The online milk delivery has an addressable market of $1.2 bn of which 8% is online
The Indian dairy market is ~ $95 bn of which ~ $15 bn is in the top 6 metros. A large portion of target customers of online dairy products falls into the > INR 10 lpa income bracket within the top metros. With the population of top 6 metros being ~ 80 mn of which 5% earn more than INR 10 lpa, we have a 4 mn target consumer base. Assuming an average yearly spend of $ 300 for the > INR 10 lpa income bracket, we estimate an addressable market of $ 1.2 bn of which 8% is currently online.