Market Overview:
According to Fortune Business Insights Global Quick Commerce Market size hit USD 170.80 billion in 2024. The market is slated to rise from USD 184.55 billion in 2025 to USD 337.59 billion by 2032, exhibiting a CAGR of 9.01% over the forecast period.
Quick commerce refers to the delivery of high-demand products such as ready-to-eat meals, groceries, and personal care items, in under 30 minutes. The debut of advanced technologies, such as real-time inventory management and AI-powered route optimization, in this sector is anticipated to provide new growth opportunities to industry players.
Competitive Landscape:
Leading Corporations to Gain Edge via Merger and Acquisition Strategies
The market is fiercely competitive, with both global and regional players fighting to gain a substantial share. Acquisitions and mergers can be observed throughout the global market which has helped leading companies to be a key differentiator. Moreover, industry participants are also gaining huge funding to cement their position in the regional market.
List of Key Players Mentioned in the Report:
- Getir (Turkey)
- Blinkit (India)
- GoPuff (U.S.)
- Flink (Germany)
- Swiggy Instamart (India)
- Zapp (U.K.)
- Dunzo (India)
- Glovo (Spain)
- Zepto (India)
- JOKR (U.S.)
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Segmentation:
Cashless Segment Held Key Share in 2024 Owing to Escalation in Digital Transactions
Based on mode of payment, the market is subdivided into cashless payments and cash on delivery. In 2024, the cashless segment recorded a leading market share and is anticipated to dominate the global market over the projection period. The rise in digital transactions with a surge in the numerous modes of cashless payments, including debit cards, credit cards, UPI apps, internet banking, and mobile banking, is anticipated to propel segmental expansion.
Grocery Segment Registered Prominent Market Share Driven by Reliance of Urban Consumers on Quick Home Delivery
On the basis of product, the market is categorized into groceries, beauty & personal care, fresh food & beverages, electronics & toys, and others. The grocery segment accounted for a dominating quick commerce market share in 2024 considering the reliance of urban consumers on quick home delivery for last-minute requirements.
Mobile Application Segment Garnered Major Share Fostered by High Smartphone Penetration
By channel type, the market is fragmented into web portals and mobile applications. In 2024, the mobile application segment registered a key market share impelled by easy internet accessibility and high smartphone penetration.
Based on geography, the market has been studied across North America, Europe, Asia Pacific, and the rest of the world.
Report Coverage:
The report presents an analysis of the quick commerce industry based on mode of payment, product, channel type, and region. It further gives an account of the major steps adopted by leading companies to strengthen their market positions. The key factors set to drive market expansion and the prominent industry trends have also been mentioned in the report.
Drivers and Restraints:
Surging Consumer Demand for Speed and Convenience to Propel Industry Expansion
The escalation of working professionals, busy lifestyles, and an increase in urbanization are poised to drive the demand for convenient and faster product delivery. The model is suitable for people in urban areas. Furthermore, these companies provide discounts that cannot be matched by offline stores. The consumer demand for speedy product delivery is anticipated to drive quick commerce market growth.
Nevertheless, the high costs of operating these companies may create challenges for industry expansion.
Regional Insights:
North America Held Key Share Fueled by Mounting for Rapid Delivery of Household Essentials
In 2024, North America recorded a dominant share owing to the rising demand for the ultra-fast delivery of household essentials, groceries, and convenience items. The regional market is characterized by an emphasis on urban areas, technology integration, a wide range of product categories, and strategically located dark stores.
The Asia Pacific quick commerce market is slated to depict the highest CAGR over the analysis period driven by the escalated usage of digital wallets and the high penetration of smartphones. Besides, the region exhibits surging urbanization and high population density.
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Key Industry Development:
September 2024 – Flink raised a funding of USD 150 million intending to double its business in the Netherlands and Germany in collaboration with Just Eat Takeaway. The investors of the funding comprise Mubadala, BOND, Northzone, REWE, and two others.
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