Indian Online Grocery Market to Reach US$ 80.6 Billion by 2032, Fueled by Burgeoning E-Commerce industry

March 20, 2023 | Retail

According to the latest report by IMARC Group, titled "Indian Online Grocery Market Report by Product Type (Food Grains, Bread, Bakery and Dairy Products, Fruits and Vegetables, Personal Care, Dry and Baking Products, Household Products, Beverages, Meat and Meat Products, and Others), Payment Method (Online, Cash on Delivery), Platform (App-based, Web-based), and Region 2024-2032," the Indian online grocery market size reached US$ 9.0 Billion in 2023. Online grocery refers to various e-commerce web- or mobile-based applications that are used for purchasing food and other necessary household products over the internet. It can be either an independent online grocery retailer or a brick-and-mortar grocery store and supermarket with online ordering facilities. The online grocery offers various advantages such as convenience, ease of shopping, and access to a wide selection of products at any time of the day. Apart from this, it allows customers to pre-pay orders online and schedule the time and intervals of the home deliveries as per their requirements directly from the local department store or third-party e-retailing businesses. These platforms provide a variety of goods, including beverages, bakery, canned products, dairy, frozen foods, meat, personal care, fresh fruits and vegetables, and homecare cleaners, among others.

Indian Online Grocery Market Trends:

The flourishing e-commerce industry, backed by the penetration of smartphones and the rising proliferation of the internet due to declining data tariffs, is primarily driving the market growth in India. Besides this, the widespread adoption of online shopping among consumers in Tier-I cities and various government initiatives promoting digital literacy and the digital economy framework are creating a positive outlook for the market. Additionally, rapid urbanization, the expanding working population, inflating disposable incomes, and hectic schedules are prompting individuals to employ customizable and convenient online channels for grocery shopping, which, in turn, is favoring the market growth. Moreover, innovative advancements, such as the introduction of better voice search features and local languages over English, are presenting lucrative opportunities for the market's growth. Concurrent with this, attractive offers, including low delivery charges, fast delivery, cashback offers, and flexible return policies by online grocery stores, are fuelling the product demand in the country. Furthermore, extensive private equity (PE) and venture capital (VC) funding in the retail sector to upgrade existing systems and develop an efficient supply chain, transportation system, and inventory to meet evolving consumer needs are acting as other growth-inducing factors. Apart from this, the rising inclination of younger demographics toward convenience, changing consumer preferences for premium and organic food, new market entrants, and the intensive focus on expanding the e-commerce business are propelling the market growth. Looking forward, the market value is projected to reach US$ 80.6 Billion by 2032, expanding at a CAGR of 26.7% during 2024-2032.

Market Summary:

On the basis of the product type, the market is segregated into food grains, bread, bakery and dairy products, fruits and vegetables, personal care, dry and baking products, household products, beverages, meat and meat products, and others.
Based on the payment method, the market has been bifurcated into online and cash-on-delivery.
On the basis of the platform, the market has been divided into app- and web-based.
On a regional basis, the market has been segmented into North, East, West, and South India.
The competitive landscape of the market has also been examined, with some of the key players being Aaram Shop Private Limited, Amazon Retail India Pvt. Ltd, Godrej Nature's Basket, Blink Commerce Private Limited, Innovative Retail Concepts Pvt Ltd (Bigbasket), and Paytm E-Commerce Pvt. Ltd.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Payment Method, Platform, Region
Region Covered	North India, East India, West India, South India
Companies Covered	Aaram Shop Private Limited, Amazon Retail India Pvt. Ltd, Godrej Nature's Basket, Blink Commerce Private Limited, Innovative Retail Concepts Pvt Ltd (Bigbasket) and Paytm E-Commerce Pvt. Ltd.
Customization Scope	10% Free Customization
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Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Indian Online Grocery Market to Reach US$ 80.6 Billion by 2032, Fueled by Burgeoning E-Commerce industry

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