Quick Commerce Global Market Report 2024

The quick commerce market size has grown exponentially in recent years. It will grow from $83.31 billion in 2023 to $104.1 billion in 2024 at a compound annual growth rate (CAGR) of 25%. The growth observed during the historic period can be attributed to several factors, including urbanization, changing lifestyles, advancements in transportation infrastructure, the expansion of e-commerce, 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 projected growth in the forecast period can be attributed to various factors, such as sustainability concerns, shifts in the regulatory landscape, evolving consumer expectations, heightened awareness regarding health and safety, and market consolidation. Major trends anticipated in the forecast period include hyper-personalization, the rise of social commerce, the integration of augmented reality (AR) in shopping experiences, the adoption of sustainable practices, and the increasing prevalence of voice commerce.

The growth of the quick commerce market is expected to be driven by the expansion of the e-commerce industry and online shopping in the coming years. The e-commerce industry involves the buying and selling of goods and services online, while online shopping refers to purchasing products or services through websites or mobile apps. This expansion is fueled by factors such as increased internet and mobile device usage, technological advancements, improved logistics and delivery services, and the convenience of shopping from home. Quick Commerce provides rapid on-demand delivery of online goods and services, offering convenience and meeting immediate consumer needs. For example, data from the United States Department of Commerce in May 2021 revealed that e-commerce sales in the US reached $215 billion in the first quarter of 2021, marking a 7.7% increase compared to the previous quarter. Therefore, the growth of the e-commerce industry and online shopping is propelling the quick commerce market forward.

Key players in the quick commerce market are innovating platforms, such as real-time quick commerce advertising solutions, to enhance customer engagement and maintain a competitive edge. These solutions enable FMCG companies to promote products on on-demand delivery apps through real-time bidding. For instance, Delivery Hero SE, a Germany-based online food ordering company, partnered with CitrusAd, an Australia-based e-commerce ad-serving platform, in October 2022 to introduce Self-Service Quick Commerce Advertising Solutions. Through this collaboration, FMCG companies can utilize advanced AdTech tools to advertise products in real time on Delivery Hero's on-demand delivery apps, selecting different buying models such as cost-per-click and monitoring results instantly.

In June 2022, DoorDash Inc., a US-based food delivery company, acquired Wolt Enterprises Oy for an undisclosed sum. This acquisition allows DoorDash to expand its presence in multiple countries and scale its global operations while benefiting from Wolt's expertise in local commerce. It strengthens DoorDash's competitive position in the quick commerce market by enhancing its ability to provide on-demand food delivery services from restaurants. Wolt Enterprises Oy, headquartered in Finland, specializes in providing a platform for on-demand food delivery.

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.

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.

The countries covered in the quick commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Quick commerce represents a segment within the e-commerce industry specializing in the swift delivery of goods and services to customers, often within an hour or even minutes of placing an order. This typically involves the utilization of localized warehouses, advanced logistics, and delivery technologies to ensure rapidity and efficiency.

The primary products within quick commerce include food and groceries, stationery, personal care items, medicines, small electronics and accessories, clothing, household products, and others. Food and groceries encompass edible items and household essentials commonly purchased for consumption and daily living needs. The technology employed includes application-based operation, website-based operation, and hybrid operation, while payment modes may include cash on delivery and online transactions.

The quick commerce market research report is one of a series of new reports that provides quick commerce market statistics, including the quick commerce industry global market size, regional shares, competitors with the quick commerce market share, detailed quick commerce market segments, market trends, and opportunities, and any further data you may need to thrive in the quick commerce industry. These quick commerce market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The quick commerce market includes revenues earned by entities by providing services such as grocery delivery, medicines delivery, office supplies, and food delivery. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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