Indian Online Grocery Market Size Forecasted To Reach Approximately US$ 46.30 Bn. By 2029, Exhibiting A CAGR Of 37.1%

Published: 2024-07-26
Views: 177
Author: Shitalmax
Published in: Business

Indian Online Grocery Market Report Overview

The Indian online grocery market is witnessing unprecedented growth, driven by a surge in internet penetration, a growing urban population, and changing consumer preferences. As of 2023, the market is valued at approximately US$ 10.50 billion and is projected to reach nearly US$ 46.30 billion by 2029, reflecting a remarkable compound annual growth rate (CAGR) of 37.1% during the forecast period. This growth is attributed to factors such as the convenience of online shopping, an increase in disposable income, and the proliferation of smartphones, which have made it easier for consumers to purchase groceries online. The ongoing shift towards digitalization, accelerated by the COVID-19 pandemic, has also contributed to the rapid expansion of the online grocery segment, as consumers increasingly seek contactless and convenient shopping options.

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Report Scope and Research Methodology

This report provides a comprehensive analysis of the Indian online grocery market, encompassing various aspects such as market dynamics, segmentation, and regional insights. The research methodology includes both primary and secondary data collection methods, ensuring the accuracy and reliability of the findings. Primary research involves surveys, interviews, and discussions with industry experts, key opinion leaders, and stakeholders in the online grocery sector. Secondary research involves a thorough review of existing literature, market reports, and databases to gather relevant information.

The scope of this report extends to various online grocery platforms, including e-commerce giants, hyperlocal delivery services, and traditional grocery retailers that have ventured into the online space. The analysis also covers the competitive landscape, examining key players, their strategies, and market positioning. Furthermore, the report delves into the trends influencing the market, potential challenges, and opportunities for growth in the coming years.

Indian Online Grocery Market Dynamics

Several factors are driving the growth of the Indian online grocery market. Firstly, the increasing smartphone penetration and affordable internet access are enabling consumers to explore and utilize online grocery platforms. Additionally, the rise of millennial and Gen Z consumers, who prioritize convenience and time-saving solutions, is propelling the demand for online grocery shopping.

Secondly, the COVID-19 pandemic has significantly altered consumer behavior, with a marked shift towards online shopping due to safety concerns. As a result, many consumers who were previously hesitant to shop online have embraced it as a safer alternative, leading to a lasting change in shopping habits.

Indian Online Grocery Market Segmentation

by Product Type

1. FMCG
1.1. Packaged Food
1.2. Home Care
1.3. Beverages
1.4. Family Care
2. Grocery & Staple
3. Fruits and Vegetables

by City Type

1. Tier I
2. Tier II
3. Tier III

by Sales Model

1. Bulk Purchase Model
2. Quick Commerce Model

Indian Online Grocery Market Key Players

1. Alibaba
2. Amazon
3. Walmart
4. Grofers
5. Big Basket
6. Local Banya
7. ZopNow
8. Nature Basket
9. Reliance Fresh Direct
10. Green Cart
11. Aaram Shop
12. Eemli
13. Day to Day Fresh
14. Naturally Yours
15. Dilli Grocery
16. Kiranawalla

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Indian Online Grocery Market Regional Insights

The online grocery market in India exhibits regional variations in consumer preferences, purchasing behavior, and growth potential. Urban centers are leading the market, with consumers in metropolitan areas showing a higher propensity to shop online for groceries. Cities like Delhi, Mumbai, Bengaluru, and Chennai are at the forefront of this trend, driven by high internet penetration, busy lifestyles, and a preference for convenience.

In contrast, tier-2 and tier-3 cities are gradually embracing online grocery shopping, albeit at a slower pace. The expansion of logistics networks, coupled with increasing smartphone adoption in these regions, presents significant opportunities for online grocery retailers to tap into a new customer base.

Key Questions answered in the Indian Online Grocery Market Report are:

• What was the Indian Online Grocery market size in 2024?
• What is the expected Indian Online Grocery market size by 2030?
• What are the Indian Online Grocery market segments?
• Which Indian Online Grocery market segment is expected to grow rapidly during the forecast period?
• Which are the prominent players in the Indian Online Grocery Industry?
• What key trends are expected to emerge in the Indian Online Grocery market during the forecast period?
• Which region dominated the global Indian Online Grocery market?

Key Offerings:

• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segments with their sub-segments and Region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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