Online Grocery Market Size is Projected to Reach USD 129.540 Billion by 2025 - Valuates Reports

BANGALORE, India, Sept. 22, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Online Grocery Market by Type (Packaged Foods, Fresh Foods) by Application (Personal Shoppers, Business Customers) and Region – Global Forecast to 2025", published on Valuates Reports.

In 2018, the global Online Grocery market size was 27.500 Billion USD, and it is expected to reach 129.540 Billion USD by the end of 2025, with a CAGR of 24.8% during 2019-2025.

With the rapid increase in speed and availability of same-day delivery, the smartphone app service offered by online grocery companies has made the consumer experience better than ever.

Several estimates indicate that the U.S. Online Grocery market alone could expand five-fold over the next decade, with customers projected to spend more than USD 100 billion. This is an optimistic prediction, and the same is predicted to be observed all over the world.

The COVID-19 outbreak has led to a rise in the number of consumers purchasing food online as customers stopped going to department stores and reducing their social interactions. The effect of coronavirus has only recently prompted a spike in online grocery shopping worldwide. It is expected to change consumers' purchasing behavior and have a significant long-term impact on the industry.

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TRENDS INFLUENCING THE ONLINE GROCERY MARKET SIZE

The major factor expected to drive the Online Grocery Market size is conveniently delivered to the consumer's doorstep, a variety of product options, and quick delivery. Furthermore, customers can keep track of their expenses as well.

The increase in smartphone users' number is expected to drive the  Online Grocery Market size during the forecast period. Due to their ease of operation, smartphones are widely used for online shopping as they allow users to purchase products through mobile applications.

With the advancement of technology and the growing penetration of Internet services, customer understanding of the numerous shopping patterns trends rising. This, in turn, is expected to increase the growth of the Online Grocery Market size during the forecast period. The most desirable consumer groups in the industry are the Millennials and Generation Z.