Online Grocery Market in India to Grow at 55% Through 2021: TechSci Research Report

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BURNABY, Canada, March 1, 2016 /PRNewswire/ --

Growing e-commerce industry and increasing internet penetration coupled with rising digital awareness to increase online grocery sales in India through 2021 

According to a recently released TechSci Research report, "India Online Grocery Market By Product Type, Consumer Behaviour, Competition Forecast and Opportunities, 2011 - 2021", the online grocery market in India is projected to grow at a CAGR of 55% during 2016 - 2021. Easy availability of a wide product range at one place and improving logistic services offered by companies are anticipated to fuel the country's online grocery market over the next five years. With growing e-commerce market, increasing consumer awareness, rising disposable income and advent of various technological advancements over the last few years. Over the last couple of years, online grocery companies operating in India have been spending heavily on digital marketing to increase their visibility and consumer awareness.

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India has a large base of young consumers who form majority of the workforce and due to time constraints barely get time for grocery shopping which is increasing adoption of online grocery stores especially in metro cities. Consumers in urban centers like Delhi, Mumbai & Bangalore are driving substantial growth in India online grocery market, a large chunk of Indian consumers, residing in tier II and tier III cities, still remain untapped due to lack of confidence, low awareness and price conscious behaviour. To remain competitive in the market, an increasing number of e-grocers are strategically targeting these markets to increase their footprints in the country.

"BigBasket, Grofers, and PaperTap are the leading players in India online grocery market. These players are anticipated to maintain their dominance in the market through 2021. Few companies are expanding their operations by partnering with local retailers in numerous Indian cities, while others are adopting inventory business model to address the growing demand for everyday consumer products across India.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"India Online Grocery Market By Product Type, Consumer Behaviour, Competition Forecast and Opportunities, 2011 - 2021", has analyzed the potential of India online grocery market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.

About TechSci Research: 

TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.

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SOURCE TechSci Research