The instant grocery market is witnessing exponential growth, expanding from $172.85 billion in 2023 to $208.18 billion in 2024, with a CAGR of 20.4%. This surge is attributed to the demand for convenient shopping options and urbanization. Projections indicate the market will reach $444.05 billion by 2028 at a 20.9% CAGR, driven by changing consumer lifestyles and efficient delivery networks. Key trends include technological advancements and increased collaborations.
Major Driver In The Instant Grocery Market
The significant expansion of the e-commerce sector is poised to boost the instant grocery market. The growth of online buying and selling, driven by increased internet access and competitive pricing, positions instant grocery services as a vital component of the e-commerce landscape, emphasizing convenience and efficiency. In the first quarter of 2024, U.S. retail e-commerce sales reached approximately $289.2 billion, reflecting a 2.1% increase from the fourth quarter of 2023. Therefore, the thriving e-commerce sector is a key driver of the instant grocery market.
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Instant Grocery Market Competitive Landscape
Amazon.com Inc., The Kroger Co., Reliance Industries Limited, Target Corporation, Koninklijke Ahold Delhaize N.V., 7-Eleven Inc., Albertsons Companies Inc., Safeway Inc., Uber Technologies Inc., Rite Aid Corporation, Meijer Inc., Wegmans Food Markets Inc., Yandex.Lavka, HelloFresh SE, DoorDash Inc., Ralphs Grocery Company, Maplebear Inc., GoPuff, Postmates Inc., Boxed Inc., Giant Food LLC, Ocado Retail Limited, Shipt Inc., Mercato Inc., Buymie Technologies Ltd.
Key Instant Grocery Market Trend
The instant grocery market is evolving with quick grocery shopping services that meet the demand for rapid delivery. This model allows consumers to receive their grocery orders swiftly. In June 2024, Uber Eats launched Pick Pack Pay, enabling couriers to shop and deliver groceries directly to customers, enhancing convenience and efficiency in grocery shopping.
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Instant Grocery Market Segmentation
The instant grocery market covered in this report is segmented –
1) By Product: Food Products, Non-Food Products
2) By Delivery Type: Home Delivery, Click and Collect
3) By Purchaser Type: One Time, Subscriber
By Geography:The regions covered in the instant grocery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the instant grocery market in 2023.
The Instant Grocery Global Market Report 2024 furnishes information about the global instant grocery 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.
