Online Grocery Market in India Size to grow by USD 11972.9 million between 2024-2028
According to a research report “ Online Grocery Market in India” by Product (Food products, Non-food products) Type (Online, Cash on delivery) Geography (Asia)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 11972.9 million, at a CAGR of 25.2% during the forecast period. In India's burgeoning online grocery market, consumers increasingly opt for e-commerce platforms due to their accessibility and value-added services, such as same-day delivery and enticing discounts, which surpass those offered in traditional brick-and-mortar grocery stores. With a vast array of local and international food and beverage brands vying for consumer attention, physical retailers face limitations in providing adequate shelf space. This market gap presents a lucrative opportunity for manufacturers to sell their products directly to consumers via e-commerce channels. By leveraging e-commerce platforms, consumers enjoy the convenience and extensive selection of grocery products at their fingertips.
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By Product, the Food products segment is projected to dominate the market size in 2024
The online grocery market in India has experienced significant growth in recent years, driven by the increasing penetration of the Internet and mobile devices, growing consumer awareness of the benefits of online shopping, and the convenience offered by digital platforms. A major catalyst to this expansion is the availability of secure online payment systems. These facilities enable customers to seamlessly transact and purchase groceries from the comfort of their homes, thereby enhancing the overall shopping experience.
By Type, Online segment is expected to hold the largest market size for the year 2024
In the Indian online retail market, the grocery food products segment holds significant importance in terms of revenue generation. Consumers frequently purchase food items due to their shorter shelf lives compared to non-food products. Online shopping for food products has gained popularity due to several factors, including customization and personalization options, convenience, swift delivery processes, integrated return policies, and a wide array of high-quality food products, brands, and easy access to smartphone apps from leading global packaged food and beverage producers such as Nestle.
Asia is forecasted to hold the largest market size by region in 2024
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The Online Grocery Market in India growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The online grocery market in India is witnessing a significant surge due to the convenience it offers, especially in the context of RTE food requirements for schools and the busy urban lifestyle. Scheduled deliveries ensure that consumers receive their groceries at their doorstep, offering time-saving benefits. The delivery type can be chosen based on preference, with options ranging from scheduled deliveries to same-day deliveries. Membership programs and subscription models offer discounts and other benefits, making online grocery shopping more attractive. Promotional strategies, such as discounts and cashback offers, are common on e-commerce platforms and food-delivery platforms. Last-mile delivery solutions and payment gateways ensure seamless transactions and efficient delivery. Logistics and mobile applications are essential components of the online grocery business model, enabling small-scale grocers to reach a wider audience. With increasing internet penetration and smartphone usage, digital platforms are becoming the go-to choice for consumers. Overall, the online grocery market in India is poised for growth, offering a virtual supermarket experience that caters to the needs of urban consumers.
Market Research Overview
The online grocery market in India has witnessed significant growth in recent years, driven by scheduled deliveries, membership programs, and subscription models. Polyester bags may not be directly related to this trend, but they are commonly used for packaging and delivering various product types, including RTE food, beverages, household products, baking products, dry products, personal care, vegetables, fruits, dairy products, bread, food grains, and pantry staples. E-commerce technology, mobile applications, and digital payments have transformed the way urban consumers shop for groceries. Payment gateways, cash on delivery, and digital payments have become essential components of online grocery platforms. Logistics and last-mile delivery solutions are crucial for ensuring timely and efficient delivery of perishable items like meat products and fresh produce. Promotional strategies, such as discounts and offers, have also played a significant role in the growth of online grocery marketplaces. E-commerce portals and food-delivery platforms have expanded their product offerings to include specialty items and target specific consumer segments. Quick commerce business models have emerged, offering time-saving benefits to consumers through fast delivery options. Despite the convenience and time-saving benefits, online grocery shopping faces challenges such as trust, security, and price comparison. Shopping platforms must prioritize these concerns to build a reliable and secure shopping experience. The future of grocery retail in India lies at the intersection of offline stores, brick-and-mortar stores, and digital platforms, with each offering unique advantages to consumers.
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