Global C2C E-commerce Market Size Forecast 2024 - 2033
23 Dec, 2024
What Is The Scope Of The Global C2C E-commerce Market?
C2C e-commerce, or consumer-to-consumer e-commerce, refers to the purchase and sale of products or services by individual customers using online platforms or marketplaces. It enables peer-to-peer transactions by allowing people to participate as both buyers and sellers. C2C e-commerce aims to build a virtual marketplace where people may connect, trade, and exchange goods or services without the need for middleman businesses.
C2C E-commerce Global Market Report 2024 provides data on the global c2c e-commerce market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The c2c e-commerce market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global C2C E-commerce Market?
The C2C e-commerce market has expanded exponentially, increasing from $2,003.69 billion in 2023 to $2,490.06 billion in 2024, achieving a CAGR of 24.3%. This growth has been driven by increased internet and smartphone penetration, online shopping trends, the sharing economy, social media platform expansion, consumer preference for variety, and online marketplace convenience. The market is expected to reach $5,983.83 billion by 2028, with a CAGR of 24.5%. Future growth will be driven by cross-border transactions, mobile payment adoption, the popularity of niche products, influencer marketing, sustainability, and consumer protection measures. Trends include social commerce platforms, user-generated content, niche marketplaces, secure payment gateways, AI adoption, cross-border trade expansion, and sustainability integration.
What Are The Core Factors Supporting Growth In The C2C E-commerce Market?
The growing adoption of online payment methods is expected to boost the C2C e-commerce market. Online payments allow individuals and businesses to conduct transactions over the internet and are becoming more common due to the rise in mobile usage, increased internet accessibility, and enhanced security. These payment systems reduce manual intervention, streamline operations, and extend the reach of C2C platforms to a global audience. For instance, a report from Electronic Payments International in September 2023 revealed that digital payments in the UK increased by 13% in 2022, while contactless payments rose by 30%. Nearly a third of adults in the UK are registered for at least one mobile payment service. Thus, the increasing adoption of online payment methods is contributing to the growth of the C2C e-commerce market.
Get Your Free Sample of the Global C2C E-commerce Market ReportWhat Are The Major Segments Within The Global C2C E-commerce Market?
The C2C e-commerce market covered in this report is segmented –
1) By Type: B2C Retailers, Classifieds
2) By Platform: Web-based, Mobile Application
3) By Application: Automotive, Beauty And Personal Care, Books And Stationery, Consumer Electronics, Clothing And Footwear, Home Décor And Electronics, Sports And Leisure, Travel And Tourism, Media And Entertainment, Information Technology (Software)
Which Trends Are Expected To Transform The C2C E-commerce Market?
Companies in the C2C e-commerce market are emphasizing strategic partnerships to gain a competitive edge. These collaborations help expand the reach, improve offerings, and enhance the user experience. Through these partnerships, companies combine expertise and resources to create a more robust and comprehensive e-commerce ecosystem. For example, in February 2022, valU, an Egypt-based fintech platform, and PayTabs Egypt, a payment processing company, teamed up with Mazadat, an Egypt-based C2C e-commerce provider, to improve payment solutions and services within the entertainment and e-commerce sectors. This partnership allows Mazadat’s users to access valU's BNPL services for C2C and B2C e-commerce and process payments via PayTabs Egypt's gateway, marking valU's entry into the C2C e-commerce market at a critical time during the boom in online shopping and technology adoption.
What Is The Fastest Growing Region In The C2C E-commerce Market?
North America was the largest region in the C2C E-commerce market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the C2C E-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.