Internet-smartphone users drive growth
The Indian Online Grocery Market is projected at US$3.6 billion by 2024 from around $569 million in 2018, says a report from ResearchAndMarkets.
The growth is driven by rising number of internet and smartphone users, said the report “India Online Grocery Market” on 27 Mar 2020.
Moreover, the increasing number of working women, technically advanced millennials and ultra-secured payment infrastructure are the major drivers for online grocery market in India.
Packaged Food & Beverages segment holds the largest market share, while the Personal Care and Household Products segments are expected to grow at the fastest pace in the coming years.
Additionally, due to the strong investments on offering best customer service, heavy discounts on online purchases, high product quality and fast delivery methods, online grocery market in India is forecast to continue growing during the forecast period.
Some of the major players operating the Indian Online Grocery Market include Innovative Retail Concepts Pvt Ltd (Bigbasket), Grofers India Private Limited (Grofers), Amazon Retail India Pvt Ltd (Amazon Pantry & Amazon Now) and Paytm E-Commerce Pvt Ltd (Paytm Mall) among others. fiinews.com
