The recent “India Online Grocery Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report
The report on the “India Online Grocery Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.
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India Online Grocery Market Analysis and Growth Forecast:
The online grocery market is expected to reach INR 1310.93 Billion by 2026, expanding at a CAGR of 28.99% during the forecast period (2021-2026).
Ordering groceries online has become prevalent in the past few years, owing to change in lifestyle, rapid urbanization, and increased internet penetration in rural parts of India. The online grocery market grew significantly in 2020 and 2021, when the COVID-19-induced lockdowns and social distancing norms compelled most Indian households to opt for online grocery shopping. Some of the key market players are Spencer’s Retail Limited, Grofers India Private Limited, Supermarket Grocery Supplies Private Limited (BigBasket), and Amazon India Limited.
In 2020, online grocery sales registered a growth rate of about 60%. One of the key reasons behind this growth is the COVID-19 pandemic. It compelled consumers, especially those in urban areas, to use online platforms for daily grocery shopping in order to follow lockdown-related restrictions and maintain social-distancing. Initiatives such as no contact delivery and the ability to make payments online made it convenient for consumers to buy groceries from online platforms during the pandemic. The online grocery market is dynamic and both, domestic and foreign players compete to expand their market share and presence.
The market is segmented based on the payment methods and type of products delivered through the medium and regions. The online payment segment has grown immensely during the past two years and is expected to grow over the forecast period (2021-2026). This is due to the preference for online payments, high smartphone usage, and deep internet penetration. On the basis of regional segmentation, in 2020, south India held the largest share (34.6%) in terms of revenue and is expected to register the highest CAGR during the forecast period.
COVID-19 impact analysis:
In 2020, the market witnessed remarkable changes owing to COVID-19, resulting in sectorial consolidation and significant sales growth. The social distancing norms made consumers turn their focus toward online grocery shopping, considered convenient and safe amid the pandemic. Also, several exporters and processors plan to increase their presence in the online business during the forecast period as this marketing channel has become more streamlined than offline retail. Multiple surveys were conducted between last year and this year. It was observed that people preferred online shopping because of easy access to products, flexibility, and timeliness. These are expected to be the driving factors even after the pandemic.
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Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.
Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.
Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.
Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.
The Analysis Objectives of the Report are:
To determine the size of the Market by identifying its sub-segments.
To research the key players and analyze their growth strategies.
To assess the size and value of the Market based on key regions.
To analyze the Market in terms of growth trends, potential, and participation in the overall sector.
To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.
Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.
To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.
What is new in 2024?
– Major developments that can change the business landscape as well as market forecasts.
– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
– Coverage of new market players and change in the market share of existing players of the market.
– Updated financial information and product portfolios of players operating in the market.
– Updated market developments of the profiled players.
– Any new data points/analysis (frameworks) which was not present in the previous version of the report
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