Quick Commerce Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Quick commerce refers to a segment of the e-commerce industry that focuses on the rapid delivery of goods and services to customers, typically within an hour or even minutes of placing an order. It often involves the use of localized warehouses, advanced logistics, and delivery technologies to ensure speed and efficiency.

Sizing and Forecast
The quick commerce market size has grown exponentially in recent years. It will grow from $83.31 billion in 2023 to $104.10 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%.  The growth in the historic period can be attributed to urbanization, changing lifestyles, transportation infrastructure, e-commerce growth, and demographic changes.

The quick commerce market size is expected to see exponential growth in the next few years. It will grow to $254.99 billion in 2028 at a compound annual growth rate (CAGR) of 25.1%.  The growth in the forecast period can be attributed to sustainability concerns, regulatory landscape, consumer expectations, health and safety concerns, and market consolidation. Major trends in the forecast period include hyper-personalization, the rise of social commerce, augmented reality (AR) shopping, sustainable practices, and voice commerce.

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Segmentation & Regional Insights
The quick commerce market covered in this report is segmented –
1) By Product: Food And Groceries, Stationery, Personal Care Items, Medicines, Small Electronics And Accessories, Clothing, Household Products, Others Products
2) By Technology: Application Based Operation, Website Based Operation, Hybrid Operation
3) By Payment Mode: Cash On Delivery, Online

North America was the largest region in the quick commerce market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quick commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The expansion of the e-commerce industry and online shopping is expected to propel the growth of the quick commerce market going forward. The e-commerce industry includes the buying and selling of goods and services over the Internet, while online shopping refers to the act of purchasing products or services through websites or mobile applications. The e-commerce industry and online shopping are expanding because of increased internet and mobile device penetration, advancements in technology, improved logistics and delivery services, and the convenience of shopping from home. Quick Commerce offers rapid on-demand delivery of online goods and services to consumers, enhancing convenience and meeting immediate needs. For instance, in May 2021, according to the United States Department of Commerce, a US-based government agency, e-commerce sales in the US reached $215.0 billion in the first quarter of 2021, which is an increase of 7.7% (±0.5%) compared to the fourth quarter of 2020. Therefore, the expansion of the e-commerce industry and online shopping is driving the growth of the quick commerce market.

Key Industry Players
Major companies operating in the quick commerce market are  Delivery Hero SE, DoorDash Inc., Gopuff, Maplebear Inc., Swiggy, Grab Holdings Inc., Getir, Shipt Inc., Postmates Inc., Missfresh Inc., Flink SE, ZeptoExpress Sdn Bhd, Lalamove LLC, FreshDirect LLC, Jokr Inc., Dunzo Digital Private Limited , Zapp Ltd., Blink Commerce Private Limited, Gorillas Technologies GmbH , GoJek, Rappi S.A.S, Weezy Technologies Limited

The quick commerce market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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