India Quick E-Commerce (Quick Commerce) Market Size to Surpass US$ 19,932.5 Million by 2030 | Exhibiting a CAGR of 63%

BURLINGAME, Calif., Feb. 27, 2024 /PRNewswire/ -- CoherentMI published a report, titled, India Quick E-Commerce (Quick Commerce) Market was valued at US$ 652 Million in the year 2023 and is anticipated to reach US$ 19,932.5 Million by 2030, at a CAGR of 63% during forecast period 2023-2030.

Market Dynamics:

The India Quick E-Commerce (Quick Commerce) Market is experiencing rapid growth primarily due to the rising internet penetration rate in the country. With the increasing availability and affordability of smartphones, there has been a significant increase in the number of internet users, particularly in rural areas. This has led to an upsurge in online shopping activities, creating a favorable environment for the quick e-commerce market in India. Additionally, the convenience offered by quick e-commerce platforms, such as fast delivery and easy return policies, has further fueled the market growth. Moreover, the COVID-19 pandemic has also played a significant role in accelerating the adoption of quick e-commerce in India, as consumers prefer contactless shopping and home delivery services.

India Quick E-Commerce (Quick Commerce) Market Report Snapshot:

Market Takeaways:

• India Quick E-Commerce (Quick Commerce) Market Size is anticipated to witness a CAGR of 63% during the forecast period 2023-2030, owing to the increasing adoption of e-commerce platforms for quick and convenient shopping by consumers.
  
  
• On the basis of Product Category, the Fruits & Vegetables segment is expected to hold a dominant position in the India Quick E-Commerce (Quick Commerce) Market. This is primarily due to the increasing focus on health and wellness, leading to a high demand for fresh produce among consumers. Additionally, the growing popularity of online grocery shopping further contributes to the dominance of the Fruits & Vegetables segment.
  
  
• In terms of Order Value, the Below INR 500 segment is expected to dominate the India Quick E-Commerce (Quick Commerce) Market. This is driven by the price-conscious nature of Indian consumers, who prefer to shop for lower-priced items online. The convenience of quick delivery and competitive pricing offered by e-commerce platforms has further popularized this segment.
  
  
• Metropolitan Cities are expected to hold a dominant position in the India Quick E-Commerce (Quick Commerce) Market in terms of Location. This can be attributed to the higher population density and better access to e-commerce infrastructure in these cities. The availability of fast and reliable delivery services, along with a wide range of product options, makes metropolitan cities the key market for quick e-commerce.
  
  
• Key players operating in the India Quick E-Commerce (Quick Commerce) Market include Grofers, Milkbasket, DailyNinja, Natures Basket, Blinkit, Swiggy Instamart, Zepto, Dunzo, BigBasket, Spencer's Retail, More Retail, Aaram Shop, CityMall, Otipy, Myra, Bikaji Foods, Amazon Quick Commerce, Tata Neu Super App, JioMart, Flipkart Quick. These players play a significant role in the market by offering a diverse range of products, ensuring competitive pricing, and providing efficient delivery services. With the growing market opportunities, these key players are expected to expand their market presence and contribute to the overall growth of the India Quick E-Commerce (Quick Commerce) Market.

Market Trends:

Increased Focus on Hyperlocal Delivery:

One of the key trends observed in the India Quick E-Commerce (Quick Commerce) Market is the increased focus on hyperlocal delivery. With the aim to provide faster and more efficient delivery services, e-commerce platforms are partnering with local stores and vendors to establish a strong hyperlocal network. This enables them to deliver products to customers within a few hours, enhancing customer satisfaction and loyalty.

Growing Popularity of Social Commerce:

Another emerging trend in the India Quick E-Commerce (Quick Commerce) Market is the growing popularity of social commerce. Social media platforms, such as Instagram and Facebook, have become an integral part of people's lives, and businesses are leveraging these platforms to promote and sell their products. Quick e-commerce platforms are integrating social commerce features, such as buy buttons and shoppable posts, to enable users to purchase products directly from social media platforms, thus driving the market growth.

Recent Development: 

• In January 2022, Zepto expanded its product line by launching Coffee Café Day beverages on its rapid commerce app.
  
  
• In March 2022, Swiggy insta market began offering 15-30 minutes delivery of fruits and vegetables in Gurugram.

Read complete market research report, "India Quick E-Commerce (Quick Commerce) Market, By Product Category, By Order Value, By Location, By Time-slot, By Payment Mode, and other Segment Forecast 2023-2030", Published by CoherentMI.

Market Opportunities:

Growing Market Size and Increasing CAGR

The India Quick E-Commerce (Quick Commerce) Market is anticipated to witness a significant growth with a CAGR of 63% during the forecast period of 2023-2030. This rapid growth is primarily attributed to the increasing adoption of e-commerce platforms for quick and convenient shopping by consumers. As per market research, the market size is estimated to reach US$ 652 million in 2023. This emphasizes the immense potential for growth in the quick e-commerce sector in India.

Diverse Product Categories and Order Values

The India Quick E-Commerce (Quick Commerce) Market offers a wide range of product categories catering to diverse consumer needs. The dominating product category is Fruits & Vegetables, followed by Snacks & Beverages, Dairy & Bakery, Staples & Cooking Essentials, Meat & Seafood, Personal care, and Others. This diverse range of product categories provides ample opportunities for retailers and allows them to cater to the evolving preferences and demands of consumers.

The order value segment in the India Quick E-Commerce (Quick Commerce) Market is categorized into Below INR 500, INR 500-1000, INR 1000-1500, and above 1500. Currently, the dominating order value segment is Below INR 500. This reflects the trend of Indian consumers preferring affordable and budget-friendly options for online purchases, leading to the dominance of lower order value segments in the market.

In conclusion, the India Quick E-Commerce (Quick Commerce) Market presents significant market opportunities with its growing market size and increasing CAGR. With diverse product categories, order values, and location preferences, the market offers immense potential for retailers and key players to tap into the evolving consumer demands. The dominance of metropolitan cities and the presence of key players further contribute to the growth of the India Quick E-Commerce (Quick Commerce) Market.

India Quick E-Commerce (Quick Commerce) Market Segmentation:

• By Product Category
  • Fruits & Vegetables
  • Snacks & Beverages
  • Dairy & Bakery
  • Staples & Cooking Essentials
  • Meat & Seafood
  • Personal Care
  • Others
• By Order Value
  • Below INR 500
  • INR 500-1000
  • INR 1000-1500
  • Above INR 1500
• By Location
  • Metropolitan Cities
  • Tier 1 Cities
  • Tier 2 Cities
  • Rest of India
• By Time-slot
  • 30 minutes
  • 60 minutes
  • 90 minutes
  • More than 90 minutes
• By Payment Mode
  • Digital Wallets
  • Credit/Debit Cards
  • Cash on Delivery
  • UPI
  • Net Banking

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Top Questions Answered in this Report:

1. What factors are impeding the growth of the India Quick E-Commerce (Quick Commerce) Market?
2. What are the primary drivers fueling the growth of the India Quick E-Commerce (Quick Commerce) Market?
3. Which segment stands out as the leading component in the India Quick E-Commerce (Quick Commerce) Market?
4. Who are the key players actively participating in the India Quick E-Commerce (Quick Commerce) Market?
5. Which region is poised to take the lead in the India Quick E-Commerce (Quick Commerce) Market?
6. What is the projected CAGR for the India Quick E-Commerce (Quick Commerce) Market?

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