The global Quick E-Commerce (Quick Commerce) Market is estimated to be valued at US$ 38.89 Bn in 2023 and is expected to exhibit a CAGR of 34.1% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
The quick commerce market involves delivering groceries and everyday essential items to customers within a few minutes upon order placement. It provides on-demand convenience to busy customers who need their daily supplies in no time. The quick delivery model is revolutionizing the way people shop for their daily and emergency needs.
Market key trends:
One of the key trends driving the quick commerce market is the growing preference of consumers towards convenience. More people are opting for on-demand delivery services instead of visiting stores due to their busy lifestyles and schedules. Additionally, innovative logistics and warehouse management by quick commerce players allow them to offer delivery slots within minutes of order placement. For instance, companies like Blinkit and Gorillas have established micro-fulfillment centers in dense residential areas to offer super-quick deliveries. Their 10-15 minute delivery promise is revolutionizing the grocery shopping experience for consumers.
The global quick e-commerce (quick commerce) market is segmented into platform, product type, platform model, and region. Based on platform, the market is segregated into desktop/laptop and mobile applications. The mobile applications segment held the largest share of over 68% in 2023 and is anticipated to grow at the fastest rate during the forecast period due to rising penetration of smartphones coupled with users’ inclination towards convenient shopping through mobile apps.
Based on product type, the quick e-commerce market is bifurcated into food and beverages and personal care/household items. Among these, the food and beverages segment is dominant and valued at around US$ 25.48 Bn in 2023 owing to increasing demand for quick delivery of daily food items and beverages from local kitchens.
The global Global Quick E-Commerce Market Growth is expected to witness high growth, exhibiting CAGR of 34.1% over the forecast period 2023 – 2030, due to increasing consumer demand for instant gratification and convenience in shopping.
Regional analysis – The Asia Pacific dominated the market with around 35% share in 2023 owing to increasing adoption of quick e-commerce platforms in countries like India and Singapore. It is expected to continue its dominance during the forecast period due to rapidly growing e-commerce sales in emerging economies.
Key players – Key players operating in the quick e-commerce market are GoPuff, DoorDash, Instacart, Uber, Glovo, Rappi, Gorillas, Getir, Jokr, Zapp, Flink, 1520, Buyk, Deliveroo, Seazon, Yango Deli, Delivery Club, Bolt Food, Swiggy Instamart, and Blinkit. These players are focusing on service expansions and introducing new product categories to gain market share.