The India online grocery market size is projected to surpass US$ 3.2 billion in 2023 and is estimated to reach a valuation of US$ 6.8 billion by 2033. The India online grocery market share is projected to thrive at a CAGR of 7.8% from 2023 to 2033.
In Indian cities, the trend toward urbanization has produced more stressful lives. The need for quick shopping options has increased as more individuals move to cities in search of employment. Online grocery shopping is a great fit for the urban lifestyle since it eliminates the time and effort required for commuting and traversing busy stores.
The use of smartphones and internet penetration have significantly increased in India. They are more at ease with online transactions as more individuals have access to digital devices and steady internet connections. A wider demographic now has access to grocery shopping due to the advent of mobile apps and user-friendly websites.
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Businesses in the Indian online grocery market have made significant investments in supply chain management, logistics, and technology. Improvements in the entire shopping experience as a result of these efforts include quicker delivery times, improved user interfaces, and the application of artificial intelligence for tailored product recommendations.
“Some businesses in the online grocery industry have embraced omnichannel tactics, fusing their online and offline presences. Customers can pick between online and in-store purchasing using this strategy, providing flexibility and accommodating a range of tastes. With choices like click-and-collect services, it also contribute to the maintenance of a seamless shopping experience.”—opines our key market analyst.
Key Takeaways from the India Online Grocery Market Report:
- In 2018, the market stood at US$ 1.48 billion.
- In 2022, the market stood at US$ 2.0 billion.
- The snacks & beverages segment occupies nearly 28.90% of the market shares in 2023.
- Online payment method is highly preferred, occupying 67.9% of the market shares in 2023.
- North India leads the market in terms of sales and growth.
Recent Developments Observed by FMI:
- High-end grocery retailer Namdhari’s Agro Fresh Pvt. Ltd. announced in July 2023 that it is looking to raise between US$ 20 million and US$ 30 million as it attempts to grow beyond South India.
- In December 2022, BigBasket raised an extra US$ 200 million through financing, bringing its total value as a Tata Digital-owned online supermarket to US$ 3.2 billion. Tata Digital, which owns 64% of the Bengaluru-based company, was joined by additional investors in the financing round.
Note from the Leading Analysts:
“The Indian online grocery market is expected to experience growth in the next years due to changing customer preferences, technical developments, and a commitment to satisfying the needs of an expanding urban population. Online grocery platforms’ convenience, a wide range of products, and affordable prices correspond to Indian consumers’ shifting expectations. To take advantage of the growing prospects within this dynamic industry, market stakeholders are encouraged to keep investing in innovation and customer-centric solutions,” says an FMI analyst.
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India Online Grocery Market Segmentation
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
- East India
- West India
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