The Indian Consumer at 2030 (Fireside Ventures)

Summary

• By 2030, India's retail market is poised to touch $1.6 trillion.p.3
• India will have 1.1 billion internet users, over 400 million online shoppers and nearly 70% smartphone penetration in 5 years' time.p.3
• General trade held a 91% market share in 2014 and is expected to fall to 70% by 2030.p.3
• India I is the 15% of the population driving 35% of retail and 60% of branded purchases.p.3
• Brands will account for ~45% of the overall retail pie by FY 2030, a ~$730 Bn opportunity, and new-age brands are growing at 2-3x of traditional brands.p.6
• By 2030, India will have ~400M Gen Z and ~350M Millennials.p.12
• Gen Z will account for ~$1.5Tn of spends by 2030.p.34

Key insights

1. The findings draw on 25+ consumer studies, 1500+ founders and 100+ ecosystem leaders.p.4
2. India is expected to grow ~1.8X of China and ~2.4X of USA from FY 2024 to FY 2030.p.5
3. Only 1 in 10 Indians lives in a pin code with more than 5 organized retail stores.p.16
4. Men's skincare routine Google searches in India grew 850% in 5 years.p.41
5. Searches for Korean sunscreen and glass skin have grown 150% since 2019.p.43
6. Alternative accommodations are growing 25% YoY.p.25
7. 4 in 5 Gen Zs see protein as essential to daily intake, with protein snacks growing at 15% CAGR.p.46
8. Gen Z is the largest cohort within India's population, constituting over 25% of the population share.p.33