Consumer Behavior

Online grocery market to hit $740.8B by 2027

Photo: Adobe Stock

December 13, 2023

The global online grocery market is expected to enjoy "significant" growth between now and 2027, with an estimated annual growth rate of 13.14% and hitting $740.9 billion during the next four years.

The growth is being driven by the increasing adoption of e-commerce and mobile based services and consumers seeking convenience and flexibility in shopping routines, according to Technavio research.

Top challenges faced by the online grocery market include competition form offline retail stores and ensuring quality and freshness of perishable items throughout the supply chain, according to a press release.