Online Grocery Market 2023 Expected to Reach Significant Rate by 2030 (2023)

FAQs

What is the projection for online grocery market? ›

Over the next five years, online grocery sales will see a compound annual growth rate (CAGR) of 11.7%, bumping e-commerce's share of overall grocery spending from 11.2% in 2022 to 13.6% in 2027, per a newly released forecast by Brick Meets Click and Mercatus.

U.S. online grocery sales are forecast to grow at a compound average growth rate of 11.7% in that time, increasing online's share of overall grocery spending from 11.2% in 2022 to 13.6% in 2027, according to a news release from the 2023 Brick Meets Click/Mercatus 5-Year Grocery Sales Forecast.

The market size, measured by revenue, of the Online Grocery Sales industry is $36.3bn in 2023. What is the growth rate of the Online Grocery Sales industry in the US in 2023? The market size of the Online Grocery Sales industry is expected to increase 3.6% in 2023.

It is predicted that online grocery shopping will continue to increase at an annual compound growth rate of 37.1% during 2021-2030. Another significant reason for the increase in online grocery shopping is increasing internet access along with cheaper smartphones and low data tariffs in India.

In 2023, all food prices are predicted to increase 7.5 percent, with a prediction interval of 5.5 to 9.6 percent. Food-at-home prices are predicted to increase 7.8 percent, with a prediction interval of 5.3 to 10.5 percent.

The global ecommerce growth rate for 2023 is forecast at 8.9%, bringing global ecommerce sales worldwide to $5.9 trillion. This marks a 1.8 percentage point increase from 2022's growth rate, which followed a massive dip from 2021.

Food inflation: Cost of groceries rising at a slower rate

It was a bad year for food shortages in 2022, with categories including eggs and baby formula hit hard. Unfortunately, 2023 could see its own batches of food shortages.

A 5-year forecast is an educated projection of your company's financial performance over the next five years. It specifically details projected revenues, costs, expenses, cash flows (including any projected capital raises), and owner equity, as well as projecting sales growth and margins.

According to the new 2023 Brick Meets Click/Mercatus 5-Year Grocery Sales Forecast, total U.S. online grocery sales are forecast to grow at a compound average growth rate (CAGR) of 11.7% over the next five years, increasing online's share of overall grocery spending from 11.2% in 2022 to 13.6% in 2027.

tesco.com is the clear leader in the net sales comparison of eCommerce players specializing in the supermarket field.

What is the biggest online grocery business? ›

In the next 10 years, the percentage of shoppers doing their grocery shopping online is expected to more than double. Nearly three-quarters of all shoppers — 72% — are projected to conduct 25% of their grocery shopping online by 2025.

“We believe that the Covid-driven bump will not flatten future e-commerce growth,” says Brian Nowak, an equity analyst covering the U.S. internet industry. He sees e-commerce reaching 27% of retail sales by 2026.

Right now, 70% of Americans are shopping online. In 2022 alone, there were a total of 268 million digital buyers in the United States and by 2025, this number is likely to reach 285 million. Their purchases represent about 18% of the global ecommerce. This leads to great earnings for the US ecommerce industry.

Food & Beverage: Average annual inflation rate: 2.33%

Food and drinks may be about 26% more expensive by 2030. That means a trip to the grocery store that costs you $250 now could set you back more than $314. If you like fresh fruit, your grocery bill could climb higher even sooner.

Although inflation is coming down, high grocery prices will continue and consumer price sensitivity is growing, experts from the Food Industry Association said Wednesday.

In 2023, the food supply chain is still facing a number of issues and supply chain disruptions are limiting product availability and driving up prices. Avian flu continues to be a thorn in the side of the poultry industry. Over the last 6 years, avian flu has continued to make headlines and disrupt the market.

For instance, mobile phones and smartphone accessories are customer favorites. As a result, the smartphone accessories market is expected to reach $413 billion in value by 2030. Products that will attract high demand include: Phone cases: Phone cases always sell, and 2023 is unlikely to be different.

Will eCommerce continue to grow in 2023? ›

E-commerce sales are expected to grow 10.4% in 2023

Since 20.8% of retail purchases are expected to take place online in 2023, it's no surprise that e-commerce sales are supposed to increase as well. With more customers shopping online, your business can sell more and earn more as a result.

It is estimated that between 720 and 811 million people in the world faced hunger in 2020. Around 660 million people may still face hunger in 2030, in part due to lasting effects of the COVID-19 pandemic on global food security.

All Americans should have at least a three-day supply of food and water stored in their homes, with at least one gallon of water per person per day.

2023 will also likely bring a beef shortage, meaning you may need to shell out more if you want to serve burgers and steak. Last year, a drought in Texas resulted in less grass feed for cows. At the same time, alternative feeds were expensive, so farmers sold their cattle earlier than anticipated.

The formula is: sales forecast = estimated amount of customers x average value of customer purchases. New business approach: This method is for new businesses and small startups that don't have any historical data. It uses sales forecasts of a similar business that sells similar products.

Calculate your sales forecast

Divide your sales revenue for the year so far by the number of months so far to calculate your average monthly sales rate. Multiply your average monthly sales rate by the number of months left in the year to calculate your projected sales revenue for the rest of the year.

Economic outlook for the retail industry

A slowing economy will keep retail sales growth in check. In our baseline scenario (55% probability), we forecast GDP growth to slow to 0.9% in 2023 from an estimated 2% in 2022 and 5.9% in 2021.

Shopping online at Walmart Groceries means customers can get the same low prices they've come to expect from Walmart's big-box items for all their fresh goods. Walmart Inc. is the No. 1 retailer in digital grocery and will remain on top, at least through 2023, according to our US digital grocery forecast.

What is the largest online grocery store in the US? ›

Amazon Fresh

For years, Amazon has worn the crown as king of eCommerce. Through all of their successful ventures, grocery is Amazon's fastest-growing category. Amazon Fresh is all about convenience, technology, and keeping prices as low as possible.

The FoodIndustry.Com list of the top 10 grocery chains in the US by revenue – 2021. 1. WALMART INC. Walmart once again top our list for the leader in grocery sales (it accounted for more than one-quarter of all grocery revenues in the United States) with FY2022 sales of $467 billion.

1. Instacart. Instacart is probably the most well-known of the grocery delivery services, as it sends personal shoppers to a grocery store in your area of your choosing.

Dumpling provides an extremely ethical model of grocery delivery that both shoppers and clients can feel good about. Dumpling is the new ethical alternative to grocery delivery app Instacart. Dumpling is a grocery delivery outfit that you can feel good about. Empowering gig workers as small business owners.

In 2030, retailers must have an integrated omnichannel shopping experience that allows them to plan their supply based on the demand they're driving by personalizing offers, making product recommendations, and better directing customer interest.

Store Fronts Will Become Virtual

By 2030, store windows will be used in conjunction with smartphone devices to create animated and curated visual output, as well as leasable space to generate more income. Visual content will vary depending on shoppers' preferences and behaviours, and even time of day.

Market data provider Statista predicts that in 2021, online purchases made from smartphones will account for more than $345 billion in retail sales. With mobile e-commerce, shopping happens everywhere, no brick-and-mortar storefront or laptop required.

What is the projected growth for online shopping? ›

Key trends to watch for in 2023 include the rise of live shopping with influencers, the integration of AR and VR technology, the trend toward one-to-one live shopping sessions, and the intersection of live shopping with social commerce.

Online sales still make up a greater portion of retail sales than they did prior to the pandemic. But they have steadily declined from their peak in the spring of 2020. Top companies say they're noticing more shoppers returning stores.

eCommerce spending has had a declining growth rate since the beginning of 2022. The growth of eCommerce sales was, in fact, negative in March and April. Despite the rebound of four percentage points in May, eCommerce sales continue to be on a declining trend.

Digital sales decreased 6% over 2021, while sales in stores grew by 3%. There were 42.7 million active customers, a 4% decrease. Net income was $1.1 billion, down from $1.4 billion in 2021.

The Global E-Commerce Market is expected to grow at a CAGR of 17.4% during the forecast period 2023-2030, and is projected to reach US$ 20313450 million by 2028. (With 106 pages of the report).

What is the growth rate of digital marketing? The compound annual growth rate of digital marketing from 2020-2026 is projected at 9%. Digital display is projected to grow at a 15.5% CAGR, while search is projected to grow at 12.2%. Search accounts for 40.9% of the global digital advertising and marketing market.

1. Shipping and delivery services. The rising popularity of online purchases has led to an increased demand for shippers and is fast securing its place as the growth industry front-runner. The American Shipper reports that as much as 8% of all retail sales are made online, or $394 billion.

Retail is expected to change significantly in 2023, with omnichannel retail, social commerce, and the metaverse shaping the industry. Experiential retail, personalized shopping experiences, and frictionless shopping are also predicted to be key trends.

The e-commerce industry has been growing at an unprecedented rate in recent years. But with the rise of online shopping giants and a waning pandemic, is selling online still worth it in 2023? The answer is yes.

Is it more sustainable to shop online or in store? ›

A Carnegie Melon study found “e-commerce delivery uses less primary energy and produces less CO2 emissions than traditional retailing… Overall, e-commerce had about 30% lower energy consumption and CO2 emissions compared to traditional retail.”

With the rise of ecommerce, it's only natural that the number of online shoppers worldwide rises along with it. As it stands in 2023, the number of digital buyers is at 2.64 billion. This makes up 33.3% of the population worldwide.