Cross-border e-commerce refers to the transnational and international exchange of commodities through online stores run by retailers and brands where customers can buy items and have them shipped outside the base of the sellers.
The size of the worldwide B2C cross-border e-commerce market in 2021 was US$ 765.73 billion. By 2030, the size of the worldwide cross-border B2C e-commerce industry is anticipated to reach US$ 6,209.29 billion, expanding at a compounding yearly growth rate (CAGR) of 26.2% from 2022 to 2030.
The B2C e-commerce market in the Middle East and Africa is anticipated to increase by 22.38% yearly to reach US$104.1 billion in 2022. While it is anticipated that the B2C e-commerce sector in India will grow to $98.4 billion by 2023. The main product categories in this industry that are booming are entertainment & education, consumer electronics, home furnishings, personal care & beauty, healthcare & nutrition, footwear, food & beverage, and others. Apparel and accessories now hold the biggest market share.