SAN FRANCISCO, Sept. 20, 2022 /PRNewswire/ -- The global cross-border B2C e-commerce market size is expected to reach USD 5,576.73 billion by 2030, expanding at a CAGR of 25.8% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growth is anticipated to be fueled by changing consumer buying habits, a growing urban population, and growing consumer awareness about e-commerce. As a result, customers are more likely to purchase goods from well-known international companies, frequently making more online purchases, a key factor driving the industry growth.
Key Industry Insights & Findings from the report:
- The assorted brands segment is anticipated to witness the fastest growth over the period. The segment is growing due to changing customer expectations and behaviors about online buying
- The digital wallets segment is expected to witness the fastest growth over the forecast period. The launch of global B2C payment platforms via digital wallets is anticipated to fuel the segment's expansion
- The apparel & accessories segment is estimated to dominate the market in 2021 and is expected to continue its dominance over the forecast period. The growing demand for online shopping of fashion clothing and accessories is anticipated to significantly boost the growth of the apparel & accessories segment
- Asia Pacific is expected to register rapid growth during the forecast period. The large consumer base in the region is anticipated to augment the growth during the forecast period
Read 130-page full market research report, "Cross-border B2C E-commerce Market Size, Share & Trends Analysis Report By Offering, By Payment Method (Digital Wallets, Credit/Debit Cards, Internet Banking), By Category, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Cross-border B2C E-commerce Market Growth & Trends
The introduction of modern e-commerce technology and the availability of protected payment alternatives and online transactions are expected to propel market growth. Furthermore, with the prevalence of social media applications, many marketing alternatives are available today, supporting the expansion of the global cross-border B2C e-commerce industry. The growing significance of online marketing platforms such as Google and Facebook ads fuel the growth.
Cross-border e-commerce platforms offer ways for Small & Medium enterprises (SMEs) to develop by presenting access to a global and domestic customer base. For instance, nearly 70% of American SMEs utilize their web store or third-party online marketplace, according to Data Catalyst, with the bulk of those businesses opting to use several marketplaces. Therefore, the increasing demand for these services to connect customers with suppliers, make ordering more accessible and manage the delivery of items is expected to boost the market landscape over the forecast period.
The COVID-19 outbreak has contributed positively to the industry's growth as consumers prefer product purchases and transactions online. Moreover, e-commerce innovations have also facilitated quick online purchases. For instance, according to data insight from PayPal, through the deployment of innovative and secure e-commerce platforms, UPS and PayPal saw double-digit growth in their cross-border shipping business by the middle of 2020.
Cross-border B2C E-commerce Market Segmentation
Grand View Research has segmented the global cross-border B2C e-commerce market based on offering, payment method, category, and region:
Cross-border B2C E-commerce Market - Offering Outlook (Revenue, USD Billion, 2017 - 2030)
- In-House Brands
- Assorted Brands
Cross-border B2C E-commerce Market - Payment Method Outlook (Revenue, USD Billion, 2017 - 2030)
- Digital Wallets
- Credit/Debit Cards
- Internet Banking
- Others
Cross-border B2C E-commerce Market - Category Outlook (Revenue, USD Billion, 2017 - 2030)
- Entertainment & Education
- Apparel & Accessories
- Consumer Electronics
- Home Furnishing
- Personal Care & Beauty
- Healthcare & Nutrition
- Footwear
- Food & Beverage
- Others
Cross-border B2C E-commerce Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- South Korea
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
- The UAE
- Saudi Arabia
List of Key Players in the Cross-border B2C E-commerce Market
- Amazon.com, Inc.
- Alibaba Group Holding Limited
- eBay Inc.
- ASOS
- Jingdong JD.com
- Fruugo.com Ltd.
- Veepee
- Rakuten
- SIA Joom (Latvia)
- Zalando
Check out more related studies published by Grand View Research:
- B2C E-commerce Market - The global B2C e-commerce market size is anticipated to reach USD 7.65 trillion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.7% over the forecast period. The increasing disposable income level, escalating usage of internet and smartphones, and an increasing number of online shoppers are expected to drive the market growth.
- E-commerce Market - The global e-commerce market size is anticipated to reach USD 27.15 trillion by 2027, expanding at a CAGR of 14.7% from 2020 to 2027, according to a study conducted by Grand View Research, Inc. The significant traction achieved by the e-commerce industry over the past years is a testimony to how the internet has transformed the way people sell and buy goods and services.
- B2B E-commerce Marketplaces By Power Tools & Accessories Market - The global B2B e-commerce marketplaces by power tools & accessories market size is projected to reach USD 15.11 billion by 2028, expanding at a CAGR of 18.1% from 2021 to 2028, according to a new report by Grand View Research, Inc. The outbreak of the COVID-19 pandemic is prompting both buyers and sellers to consider third-party digital channels to buy and sell power tools, thereby driving the growth of the market over the forecast period.
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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