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 RESEARCH ABSTRACT

India’s economic growth is driven by significant advancements in Artificial Intelligence,

Automobile, Energy, FMCG, and Quick Commerce sectors. The AI industry is expanding
rapidly, with the global market projected to reach $1.8 trillion by 2030, supported by
India’s surge in innovation and adoption. In automobiles, India is becoming a major
manufacturing and electric vehicle hub, as the global market climbs toward $5 trillion.

The energy sector is transforming, with India’s installed power capacity expected to
nearly double by 2030 through renewables, grid modernization, and green hydrogen.
FMCG benefits from rising rural demand, digital retail growth, and health-focused
products, maintaining steady expansion. Meanwhile, Q-Commerce is booming, fueled
by urbanization, digital payments, and instant delivery models that expand beyond
groceries.

Despite these opportunities, challenges persist, including infrastructural gaps,

regulatory hurdles, and talent shortages. However, supportive government policies, a
strong tech ecosystem, and investment in skills position India’s key industries for
sustainable growth, innovation, and global competitiveness over the coming decade.
 ABOUT GRANDEUR

Grandeur – The Consulting Cell of Shaheed Sukhdev College of Business Studies (SSCBS), established with a vision to bridge the gap
between academic excellence and corporate demands. Functioning as a student-centric organization, Grandeur is dedicated to
nurturing aspiring leaders and facilitating professional development by offering distinctive opportunities for learning and growth in
consulting and related business domains.

Through a variety of initiatives, Grandeur provides its members with practical exposure by engaging them in live consulting projects
with esteemed companies and startups, thus broadening their experience and enhancing their skill sets.

Beyond project involvement, Grandeur conducts exclusive sessions featuring industry experts and corporate leaders to offer
insights into the evolving business landscape. Regular workshops are organized to hone critical skills such as problem-solving,
analytical thinking, and strategic communication.

Annually, Grandeur hosts flagship events and competitions that challenge participants’ consulting acumen and business
understanding, attracting some of the brightest talent from across SSCBS and beyond. These platforms foster a competitive yet
collaborative environment, preparing members to excel in the corporate world.

Maanika Bhardwaj – President

Krittika Maheshwari – Vice President
 ACKNOWLEDGEMENT

We extend our gratitude to all individuals who have contributed to the Industry Primer, which serves as a comprehensive
preparation resource for placement interviews and case solving.

We would like to acknowledge the efforts of Maanika Bhardwaj, Krittika Maheshwari, Atharv Kashyap, Kartik Bansal, Kritika Goel,
Lakshay Narang, Manya Bassi, Sarthak Talwar, Sambhav Jain, Shrivats Tiwari, Akshat Soni, Arshia Gupta, Aryan Das, Avik Jain, Daksh
Aluria, Kabir Upneja, Kamya Gulyani, Kanchi Rai, Krish Mittal, Navya Mahlotra, Yash Khanwani.

Their meticulous analysis offers readers an in-depth and clear overview of key industries, serving as an invaluable resource for
thorough preparation. We extend our sincere gratitude to all contributors for their commitment and diligent efforts in producing
this detailed document, ensuring it is both comprehensive and easily accessible to all readers.
TABLE OF CONTENTS

S. NO. CONTENT PAGE NO.

1. Artificial Intelligence Industry 1

2. Automobile Industry 5

3. Energy Industry 9

4. FMCG Industry 13

5. Q – Commerce Industry 17
 ARTIFICIAL INTELLIGENCE: INDUSTRY OVERVIEW
Understanding the AI industry through its growth trajectory, historical evolution, key growth drivers, major industry players, and foundational technologies

MARKET SIZE AND GROWTH BRIEF HISTORY OF AI

The global AI market is set to grow from $391B in 2024 to $1800B It may sometimes feel like AI is a recent development in technology. After all, it’s only become
by 2030, at a 35.9% CAGR and 4.6x scale-up. mainstream to use in the last several years. In reality, the groundwork for AI began in the early 1900s

1997 Neural networks 2020

In USD (billion) 1800 1950 AI gains traction in
AI Beats Human win ImageNet, Generative AI
35.9% Turing’s Test businesses via rule-
pushing AI into the Revolution
based systems. at Chess
CAGR mainstream.

391 4.6X Alan Turing IBM’s Deep Blue Models like ChatGPT
1980s 2012 and DALL·E change
proposes a test to defeats world
Growth assess machine
Expert Systems
champion Garry
Deep Learning how humans interact
Rise Breakthrough with machines
2024 2030 intelligence. Kasparov.

GROWTH DRIVERS AND IMPACT COMPETITOR LANDSCAPE COMPONENTS OF AI

Narrow
Low High Advanced ML Algorithms
New Technologies
Low High Natural Language Processing
Growth of Cloud Computing
Low High
Computer Vision Technologies
Improved Customer Experience Mass Market Luxury
• Robotics & Intelligent Agents
Low High
Insights and Predictive Analytics Expert Systems Using Rule-Based
Low High
Automation Deep Learning Architectures
Diverse

Source: Statista, Morgan Stanley Report, Grand View Research, Team Analysis 1
 ARTIFICIAL INTELLIGENCE: EVOLUTION & KEY FORCES
Analyzing the Evolution and Competitive Dynamics of the Artificial Intelligence Industry

EVOLUTION OF THE INDUSTRY

Foundations of AI Machine Learning Boom Deep Learning Era AI Democratization General AI Frontier
Date: 1950s-1980s Date: 2000s-2010s Date: 2010s-2020s Date: 2020s-2030s Date: 2030s+

Laid symbolic logic Data-driven approaches Neural networks advanced Accessible AI tools spread Pursuing human-like
groundwork for intelligent revived AI with statistical AI capabilities in vision, adoption across industries, reasoning & autonomy with
systems to solve problems models and big data language, and prediction raising ethical questions next generation systems

PORTER’S FIVE FORCES ANALYSIS

Threat of New Entrants Buyer’s Bargaining Power Supplier’s Bargaining Power Threat of Substitutes Existing Competitors’ Rivalry

Brand name High Demand Dependence on Human Emotions Fast innovation

hard to build for Value GPUs, chips often preferred changes

High costs limit Many alternatives Limited AI talent Cost & trust Fierce Big Tech
scalability available supply barriers Battles

Moderate Moderate High Low Very High

Source: Morgan Stanley Report, Grand View Research, Team Analysis 2

 ARTIFICIAL INTELLIGENCE: FINANCIAL SNAPSHOT
Evaluating the Financial Landscape of AI Through Case Studies, Strategic Investments, and Emerging Market Trends

PERPLEXITY: CASE STUDY

Prominent investors:
Perplexity AI is an artificial intelligence powered web search tool which gives answers
Amazon Web Services, Nvidia, SoftBank Group
to the queries of users and completes other content generation tasks
along with others

Perplexity AI Inc., founded in 2022 by Indian-origin entrepreneur Aravind

Media Partnership:
Srinivas, is based in San Francisco, California
Basic The Le Monde–Perplexity partnership is a
Information forward-looking alliance combining trusted
Perplexity stands out by citing web sources for credibility. It's mainly used for journalism with advanced AI technology
research, summarization, content creation, translation, and data analysis
AI Partnership:
As of 2025, Perplexity AI receives over 100 million weekly requests and recorded 155 Perplexity AI partnered with Motorola to
million visits in March. It is currently valued at $14 billion bring its artificial intelligence search engine
technology directly into its smartphones

RECENT MERGERS AND ACQUISITIONS INSIGHTS

AI spend is set to rise dramatically, but we see a $1.1
The AI partnership between BlackRock, Global Infrastructure Partners, Microsoft and a
trillion revenue opportunity as early as 2028, with
leading AI investor from the Middle East, announced in September 2024, to fund up to $100bn
contribution margins rising to 67% by 2028, according
to a report by Morgan Stanley
SoftBank acquired Ampere Computing, a developer of energy-efficient Arm-based processors
optimized for cloud and AI workloads. The acquisition expands SoftBank’s AI infrastructure 83% of companies claim that AI is a top priority in
investments and is set to close in the second half of 2025 their business plans, while 48% of businesses use
some form of AI to utilize big data effectively
The ‘Stargate’ joint venture between OpenAI, SoftBank and Oracle, announced in January
2025, to fund up to $500bn
38% of medical providers use computers as part of
their diagnosis
Source: Statista, Morgan Stanley Report, Grand View Research, Team Analysis 3
 ARTIFICIAL INTELLIGENCE: TRENDS AND GLOBAL POSITIONING
Exploring Global AI Trends, Future Outlook, and India’s Strategic Position in the Evolving Market Landscape

MARKET TRENDS GENERATIVE AI

Industry Forecasts Sectoral Penetration AI in 2030 AI that creates new content such as text, images, audio, and
code using machine learning models
Powerful multimodal models Democratizat Vernacular AI tools,
Healthcare: Imaging
and no-code AI
and domain-specific LLMs analysis, robotic surgery ion of AI Market Size, Generative AI -
builders.
Worldwide (USD Billion)
AI tools via cloud (AIaaS) and Retail: Fraud detection Human-AI AI as a co-creator, 500
and robo-advisors aiding decision-
local processing on devices Collaboration 400
making
300
Self-learning systems improve Education: Customized Sustainable Energy-efficient
models and green 200
without full retraining learning; real-time feedback AI
computing. 100

0
REGIONAL ANALYSIS – INDIAN VS GLOBAL 2025 2031

Generative AI Use Cases

Revenue (2024)(US $M) Forecast (2030)(US $M) CAGR, 2025-2030
Improve customer experiences
$16,246.7 $184,464.3 48.8% Enhance customer experiences through personalised
support, proactive engagement, chatbots and virtual
$184,464.3
Indian AI market, 2023-2030 Market Comparison Highlights assistants
(US$M) Boost employee productivity
➢ India held 5.2% of the global AI market revenue in
2023 Empower your teams with AI-driven tools for
➢ The U.S. is projected to lead global AI revenue by automated report generation, code creation, and
2030. smart content development
➢ China is expected to top Asia Pacific's AI market by
Accelerate process optimization
$10,248.7 2030
Streamline operations with intelligent data
➢ South Korea is the fastest-growing AI market in Asia
augmentation, automated document processing,
Pacific
2023 2024 2025 2026 2027 2028 2029 2030 and end-to-end supply chain optimisation.
Source: Grand View Research, CXOToday, GlobeNewswire, Team Analysis 4
 AUTOMOBILE: INDUSTRY OVERVIEW
Analyzing the Automobile Industry Landscape Through Market Growth, Segment Breakdown, Consumer Trends, and Competitive Positioning

MARKET SIZE AND GROWTH KEY SEGMENTS

The market size of the US automobile industry is ₹78 lakh crore,
followed by China (₹48 lakh crore) and India (₹22 lakh crore). Automobile Sector
In USD (billion) Passenger Commercial Three Two
247.4
35.9% Vehicles Vehicles Wheeler Wheeler
CAGR Light Commercial Passenger Carriers Mopeds and
Passenger Cars
Vehicles Electric Scooters
121.5
Utility Vehicles Medium & Heavy Goods Carriers Motorcycles Two Wheelers
4.6X Passenger Vehicles
Multi-Purpose
Growth Vehicles Three Wheelers
2024 2033
GROWTH DRIVERS AND IMPACT COMPETITOR LANDSCAPE INCOME – WISE CUSTOMER BREAKDOWN
Low High Narrow
Mass Market :Price-sensitive first-time buyers
Rising Disposable Incomes <12 needing low EMI, fuel efficiency, & basic safety
Lakhs
Low High Prefer small hatchbacks, used cars, & 2-wheelers
Technological Advancements
Value Aspirers : Young families & professionals
Low High 12-30 seeking style, space, and affordable tech, Buy
Focus on Safety Regulations Mass Market Luxury Lakhs
compact SUVs, mid-size sedans, & budget EVs
Low High
Government Incentives Affluent & Luxury: Status-driven, tech-savvy
30+ consumers prioritizing brand & innovation
Low High Lakhs
want premium SUVs, luxury, & imported EVs
Changing Customer Preference
Diverse

Source: Statista, IBEF, Team Analysis 5

 AUTOMOBILE: SUPPLY CHAIN & COMPETITIVE FORCES
Analyzing Competitive Dynamics and Supply Chain Flow in the Automotive Sector

SUPPLY CHAIN

Raw Material Component Vehicle Assembly Logistics & Dealerships & Aftermarket
Sourcing Manufacturing by OEMs Distribution Network Retail Network Services

PORTER’S FIVE FORCES ANALYSIS

Threat Of New Entrants Buyer’s Bargaining Power Supplier’s Bargaining Power Threat Of Substitutes Existing Competitors’ Rivalry

Extensive Capital Large Number of Multiple Suppliers Public Transport and Strong Domestic
Investment Buyers Lower Dependence Ride-Sharing and Global Players

Superior Brand Wide Options Across "Make in India" and Growth of E-Scooters Frequent Price
Equity Value Price Points PLI Incentives and Bicycles Competition

Established Price Sensitive Vital Role in the Low Product EV Brands Disrupting
dealership networks Customers Value Chain Differentiation Market Loyalty

Very Low High Low Very High High

Source: Invest India, McKinsey Report, Team Analysis 6

 AUTOMOBILE: FINANCIAL SNAPSHOT
Evaluating the Financial Landscape of Automobile Industry Through Understanding Ratios, Strategic Investments, and Emerging Market Trends

KEY RATIOS VALUATION

1. Growth Ratios 2. Profitability Ratios 3. Efficiency Ratios Global automotive market size, valued at $3.5 trillion in 2023, is
forecasted to exceed $5 trillion by 2030, growing at a ~5–6% CAGR
Rev Growth Rate 5-8% annually Gross Margin 15-25% Customer $500–$1,500+
Sales Growth 2-4% annually Acquisition Cost EV and AV startups are primarily valued on revenue multiples and
Operating Margin 5-10%
Customer Total Addressable Market (TAM) potential, while established OEMs
EV Sales Growth 30-40% CAGR EBITDA Margin 10-15% LTV:CAC ≥ 5:1 rely on Discounted Cash Flow (DCF) and EBITDA-based valuation
Lifetime Value
Recurring rev from models
Expanding Net Profit Margin 3-8%
connected services Runway 18-36 Months
EV pioneers (e.g., Tesla, Rivian) command premium multiples, while
traditional automakers trade at conservative multiples
4. Retention & Engagement Ratios 5. Valuation Ratios
India: Maruti Suzuki, Tata Motors, M&M,
Brand Loyalty Rate 50-70% EV/Revenue 0.5x-2.5x Top Valued Bajaj Auto
Connected Services Renewal Rate >70% EV/EBITDA 6x-12x Companies Global: Tesla, Toyota, Xiaomi, BYD

RECENT MERGERS AND ACQUISITIONS INSIGHTS

The auto industry is evolving into a tech-driven mobility
Volkswagen acquired Horizon Robotics (October 2024), strengthening its ecosystem, challenged by supply chain issues, raw material
volatility, and rising tech competition. Here's a SWOT analysis of
autonomous driving and AI capabilities for EVs in China the sector:
STRENGTHS WEAKNESSES
Stellantis partnered with Archer Aviation (January 2025), investing in electric Strong brands, innovation in EVs High costs, legacy systems,
and connectivity, economies thin margins, slow innovation.
vertical takeoff and landing (eVTOL) vehicles to diversify into urban air mobility of scale. SWOT
THREATS
Analysis OPPORTUNITIES
Supply chain risks, strict EV boom, emerging markets,
Hyundai Motor Group and LG Energy Solution announced a $4 billion joint regulations, rising competition, mobility services, green tech.
venture for a U.S.-based EV battery plant, set to operationalize by 2026 economic slowdown

Source: IBEF, Bloomberg, McKinsey, dcmsme, Traxcn, Team Analysis 7

 AUTOMOBILE: MARKET TRENDS & GLOBAL POSITIONING
Exploring Key Market Trends, Global Positioning, and Innovation in the Automobile Industry

MARKET TRENDS UNIQUE TRENDS

OEMs like Tata Motors, Maruti
Suzuki, and Renault are partnering
23% of all vehicles to be EV’S Flex-Fuel and
with financiers for embedded, India's EV market is set to reach Bio-Energy Vehicles
flexible vehicle loans $7.09B by 2025 and $50B by 2030
EVs shifting from premium to
Mass-Market
Mobility-as-a-Service (MaaS) mass market, making electric
Electrification
India’s luxury car market to exceed 50K mobility more accessible
MaaS market to reach $6.5T by 2035
units by 2025 & reach 100K by 2030,
Growing interest among 18-34-year- Increased Demand Economic uncertainty is driving
driven by EV demand & local production
olds in flexible car subscriptions and for Used Cars increased demand for used cars,
expansions by Mercedes, BMW, Audi etc
ride-sharing instead of ownership supported by data-driven platforms.

ANALYSIS - INDIAN VS. GLOBAL INNOVATION PIPELINE

Production (Mn Idea Generation And Feasibility Analysis
Manufacturing Hubs of India Country YoY Growth Market Share
Units) • Gather ideas from market trends and customers
• Quickly assess technical, financial, and regulatory
Global Total 92.5 -1.1% 100%
viability to filter promising concepts
China 31.28 +3.7% 33.8%
United States 10.56 -0.5% 11.4% Development And Testing
• Develop prototypes and pilot smart safety tech.
Japan 8.23 -8.6% 8.9%
• Validate through testing and obtain regulatory
India 6.01 +2.8% 6.5% approvals
Mexico 4.20 +5.0% 4.5%
Production Launch And Feedback
South Korea 4.13 -2.8% 4.5% • Scale manufacturing using localized supply chains and
Global car sales hit 74.6 million in 2024, with China leading at Industry 4.0.
31%. By 2030, emerging markets like India could add 10+ million • Launch with marketing support and refine through
sales yearly, as EVs surpass 40% of global demand feedback

Source: Invest India, IBEF, McKinsey Report, Team Analysis 8

 ENERGY SECTOR: INDUSTRY OVERVIEW
Providing a comprehensive overview of energy sector covering market growth, key segments, growth drivers, leading players, and global trade position

MARKET SIZE AND GROWTH KEY SEGMENTS

India's installed power generation capacity is expected to increase
from 489 GW in 2024 to approximately 817.5 GW by 2030,
reflecting a growth of 328.5 GW at a CAGR of 8.8%
In USD (billion)
400 8.8 %
CAGR Thermal Energy Wind Energy Solar Energy Nuclear Energy Hydropower
245 Capacity: 242 GW Capacity: 52 GW Capacity : 116 GW Capacity: 7 GW Capacity: 50 GW

Core to India’s High potential in Low costs and Stable, clean base- Renewable and
1.6x energy, but under coastal regions, widespread adoption load power; limited reliable, but
Growth pressure from backed by drive the fastest- by high costs and seasonally limited
cleaner alternatives government support growing segment gestation periods and eco-sensitive
2023 2030
GROWTH DRIVERS AND IMPACT COMPETITOR LANDSCAPE INDIA’S POSITION GLOBALLY
High Narrow Crude Imports
Low Top Suppliers
Government Policies & Targets 4.84 Mn
Low High barrels per day
Urbanization & Power Demand
Top Suppliers
Low High LNG Imports
Renewable Integration & Storage Mass Market Niche 1.1 Tcf
Low High
Grid Digitization & Smart Meters
Petroleum Exports Electricity Exports
Low High
Green Hydrogen & Clean Tech
$70 Bn 21.5 Bn kwh
Diverse

Source: Statista, Ministry of Power, Bloomberg, Team Analysis 9

 ENERGY SECTOR: KEY PLAYERS & TRENDS
Mapping India’s Evolving Energy Sector through Key Players, Government Initiatives, and Emerging Technology Trends

KEY PLAYERS GOVERNMENT MISSIONS & INITIATIVES

Renewables Oil And Gas Power Generation National Green Hydrogen Mission: ₹19,744 Cr
outlay to make India a global hub.
Focus on production, storage, and export to
lead the global hydrogen economy

PM-KUSUM Scheme: Solar pumps for farmers,

targeting 30.8 GW by 2026.
Empowering rural India with clean energy and
reduced diesel dependence
Transmission Distribution
Green Energy Corridor Phase II: Grid upgrades
to integrate 20 GW renewables.
Ensures smooth transmission and reduces
State DISCOMs curtailment of green power

RECENT TRENDS
2.3 GW added; wind- Remains dominant , NTPC, Reliance, IOCL
solar hybrids growing in modernisation of old launching pilot projects;
Gujarat & TN; offshore plants; Ultra Mega Power focus on electrolyser;
Solar wind in pipeline Hydro Projects revived Oil & Gas policy support

12 GW added in FY24; Wind Pumped storage revival Thermal CGD networks expanding; Green Hydrogen
rooftop adoption rising via in Himachal & OALP boosting domestic
subsidies; PLI boosts local Uttarakhand; small hydro exploration; LNG
manufacturing incentives renewed infrastructure growing
Source: Bain Report, Bloomberg, Economic Times, Team Analysis 10
 ENERGY SECTOR: VALUE CHAIN & KEY INSIGHTS
India’s Energy Sector Powers Ahead with Clean Energy Investments, Strategic Acquisitions, and Policy-Driven Growth

VALUE CHAIN

Resource Power Generation Grid Transmission & Distribution & Last- Energy Retail & Demand Optimization
Procurement & Energy System Operations Mile Delivery Market Mechanisms & Prosumer
Conversion Integration

RECENT MERGERS AND ACQUISITIONS INSIGHTS

The Indian energy sector is rapidly transforming, driven by clean
Brookfield (Apr 2025) acquired a majority stake in Leap Green energy targets, policy reforms, and rising demand. With a goal of
Energy for $420M to boost its clean energy portfolio in India 500 GW non fossil capacity by 2030, investments in renewables,
green hydrogen, and storage are accelerating. Digitalization,
evolving markets, and ESG priorities are reshaping the
NTPC Green Energy & Indian Oil (May 2025) formed a JV to develop landscape.
10+ GW renewable capacity by 2032, focusing on green hydrogen STRENGTHS WEAKNESSES
Robust government backing, Financially stressed DISCOMs,
increasing renewable capacity, and high transmission losses, and
Adani Green Energy acquired SB Energy India (2025) in a landmark rising energy demand
SWOT project execution delays
$3.5B deal, one of India’s largest renewable acquisitions SWOT
Analysis
THREATS Analysis OPPORTUNITIES
Ambitious 500 GW non fossil Volatile fossil fuel prices,
Shell India acquired Sprng Energy (RE firm with 2 GW+ assets) from target, green hydrogen push, and climate related disruptions,
strong investor interest
Actis for $1.55 billion to grow its clean energy footprint in India and regulatory uncertainties.

Source: Bain Report, Ministry of Power, Economic Times, Team Analysis 11

 ENERGY INDUSTRY: FUTURE PROSPECTS
The energy industry prepares for a green future as demand rises and policy goals intensify

GLOBAL TRENDS LEADING ENERGY SOURCES

According to the World Energy Outlook
Electricity consumption Large variations in investment (WEO) report, low emission sources are
Economic growth in the emerging markets The rapidly growing Asia-Pacific region expected to generate more than half of the
and electrification will drive the bulk of will capture about 46% of the total world’s electricity before 2030
new electricity consumption, dampened investment, Europe another 26% and
by increasing energy efficiency efforts North America 16%
Demand for all three fossil fuels i.e. coal, oil
and gas, is still projected to peak by the end
of the decade
Demand of Natural Gas Emissions reduction
In emerging markets, rapid demand growth Mainly driven by coal retirements in Europe
will drive more additions of conventional and North America, a slowdown in coal Clean energy is entering the energy system
resources, mainly natural gas. Over 2024- generation in China, and the widespread at an unprecedented rate, but deployment
35, natural gas will add 47 GW/year penetration of clean energies is far from uniform across technologies and
markets

CHALLENGES AHEAD INDIA’S AIM

Short term goal (By 2030)
Rising geopolitical Capital and Policy and regulatory India targets to increase renewable energy capacity to 500
tensions investment gaps coherence GW, which will reduce carbon intensity by 45% and will
meet 50% of its energy needs using non fossil sources

Long-term goal (By 2070)

Infrastructure and Energy security Growing demand India aims to achieve net zero carbon emissions, supported
delivery bottlenecks constraints pressure by solar and wind infrastructure expansion, energy
efficiency initiatives, and carbon capture technologies

Source: Bain Report, World Energy Outlook (IEA), Economic Times, Team Analysis 12
 FMCG: INDUSTRY OVERVIEW
Breaking Down the FMCG Ecosystem: Understanding Scope, Types, and Evolution

MARKET SIZE AND GROWTH KEY SEGMENTS

The global FMCG Industry is set to grow from $14 tn in 2025 to $18
tn by 2030, at a 5.44% CAGR. The Indian Market Size is $245.39 bn FMCG SEGMENTS
In USD (billion) 18 Food & OTC (Over-the- Tobacco &
Personal Care
14 5.44% Beverages (F&B) Counter) Alcohol
CAGR Packaged Foods Health Supplements
Cigarettes & Skincare &
Tobacco Products Haircare
Food & Beverages
Pain Relievers & Oral Care &
Dairy Products Beer, Wine & Spirits
Indian Antiseptics Hygiene OTC
Market- Snacks & Beverages Tobacco & Alcoho
$245.39 bn Personal Care
2024 2034
GROWTH DRIVERS AND IMPACT COMPETITOR LANDSCAPE INCOME – WISE CUSTOMER BREAKDOWN
Low High Narrow
Affluent Elites
Rising Disposable Incomes High-income urban consumers who prefer
Low High premium, health-focused & branded products
Urbanization
Value-Driven Households
Low High
Middle-class families in Tier 1 & 2 cities who
E-commerce Penetration Mass Market Luxury seek reliable brands with good value and variety
Low High
Rural Market Expansion
Budget-Conscious Masses
Low High Lower-income and rural consumers prioritise
Changing Customer Preference affordability, smaller packs & everyday essentials
Diverse

Source: Statista, IBEF, Invest India, Team Analysis 13

 FMCG: SUPPLY CHAIN & COMPETITIVE FORCES
Tracing the End-to-End FMCG Supply Chain and Porter’s Forces Driving Competition

SUPPLY CHAIN

Raw Material Manufacturing and Inventory Distribution & Retail & Sales Demand
Procurement Production Management Logistics Channels Forecasting

PORTER’S FIVE FORCES ANALYSIS

Threat Of New Entrants Buyer’s Bargaining Power Supplier’s Bargaining Power Threat Of Substitutes Existing Competitors’ Rivalry

Easy Small-Scale Many Strong

Many Choices Many Suppliers Local alternatives
Entry Players

Tough Distribution Standard Inputs Private labels Low Switching

Price Sensitive
Setup Cost

Changing Heavy Ad Spend

Strong Brand Loyalty Retail Dominance Bulk Buying Power
preferences

Moderate High Low High High

Source: Economic Times, Team Analysis 14

 FMCG: FINANCIAL SNAPSHOT
Decoding Key Financial Metrics, M&A Activity, and Competitive Positioning

KEY RATIOS VALUATION

1. Growth Ratios 2. Profitability Ratios 3. Efficiency Ratios FMCG is India’s 4th largest sector, contributing ~10% to GDP
Customer and employing over 10 million people
Rev Growth Rate 7-9% annually Gross Margin 30-60% $10–$1,100
Acquisition Cost
Sales Growth 27.9% annually Operating Margin 10-20% Market size was INR 4.8T in March 2023, projected to grow at
Customer 27.9% CAGR, reaching INR 50.3T by 2027
Revenue FY23 INR 2,272 billion EBITDA Margin 12-18% Lifetime Value LTV:CAC ≥ 3:1- 6:1
Digital Growing Net Profit Margin 5-15% Cash Conversion In 2023, urban areas drove 65% of sales, while rural demand
Contribution 30-90 Days
Rapidly via D2C Cycle (35%) is expected to rise with good harvest & government
suppor
4. Retention & Engagement Ratios 5. Valuation Ratios
India: HUL, ITC Limited, Nestlé India,
Brand Loyalty Rate 60-80% EV/Revenue 7.99x Top Valued Britannia Industries, GCPL
32.79x
Companies
Repeat Purchase Rate 40-70% EV/EBITDA Global: The Coca-Cola Co., PepsiCo, P&G

RECENT MERGERS AND ACQUISITIONS INSIGHTS

The FMCG sector is evolving in response to digital retail and
Singapore’s firm Temasek (March 2025) has secured a deal to acquire 10% shifting consumer preferences, while facing rising costs and
stake in the snacks division of India’s Haldiram’s for approximately $1 billion intense competition. Below is a SWOT analysis of the industry:
STRENGTHS WEAKNESSES
Established brand equity & Low margins, price sensitivity,
customer trust, distribution limited differentiation, and
B2B e-commerce platform Udaan (July 2025) has acquired Indore-based networks, high scalability. dependency on retail.
ShopKirana in an all-stock deal to sharpen focus on profitable growth SWOT
SWOT
Analysis
Analysis
THREATS OPPORTUNITIES
Raw material & packaging cost Rising demand for organic,
In a megamerger, Mars acquired Pringles-maker Kellanova (March 2025) for inflation, disruption from D2C & health, & sustainable products,
digital-first brands. tier 2/3 city expansion.
$35.9 billion, creating one of the largest global snack firms

Source: Statista, Traxcn, Bloomberg, Reuters Business, Team Anakysis 15

 FMCG: MARKET TRENDS & GLOBAL POSITIONING
Spotlighting Recent Trends, Innovation Drivers, and Global Market Shifts

MARKET TRENDS BIOHACKING & FUNCTIONAL FMCG

Functional FMCG refers to food and personal care products
Tech-enabled and data- Products with minimal designed not just for basic use, but to enhance mental
driven buying behaviour ingredients, free from performance, boost immunity, improve sleep, and support
Smart focused on personalisation Clean harmful chemicals and holistic health through targeted ingredients
Consumption and efficiency. FMCG additives.
Rising awareness around preventive healthcare
Environment-friendly Growing focus on Key
products with sustainable functional foods, plant- Growth Post-COVID focus on immune resilience
Eco packaging and a low Food & based alternatives, and Drivers
FMCG carbon footprint. health-centric offerings. Increased acceptance of nutraceuticals
Beverage

REGIONAL ANALYSIS INSIGHTS

As the FMCG sector evolves across regions, several countries stand out as growth frontiers driven by Health-Science R&D
demographics, distribution innovations, and consumer behavior shifts. The table below captures this: Establish brand credibility through clinical trials,
ingredient validation, and expert-led product
Country Key Players Growth Drivers development aligned with wellness outcomes
P&G, Unilever, Nongfu Spring Digital retail dominance, premiumization Digital Personalization
China
trend, fast urban lifestyle shifts
Leverage AI, health trackers, and consumer data to
create subscription kits, adaptive SKUs, and hyper-
HUL, ITC, Dabur, Marico Expanding middle class, rural distribution targeted wellness solutions
India
push, rising health consciousness
Transparent Packaging
Brand loyalty, advanced retail ecosystems, Implement QR-enabled smart packaging, clear
USA P&G, Colgate-Palmolive, PepsiCo labeling, and science-backed storytelling to educate
high per capita FMCG spend
consumers and build long-term loyalty

Source: EY Report, Economic Times, Team Analysis 16

 Q-COMMERCE: INDUSTRY OVERVIEW
Q-commerce is witnessing exponential growth fueled by instant delivery trends and evolving consumer behavior

MARKET SIZE AND GROWTH HISTORY OF Q-COMMERCE IN INDIA

The market size of the global Quick Commerce is ₹44.893 crore Q-commerce in India evolved from early online groceries to hyper-fast delivery startups, rapidly scaling
in India and ₹10.89 lakh crore globally post-COVID with major consolidations and a growing market focused on sustainable growth
In USD (billion) Lockdowns spark Zomato acquires
283.04 2021 2023
2014 demand for fast Blinkit for $568M;
Launch of Tier-2
7.74% Online Grocery deliveries of rapid industry Penetration
195.01 Zepto
CAGR essentials consolidation begins

2X Grofers and Q-commerce Major players

2020 2022 expand to Tier-2
BigBasket launched, officially takes off
Growth pioneering online
COVID-19
with Zepto's
Industry cities, and product
2024 2030 Consolidation categories diversify
grocery delivery launch & Blinkit

GROWTH DRIVERS AND IMPACT REGULATORY LANDSCAPE INCOME – WISE CUSTOMER BREAKDOWN
Low High Food & Product Safety Regulations Urban Hustlers
Urban Density Surge ✓ Age 22–35, metro cities, working professionals
Low High ✓ Impulse and tech-savvy buyers
Labor & Gig Worker Welfare
Instant Gratification Culture
Convenience-Driven Families
Low High
Consumer Protection ✓ Age 28–45, nuclear families in Tier 1 & Tier 2
Dark Store Expansion
✓ Prioritize reliability and product ranges
Low High
FMCG Brand Integration Environmental & Packaging Norms
Price-Sensitive Aspirers
Low High
Digital & Data Privacy Compliance ✓ Age 18–30, students & entry-level earners
Seamless Digital Payments ✓ Deal seekers and cautious spenders

Source: Statista, IBEF, Team Analysis 17

 Q-COMMERCE: KEY PLAYERS & TRENDS
Key players in Q-commerce are redefining convenience with rapid delivery, diversified offerings, and emerging Tier 2/3 growth

MAJOR PLAYERS OF THE INDUSTRY

Blinkit (earlier Grofers) Zepto Swiggy Instamart Big Basket
Foundations of AI

Laid symbolic logic

groundwork for intelligent
India’s largest quick commerce Tech-driven ultra-fast grocery Swiggy’s quick commerce arm, Tata-owned grocery giant with
systems to solve
platform, problems
delivering groceries delivery service, renowned for its providing a diverse product integrated quick delivery (BB
and essentials in 10-20 minutes consistent 10-minute deliveries and range delivered in 15-30 Now), focusing on freshness
with a dominant market share rapid nationwide growth minutes across major cities and reliability in 10-60 minutes

RECENT TRENDS AND DEVELOPEMENTS

Geographic Expansion Category Growth Brand & Product Strategy Tech & Operations Experience & Regulation

Expanding to Beyond groceries Rise of D2C and AI-led logistics Hyper-

Tier 2/3 Cities to fashion, etc. local brands & inventory personalisation

Boosted by 20–30% orders D2C forms >30% Dark stores & Impulse
internet use are non-grocery of brand mix urban warehouses buying

Tier 2/3 to drive Seasonal & Focus on curated Faster 10–15 min focus on
It 50% by 2026 premium items local products delivery models sustainability

Source: Kearney Report, Unicommerce, Team Analysis 18

 Q- COMMERCE: MARKET FORCES & TRENDS
Market forces, sector-specific trends, and regulatory shifts are collectively shaping the future of Q-commerce

MARKET TRENDS & DRIVERS

Industry Forecasts Sectoral Penetration Cost Drivers Revenue Drivers
Demand surge for 10-30 min Rider salaries, fuel, and
Last-Mile
Groceries: Core segment with logistics infrastructure for High Order Volume & Frequency
deliveries, especially in Urban Delivery Cost
fastest adoption &repeat usage ultra-fast delivery
cities
Private labels & high-margin SKUs
Expanding into non-grocery Rent, staffing, and
Pharma: Emergency medicines, Dark Store
segments like electronics & inventory management at Brand Partnerships & In-App Ads
health kits via express delivery Operations local fulfilment centres
essentials
Delivery & Convenience Charges
Focus on profitability over F&B: Late-night snacks & ready- Heavy spend on offers,
GMV: consolidation and Customer
to-eat meals gain popularity marketing, & promotions Upselling & Cross-Selling
selective SKU expansion Acquisition
to attract users.

PESTEL FRAMEWORK
Political Factors Economic Factors Social Factors Technological Factors Environmental Factors Legal Factors

Moderate impact Very high impact Strong impact Critical enabler Moderate impact Increasingly relevant

Policy changes around High burn rates, funding Urban youth, nuclear Tech innovations like Gig economy Push for
FDI and urban logistics constraints, and price- families, rising UPI, route optimisation, regulations and sustainability and
affect entry and sensitive consumers incomes, and lifestyle and dark stores form consumer protection green logistics is
operations but aren't the heavily shape the shifts are key demand the backbone of q- laws are emerging, rising, especially in
primary driver industry drivers. commerce with growing relevance metros.

Lowest Highest Lowest Highest Lowest Highest Lowest Highest Lowest Highest Lowest Highest

Source: Kearney Report, IBEF, Team Analysis 19

 Q-COMMERCE: GLOBAL OVERVIEW & CASE STUDY
Dunzo’s fall reveals the importance of sustainable growth, efficient capital use, and clear business models in scaling Q-commerce ventures

GLOBAL OVERVIEW
As Q-Commerce rapidly scales globally, a handful of countries are emerging as strategic
hotspots. The table below outlines these key geographies, their leading platforms, and the
structural advantages driving market leadership

Country Key Players Growth Drivers

Massive urban population,
China Meituan, JD Daojia, Dada Nexus
advanced logistics, mobile-first

High demand in metros, young

India Zepto, Blinkit, Swiggy Instamart
consumers, VC-backed growth

Gopuff, DoorDash, Instacart Express, High disposable income, busy

The major players in the Q-Commerce market are primarily from the above USA
Amazon Fresh lifestyle, tech penetration
highlighted countries: India, China, USA, Japan, Germany, France, Russia

DUNZO - A CAUTIONARY TALE IN INDIAN Q-COMMERCE

Dunzo’s Q-Commerce journey reflects the challenges of scaling fast in a capital-intensive, low- Success Driver (Early) Challenges & Pitfalls
margin market. Despite strong backing and rapid growth, it struggled to sustain profitability
First-mover advantage in India’s
High burn rate and low margins
hyperlocal space
Founded as a Raises $240M, Faces losses,
hyperlocal aggressive Q- shuts dark stores, Delay in adapting to consumer
2017 2022 Backing from Google and Reliance
concierge service commerce push delays salaries 2024 shift to planned purchases

Quick expansion into metros Inefficient dark store operations

2015 Google invests first Launches Dunzo Exits q-commerce,
direct Indian startup 2021 2023 pivots back to B2B Branding & convenience appeal Poor unit economics, cash crunch
Daily (Q-commerce)
investment in metro cities logistics
Source: Kearney Report, Economic Times, CB Insights, Team Analysis 20
Grandeur SSCBS

grandeur.sscbs

[email protected]