Consumers’ ever-increasing demand for convenience will drive huge growth in online grocery sales over the next five years, according to a new survey.

Sheridan, Wyo.-based IMARC Group forecasts 22% CAGR in online grocery sales through 2027.

“The increasing demand for online grocery due to rising digital awareness represents one of the primary factors influencing the global online grocery market positively,” according to IMARC. “There is a rise in the number of websites selling online grocery, as it is convenient and reduces the hassle of managing an entire store for the sellers.”

That, coupled with the growing online shopping activities of individuals to save time, is positively influencing the market. In addition, the increasing number of benefits offered by online grocery shopping, such as multiple payment options, cash-on-delivery (COD) services, and doorstep delivery, is propelling the growth of the market.

The growing adoption of innovative business models by grocers, such as subscription, on-demand, slotted, and express delivery options, to improve the shopping experience of customers is offering a favorable market outlook. Additionally, the increasing number of websites providing discounts and coupons for purchasing online grocery, along with the burgeoning e-commerce industry, is strengthening the growth of the market.

Moreover, according to IMARC, the rising demand for unique and premium quality edible items is offering lucrative growth opportunities to industry investors. Furthermore, key market players are undertaking initiatives to enhance the quality of online grocery and boost the online grocery market share. They are also conducting online grocery industry analysis and focusing on mergers and acquisitions (M&A) to increase their overall sales and profit.