everything that a home need. All of these factors will be increasing the growth at any stage, and the demand for this will never stop, and eventually, it will turn into the best choice ever. Everything will play a major role in the global Online grocery market to reach the ultimate goal during the forecast period.
North America Is Holding The Market Share By Region
Global Online Grocery market has been geographically segmented into Europe, Asia Pacific, Latin America, and the Middle East region. However, the largest share of the market is held by North America and Europe. The reasons can be many, but one of the reasons is nothing but the easy access to the kitchen essentials. Asia-Pacific region is estimated to have a slow but promising growth over the projection period. Latin America and the Middle East are estimated to witness steady growth during the period owing to the rise of grocery market. Hence, these will fuel in the growth during 2020-2030.
Major Players In Online Grocery Market
Key players profiled in the report include JD, Kirana Now, Amazon, Wal-Mart Stores Inc, Ocado Group PLC, Sainsbury PLC, Innovative Retail Concepts Pvt Ltd (Bigbasket), Grofers India Private Limited (Grofers), Paytm E-Commerce Pvt. Ltd. (Paytm Mall), Others.
Global Online Grocery Market Has Been Segmented Into:
Global Online Grocery Market, By Category
Global Online Grocery Market, By Shopper
Global Online Grocery Market, By Geography