India's grocery market projected to reach $992 billion by FY30

New Delhi, June 26 (IANS) The domestic grocery market could reach about $992 billion by FY30, while roughly 91 per cent of purchases still continue to flow through stores (kiranas), leaving a large untapped digital opportunity in the country, a report said on Friday.

The report from Redseer highlighted that over 150 million Bharat households are expected to account for more than $1 trillion in annual consumption by FY30, with groceries their largest spending category, and that e‑commerce today captures only about 3 per cent of the grocery market.

It further projected that this would rise to roughly 7 per cent by CY30, which would represent one of the greatest demand unlocks in Indian retail history.

India’s overall grocery market is on its way from $658 billion to $992 billion by FY30, growing at over 8 per cent CAGR.

The next decade of grocery growth will not be won by extending metro strategies into Tier-2 and Tier-3 markets.

However, brands that succeed will redesign their portfolios, pricing and distribution around the realities of domestic consumers.