Global Q-Commerce Market is expected to foresee significant growth. North America to grow at a significant CAGR!
- Vikas Kumar
- August 13, 2022
- CONSUMER GOODS, NEWS
- Q-Commerce Market, Q-Commerce Market Forecast, Q-Commerce Market Growth, Q-Commerce Market News, Q-Commerce Market Share, Q-Commerce Market Size, Q-Commerce Market Trend
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Q-commerce emerged from the already successful trend of e-commerce which consisted of an online ordering system, and delivery would take at least two to three days. Q-commerce (quick commerce), also called on-demand delivery, built upon the notion of e-commerce but exponentially changed the delivery duration from a couple of days to a couple of hours. The deliveries are made within the next hour or so. It is an expeditious way of making purchases online. The purchases can be groceries, household items, frozen food, or electronic gadgets. Therefore q-commerce is also conveniently called e-grocery.
The Q-Commerce Market is expected to grow at a steady rate of around 47% owing to the rising adoption of e-commerce coupled with the growing online grocery & fast delivery options. Furthermore, the outbreak of COVID-19 has positively influenced the market size of q-commerce in 2020. Despite the lockdown restriction, the shutdown of manufacturing facilities and various industries. Essential services such as groceries, medicines, and food products can be purchased for limited hours in a day to maintain social distancing.
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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. The shift in consumer behavior from value-seeking to convenience-seeking results in frequent small-size purchases versus larger, monthly purchases is positively influencing the adoption of q-commerce.
Based on service, the market is segmented into startups, aggregators, and retailers. Startups held a significant share in the market and are expected to witness strong growth during the forecast 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.
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For a better understanding of the market adoption of the q-commerce industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held a prominent share of the market and is further expected to grow at an influential growth rate. This is mainly due to the supportive government initiatives, acceleration in the grocery and food delivery market, and growing adoption of e-commerce. 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.
Some of the major players operating in the market include GoPuff, Gorillas, Flink, Getir, Uber Eats, Deliveroo, Instacart, Tesco’s Whoosh, Zomato, and Delivery Hero
Global Q-Commerce Market Segmentation
Market Insight, by Type
- Grocery
- Food
- Others
Market Insight, by Service
- Startup
- Aggregator
- Retailer
Market Insight, by Region
- North America
- US
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- GoPuff
- Gorillas
- Flink
- Getir
- Uber Eats
- Deliveroo
- Instacart
- Tesco’s Whoosh
- Zomato
- Delivery Hero
