Grocery market in South Korea
The South Korean Grocery eCommerce market is predicted to reach US$39,940.7 million by 2024 and accounts for 28.8% of the total eCommerce market in South Korea. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 15.0%, resulting in a projected market volume of US$69,941.9 million by 2028. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.
Monthly revenues
Monthly eCommerce revenues in the South Korean Grocery market
The monthly eCommerce revenue of the South Korean Grocery market was US$3,279 million in October 2024. This refers to a growth of 4.2% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in March 2024 with 9.3% of the total 2024 revenue of the South Korean Grocery market and the lowest in June 2024 with 7.8% of the total 2024 revenue.
Revenue Last Month
US$3,279.2m
The eCommerce revenue grew by 4.2% from September 2024 to October 2024.
Monthly revenue shares in the last 12 months
0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Monthly revenue share (in %) | 44.0 | 87.0 | 5.2 | 28.3 | 53.6 | 85.8 | 77.8 | 52.1 | 56.5 | 31.1 | 23.8 | 31.1 |
Market development
eCommerce revenue development in the Grocery market in South Korea
The South Korean Grocery eCommerce market is predicted to reach US$39,940.7 million by 2024 and accounts for 28.8% of the total eCommerce market in South Korea. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 15.0%, resulting in a projected market volume of US$69,941.9 million by 2028. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.
eCommerce revenue development in the Grocery market in South Korea
eCommerce revenue growth in the Grocery market in South Korea
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 65.8 | 12.4 | 29.8 | 78.7 | 20.1 | 39.3 | 67.5 | 9.5 |
Top stores
Top five Grocery online stores in South Korea by net sales 2023
With sales in the South Korean Grocery market, coupang.com generated a revenue of US$1,055.8 million in 2023, which means it is the leading online store in this market. The Grocery ranking of South Korea is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.
eCommerce net sales generated in the Grocery market in South Korea in 2023
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
See further stores
Market definition
Definition of the Grocery market
Market definition: Grocery The category Grocery contains the online trade of food (e.g. fruits, vegetables, dairy products, ice creams, cereals, sweets) and beverages (e.g. juices, water, coffee, wine, liquor, beer). The following products and services are not part of this category: ready-to-eat meal delivery, restaurant or bar pick-up or food supplements. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.
In-scope
- Food (e.g. fruits, vegetables, dairy products, ice creams, cereals, sweets)
- Beverages (e.g. juices, water, coffee, wines, liquors, beers)
Out-of-scope
- Ready-to-eat meal delivery
- Restaurant or bar pick-up
- Food supplements
- Pet food
Select sub-category