Press release
Quick Commerce Market Targets Impressive 21.7% CAGR (2023-2032)
● In 2022, the market was valued at USD 67.2 Billion and is projected to reach USD 467.9 Billion by 2032, growing at a CAGR of 21.7%.
● It's reshaping the way we shop, providing instant access to a variety of products, from groceries to pharmaceuticals.
● Despite its rapid growth, Quick Commerce faces challenges such as operational complexities in last-mile delivery and intense competition.
● North America leads the market, with over 29% share in 2022, followed by significant growth in the Asia-Pacific region, expected to record a CAGR of over 22% from 2023 to 2032.
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Quick Commerce Market Trends:
The Quick Commerce Market is witnessing several key trends:
Technological Advancements: Innovations in logistics and order fulfillment are enhancing the efficiency of quick commerce services.
Consumer Behavior Shift: The COVID-19 pandemic has accelerated the shift towards online shopping, particularly for groceries and daily essentials.
Urbanization and Lifestyle Changes: Growing urban populations and busy lifestyles are contributing to the rising demand for quick commerce services.
Quick Commerce Market Growth Factors:
Several factors are propelling the growth of the Quick Commerce Market:
Consumer Demand for Convenience: The increasing preference for fast and convenient shopping experiences is a major driver.
E-commerce Expansion: The overall growth of e-commerce, especially during the pandemic, has played a significant role.
Technological Integration: The use of data analytics for personalized services is opening new avenues for market expansion.
Market Challenges:
The Quick Commerce Market also faces several challenges:
Last-Mile Delivery Logistics: Operational complexities in last-mile delivery pose significant hurdles.
Competitive Market Landscape: Intense competition is leading to margin pressures for service providers.
Geographical Expansion: Entering and establishing a presence in new markets remains a challenge.
Market Segmentation Insights:
● The market is segmented based on product, payment mode, and technology:
○ By Product:
■ Food & Groceries
■ Personal Care Items
■ Stationary
■ Household Products
■ Medicines
■ Clothing
■ Small Electronics & Accessories
■ Others
○ By Payment Mode:
■ Online
■ Cash on Delivery
○ By Technology:
■ Application-Based Operation
■ Hybrid Operation
■ Website-Based Operation
Overview by Region:
North America leads the Quick Commerce market, thanks to its advanced e-commerce infrastructure and tech-savvy consumers. The region's dominance is further bolstered by major players investing in efficient delivery solutions.
Quick Commerce Market Table of Content:
CHAPTER 1. Industry Overview of Quick Commerce Market
CHAPTER 2. Research Approach
CHAPTER 3. Market Dynamics And Competition Analysis
CHAPTER 4. Manufacturing Plant Analysis
CHAPTER 5. Quick Commerce Market By Product
CHAPTER 6. Quick Commerce Market By Payment Mode
CHAPTER 7. Quick Commerce Market By Technology
CHAPTER 8. North America Quick Commerce Market By Country
CHAPTER 9. Europe Quick Commerce Market By Country
CHAPTER 10. Asia Pacific Quick Commerce Market By Country
CHAPTER 11. Latin America Quick Commerce Market By Country
CHAPTER 12. Middle East & Africa Quick Commerce Market By Country
CHAPTER 13. Player Analysis Of Quick Commerce Market
CHAPTER 14. Company Profile
List of Key Players in the Global Market:
The market features prominent players like Swiggy, Blink Commerce Private Limited, Dunzo, Supermarket Grocery Supplies Pvt Ltd (Big Basket), Flink, KiranaKart Technologies Private Limited (Zepto), Quickcommerce Ltd., Zapp, Delivery Hero, Rappi, MaplebearInc.(Instacart), and foodpanda.
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