India: Online grocery market set to become $18.2 billion in size by 2024, says report

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According to a joint report by Bengaluru-based market consulting firm RedSeer and Bigbasket, the online grocery delivery market is set to become $18.2 billion in size by the year 2024.

The report titled ‘Online Grocery: What Brands Need to Know’ noted that growth will be slow for traditional retailers, while online grocery will grow rapidly driven by multiple factors like changing consumer preferences, digitisation, online services among others.

The study also found that demand for immunity boosters like lemon, comfort foods like noodles and cookies, and hygiene products such as sanitizers picked up after the pandemic while essentials remained strong.