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| Global Quick Commerce Market Growth |
The quick commerce market has witnessed significant growth over the past few
years as it provides hyperlocal delivery for a wide range of products within a
very short span. Quick commerce companies leverage their presence through
proximity to customers by establishing 'dark stores' or 'cloud stores' at strategic
locations that procure inventory, pick and pack orders and deliver within 30-45
minutes. The growing preference among customers for convenience and immediate
gratification coupled with the availability of on-demand services through
mobile applications is enabling the quick commerce market.
The Global Quick Commerce Market is estimated to be valued at US$ 44.81 Bn in
2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 To
2031.
Key players operating in the Global
Quick Commerce Market Growth are Shire Plc., CSL Limited, Octapharma
AG, LFB S.A., Biotest AG, Grifols, S.A., SK Plasma Co., Ltd., Baxter
International Inc., Green Cross Corporation, and Fusion Health Care Pvt. Ltd.,
among others.
Key Takeaways
Key players related content comprises key players related content (Key players
operating in the global quick commerce market are Shire Plc., CSL Limited,
Octapharma AG, LFB S.A., Biotest AG, Grifols, S.A., SK Plasma Co., Ltd., Baxter
International Inc., Green Cross Corporation, and Fusion Health Care Pvt. Ltd.,
among others.). The growing demand for immediate gratification is spurring
investments in quick commerce by key players.
Growing demand in the market is attributed to the preference for convenience
among customers along with the availability of a wide range of affordable
products through mobile applications. The ability to procure items of daily
needs like groceries, medicines, food items within minutes is fueling the
adoption of quick commerce services.
Global expansion of quick commerce market players is also evident through
investments and partnerships to leverage local infrastructure and build
scalable delivery capabilities. This enables market leaders to expand their
hyperlocal delivery capabilities across new geographies.
Market key trends
The hyperlocal delivery capabilities through proximity-based warehousing or
'dark stores' is a key trend enabling quick commerce market players to provide
greater delivery speeds within catchment areas. By establishing
micro-fulfilment centers strategically located close to customer neighborhoods,
quick commerce players are able to consolidate orders and deliver them within
30 minutes to compete effectively with traditional e-commerce models facing
longer delivery timelines.
Threat of new entrants: High investment required for infrastructure like warehouses, delivery fleet etc. act as barrier for new players. Bargaining power of buyers: Individual customers have low bargaining power due to multiple options available but large retailers have moderate power due to their scale. Bargaining power of suppliers: Key suppliers like pharmaceutical companies have moderate power due to their specialized products and capabilities. Threat of new substitutes: Threat is low as plasma-derived products have limited substitutes available for treatments. Competitive rivalry: Intense competition exists among established players to gain market share through product innovation, geographical expansion and customer acquisition.
Geographical regions with high market share
North America region currently holds the highest market share in terms of value owing to increasing demand for plasma-derived products and strong healthcare infrastructure. The availability of advanced healthcare facilities and growing patient awareness levels have boosted the regional market growth.
Fastest growing region
Asia Pacific region is expected to witness the fastest growth during the forecast period. This can be attributed to rising disposable incomes, growing prevalence of chronic diseases and improvement in healthcare access across emerging nations such as India and China. Increasing focus of leading manufacturers on tapping opportunities in developing APAC countries will further support the regional market expansion.