Countries Covered: China, South Korea, Japan, Australia, India, Singapore.
Publication Date: 23/08/2023
Questions Covered in the Report:
- Which country is projected to lead global B2C E-Commerce sales value by 2025?
- How is the Asia-Pacific B2C E-Commerce market value projected to grow by 2027?
- What are the major trends in B2C E-Commerce specific in the Asia-Pacific region?
- How will Australia’s B2C E-Commerce market value change from 2023 to 2027?
- What is the forecasted CAGR for the B2C E-Commerce market in Singapore from 2023 to 2027?
The B2C E-Commerce market in Asia-Pacific is projected to surpass EUR 4 trillion by 2027, displaying a significant B2C E-Commerce market growth potential: new yStats.com report.
Asia-Pacific emerges as a driving force in B2C E-Commerce
The B2C E-Commerce market has witnessed remarkable growth worldwide, particularly during the pandemic years, as online shopping adoption surged. According to yStats.com’s report, this exceptional growth peaked during the pandemic but later subsided, leading to single-digit percentage sales growth in 2022. Nevertheless, the B2C E-Commerce market’s upward trajectory is set to continue, albeit at a moderated annual growth rate projected to remain in single digits by 2026. While developed markets like the U.S. and Europe are expected to experience slower growth in the B2C E-commerce sector, Southeast Asia’s retail E-commerce sales are anticipated to maintain a double-digit CAGR from 2022 to 2026, reaching over EUR 170 billion by 2026. In 2022, the Asia-Pacific region exhibited the highest B2C E-commerce sales value, surpassing North America and Western Europe. Additionally, Asia-Pacific accounted for nearly half of the global B2C E-commerce sales value in 2022, with North America comprising around one-third and Western Europe constituting one-tenth of the global sales value. Moreover, it is projected that by 2025, China’s B2C E-commerce sales value will approach USD 1 trillion, significantly overshadowing the figures for the U.S. and Europe.
Australia’s B2C E-Commerce market is projected to grow significantly by 2027
Within the Asia-Pacific region, Australia stands out as a pivotal player in the B2C E-Commerce landscape. The report highlights that the B2C E-Commerce market in Australia is forecasted to achieve substantial growth, reaching more than EUR 60 billion by 2027. This steady growth trajectory underscores Australia’s position as a vibrant and evolving market within the global E-Commerce ecosystem. As digitalization accelerates and consumer behaviors shift, Australia’s B2C E-Commerce market is expected to embrace innovative technologies, such as augmented reality, AI-driven recommendation engines, and seamless social commerce experiences. These advancements promise to reshape the shopping journey, offering heightened personalization and convenience to consumers while presenting new opportunities for businesses to thrive.