Q-Commerce Market: Current Analysis and Forecast (2022-2028)

The Global Q-Commerce Market is expected to grow at a significant rate of around 47% during the forecast period. The global q-commerce market is anticipated to witness an uptick with the democratization of the internet coupled with growing investment in AI and other advanced technology that monitor demand and adjust inventory in real-time. Quick commerce is closely related to last-mile deliveries which require a constant supply of stock and optimized picking routes so that products can be picked and packed in the shortest possible time. key market players such as Jokr, Getir, and Flink are cropping up at great speed across the globe and help in ensuring the accessibility of essential items and everyday goods at consumer's doorstep in less than 1 hour of delivery time which is positively influencing the market of quick commerce. Moreover, factors such as soaring urbanization coupled with an upsurge in online purchases during lockdown have escalated the need for q-commerce across the globe. For instance, according to International Telecommunication Union (ITU), 4.9 billion people are using the internet in 2021, which is 63% of the world's total population. This is an increase of almost 17% since 2019, with almost 800 million people estimated to have come online during that period.

GoPuff, Gorillas, Flink, Getir, Uber Eats, Deliveroo, Instacart, Tesco's Whoosh, Zomato, and Delivery Hero are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

"Amongst type, groceries q-commerce category to witness robust CAGR during the forecast period"

Based on type, the market is classified into food, grocery, pharma, and others. The groceries segment is gaining extensive traction in the q-commerce market and is expected to witness influential growth in the forecasted period as well. During COVID-19, restrictions on movement imposed by the government across the globe restrained the adoption of essential groceries to the consumer. Consumers extensively adopted the services of q-commerce by discovering the smooth buying of groceries from the comfort of their homes which has extensively escalated the adoption of q-commerce in emerging markets.

"Amongst service, the startup segment to hold a significant share in the market in 2020"

On the basis of service, the market is segmented into startups, aggregators, and retailers. Startups cater significant share in the market and are expected to witness considerable growth in the forecasted period as well. Factors such as the growth of recent q-commerce startups in emerging economies owing to their efficient digital payment infrastructure, supportive funding, and effective ecosystem to provide their services and delivery within less than 1 hours working model is accelerating the market outlook. Moreover, recent startups across the globe have upsurged the market growth of q-commerce due to their initial funding, coupled with their delivery models and structured ecosystem that has escalated the market outlook.

"North America to hold a significant share in the market"

In 2020, North America held a significant share of the global q-commerce market. This is mainly attributed to the supportive government initiatives, acceleration in the grocery and food delivery market, and growing adoption of e-commerce in the region. Moreover, a strong logistics and digital infrastructure is leading to an increase in the number of people purchasing goods online. For instance, almost 96% of Americans have made at least one online purchase in their life. Other factors that are positively influencing the growth of the market are busy lifestyles, rapid urbanization, and a growing aging population.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

• The report presents a quick review of overall industry performance at one glance.

• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

Customization Options:

The global q-commerce market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.