Q-Commerce Industry In India - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Q-Commerce Industry In India - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Q-Commerce Industry In India Market size is estimated at USD 3.34 billion in 2024, and is expected to reach USD 9.95 billion by 2029, growing at a CAGR of greater than 4.5% during the forecast period (2024-2029).

In India, the quick commerce market is witnessing a significant growth rate because it provides consumers faster shopping experience than any other e-commerce platform. The reason for the increased adoption of quick commerce platforms is because of the fast and convenient delivery service. The rising urbanization and the trend of online shopping also contribute to the growth of the quick commerce industry in India.

Key Highlights

• During the COVID-19 pandemic, quick commerce experienced tremendous growth and became a part of people’s busy lifestyles. After the pandemic, the market is still experiencing increased demand in food and retail segments due to convenient on-demand delivery and digital offerings.
• Many brands like Roofers, Zepto, Zomato, Swiggy, Big Basket, etc., grew by integrating quick commerce as a part of the business.
• There has been an increased purchasing rate in metro and Tier I cities in India because of the fastest delivery of groceries and other products, driving the quick commerce market in the country.
• Since the market is growing gradually, companies are using geographical mapping technologies to open dark stores (a type of delivery model for quick commerce), which helps in delivering more than 60% of orders in 40 minutes.

Initiatives like these by the players in the market boost the growth rate of the quick commerce market in India.

India Quick Commerce Market Trends

Rising Entry of Startups into the Market

• The adoption of quick commerce platforms in India is increasing to meet the needs of consumers for fast delivery of products within 10-30 minutes.
• Many Q-commerce startups, such as Swiggy, Zepto, Blinkit, BB Now, etc., have entered the quick delivery ecosystem to expand their customer base. These startups attract huge investments to expand their services widely in the Indian market.
• Hence, the rising number of startups, because of the increasing demand for quick delivery, is driving the Indian quick commerce market's growth.

Growing Need for Instant Delivery Driving the Market

• Quick commerce is one of the fastest-growing e-commerce platforms that enhances convenience through the fast delivery of products.
• The factor that attracts customers to the instant delivery platform is the delivery of products to doorsteps within 10-30 minutes.
• The COVID-19 pandemic made consumers change their purchasing behavior and increased the use of online platforms that offer fast delivery and comfort to customers.
• Therefore, the need for instant delivery is driving the growth of the quick commerce market in India.

India Quick Commerce Industry Overview

The Indian quick commerce market is competitive. Consumers are increasingly shifting toward quick commerce because of factors such as fast delivery, price, discounts & offers, wide product assortment, availability, and ease of payment. The major players in the market include Swiggy Instamart, Blinkit, Dunzo, Big Basket, and Zepto. These players hold more than 80% market share.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support