Quick Commerce Market to Reach USD 342 Billion by 2030

PUNE, India - Aug. 14, 2024 - PRLog -- The Quick Commerce market, also known as "q-commerce," is set to experience explosive growth over the next several years. Valued at approximately USD 69 billion in 2022, the market is projected to grow at a staggering Compound Annual Growth Rate (CAGR) of around 22% from 2023 to 2030. By the end of the decade, the Quick Commerce market is expected to reach an impressive size of approximately USD 342 billion.

Rapid Expansion Driven by Consumer Demand

The surge in Quick Commerce is largely fueled by changing consumer behaviors and expectations. In today's fast-paced world, consumers are increasingly seeking convenience and speed in their shopping experiences. Quick Commerce, which emphasizes ultra-fast delivery of goods—often within minutes—caters directly to these demands.

Key Players and Market Segmentation

The Quick Commerce market is highly competitive, with numerous global players vying for market share. Major companies in the sector include Swiggy, Dunzo, Blink Commerce Private Limited, Supermarket Grocery Supplies Pvt Ltd (Big Basket), KiranaKart Technologies Private Limited (Zepto), Getir, Flink, Yemece, Quickcommerce Ltd. (Zapp), Delivery Hero, Gopuff, Maplebear Inc. (Instacart), foodpanda, and Rappi.

These companies are leading the charge in expanding Quick Commerce services across various regions.

The market is segmented by product categories, including food & groceries, stationary, personal care items, medicines, small electronics & accessories, clothing, household products, and others such as pet supplies, alcohol, and gifts & flowers. Among these, food & groceries remain the most dominant segment, driven by the ongoing demand for quick and convenient meal solutions.

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Technological Advancements and Payment Modes

Technological innovation plays a crucial role in the growth of Quick Commerce. Companies are leveraging app-based operations, website-based operations, and hybrid models to enhance customer experience and streamline delivery processes. These technological platforms enable consumers to order products with just a few clicks, ensuring a seamless shopping experience.

In terms of payment modes, the market is divided into cash on delivery and online payments, with online transactions gaining increasing preference due to their convenience and security.

Future Outlook

As the Quick Commerce market continues to evolve, it is poised to become a vital part of the global retail landscape. With its rapid growth trajectory, diverse product offerings, and technological advancements, Quick Commerce is set to redefine consumer expectations and set new standards for convenience in the years to come.

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