New Delhi, Aug 22 (IANS): The Indian smartphone users are spending 30 minutes a day on consuming memes and 80 per cent have increased meme consumption in the last year, a new report showed on Monday.

While most users enjoy memes as a good way to release stress, 50 per cent expect their meme consumption to increase, according to the report by strategy consulting firm Redseer.

"The shareability of memes makes them popular among groups with the same interest or even globally because most people find them relatable. Thus, it comes as no surprise that in just the last year, close to 80 per cent have increased meme consumption," said Mrigank Gutgutia, Partner at Redseer.

Memes are now at the peak of the entertainment sector.

To keep up with this rising demand, meme creation platforms are crowding the market, indicating that monumental growth is on the cards for this industry.

"Ninety per cent of consumers are open to creating memes themselves, indicating large latent demand for meme creation apps," said Gutgutia.

Social media is the primary source for access to memes, followed by word of mouth from friends and family.

"Social media has allowed everyone to try their hand at content creation, thus, this has paved the way for the rise of meme creation apps and platforms," the report mentioned.

People want to consume or create memes for brand building and as a creative outlet.

"An important aspect that makes memes attain such huge popularity in a short period of time is that any individual can connect to them -- and this works great for brand building and marketing," the report added.