Bengaluru, Feb 7 (IANS) – India’s ConsumerTech market is poised for unprecedented growth, projected to touch $300 billion by 2027, driven by a compound annual growth rate (CAGR) of 25 percent, according to a new report.
The study, conducted by Chiratae Ventures in partnership with Google and 1Lattice, identifies key categories primed for expansion in the domestic market, including health foods, pet care, and “athleisure”—a fashion trend merging athletic and casual wear that has become a staple in modern wardrobes.
Health foods are expected to grow at an impressive CAGR of 20 percent, while the pet care segment follows closely with a 17 percent CAGR. Athleisure, a fast-growing trend, is projected to reach $7 billion by 2028, presenting fertile ground for startups looking to tap into changing consumer preferences.
Emerging categories such as lab-grown diamonds, millet-based foods, and Ayurveda are also garnering attention due to their strong global appeal. With India’s focus on technological innovation, research and development, and strategic brand-building, these sectors are well-positioned to thrive in international markets.
“India has witnessed a dynamic shift in the last 5-6 years with the rise of new-age brands. We now have a clear roadmap for success in key sectors,” said Anoop Menon, ConsumerTech Lead at Chiratae Ventures.
The report highlights the potential for entrepreneurs to create impactful brands by addressing evolving consumer needs through innovative business models. With India’s extensive supply chain infrastructure and distribution networks, companies can seamlessly scale operations while optimizing profitability.
However, the rise of agile direct-to-consumer (D2C) brands is reshaping traditional models. Businesses that can quickly capture market signals and adapt to shifting demands will be better positioned for sustained growth.
“With changing customer expectations, the traditional one-size-fits-all approach to distribution is no longer viable,” said Abhilasha Jaju, Director of Financial Investors at 1Lattice. “D2C brands are leading the way by creating more flexible and efficient distribution models.”
As India’s ConsumerTech landscape evolves, the nation’s vibrant entrepreneurial ecosystem is ready to build globally recognized brands that resonate with modern consumers and deliver long-term growth.