Research Expert: Sarah Overall
  • Published: Feb 2025
  • Pages: 150
  • SKU: IRTNTR71102

  • India Grocery Market Size 2024-2028: Key Trends, Dynamics, and Key Players

    The Indian grocery market is expected to grow by USD 310 billion, with a compound annual growth rate (CAGR) of 8.1% from 2023 to 2028. This market growth is primarily driven by the increasing demand for online grocery shopping, along with the rise in private-label goods and the expansion of omnichannel retailing.

    Grocery Market in India 2024-2028

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    Market Segmentation

    The market is divided into the following key segments:

    • Platform

      • Offline
      • Online
    • Product

      • Food Grains
      • Bread Bakery and Dairy Products
      • Fruits and Vegetables
      • Personal Care
      • Others
    • Geography

      • India

    Market Dynamics

    Drivers:

    • Rapid Growth in M-Commerce:
      The widespread use of smartphones has led to a significant shift towards mobile-based grocery shopping. Major e-commerce players, including Amazon, are leveraging this trend by focusing on both e-commerce and m-commerce channels. As a result, online grocery shopping is becoming more accessible to consumers in urban areas.

    Trends:

    • Demand for Functional Foods and Beverages:
      Health-conscious consumers, particularly younger individuals aged 18-32, are driving the demand for functional foods and beverages. This trend is fueled by the increasing popularity of wellness and fitness lifestyles. Consumers are more willing to pay a premium for products that offer health benefits, such as reduced fat.

    Challenges:

    • End-User Mixed Perception of Online Grocery Shopping:
      Despite the convenience of online grocery shopping, there are concerns regarding product quality and delivery reliability. Many consumers still prefer in-store shopping to ensure freshness and satisfaction, particularly with food items. As a result, retailers must balance both traditional and online shopping experiences to address consumer preferences effectively.

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    Key Players

    The major players in the India grocery market include:

    • Amazon.com Inc.
    • Avenue Supermarts Ltd.
    • B L Agro Industries Ltd.
    • Blink Commerce Pvt. Ltd.
    • Brisam Retail Pvt. Ltd.
    • Dookan Technologies s.r.o
    • Dunzo Digital Pvt. Ltd.
    • Flora foods
    • FRESHTOHOME FOODS Pvt. Ltd.
    • GFOI retail Pvt. Ltd.
    • Heritage Foods Ltd.
    • Innovative Retail Concepts Pvt. Ltd.
    • One97 Communications Ltd.
    • Reliance Industries Ltd.
    • RP Sanjiv Goenka Group
    • Satvika Bio Foods India Pvt. Ltd.
    • SPAR Group Inc.
    • Tata Sons Pvt. Ltd
    • Walmart Inc.
    • Zepto
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