Online Grocery Market Size, Share, Trends, Analysis And Growth Forecast To 2027

The global online grocery market is anticipated to witness USD 1.1 Trillion by 2027, expanding at a CAGR of 24.8% till 2027, according to a study by Grand View Research, Inc. Growing use of the smartphone and technological penetration in the consumer market is likely to enhance the market growth. In addition, growing scope of E-commerce and shopping sites are emerging as game changers in the consumer market.

The popularity of online shopping sites in the global marketspace is gaining a huge traction owing to effective customer service. For instance, contact centers working 24*7*365 are readily available for customer assistance on call. This has added to the brand value of online companies in the B2C space. Simultaneously, online companies are experiencing positive growth in the consumer base Y-O-Y basis.Emergence of AI technology and personal assistant offered by several companies are proving effective in the way of customer service and is also helping in the customer retention. Adoption of machine learning for product development has gained a tremendous traction in the past few years. Although many companies across various domains have tried to catch-up with AI, but online grocery companies in the retail business have a high adoption and are leading from the front from the technological perspective. For instance, Amazon, eBay and other online giants have integrated AI technology with payment solutions.

Covid-19 Effect:

Amid the pandemic effect on retail sector, search queries for online grocery rose by 68% in the past few months on the backdrop of covid related lockdowns throughout nations. A recent trend tells more about online consumer behaviour. Nearly 40% of the consumers shifted to online marketspace to purchase more groceries and other essentials due to coronavirus. Therefore, in the past few months, online shopping has managed to cope up with the new normal across the world.

Request a free sample copy or view report summary: Online Grocery Market Report

Further Findings from the report suggest:

  • Based on product, the online grocery market can be segmented as breakfast, fresh produce, dairy, staples, and cooking essentials, meat and seafood, snacks and beverages. Staples and cooking essentials accounted for a significant growth in the forecast period
  • Asia Pacific held a notable position and is expected to register a significant growth in the following years due to the rise in millennial population with a high preference for online buying
  • The key players in the online grocery domain are adopting mergers and acquisitions to capture more market. For instance Target acquired Shipt to protect and help it gain market share
  • Kroger Co. has reported notable earnings in June 2020 and has also partnered with Britain’s Ocado Group Plc.

Major Key Players:

  • Walmart Inc.;
  • JD.com Inc.,
  • Amazon.com Inc.;
  • Alibaba.com
  • Rakuten

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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