The Global Quick E-Commerce Market Is Driven By Growing Need For Instant Delivery

The global quick e-commerce market, also termed as quick commerce, refers to the delivery of groceries and daily essential items to customers within a few minutes to a maximum of two hours. Quick commerce utilizes dark stores or micro-fulfillment centers located close to high-density customer locations for rapid order processing and delivery. Items are typically delivered through electric bikes, scooters, or autonomous vehicles. Quick commerce provides consumers the advantage of access to grocery essentials within a very short timeframe, without having to visit physical retail stores. The market has gained significance amidst the pandemic with growing demand for contactless delivery of goods.

The Global Quick E-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 2031.

Key Takeaways

Key players operating in the global Global Quick Commerce Market Growth 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. The growing demand for contactless delivery of daily essentials amidst the COVID-19 pandemic is driving the growth of the quick commerce market. Market players are expanding their quick commerce operations globally to capitalize on the massive opportunity.

Growing demand: The quick commerce market has witnessed a surge in demand since the outbreak of the COVID-19 pandemic as people increasingly opted for contactless delivery of daily essentials. The rising health awareness and preference for avoiding crowded areas has propelled the demand for quick delivery of goods through the e-commerce model.

Global expansion: Major players in the quick commerce space such as Gorillas, Jokr and Getir have been rapidly expanding their footprint globally. For instance, Gorillas operates in over 65 cities across 9 countries. Jokr recently raised $290 million to expand in Latin America. The massive opportunity has encouraged global expansion of quick commerce companies.

Market drivers

One of the major market drivers for quick commerce is the growing need for instant gratification and convenience among consumers. With fast-paced lifestyles, consumers expect accessibility and immediacy in fulfilling their needs. Quick commerce meets this need for instant delivery within a few minutes through a seamless and simplified experience, driving its popularity.

Geopolitical Impact on Global Quick E-Commerce (Quick Commerce) Market Growth:

The ongoing geopolitical tensions including the Russia-Ukraine war and Covid-19 pandemic are negatively impacting the growth of the global quick e-commerce market. The restrictions in movement and lockdowns imposed during the pandemic disrupted the supply chains for various industries. It also affected the workforce availability. Secondly, the war has further increased inflation and commodity prices across the globe. It has pushed up the costs of fuel, raw materials and logistics for quick commerce players. These companies are focusing on streamlining operations and controlling capital expenditure to offset rising expenses. However, governments in many countries are taking initiatives to support small businesses and digitalization of retail sector. This can help quick commerce market to recover faster. Future strategies must focus on further optimizing delivery infrastructure and enhancing operational efficiencies to withstand geopolitical uncertainties.

Geographical Regions with Highest Value Share in Global Quick E-Commerce (Quick Commerce) Market:

The Asia Pacific region, especially China, India and Southeast Asian countries, currently hold the highest share of value in the global quick commerce market. Due to large population, rising internet penetration and increasing adoption of online shopping, the cities in this region provide huge potential for quick deliveries of goods. The increasing young working population prefers quick and hassle-free delivery of items of daily use within minutes. Further, several Chinese startups including Meituan and Alibaba have established strong grocery delivery infrastructure in major cities which is fueling the market growth. The Europe region is also emerging as a major market due to growing demand in densely populated cities of UK, Germany, France and Italy.

Fastest Growing Region for Global Quick E-Commerce (Quick Commerce) Market:

The Middle East and Africa region is expected to witness the highest growth in the quick commerce market during the forecast period. Factors such as growing young urban population, rising internet access and adoption of smartphones are propelling the demand. In addition, GCC nations, especially UAE and Saudi Arabia, are investing heavily in developing digital infrastructure as part of their vision to diversify economy. This has attracted several global and local quick commerce startups to expand in major cities. Countries like Egypt and South Africa are also emerging as new hotspots. Overall, GCC will remain the major revenue generator; while West, East and North African markets will exhibit faster growth in the coming years.