Subscription E-commerce Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2019-2025)
As per the research report, Global Subscription E-commerce Market was valued at US$ 13.2 billion in 2018 and is anticipated to reach US$ 478.2 billion by 2025 displaying explosive CAGR of 68.0% over the forecast period (2019-2025). Subscription e-commerce industry has evolved over the past few years. Ever since its inception, the sector has experienced tremendous growth and popularity and have become increasingly competitive. Considering the subscription-based services, the idea is mainly based on selling product or service on monthly or yearly recurring basis. The business model mainly aims to focus on customer retention over customer acquisition wherein revenue is made in a way that the existing or a regular customer pays multiple payments to have prolonged access to a good or service. According to the survey, it has been estimated that in 2018, subscription-based company websites had about 776 million visitors globally. With approximately 5.7 million customers subscribing the service be it entertainment, food & beverage, healthcare and others. In addition, with over 2,000 subscription-based service providers, the market is gearing up with a purpose to cater to the growing young population across all the domains.
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With the consistent and surging world as well as young population paired with simultaneous increase in the disposable income along with changing lifestyles the demand for subscription-based services is expected to take a toll in years to come. Moreover, surging penetration of internet services and launch of various mobile applications by subscription-based companies has further catalysed the market potential of such services. It has been observed that subscription-based service constitutes to be a small trend within e-commerce and is expected to remain niche for next few years. With the prime location being United States comprising of almost 70% of the subscription-based companies, the market has driven considerably on a positive note. In addition, led by numerous start-ups ranging from Dollar Shave Club, Blue Apron meal kits, subscription e-commerce industry is growing at a fast pace and has become an innovative way of buying online. Subscription based services are targeted towards younger and affluent urbanites who demand convenient, personalized product and services often at a lower cost as per their needs and specifications.
Fuelled by growing investments by venture capitalists and emerging start-ups, business has been launched in wide range of categories such as beer and wine, kids and baby items, cosmetics, feminine products, pet foods, women and men apparel and health items among others. However, high churn rates and huge cancellation rate by consumers along with lack of awareness among the developing nations constitute as some of the obstacles in the growth path of subscription e-commerce market. Strong growth in subscription e-commerce market has attracted various established consumer brand manufacturers and retailers, which have also entered the space; P&G (Gillette on Demand), Sephora (Play!), and Walmart (Beauty Box) have all launched new subscription businesses to name a few.
For Regional/country wise analysis of the overall adoption of Subscription based service browse through - https://univdatos.com/report/subscription-e-commerce-market-current-scenario-and-forecast-2019-2025
“Subscription services subscribed by Women is expected to dominate subscription e-commerce market during the analyzed period.”
Global subscription e-commerce market is segmented based on end users such as women and men and kids. The women as end users occupy largest share and is expected to maintain its dominance throughout the forecasted period 2019-2025. Owing to increasing presence of startups catering to feminine products and cosmetics along with jewellery and accessories, market has boosted considerably.
“Amongst applications, beauty and personal care tends to conquer the market during the forecast period.”
The study further bifurcates the subscription e-commerce market into different applications including, beauty and personal care, clothing and fashion, entertainment, health and fitness, food and beverage and other applications. Beauty and personal care hold the largest share in global subscription e-commerce market. As beauty and personal care application has already experienced explosive growth among young and new brands, it is also witnessing spurring preferences for subscription among the women folk.
For analysis of the overall development in the Subscription E-commerce industry browse through - https://univdatos.com/report/subscription-e-commerce-market-current-scenario-and-forecast-2019-2025
“North America 68% share dominates the market in terms of revenue sales for subscription-based products”
For a deep dive analysis of the industry, the study also includes regional and country level analysis. The report comprises regions including North America, Europe, Asia Pacific and rest of world. North America dominated the market, majorly driven by widespread adoption of subscription-based services in the United States and numerous emerging players earmarking their footprint in respective domain. Furthermore, changing lifestyle and busy work schedules around the globe also act as influencing factors fostering the industry growth.
“Online Payments held the prime market share in terms of payment mode for subscription e-commerce market.”
Based on payment mode, market is classified into cash on delivery and online payments. Given the government initiative to promote the cashless economy and digitization, online mode of payment is expected to continue its prominence during the forecast period.
Competitive Landscape-Top 10 Market Players
Some of the major players operating in the subscription e-commerce market include Dollar Shave Club, Inc., Blue Apron Holding Inc, Personalized Beauty Discovery, Inc. (Ipsy), Hello Fresh, EdgeWell Personal Care (Harry's), PetSmart, Inc., Netflix, Flintobox, Nature Delivered Ltd (Graze) and The Walt Disney Company. With an objective to enhance their product portfolio, these players have adopted various strategies to increase the penetration of subscription-based services in various domains among the young population owing to changing lifestyles and increasing disposable income.
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The global Subscription E-Commerce Market can be customized to regional/country level or any other market segment.
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UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.
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