Global Online Grocery Sector On Path To Reach $2,778.4B By 2032


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Newark, DE — The global online grocery market is expected to have a CAGR of 23 percent from 2022 to 2032. The market is anticipated to generate a revenue of $2,778.4 billion by 2032, up from $350.55 billion in 2022. According to Future Market Insights analysis, smartphone apps account for about 90 percent (by volume) of online grocery orders with web-based platforms making up the remaining 10 percent.

During the past three quarters, companies have invested more than $100 million in online grocery start-ups. Online shopping for convenience food is likely to increase, Future Market adds. On the basis of product type, packed food is anticipated to account for around 50 percent of the global online grocery market by the end of the year. North America is predicted to account for a significant share of the market. Proliferating ecommerce platforms and rapid digitization across the region are expected to be supportive of the expansion of the online grocery market, the company reports.

During the forecast period, Future Market Insights notes the Asia Pacific region is expected to continue its dominance, accounting for the largest market share in 2022. Factors responsible for the increased demand for online grocery markets include population growth, increasing disposable income, and sophisticated food lovers across the region are among the factors driving the increase in demand for the industry. In addition to that, rising mobile accessibility and broadband adoption are challenging the traditional grocery-buying business model, allowing customers to buy food anywhere, anytime, says Future Market Insights.  

Key takeaways of the report include:

  • The global online grocery market is expected to grow as disposable income rises. People are looking for products that can meet their comfort levels. People are more likely to spend money on services they can easily obtain and are more willing to save time by shopping online. Online grocery shopping has become an easy and convenient option for many people. Their willingness to pay for these goods is also higher than usual.
  •  Rapid urbanization has led to a surge in incomes which resulted in a rise in the standard of living. Online grocery markets have rapidly gained traction because of the growth of middle-class populations and advances in internet infrastructure. As a result of being relieved from physically going to stores, people are expecting to dispose of their income a little bit more when ordering products online from the comfort of their homes. 
  • The online grocery business is expected to run on two pillars packing up orders and delivering them. Owing to a surge in technological advances and automation, large grocers are spending heavily on making online shopping more popular. 
  •  The implementation of automation has proven to be extremely helpful for retailers as it fulfills the grocery demands of consumers efficiently. Automated pickup has already been implemented in developed countries such as the U.S., Canada and the U.K. In the future, consumers will turn to online groceries for convenience as a result of such automation. 
  • Packaged foods are the major portion of this segment because of the wide array of food products available.