Quick Commerce Market Overview
As per MRFR analysis, the Quick Commerce Market Size was estimated at 3.64 (USD Billion) in 2022.
The Quick Commerce Market Industry is expected to grow from 4.89(USD Billion) in 2023 to 70.0 (USD Billion) by 2032. The Quick Commerce Market CAGR (growth rate) is expected to be around 34.4% during the forecast period (2024 - 2032).
Key Quick Commerce Market Trends Highlighted
The Global Quick Commerce Market is experiencing significant growth driven by changing consumer behavior and advancements in technology. Increasing urbanization and the demand for immediate delivery services are key market drivers. Consumers are seeking convenience and speed, leading to a rise in on-demand delivery platforms. The growth of mobile technology has made it easier for consumers to order goods swiftly, while investments in logistics and fulfillment services enhance operational efficiencies. Additionally, the need for contactless delivery options has pushed many businesses to adapt their models to meet evolving customer expectations.There are numerous opportunities to be explored in the quick commerce sector. As more consumers embrace online shopping, businesses can expand their offerings and tap into niche markets. Collaborations with local businesses can strengthen supply chains while providing unique products to customers.
Enhancing delivery capabilities through technology, such as route optimization and real-time tracking, can improve customer satisfaction and loyalty. Furthermore, sustainability initiatives, like eco-friendly packaging and green delivery options, can attract environmentally conscious consumers and set a brand apart in a competitive landscape. Recent times have seen a surge in demand for quick commerce services, especially in urban areas where consumers value time-saving solutions.Companies are investing heavily in technology to streamline operations and provide faster delivery options. The rise of ghost kitchens and dark stores has also shaped the landscape, allowing businesses to reduce delivery times and meet customer demands more effectively. With an increased focus on personalized shopping experiences, innovations in AI and machine learning are being utilized to enhance customer engagement, making it a pivotal point for businesses to thrive in this dynamic market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Quick Commerce Market Drivers
Increasing Consumer Demand for Instant Gratification
In today's fast-paced world, consumers are increasingly seeking immediate solutions and instant gratification. The Global Quick Commerce Market Industry is experiencing significant growth due to this rising demand for rapid delivery and convenience. As urbanization continues to rise and lifestyles become more demanding, consumers are turning towards quick commerce platforms that offer swift delivery services for their everyday needs, ranging from groceries to household items.The willingness of consumers to sacrifice traditional shopping methods in favor of instant access to products highlights a clear shift in consumer behavior that drives the Global Quick Commerce Market. Companies are adapting to this trend by streamlining their operations, optimizing logistics, and utilizing sophisticated technology to ensure that delivery times are minimized.
Furthermore, the integration of advanced algorithms and machine learning allows these platforms to better predict consumer purchasing patterns, focusing efforts on high-demand products and streamlining inventory management.As a result, the market is witnessing an explosion of new entrants, all vying to capture the attention of a consumer base that is more inclined than ever to prioritize speed and efficiency in their shopping experiences. Furthermore, with increasing smartphone penetration and the prevalence of mobile applications, consumers now have easier access to various quick commerce services, making it even more convenient to place orders and receive products promptly.This technological shift, combined with changing consumer expectations, is propelling the rapid growth of the Global Quick Commerce Market and indicating a substantial shift in how goods are purchased and delivered in the future.
Advancements in Supply Chain Logistics
The evolution of supply chain logistics plays a crucial role in fueling the Global Quick Commerce Market Industry. With advancements in technology and logistics management, companies are now able to optimize their supply chains more effectively. This includes improved inventory management, real-time tracking systems, and efficient route planning for deliveries. By enhancing their operational efficiencies, businesses are able to reduce costs and speed up delivery times, thus meeting the consumer demand for quick commerce.As logistics technology continues to advance, it empowers businesses to maintain a competitive edge in the quick commerce arena.
The Rise of E-commerce Platforms
The rapid rise of e-commerce platforms significantly contributes to the growth of the Global Quick Commerce Market Industry. As more consumers shift towards online shopping, businesses are increasingly adopting e-commerce models that integrate quick delivery options. This shift not only opens up new markets but also promotes a culture of convenience where consumers expect to receive their orders almost instantly. E-commerce platforms equipped with user-friendly interfaces and payment solutions further drive this attraction, making online shopping more accessible and appealing to a broad audience.As e-commerce continues to flourish, the quick commerce segment is projected to expand and evolve.
Quick Commerce Market Segment Insights
Quick Commerce Market Product Type Insights
The Global Quick Commerce Market demonstrates substantial growth and diversification, especially within the Product Type segment. In 2023, the market is valued at 4.89 USD Billion, with projections pointing towards a significant increase by 2032. The segmentation reveals distinct areas of revenue generation, where Groceries emerge as the dominant player, holding a value of 2.076 USD Billion in 2023 and expected to soar to 35.015 USD Billion by 2032. This remarkable growth reflects the rising consumer preference for online grocery shopping, driven by convenience and the increasing demand for rapid delivery services. Following closely, Pharmaceuticals represent a vital sub-segment, with a valuation of 0.83 USD Billion in 2023, anticipated to rise to 10.004 USD Billion by 2032. The need for quick access to healthcare products has been pivotal in driving this segment’s growth, addressing the urgency during health crises and fostering trust in online pharmacies. Electronics occupy a noteworthy position in the Global Quick Commerce Market, with a valuation of 0.739 USD Billion in 2023, projected to climb to 15.006 USD Billion by 2032.
The increasing reliance on technology and gadgets fosters a demand for fast delivery services in this sector, as customers seek immediate access to the latest electronic products. Fashion, another significant segment, is valued at 0.747 USD Billion in 2023 and is expected to grow to 5.002 USD Billion in 2032, appealing to consumers who desire rapid access to clothing and accessories as trends evolve. Lastly, the Home Essentials segment holds a value of 0.498 USD Billion in 2023, anticipated to also reach 5.002 USD Billion in 2032, emphasizing the necessity of fast access to everyday products, especially in situations where supplies are low. The diverse segmentation highlights the Global Quick Commerce Market revenue potential, with each category catering to specific consumer needs. Factors such as urbanization, technological advancements, and changing shopping behaviors are driving robust market growth. Each segment contributes uniquely to the overall market strategies, addressing different consumer demands and preferences, creating a dynamic landscape that indicates a shift in how goods are bought and delivered, making quick commerce an essential part of everyday life. The market experiences challenges, including competition and the need for logistical advancements, yet offers opportunities for innovative solutions and tailored services to enhance consumer experience. Overall, the Global Quick Commerce Market segmentation reveals a diverse array of products, each with its own growth trajectory and significance in today's fast-paced environment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Quick Commerce Market Delivery Model Insights
The Delivery Model segment of the Global Quick Commerce Market has emerged as a vital component, contributing significantly to the industry's growth trajectory. In 2023, the overall market is valued at 4.89 USD Billion, highlighting the increasing demand and consumer reliance on rapid delivery services. The market consists of various models including On-Demand Delivery, which is gaining traction due to consumer expectations for immediacy and convenience. Scheduled Delivery caters to those who prefer planning their purchases ahead of time, providing a structured option to manage their needs effectively.Subscription-Based Delivery is also becoming prominent, as consumers enjoy the benefits of recurring deliveries for essential goods seamlessly integrated into their everyday lives. The Global Quick Commerce Market data indicates that these models not only enhance customer experience but also create opportunities for retailers to explore innovative solutions, driving market growth. The market statistics suggest that the significant rise in e-commerce transactions and changing consumer behavior further support this delivery model segmentation, indicating a robust future ahead for all its components.
Quick Commerce Market Customer Segmentation Insights
The Global Quick Commerce Market, valued at 4.89 USD Billion in 2023, showcases a dynamic landscape driven by various customer segmentation approaches. The B2C segment plays a crucial role as consumers increasingly demand convenience and rapid delivery services, significantly shaping market dynamics. Meanwhile, B2B transactions are gaining traction as businesses seek efficient supply chain solutions to enhance operational agility and customer satisfaction. C2C platforms are also gaining importance by facilitating peer-to-peer transactions, thereby diversifying the market offering.The C2B model is increasingly relevant as consumers provide goods and services to businesses, fueling innovation in the marketplace. The overall growth of the Global Quick Commerce Market can be largely attributed to the rising consumer expectations for speed and convenience, alongside a technological shift towards mobile platforms. Market trends suggest that the shift in purchasing behavior, coupled with urbanization and a digital-savvy demographic, will likely continue to drive significant growth opportunities in this industry. Advanced logistical operations and competitive pricing remain key growth drivers while presenting challenges such as regulatory compliance and market saturation that participants must navigate effectively.
Quick Commerce Market Payment Method Insights
The Global Quick Commerce Market revenue in 2023 is projected to reach 4.89 USD Billion, highlighting a robust growth trajectory in the Payment Method segment, which encompasses various forms such as Credit Cards, Debit Cards, Digital Wallets, and Cash on Delivery. This segment plays a crucial role in defining consumer preferences and ease of transactions within the market. Digital Wallets have gained particular prominence due to their convenience and speed, catering closely to tech-savvy consumers, while Debit and Credit cards continue to dominate for traditional shoppers seeking reliability.The Cash on Delivery method remains significant in certain regions, catering to consumers who prefer physical transactions over digital payments. Additionally, the rapid adaptation of mobile payment technologies drives innovation and competition among payment options, enhancing customer experiences. Overall, the Global Quick Commerce Market segmentation illustrates the importance of varied payment methods, revealing growth drivers like technological advancements, changing consumer behavior, and increasing digitization in purchasing processes, leading to significant market opportunities ahead.Market growth in this sector reflects a shift towards instant gratification, highlighting the influence of consumer immediacy on payment preferences and trends.
Quick Commerce Market Regional Insights
The Global Quick Commerce Market is experiencing significant growth across various regions, with a projected market valuation of 4.89 USD Billion in 2023. North America holds a major share, valued at 1.25 USD Billion in 2023 and expected to reach 20.0 USD Billion by 2032, driven by increasing demand for rapid delivery services. Europe follows closely, starting at 1.1 USD Billion in 2023 and rising to 15.0 USD Billion, as consumers increasingly prefer the convenience of on-demand services. The APAC region is the largest, with a valuation of 2.0 USD Billion in 2023 and anticipated to grow to 30.0 USD Billion, emphasizing its dominance due to a vast population and rising smartphone penetration.South America, valued at 0.3 USD Billion in 2023 with a forecast of 3.0 USD Billion, faces challenges with infrastructure but shows potential growth in urban areas. The MEA region, starting at 0.24 USD Billion and reaching 2.0 USD Billion, remains a developing market with opportunities for players looking to establish a foothold in emerging economies. The robust market growth is driven by evolving consumer expectations and technological advancements reshaping the competitive landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Quick Commerce Market Key Players and Competitive Insights
The Global Quick Commerce Market has emerged as a vital sector within the broader world of e-commerce, driven by the increasing demand for rapid delivery services that cater to consumer convenience. Quick commerce companies focus on providing speedy delivery of various products, ranging from groceries to everyday essentials, allowing customers to receive their orders in a matter of minutes to a few hours. The competitive landscape of this market is characterized by a wide array of players, including traditional retailers venturing into online platforms and innovative startups launching disruptive delivery models. The quest for market share has heightened rivalry, with companies adopting various strategies such as improving operational efficiency, leveraging technology, and establishing partnerships to enhance their service offerings. As the market continues to evolve, understanding the competitive dynamics and identifying the strengths of key players will be crucial for businesses looking to thrive in this rapidly growing sector.
GoPuff has established itself as a formidable player within the Global Quick Commerce Market, primarily due to its unique business model that specializes in delivering convenience items, household necessities, and on-demand snacks directly to consumers. The company's operational strategy focuses on micro-fulfillment centers strategically located in urban areas, enabling quick deliveries that range from 15 to 30 minutes. This positioning allows Gopuff to meet the immediate needs of its customers effectively. Additionally, GoPuff has managed to build a strong brand presence, creating a loyal customer base that appreciates the reliability and speed associated with its services. The investment in technology, including a user-friendly mobile app, showcases Gopuff's commitment to enhancing the user experience. With a wide selection of products and flexible delivery options, Gopuff stands out in the competitive quick commerce landscape, effectively responding to the changing demands of modern consumers.
In the realm of the Global Quick Commerce Market, Zomato has leveraged its extensive experience in food delivery to expand into grocery and quick commerce services, effectively broadening its operational footprint. Initially recognized for its restaurant reviews and food delivery services, Zomato's foray into quick commerce represents a natural progression, allowing the company to utilize its existing logistics network. Zomato's strength lies in its extensive reach and brand loyalty, which has been fostered over years of serving millions of customers. The platform offers a seamless user experience, coupled with robust delivery times, positioning Zomato favorably against competitors. Additionally, Zomato's ability to partner with various retailers and service providers enhances its catalog, ensuring that customers receive a diverse range of products swiftly. This strategic adaptability and focus on customer satisfaction enable Zomato to maintain a competitive edge in the dynamic, quick commerce sector.
Key Companies in the Quick Commerce Market Include
- Gopuff
- Zomato
- Deliveroo
- ChowNow
- Instacart
- Fresco
- Postmates
- Swiggy
- Glovo
- Getir
- Buyk
- Uber Eats
- DoorDash
- Wolt
Quick Commerce Market Industry Developments
Recent developments in the Global Quick Commerce Market indicate significant growth and strategic moves by key players. GoPuff continues to expand its service offerings, particularly in metropolitan areas, as it competes with rivals like Instacart and DoorDash, which are simultaneously increasing their market presence and operational efficiencies. Zomato has introduced new initiatives to enhance its delivery services, aiming to capture a larger share of the Indian market, while Deliveroo is focusing on sustainability by reducing packaging waste. ChowNow is making strides in helping local restaurants boost online ordering capabilities. Notably, Getir has made headlines with its aggressive expansion across Europe, enhancing its brand visibility. Recent mergers and acquisitions have also shaped the market landscape; Uber Eats acquired a minority stake in a fast-growing restaurant delivery startup, reflecting a trend toward consolidation within the industry. Fresh valuations for companies like Swiggy and Glovo show increasing investor interest, further fueling competition and innovation. As the market evolves, the push for efficiency and the adoption of technology remain critical drivers affecting growth trajectories across all players in the quick commerce space.
Quick Commerce Market Segmentation Insights
- Quick Commerce Market Product Type Outlook
- Groceries
- Pharmaceuticals
- Electronics
- Fashion
- Home Essentials
- Quick Commerce Market Delivery Model Outlook
- On-Demand Delivery
- Scheduled Delivery
- Subscription-Based Delivery
- Quick Commerce Market Customer Segmentation Outlook
- Quick Commerce Market Payment Method Outlook
- Credit Card
- Debit Card
- Digital Wallets
- Cash on Delivery
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Quick Commerce Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
3.64(USD Billion) |
| Market Size 2023 |
4.89(USD Billion) |
| Market Size 2032 |
70.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
34.4% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
GoPuff, Zomato, Deliveroo, ChowNow, Instacart, Fresco, Postmates, Swiggy, Glovo, Getir, Buyk, Uber Eats, DoorDash, Wolt |
| Segments Covered |
Product Type, Delivery Model, Customer Segmentation, Payment Method, Regional |
| Key Market Opportunities |
Rising demand for fast delivery, Expansion of urban consumer base, Integration of AI and automation, Growth in mobile payment solutions, Sustainable packaging innovations |
| Key Market Dynamics |
Growing consumer demand, Technological advancements, Intense competition, Delivery speed expectations, Urbanization trends |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global Quick Commerce Market is expected to be valued at 70.0 USD Billion in 2032.
In 2023, the Global Quick Commerce Market is valued at 4.89 USD Billion.
The Global Quick Commerce Market is anticipated to grow at a CAGR of 34.4% from 2024 to 2032.
The APAC region is forecasted to have the largest market size in 2032, with a value of 30.0 USD Billion.
The market value for groceries in the Global Quick Commerce Market is projected to be 35.015 USD Billion in 2032.
Major players in the Global Quick Commerce Market include Gopuff, Zomato, Deliveroo, Instacart, and Uber Eats.
The market value for pharmaceuticals in the Global Quick Commerce Market is projected to reach 10.004 USD Billion in 2032.
In 2023, the North American region of the Global Quick Commerce Market is valued at 1.25 USD Billion.
The market size for electronics in the Global Quick Commerce Market is expected to reach 15.006 USD Billion in 2032.
The market value for home essentials in the Global Quick Commerce Market is projected to be 5.002 USD Billion in 2032.
