The adoption of artificial intelligence and the internet of things in B2B e-commerce trading, creative approaches to effectively trade food and beverage products, and increased export and import of various cleaning products drive the growth of the global FMCG b2b e-commerce market.
PORTLAND, Ore., Dec. 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "FMCG B2B e-Commerce Market by Product type (Home care, Food & Beverages, Personal care & cosmetics, Healthcare, Others), by End user (Offline retailers, Distributers, Food service, Specialty store, Hypermarket/Supermarket, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global FMCG B2Be-commerceindustry generated $520.8 billion in 2021, and is anticipated to generate $1220.5 billion by 2031, witnessing a CAGR of 9.0% from 2022 to 2031.
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Prime determinants of growth
The adoption of artificial intelligence and the internet of things in B2B e-commerce trading, creative approaches to effectively trade food and beverage products, and increased export and import of various cleaning products drive the growth of the global FMCG b2b e-commerce market. However,complicated internal logistics of the food and beverage supply chain restricts the market growth. Moreover, integration of new technologies tends to make the e-commerce experience seamless for both B2B consumers as well as sellers,which presents new opportunities in the coming years.
The personal care & cosmetics segment to maintain its leadership status throughout the forecast period
Based on product type, the personal care & cosmetics segment held the highest market share in 2021, accounting for more than one-fourthof the global FMCG B2Be-commerce market, and is estimated to maintain its leadership status throughout the forecast period.Moreover, the same segment is projected to manifest the highest CAGR of 9.6% from 2022 to 2031. This is majorly attributed to the change in buying patterns of consumers influencing demand as well as the growth of the market.Also, the population across the globe has been highly conscious about appearance and personal hygiene, thus creating demand for personal care products.
The offline retailers segment to maintain its lead position during the forecast period
Based on end user, the offline retailers segment accounted for the largest share in 2021, contributing to more than one-fourth of the global FMCG B2Be-commerce market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 9.7% from 2022 to 2031, owing to the benefits offered by the segment such as wide customer base, money value, variety, and low cost.
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Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global FMCG B2Be-commerce market, and is likely to dominate the market during the forecast period. Moreover, the sameregion is expected to witness the fastest CAGR of 9.6% from 2022 to 2031. Increase in spending capabilities. This is due to the widely scattered manufacturing units and businesses, prevalence of numerous B2B e-commerce sites that offers varieties of products to B2B consumers across the globe, and expansion of enterprises and development of technology in developing economies in the region.
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SOURCE Allied Market Research
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