As of January 2024, Zomato-Blinkit dominated the market, while Zepto showed remarkable growth, increasing its market share from 15% in 2022 to about 30% in 2024. This reflects the dynamic nature of the quick commerce landscape in India, with brands continually vying for a larger share of the market. Quick commerce shows robust growth In 2023, the gross merchandise value (GMV) of quick commerce in the country surged to 2.8 billion U.S. dollars, a substantial increase from the previous year. This consistent growth in GMV underscores the escalating demand for quick commerce services in India, indicating a promising trajectory for the industry. Zepto's remarkable revenue growth During the financial year 2023, Zepto demonstrated unprecedented revenue growth, exceeding one thousand percent, while BigBasket lagged with a mere five percent growth. This substantial disparity highlights the significant impact of Zepto's rapid growth on the competitive landscape of quick commerce in India, particularly in the grocery segment. The emergence of such dynamic players has reshaped the market, intensified competition, and driven innovation within the industry.

In 2023, the Indian online food delivery market was worth 7.4 billion U.S. dollars. The delivery market was expected to grow and reach 24 billion U.S. dollars in 2026 .

Growth in the online food delivery sector post-COVID-19 Restricted mobility during the coronavirus pandemic and lockdowns led to the monumental growth in the online food delivery sector in the country. Restaurants and cafes, which did not offer delivery services earlier, had to provide or join food delivery services to stay afloat. However, to sustain this increased influx in revenue post lockdowns, delivery services came up with with customer retention strategies such as pay-later and subscription offers.

Demand for gig employees in online food delivery The rising demand for online food delivery services along with hikes in fuel prices and flat pay led to a shortage in personnel in the delivery sector. Furthermore, about 40 percent of the drivers in leading delivery services like Zomato and Swiggy would quit within a month of joining. Higher wages and transition to electric vehicles could pave the way for retaining gig employees.

As of 2024, the estimated revenue of quick commerce amounted to over three billion U.S. dollars in India. The revenue is likely to increase by about nine billion dollars by 2028. The addition of quick commerce has changed the e-commerce landscape, especially in the grocery segment. Surging demand drives market expansion The gross merchandise value (GMV) of quick commerce in India has shown consistent growth, reaching 2.8 billion in 2023. This rising trend in GMV highlights the growing consumer demand for swift delivery services, setting the stage for further market expansion. The sector's growth is further evidenced by the increasing number of monthly transacting users, which surpassed eight million, representing a 46 percent year-over-year increase. The competitive landscape evolves rapidly As the quick commerce market is evolving, competition among key players is intensifying. Zomato-Blinkit currently leads the market, but newer entrants like Zepto are making significant strides. Zepto's market share jumped from 15% in 2022 to approximately 30% in 2024, showcasing the dynamic nature of the industry. This shifting competitive landscape is driving innovation and improving service quality, ultimately benefiting consumers and contributing to the sector's overall growth trajectory.