New Delhi, March 19 : Indiaâ??s packaged food and beverages (F&B) market is set to enter a new phase of growth, projected to expand to over $150 billion by 2030 from around $100 billion currently, driven largely by the rapid rise of quick commerce, a report said on Thursday.

The report by Redseer said the quick commerce segment alone is expected to scale from $4 billion at present to over $25 billion in gross merchandise value (GMV) by 2030, led by rising demand for speed, convenience and high-frequency consumption.

Quick commerce has evolved beyond being a last-minute fulfilment channel and is increasingly influencing everyday purchase behaviour. With over 50 million monthly users across more than 250 cities, its share in the packaged F&B market is expected to rise from around 4 per cent to 15â??20 per cent by 2030, it said.

"Quick commerce is emerging as a structural force in the packaged food and beverages market,â?? said Mrigank Gutgutia, Partner at Redseer Strategy Consultants, adding that it is influencing product innovation, category strategy and investment decisions.

The report also highlighted a shift in consumer preferences, with younger consumers focussing more on protein intake, while others are opting for cleaner and healthier food options.

The ready-to-cook segment is seeing increased demand due to smaller households, time constraints and growing adoption of kitchen appliances. Faster delivery timelines of 10â??15 minutes are also enabling more on-demand consumption, according to an analysis.

Health-focussed beverages, including functional and protein-based drinks, are gaining traction, while packaged coconut water is also seeing rising demand.

Indulgence categories such as chocolates are witnessing strong growth through quick commerce, with a notable share of sales driven by impulse purchases during late evening hours.

As consumer preferences evolve and quick commerce expands, the report said the packaged F&B market is likely to undergo significant changes in both product mix and distribution channels.

/IANS