India, June 3 -- The Indian quick commerce market will reach $57 Bn by 2030, according to revised estimates by global brokerage firm Morgan Stanley. It had earlier projected the total addressable market (TAM) for the 10-minute delivery format at $42 Bn.

The brokerage attributed the upward revision to four key factors: deepening penetration of online grocery through quick commerce, a sharp spike in monthly transacting users, expansion into over 100 non-metro cities through tailored delivery models, and growing consumer reliance on the segment.

"On quick commerce platforms, the average spend per customer is touching $300 a year for the market leader Eternal (which runs food delivery app Zomato and quick commerce app Blinkit) and $250 for ...