by The Europe quick e-commerce (quick commerce) market is estimated to be valued at US$ 4.85 billion in 2022 and is expected to exhibit a CAGR of 38.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Quick commerce refers to the delivery of ready-to-cook meals and essential household goods within a few minutes of ordering through a mobile application. Quick commerce startups fulfill orders from micro-fulfillment centers located close to customers to enable hyper-local deliveries. The rise of online shopping amidst the pandemic has fuelled the growth of quick commerce in Europe as consumers demand seamless delivery experience within a short span of time.
Market Dynamics:
The Europe quick commerce market is driven by the rising adoption of on-demand delivery services among consumers. The increasing penetration of smartphones and growth of e-commerce platforms have made online shopping extremely convenient. This has boosted the popularity of quick commerce as customers no longer have to wait for a day or two to receive their purchases. Additionally, surging investments in quick commerce startups is also propelling the market growth. Several venture capital funds are investing heavily in quick commerce companies to help them expand operations through new warehouses and bolster their delivery fleets. Furthermore, growing emphasis on reducing carbon footprint is encouraging consumers to opt for quick local deliveries instead of bulk orders. This is expected to have a positive impact on the demand for quick commerce solutions across Europe over the coming years.
Segment Analysis
The Europe Quick E-Commerce (Quick Commerce) market is dominated by the groceries segment. This segment accounted for around 40% share of the overall market in 2023. The high demand can be attributed to the increasing preference of consumers towards availing daily essentials like fruits & vegetables, instant food items, beverages through online quick delivery platforms.
PEST Analysis
Political: The regulations imposed by governments across Europe regarding hyper-local delivery operations favor the growth of quick commerce players.
Economic: The rising spending power of consumers along with high smartphone and internet penetration in Europe creates opportunities for quick commerce platforms.
Social: Changing buying patterns and preference for doorstep delivery among Gen Z and millennials is driving the demand for quick commerce services.
Technological: Adoption of technologies like AI, IoT, analytics help quick commerce players to optimize delivery operations and provide superior customer experience.
Key Takeaways
The Europe Quick E-Commerce (Quick Commerce) Market Size Share is expected to witness high growth, exhibiting a CAGR of 38.5% over the forecast period 2023-2030. This can be attributed to growing preference of European consumers for instant grocery delivery amid busy lifestyles. The market size is projected to reach US$ 115.65 billion by 2030 from US$ 4.85 billion in 2023.
Regional analysis: Among regions, Western Europe dominates the Europe Quick Commerce market and is expected to grow at a high pace during 2023-2030. UK and Germany capture major market share in Western Europe due to high adoption of online grocery platforms among consumers in these countries.
Key players: Key players operating in the Europe Quick Commerce market are Getir, Gorillas, Gopuff, Just Eat Takeaway, Delivery Hero, Jokr, Flink, Zapp, Uber Eats, Wolt, Bolt, Deliveroo. Among these, Gorillas and Getir have established strong foothold across major European markets due to their ultrafast delivery capabilities within 10-15 minutes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
