Report Ocean introduces a fresh report examining the ‘India Online Grocery Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the India Online Grocery Market, which includes a full table of contents, over 100 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
The online grocery market in India is poised to reach INR 1310.93 Bn by 2026, expanding at an impressive CAGR of approximately 28.99% during the forecast period (2021 – 2026).
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Market Insights
Online grocery shopping has witnessed a remarkable surge in popularity in recent years in India. This transformation is attributed to shifting lifestyles, rapid urbanization, and increased internet access even in rural areas. The market experienced substantial growth in 2020 and 2021, driven by the COVID-19 pandemic, which compelled Indian households to embrace online grocery shopping due to lockdowns and social distancing measures. Key players in this market include Spencer’s Retail Limited, Grofers India Private Limited, Supermarket Grocery Supplies Private Limited (BigBasket), and Amazon India Limited.
Market Projections
In 2020, online grocery sales soared by about 60%, primarily driven by the COVID-19 pandemic. The pandemic prompted consumers, especially in urban areas, to turn to online platforms for their daily grocery needs to adhere to lockdown restrictions and maintain social distancing. Initiatives like ‘no-contact delivery’ and online payment options made online grocery shopping a convenient choice during the pandemic. The online grocery market is highly dynamic, with both domestic and international players vying to expand their market share and presence.
Segment Insights
The market is segmented based on payment methods and the types of products offered through online platforms. Online payment methods have witnessed tremendous growth over the past two years and are expected to continue expanding during the forecast period (2021 – 2026). This growth is driven by the preference for online payments, widespread smartphone usage, and deep internet penetration. In terms of regional segmentation, South India claimed the largest market share (34.6%) in revenue in 2020 and is projected to register the highest CAGR during the forecast period.
COVID-19 Impact Analysis
The year 2020 brought significant transformations to the online grocery market due to the COVID-19 pandemic. Social distancing measures prompted consumers to shift their focus to online grocery shopping, which they found convenient and safe during the pandemic. Several exporters and processors are now planning to increase their online presence as this channel has become more streamlined than offline retail. Surveys conducted between the past year and this year indicate that people prefer online shopping for its easy access to products, flexibility, and timely delivery. These factors are expected to continue driving the growth of online grocery shopping even after the pandemic subsides.
Reasons to Consider Purchasing the India Online Grocery Market Report:
Comprehensive Market Insights: Delve into the depths of the India Online Grocery Market Report to gain an all-encompassing and meticulous analysis of the market landscape. Uncover details such as market size, share, trends, and growth catalysts, which provide invaluable perspectives on both the present market scenario and its promising future prospects.
Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the India Online Grocery market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
Informed Investment Decision Making: Leverage the report’s critical information and data-driven insights to facilitate informed investment choices within the India Online Grocery market. Equipped with this knowledge, businesses can confidently allocate resources to avenues with the greatest potential for returns.
Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the India Online Grocery market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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