Global Cross-Border B2C E-Commerce Market Insights Forecasts to 2032
- The Global Cross-Border B2C E-Commerce Market Size was valued at USD 893.95 Billion in 2022.
- The Market is Growing at a CAGR of 24.7% from 2022 to 2032.
- The Worldwide Cross-Border B2C E-Commerce Market is expected to reach USD 8,138.31 Billion by 2032.
- North America is expected to Grow the fastest during the forecast period.
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The Global Cross-Border B2C E-Commerce Market Size is expected to reach USD 8,138.31 Billion by 2032, at a CAGR of 24.7% during the forecast period 2022 to 2032.
Selling goods or services across international borders through a digital platform is referred to as cross-border B2C e-commerce. In contrast to the conventional consumer goods sector, e-commerce can enter revolutionary and rising areas with relatively less expenditure. Cross-border B2C E-commerce allows simultaneously the buyer and seller to expand their customer base because buyers have more purchasing options at reasonable prices and the vendor has an extensive customer base. As a result, this is one of the market's primary driving forces.
Cross-border B2C e-commerce enables businesses to conduct transactions directly with buyers using cross-border e-commerce platforms, thereby avoiding needing third-party links and additional related expenses. In simple terms, cross-border B2C e-commerce platforms have calibrated the global commerce procedure by eliminating the need for third parties and facilitating data transfer, payments, and products and services between businesses from various nations. As a result, it is a favored method for many companies to establish a foothold in numerous global marketplaces by offering goods and services originating from the company's home country to clients living overseas.
The major players in the cross-border B2C e-commerce market include Amazon, eBay, Alibaba Group, Paypal, Fruugo, JD.com (JingDong), DHL Group, BoxMe, Anchanto, Joom, Pinduoduo, Shein. Partnerships, mergers and acquisitions, and other strategic alliances are among the business strategies being considered by industry leaders to expand their market reach. To expand their cross-border e-commerce operations and solutions, major global e-commerce platforms also focus on commercial agreements and collaborations with tech-enabled cross-border e-commerce shipment solution vendors.
For instance, On May 2023, Floship and Zonos just announced a collaboration to offer the logistics industry's most comprehensive e-commerce fulfillment solution, which includes the presentation, payment, and collection of customs and taxes for cross-border e-commerce shipments. By collaborating, Floship and Zonos' entire solution enables e-commerce merchants and logistics service providers to significantly minimize late or rejected shipments by automating many of these labor-intensive activities.
Global Cross-Border B2C E-Commerce Market Report Coverage
|Market Size in 2022:||USD 893.95 Billion|
|Forecast Period 2022-2032 CAGR:||24.7%|
|2032 Value Projection:||USD 8,138.31 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Payment Method, By Offering, By Category, By Region, and COVID-19 Impact Analysis|
|Companies Covered:||eBay Inc., ASOS, Jingdong JD.com, Fruugo.com Ltd., Apple Inc., BoxMe, Joybuy.com, Fruugo.com Ltd., Veepee, Rakuten, Anchanto Pte. Ltd., pinduoduo.com, SIA Joom (Latvia), Zalando, DHL Group, Amazon.com, Inc., Alibaba Group Holding Limited, Deutsche Post DHL Group|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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E-commerce has gained traction in the worldwide marketplace as a result of the Internet's accessibility and popularity among audiences, as well as the evolution of information technology (IT). When opposed to solely shopping from local businesses, buying and selling products electronically from another country offers several benefits. Buyers now have instant access to a wide range of products and vendors from around the globe. Product and purchasing information are becoming less asymmetric. In many nations with a B2C model, cross-border e-commerce (CBEC) has become a critical passage of foreign trade. With the broad functioning of the cross-border e-commerce market in several nations, which required less time and money, it has produced great competition among sellers, resulting in consumers receiving premium goods and amenities from this highly competitive marketplace. Furthermore, shifts in consumer purchasing patterns globally have put pressure on businesses to actively pursue e-commerce options.
Furthermore, the increasing globalization development, improvements to foreign trade policies, and privatization have all contributed important roles in boosting the cross-border B2C e-commerce market globally. The market is also being driven by increasing demand for online buying as a result of the impact of social media on customers' purchasing patterns. With the development of leading-edge e-commerce technology such as e-wallets for making secure online payments, the market's potential for expansion cross-border B2C e-commerce has expanded. Furthermore, free trade agreements and industrialization with beneficial Foreign Direct Investment (FDI) policies are likely to boost the cross-border B2C e-commerce market. As a result, customers experience convenient shopping at low prices, which bodes well for the growth of the cross-border B2C e-commerce market expansion.
In addition, the global surge in online sales volume has put an enormous strain on global supply systems. As a result, several manufacturers, logistics companies, and other distribution channels have formed to fill the supply chain gaps of e-commerce transactions both locally and globally.
However, there are significant problems that are impeding the expansion of the cross-border B2C e-commerce business, which include the unpredictability of foreign trade policies, a lack of sufficient infrastructure, and a lack of global e-commerce policies. The global growth of cross-border B2C e-commerce necessitates a grasp of the fraud profiles of the nations where businesses find to offer services, as well as a comprehension of buying behavior and customer financing inclinations in these nations. Fraudsters are targeting new sales channels and payment mechanisms as they are introduced. As a result, effective fraud prevention techniques are essential. As m-commerce expands around the globe, more fraudsters are likely to target this type of transaction. Despite risk factors and complexities, mobile commerce and international e-commerce provide online merchants with a distinct and appealing potential. When dealing with the cross-border B2C market, the two main challenges for sellers are logistical and shipping issues. There is a requirement to overcome rising prominent factors such as long transportation times, expensive shipping charges, and poor return solutions. As a result, all parties involved, such as governments, merchants, and service providers, must maintain international collaboration. As a result, these factors restrain the expansion of the cross-border B2C e-commerce industry.
By Payment Method Insights
The digital wallets segment is dominating the market with the largest revenue share over the forecast period.
On the basis of payment methods, the global cross-border B2C e-commerce market is segmented into digital wallets, credit/debit cards, internet banking, and others. Because of the increasing popularity of online payments, the digital wallet segment is dominating the market with the highest revenue share of 48.6% over the forecast period. The majority of consumers are turning cashless and using digital wallets to make payments. The emergence of international B2C payment channels via digital wallets is projected to propel the market further. In addition, the growth of several digital wallet providers is likely to present a variety of prospects for the category to expand globally with higher financial accessibility. Furthermore, digital wallets can be utilized by both young and old people, fueling the expansion of the digital wallets segment in the cross-border B2B e-commerce market.
By Offering Insights
The assorted brands segment is witnessing significant CAGR growth over the forecast period.
On the basis of offering, the global cross-border B2C e-commerce market is segmented into in-house brands and assorted brands. Among these, assorted brands are witnessing significant CAGR growth over the forecast period. This expansion might be ascribed to the wide range of items available to consumers in the cross-border e-commerce sector. As a result, a wide range of product lines is now available globally, enticing people to purchase according to their interests. Furthermore, the greater requirement for numerous products during the covid-19 pandemic has driven up demand for many brands. As the public prefers online shopping for various products, food and beverages, and clothing, the assorted brand segment will continue to rise in the coming years, driving the expansion of the assorted brand segment throughout the projected period.
By Category Insights
The apparel & accessories segment accounted for the largest revenue share of more than 32.7% over the forecast period.
On the basis of category, the global cross-border B2C e-commerce market is segmented into apparel & accessories, food & beverage, entertainment & education, healthcare & nutrition, consumer electronics, home furnishing, personal care & beauty, and others. Among these, discrete industries are dominating the market with the largest revenue share of 32.7% over the forecast period. The rise of global economic activity has increased demand for online apparel and accessory purchasing via e-commerce platforms, which is likely to boost the expansion of the segment. Furthermore, as a result of greater global competition, consumers benefit from better product selection and deals. Moreover, the growing usage of modern technology in B2C transactions and the evolving global purchasing ecosystem bode favorably for cross-border B2C e-commerce market expansion.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 38.7% market share over the forecast period, owing to the region's enormous demographic. The growing use of smartphones and rising internet connectivity in emerging markets contribute to the enormous cross-border B2C e-commerce market share. The industry's expansion is also aided by the population's increased disposable income, rapid urbanization, and rising living standards. Countries with rapid growth such as South Korea, India, Japan, and China are especially responsible for cross-border B2C e-commerce market expansion. Furthermore, the region's growing international commercial relations are likely to drive regional growth. The growth of e-commerce operations in the categories of products with the greatest demand, such as clothing and apparel, toys, personal care and cosmetics, and books and media, continues to grow in popularity in the Asia Pacific region during the forecast period. In addition, the rich and middle-class populations are rapidly embracing online shopping methodologies.
North America, on the contrary, is expected to grow the fastest during the forecast period. This expansion is due to an increase in demand for economically cost, premium goods. Furthermore, the high Price Level Index (PLI) in this region adds greatly to regional market growth by allowing people to browse for a product at an accessible price. Furthermore, Amazon is one of the largest cross-border B2C E-commerce companies in North America, as well as the third largest internationally. Despite Amazon's outstanding performance, US e-tailers are gradually losing traction in cross-border e-commerce. In 2022, the United States accounted for only 10% of survey respondents most recent cross-border online purchases.
The Europe market is expected to register a substantial CAGR growth rate during the forecast period. Furthermore, during the worldwide pandemic, Germany gained ground, growing to 14% of buyers' most recent cross-border purchases. This is an increase from 12% in 2019. The United Kingdom traveled on the contrary course of action, dropping from 13% in 2019 to 10% in 2022. Due to an ever-growing younger demographic and a quickly changing e-commerce market, the Middle East, Africa, and Latin America are projected to see considerable growth in the future years.
List of Key Market Players
- eBay Inc.
- Jingdong JD.com
- Fruugo.com Ltd.
- Apple Inc.
- Fruugo.com Ltd.
- Anchanto Pte. Ltd.
- SIA Joom (Latvia)
- DHL Group
- Amazon.com, Inc.
- Alibaba Group Holding Limited
- Deutsche Post DHL Group
Key Market Developments
- On May 2023, ESW and FedEx Express have joined forces to offer integrated e-commerce and shipping capabilities to European firms aiming to accelerate their growth through selling and shipping. This agreement provides businesses with a one-stop solution that combines ESW's technology and localization with a logistics service for European-based brands using a capital-light approach and a single integration.
- On March 2023, Shiprocket X, a Shiprocket cross-border shipping product, recently revealed a collaboration with eBay, a worldwide e-commerce leader, to deliver cross-border e-commerce solutions for Indian SMEs. The collaboration seeks to give Indian eBay sellers with cost-effective and seamless cross-border shipping solutions by merging 'eBay Global Shipping' (EGS) and Shiprocket X.
- In October 2022, Aramex PJSC, a leading global provider of comprehensive logistics and transportation solutions, announced the completion of its acquisition of Access USA Shipping, LLC ("MyUS"), a global technology-driven platform that enables cross-border e-Commerce, for an all-cash purchase price of approximately USD $265 million. The acquisition will help Aramex's cross-border express business by increasing cargo volumes, extending and diversifying its customer base, and expanding coverage to new origins and destinations.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Cross-Border B2C E-Commerce Market based on the below-mentioned segments:
Cross-Border B2C E-Commerce Market, Payment Method Analysis
- Digital Wallets
- Credit/Debit Cards
- Internet Banking
Cross-Border B2C E-Commerce Market, Offering Analysis
- In-house Brands
- Assorted Brands
Cross-Border B2C E-Commerce Market, Category Analysis
- Apparel & Accessories
- Food & Beverage
- Entertainment & Education
- Healthcare & Nutrition
- Consumer Electronics
- Home Furnishing
- Personal Care & Beauty
Cross-Border B2C E-Commerce Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of the Cross-Border B2C E-Commerce market?The Global Cross-Border B2C E-Commerce Market is expected to grow from USD 893.95 billion in 2022 to USD 8,138.31 billion by 2032, at a CAGR of 24.7% during the forecast period 2022-2032.
2. Which are the key companies in the market?Zalando, DHL Group, Amazon.com, Inc., Alibaba Group Holding Limited, Deutsche Post DHL Group, eBay Inc., ASOS, Jingdong JD.com, Fruugo.com Ltd., Apple Inc., BoxMe
3. Which segment dominated the Cross-Border B2C E-Commerce market share?The apparel & accessories segment in category type dominated the Cross-Border B2C E-Commerce market in 2022 and accounted for a revenue share of over 32.7%.
4. Which region is dominating the Cross-Border B2C E-Commerce market?Asia Pacific is dominating the Cross-Border B2C E-Commerce market with more than 38.7% market share.
5. Which segment holds the largest market share of the Cross-Border B2C E-Commerce market?The digital wallets segment based on payment methods type holds the maximum market share of the Cross-Border B2C E-Commerce market.
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