The India online grocery market size has been estimated at USD 4,540.0 Million in 2022 and is projected to grow at a CAGR of 32.7% from 2022 to 2032, reaching USD 76,761.0 Million by that time which surges the India online grocery market key trends and opportunities.
The Indian online grocery market has expanded significantly in recent months due to changing consumer preferences, increasing urbanization, and tech-savvy millennials who prefer to purchase online.
Growing disposable incomes and hectic lifestyles are causing people to use more practical and customisable online grocery shopping platforms rather than visiting their local vendors, which will drive future developments in the India online grocery business.
India’s Burgeoning Online Grocery Market: Examine Our Sample Report to Discover the Main Trends and Prospects :
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Following the COVID-19 outbreak, the preference for grocery product delivery via the internet became more obvious. Consumers are shifting their attention to online grocery shopping due to the social distancing standards because it is not only convenient but also a safer option which results in the boosting of the India online grocery adoption trends.
In the upcoming years, the India online grocery market is expected to experience significant India online grocery market growth. Consumers are increasingly purchasing their regular groceries from a variety of online platforms thanks to initiatives like no contact delivery and online payment.
The dependence of consumers on the online platform has significantly increased as a result of the safety concerns surrounding the coronavirus and a sizable portion of the population working from home. In turn, this has given the India online grocery market a number of India online grocery market growth opportunities.
Key Takeaways:
- Explosive Growth: The India online grocery market is on a trajectory of phenomenal growth, with an estimated size of USD 4,540 Million in 2022 and a projected CAGR of 32.7% from 2022 to 2032. By 2032, it is anticipated to reach a staggering USD 76,761 Million, fueled by shifting consumer lifestyles, growing urbanization, and increased tech-savvy youth preferring online shopping.
- Segment-wise Surge:
- The “Others” segment in the product type category is poised to lead, growing at a CAGR of 35.8% through 2032.
- Fresh produce is anticipated to grow at a CAGR of 35.2%, maintaining its significance.
- Online payment methods are set to dominate with a CAGR of 33.6%, while offline payment methods will grow at 28.7% through 2032.
- Product Type Dynamics:
- Snacks and beverages hold the highest market share (21.2% through 2032).
- Breakfast & dairy products secure the second-highest market share (20.8% through 2032).
- Payment Method Preferences:
- Online payment methods capture the lion’s share with 84.2% through 2032.
- Offline methods, such as cash on delivery, account for 15.8% market share.
- Changing Consumer Behavior: The surge in online grocery shopping is attributed to growing disposable incomes, busier lifestyles, and a preference for customizable and practical platforms. The COVID-19 pandemic has further accelerated the adoption of online grocery shopping due to safety concerns and social distancing norms.
- Future Growth Opportunities: The India online grocery market is poised for significant growth in the upcoming years, driven by consumers’ increasing reliance on online platforms. Initiatives like no-contact delivery and online payments have opened up new avenues for growth.
- Competitive Landscape: The market is characterized by fierce competition, prompting key players to employ strategies like partnerships, mergers & acquisitions, and geographic expansion. Major players include Amazon India Pvt. Ltd., Godrej Nature’s Basket Ltd., Grofers India Pvt. Ltd., Paytm E-Commerce Pvt. Ltd., Reliance Retail Ltd., Spencer’s Retail, Supermarket Grocery Supplies Pvt. Ltd. (BigBasket), and UrDoorstep eRetail Pvt. Ltd.
- Recent Developments:
- Amazon India Pvt. Ltd. expanded its online grocery store, Amazon Fresh, to Pune, Ahmedabad, Kolkata, and Chennai in November 2020, leveraging its specialized geographic network for swift delivery service
COMPETITIVE LANDSCAPE:
The India online grocery market is fragmented, and the players engage in fierce competition. By putting various strategies into practise, such as partnerships, mergers & acquisitions, and geographic expansion, key India online grocery market players are concentrating on increasing their India online grocery market presence.
These tactics assist the India online grocery market participants in geographically expanding their businesses and improving their product offerings on both the domestic and international markets.
In India online grocery market, some notable participants are Amazon India Pvt. Ltd.; Godrej Nature’s Basket Ltd.; Grofers India Pvt. Ltd.; Paytm E-Commerce Pvt. Ltd. (Paytm Mall); Reliance Retail Ltd. (Reliance Fresh); Spencer’s Retail; Supermarket Grocery Supplies Pvt. Ltd. (BigBasket); UrDoorstep eRetail Pvt. Ltd.
Recent Development in the India Online Grocery:
- New Launches:
In four more cities—Pune, Ahmedabad, Kolkata, and Chennai—Amazon India Pvt. Ltd. started operating its online grocery store Amazon Fresh in November 2020.
According to the business, the service was launched in these cities thanks to the growth of its specialised geographic network, which enables super-quick delivery services for groceries and daily necessities through the Amazon Fresh Store on Amazon.in.
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Key Segments
By Product Type:
- Fresh Produce
- Breakfast & Dairy
- Snacks & Beverages
- Meat & Seafood
- Staples & Cooking Essentials
- Others
By Payment Method:
- Online
- Offline (Cash on Delivery)
By Region:
- South India
- North India
- West India
- East India
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