Instacart Advertising Revenue (2021–2025)
Food and grocery delivery company Instacart currently ranks among the biggest online grocery companies in the United States in terms of market share. In 2024, its market share is set to hit 21.6%—more than double its 2019 market share of 10.2%. This exponential growth signifies that more than $1 out of every $5 spent on purchasing groceries online in the current year will be attributed to transactions on Instacart.
What about the company’s ad revenues? How are they performing? The following is a breakdown of Instacart’s advertising revenues in recent years, including a forecast for 2025.
Instacart advertising revenue: 2021–2024 annual breakdown
According to a recent market analysis of the California-headquartered business, Instacart’s ad revenues are expected to soar to $1.18 billion in 2024. This impressive figure represents a substantial 25.5% increase from the previous year and signifies a historic milestone as it surpasses the $1 billion mark for the first time in annual revenues.
In 2023, amidst its public debut, Instacart announced that its Instacart Ads platform, tailored toward consumer packaged goods (CPG) brands, boasted an extensive reach of 7.7 million shoppers. Notably, it also said that the platform was being actively utilized by 5,500 brands.
Despite the double-digit increase forecast for this year, it actually represents a slight deceleration from the previous years’ growth rates. In 2023, Instacart’s advertising revenues grew by 27%, to $940 million. The year before, ad revenues rose by 34.5%, to $740 million.
In 2021, Instacart’s ad revenues totaled $550 million. This means that the company more than doubled its annual ad revenues in just three years, growing them by an average annual rate of 29%.
Instacart advertising revenue: 2025 forecast
By market analysts’ estimates, Instacart’s advertising revenues are forecast to continue to rise, but at a slightly slower rate. In 2025, they are projected to grow by 23%, 2.5 percentage points lower than in 2024, as revenues reach $1.45 billion.
From 2021 to 2025, Instacart’s ad revenues are set to rise by a total of $900 million. This is an overall increase of 163.6% and an average annual growth rate of 27.5%. The largest annual increase came in 2022, and the smallest rise is expected in 2025.