The Global Quick E-Commerce (Quick Commerce) Market consists of online platforms that deliver single or cumulative orders of groceries and everyday essentials to customers, within as little as 15 minutes to few hours. Customers usually place orders through mobile applications, and the products are delivered to their doorsteps in quick turnaround times. Key product offerings through quick commerce platforms include fresh fruits and vegetables, snacks, beverages, household supplies and FMCG goods among others that are purchased frequently. The market offers convenience to shoppers who need groceries or daily essentials in a hurry.
The Global Quick E-Commerce (Quick Commerce) Market is estimated to be valued at US$ 44.81 Bn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Quick E-Commerce (Quick Commerce) Market are Shire Plc., CSL Limited, Octapharma AG, LFB S.A., Biotest AG, Grifols, S.A., SK Plasma Co., Ltd., Baxter International Inc., Green Cross Corporation, and Fusion Health Care Pvt. Ltd. among others. With increasing demand for quick access to daily essentials, players in this market are strengthening their supply chains and expanding their fleet size to reduce delivery times.
The demand for Global Quick Commerce Market Share services is growing due to changing consumer habits and adoption of mobile technologies. With hectic lifestyles, many consumers prefer not to spend time shopping at physical stores. Quick E-Commerce platforms help address this need for instant gratification by offering products within a few hours.
Technological innovations such as AI and machine learning, advanced routing algorithms, and automation are helping quick commerce companies to optimize fleet management and supply chain operations. Companies are leveraging data analytics to better understand demand patterns and fulfil orders faster.
Market Trends
Consumers today seek personalized and tailored shopping experiences. Quick commerce platforms are developing highly customized interfaces and recommendations engines to fulfil diverse product preferences and deliver targeted promotions. Companies are partnering with local producers and businesses to source fresher inventory and support the local economy.
Sustainability has become an important criterion for customers. Quick E-Commerce platforms are taking efforts to reduce packaging waste and carbon footprint of operations through electric vehicles, renewable energy usage, smart routing and recycling programs. Some companies have also introduced carbon-neutral delivery options.
Market Opportunities
The market potential in lower-tier cities and semi-urban regions remains largely untapped. Quick commerce players can expand to these emerging areas and provide employment opportunities.
With technological progress, opportunities will arise for drones, robotic delivery and autonomous vehicles to further speed up deliveries. Reduction of delivery times to under 10 minutes will help quick commerce platforms penetrate deeper into consumer baskets.
Impact of COVID-19 on Global Quick E-Commerce (Quick Commerce) Market growth
The COVID-19 pandemic has significantly impacted the growth of Global Quick E-Commerce (Quick Commerce) Market. During the initial phase of the pandemic, lockdowns and restrictions on movements led to temporary closure of physical stores. However, demand for grocery and daily essential items continued due to which quick commerce companies witnessed rise in orders for grocery and other daily essential delivery. With people staying indoors, quick delivery of grocery and daily needs items through online platforms became increasingly popular. Players in the market ramped up their hyperlocal delivery capabilities to cater to rising demand. Post pandemic as well, quick commerce segment is expected to continue growing at a robust pace supported by changes in consumer behavior and preference for contactless shopping and delivery. While large quick commerce players were well positioned to tap into opportunities during pandemic, smaller players also strengthened their supply chains and delivery networks to gain traction. Looking ahead, quick commerce companies will need to focus on expanding product portfolio, strengthening last mile delivery networks, enhancing customer experience through technology to sustain long term growth in the evolving market environment.
Geographical regions with high concentration of Global Quick E-Commerce (Quick Commerce) Market value
The geographical region with the highest concentration of value for the Global Quick E-Commerce (Quick Commerce) Market is North America. Countries like US and Canada have widespread adoption of online shopping and strong foundation for e-commerce. High smartphone and internet penetration coupled with fast paced urban lifestyles have made on-demand delivery popular. With presence of key global quick commerce players, the region accounts for over 30% of total market value. Emerging economies in Asia Pacific like India and China are also focused regions given rising affluence, e-commerce growth and large population base residing in urban centers.
Fastest growing region for Global Quick E-Commerce (Quick Commerce) Market
The fastest growing region for the Global Quick E-Commerce (Quick Commerce) Market is expected to be Asia Pacific over the forecast period. Countries like India and China having a combination of growing middle class households, increasing smartphone/internet penetration and strong government support for digitalization will drive significant opportunities. Favorable demographic factors coupled with pandemic induced changes have accelerated e-commerce penetration and boosted quick commerce specifically. Aggressive expansion plans of global as well as regional quick commerce startups in the Asia Pacific region are contributing to its high growth potential compared to mature markets of North America and Europe. Improving product offerings, better experience and strong platform development will support continued expansion.
For more insights, Read- Global Quick E-Commerce (Quick Commerce) Market
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