India's Online Grocery Market Hits USD 4.8 Billion in 2023, Poised for Future Growth

SHERIDAN, WYOMING, UNITED STATES, November 8, 2023 /EINPresswire.com/ -- The "India Online Grocery Market Size, Share, Report and Forecast 2024-2032," compiled by Expert Market Research, provides an extensive insight into the Indian online grocery market. The report meticulously assesses the market based on various segments, including categories, average spending per transaction, food platforms, payment methods, and major cities.

The report keeps a vigilant eye on the latest developments within the market and their potential impact. It delves into market demands, analyzing price trends and demand indicators. Furthermore, the report employs SWOT and Porter's Five Forces Models to assess the market's competitive dynamics.

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Key Highlights of the Report:

Market Overview (2024-2032)

India's expanding internet penetration and increasing digital awareness are driving the growth of the online grocery market. The affordability of mobile phones and reduced data costs is also expected to boost the online grocery market in India. Government initiatives to promote digital literacy and the digital economy framework will further accelerate the sector's growth.

Tier-I cities with their high-speed internet accessibility, greater mobile device adoption, and logistical ease are expected to be key supporters of the market. The convenience-seeking urban population, as disposable incomes rise and lifestyles become more hectic, is increasingly turning to online platforms for their food purchases. The Indian consumer's exploration of foreign brands and cuisines is another driving force, likely to increase spending on premium and organic foods.

The younger generation's willingness to pay for convenience and the rising proportion of working-age women are additional factors propelling the India online grocery market's growth.

India Online Grocery Industry Definition and Major Segments

Online grocery stores, available in both standalone e-commerce and traditional supermarket formats, are a vital part of the market. These platforms offer an extensive range of products, including groceries, beverages, baked goods, dairy, frozen foods, fresh produce, home cleaning supplies, and personal care items.

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The market is segmented as follows:

Based on category, the market is divided into:

Grocery and Staples
Fruits and Vegetables
Others

By average spend per transaction (in Rupees), the market is segmented into:

<1000
1000 to 1500
>1500

On the basis of food platform, the market is divided into:

Web Site
Mobile Application

Based on payment method, the market is bifurcated into:

Online
Cash on Delivery

On the basis of cities, the market is segmented into:

Bangalore
Delhi-NCR
Mumbai
Hyderabad
Pune
Others

India Online Grocery Market Trends

The Indian online grocery market is expected to benefit from increased private equity and venture capital investments in the country's online retail sectors. Attractive offerings such as affordable delivery fees, quick delivery, cashback incentives, and flexible return policies by e-commerce grocery platforms are anticipated to drive market growth. Initiatives like no-touch delivery and online payment have attracted consumers to various online platforms such as Amazon, BigBasket, and Grofers.

The expansion of remote work arrangements has led to a significant increase in online shopping, presenting new growth opportunities for the India online grocery market. Professionals in cities like Pune and Mumbai, where convenience is paramount, are increasingly opting to purchase their groceries online.

Key Market Players

Prominent players in the India online grocery market include:

Innovative Retail Concepts Pvt Ltd (Big Basket)
Grofers India Private Limited
Amazon Retail India Private Limited
Flipkart India Private Limited (Flipkart Supermart)
Spencer’s Retail Limited.
SPAR India
Natures Basket Limited
Avenue E-Commerce Limited
UrDOORSTEP.com
Paytm E-Commerce Private Limited

These companies are constantly engaged in market shares, capacities, expansions, and mergers and acquisitions to maintain their competitive edge.

This comprehensive report offers valuable insights into the India online grocery market, helping stakeholders make informed decisions in this rapidly evolving industry.

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