The Online Grocery Market is being driven by Increased popularity and adoption of e-commerce platform
The Online Grocery Market is expected to grow at a CAGR of 18.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1535.6 billion. In today's health-conscious world, the market for functional food and beverages is experiencing significant growth. Consumers are increasingly seeking out products that offer benefits such as enhanced immunity, improved cognitive function, heart health, digestive health, hydration, and electrolyte replacement. This trend is being driven by a rise in non-traditional fitness activities and a focus on overall wellness. Due to the limited availability of these products in physical retail stores, online grocery markets have emerged as a popular destination for consumers to purchase functional food and beverages, catering to their evolving nutritional needs.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
239 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.5% |
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Market growth 2025-2029 |
USD 1535.6 billion |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
15.2 |
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Key countries |
China, US, UK, India, Japan, France, Indonesia, Russia, Canada, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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In today's digital age, online grocery shopping is on the rise, offering time-saving benefits and contactless delivery through digital platforms. Household products and a wide selection of items can be ordered with ease using online payments. Small-scale grocers join the fray, leveraging tech tools like AI and ML for supply chain management. Locally sourced groceries and drone deliveries add to the appeal, catering to tech-savvy consumers who value convenience and safety.
The global online grocery market is a significant segment of the broader retail industry, with key players offering various payment methods, contactless delivery options, and flexible delivery choices. This market includes small-scale grocers, food-delivery platforms, and offline stores transitioning to digital platforms. The market's expansion is driven by factors such as increasing consumer preference for time-saving benefits, growing Internet penetration, and the convenience of milk product delivery straight to doorsteps. Service fees and brand awareness are crucial considerations for market participants, with third-party platforms and online marketplaces playing a significant role in the industry's growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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