The groceries transportation market has experienced robust growth, rising from $56.48 billion in 2023 to $60.5 billion in 2024, with a compound annual growth rate (CAGR) of 7.1%. This growth is driven by the rise of online grocery shopping, urban expansion, and consumer demand for freshness. The market is expected to reach $80.08 billion by 2028, growing at a CAGR of 7.3%. Future growth is attributed to e-commerce expansion, sustainability initiatives, and globalization of supply chains. Key trends include AI-driven logistics, advanced analytics, blockchain integration, and developments in cold chain technology and autonomous vehicles.
Major Driver In The Groceries Transportation Market
The expansion of online grocery shopping is expected to boost the growth of the grocery transportation market. Online grocery shopping, which involves purchasing groceries through digital platforms and having them delivered, is growing due to its convenience, 24/7 availability, and extensive product selection. Grocery transportation services are vital for ensuring timely deliveries, maintaining product freshness, and meeting customer expectations. According to Adobe in March 2023, the e-grocery market grew by 103% year-on-year (YoY) from $73.7 billion in 2020 to $79.2 billion in 2021. Additionally, monthly grocery spending increased from $3.1 billion to $6.7 billion before and after the outbreak. The expansion of online grocery shopping is driving the grocery transportation market forward.
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Groceries Transportation Market Competitive Landscape
Cargill Incorporated, A.P. Møller - Maersk A/S, SYSCO Corporation, Performance Food Group Company, DB Schenker, Kuehne + Nagel International AG, C.H. Robinson Worldwide Inc., Gordon Food Service Inc., J.B. Hunt Transport Inc., Ryder System Inc., SpartanNash Company, XPO Logistics Inc., Lineage Logistics Holdings LLC, Total Quality Logistics LLC, McLane Company Inc., Hellmann Worldwide Logistics GmbH & Co. KG, NFI Industries, Werner Enterprises Inc., Americold Realty Trust, US Xpress Inc., Lynden Incorporated, Greatwide Logistics Services, Trinity Logistics Inc., H&M Bay Inc., PSS Distribution Services, Domenico Transportation Co.
Key Groceries Transportation Market Trend
In the grocery transportation market, companies are integrating AI-powered logistics solutions such as route optimization to boost efficiency and convenience. Route optimization technologies use machine learning to refine transportation routes and schedules. For instance, in March 2024, Walmart Inc., a US-based retail giant, launched Element, an AI-powered software for optimizing truck delivery routes and schedules. This software improves operational efficiency and enhances customer experiences by offering a flexible pricing model and advanced AI capabilities.
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Groceries Transportation Market Segmentation
The groceries transportation market covered in this report is segmented –
1) By Product Type: Vegetables And Fruits, Dairy Products, Meat And Seafood, Other Product Types
2) By Transportation Mode: Roadways, Railways, Seaways, Airways
3) By Application: Retail, Food And Beverage, Consumer Goods, Other Applications
By Geography:The regions covered in the groceries transportation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the groceries transportation market in 2023.
The Groceries Transportation Global Market Report 2024 furnishes information about the global groceries transportation market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
