Quick Commerce Market Size Worth $11.67 Billion By 2032 | CAGR: 12.6%

The global quick commerce market size is expected to reach USD 11.67 billion by 2032, according to a new study by Polaris Market Research. The report “Quick Commerce Market Share, Size, Trends, Industry Analysis Report, By Product Category (Clothing, Stationary), By Payment Mode (Cash On Delivery, Online), By Technology, By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing trend among consumers in metropolitan cities to receive household goods and groceries within a remarkably short time frame, typically ranging from 10 to 30 minutes, is a significant driver behind the market's growth. This emerging business model, often referred to as quick commerce or Q-commerce, aims to meet the demands of consumers for rapid deliveries. It encompasses a wide range of product categories, including perishable food items and electronic products, catering to diverse consumer needs and preferences.

Consumers in urban areas, often leading busy lifestyles, seek convenience and efficiency in their shopping experiences. Quick commerce services address this demand by providing a swift and streamlined delivery process. With the ability to order essential items and groceries online and have them delivered within half an hour, consumers can save time and effort, eliminating the need for time-consuming trips to physical stores.

This rapid delivery model spans various product categories, ensuring that consumers can access a broad spectrum of goods, including fresh produce, household essentials, personal care items, electronics, and more. The convenience of receiving a diverse range of products swiftly has made quick commerce increasingly popular among urban consumers, leading to its significant growth in the market.

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The evolving business approach encompasses a wide array of product categories, spanning from perishable food items to electronics. The global shift in consumer behavior, triggered by the pandemic, has accelerated the trend of online essential shopping. This surge is attributed to the increasing preference among consumers for online orders, allowing them to access a diverse range of products without the need to visit physical stores. This trend highlights the market's growth, emphasizing the pivotal role of fast delivery, convenience, improved customer experiences, and access to a broader assortment of goods.

With the rising demand for swift delivery of food and perishable goods, the quick commerce sector is diversifying its offerings to include non-grocery items. This expansion is opening new avenues for market growth. Foodpanda, reported a significant surge in orders not only for food products but also for various non-grocery categories. The demand for items like electronics, beauty products, home goods, pet food, and wellness products notably increased. Wellness and health products experienced a remarkable surge of 115% in orders. Retailers across different product segments are capitalizing on this trend, leveraging online platforms to enhance visibility and broaden their customer base.

Quick Commerce Market Report Highlights

• Personal care items segment will grow at rapid pace, owing to presence of young consumers seeking online hassle-free quicker delivery options  
• Online payment mode with grow at the substantial pace, owing to ease payment, UPI interface, and strong support from policy makers
• APAC will grow at rapid pace, as the region comprises of young individual with smartphones seeking daily care items
• The global players include Swiggy, Dunzo, Blink Commerce, Big Basket, Zepto, Getir, Flink, Yemece, Delivery Hero, and Gopuff

Polaris Market Research has segmented the quick commerce market report based on product category, payment mode, technology, and region:

Quick Commerce, Product Category Outlook (Revenue - USD Billion, 2019 - 2032)

• Food & Groceries
• Stationary
• Personal Care Items
• Medicines
• Small Electronics & Accessories
• Clothing
• Household Products
• Others (Pets, alcohol, gifts & flowers)

Quick Commerce, Payment Mode Outlook (Revenue - USD Billion, 2019 - 2032)

• Cash on Delivery
• Online        

Quick Commerce, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

• Application Based Operation
• Website Based Operation
• Hybrid Operation

Quick Commerce, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Quick Commerce Market Report Scope