Global Social Commerce Market Insights Forecasts to 2033

• The Global Social Commerce Market Size was Valued at USD 940.92 Billion in 2023
• The Market Size is Growing at a CAGR of 30.13% from 2023 to 2033
• The Worldwide Social Commerce Market Size is Expected to Reach USD 13098.92 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Social Commerce Market Size is Anticipated to Exceed USD 13098.92 Billion by 2033, Growing at a CAGR of 30.13% from 2023 to 2033.

Market Overview

An electronic business that involves the sale of goods and services using social media sites like Facebook, Instagram, and X is known as social commerce. The steps involved in social commerce are marketing, perusing, purchasing, and completing transactions. Social commerce streamlines the purchasing process by allowing users to shop and complete transactions directly on social media platforms, eliminating unnecessary stages. An increase in the accessibility of simple shopping processes, product investigation, and purchase is the reason for the anticipated market expansion. Additionally, it is anticipated that the increasing number of prospective customers on social media platforms like Facebook, Instagram, Snapchat, Pinterest, and others will support market growth in the upcoming years. The increasing number of smartphone users, increased internet penetration, and the expanding influencer marketing industry are the main sources of revenue for the social commerce sector. Moreover, the market for social commerce is expanding due to customers' growing spending power and improved living standards. The way that social commerce platforms use contemporary technology like AI, AR, and VR is constantly changing the way that people shop and bringing more value to the market. These developments might result in the possibility of offering immersive and customized shopping experiences, which are crucial in today's market to draw in customers and increase sales.

Report Coverage

This research report categorizes the market for the global social commerce market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global social commerce market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global social commerce market.

Driving Factors

The industry is expanding primarily due to social commerce platforms' varied product catalogs and personalized purchasing experiences. Social interactions play a significant impact in shaping consumer choices, particularly in the areas of video commerce, livestream buying, and influencer collaboration. The primary driver of the social commerce market's expansion is the approximately 4.9 billion individuals that use social media worldwide. Through mobile connectivity, recent technological developments like 5G are significantly contributing to the expansion of social commerce. In-app payment features have been added to social media platforms like Facebook, Instagram, and Twitter. This allows users to conduct transactions directly from the platform without leaving it, which is convenient for the user and has a major positive impact on the growth of the social commerce market. Impulsive purchases are motivated by the immediacy and real-time aspect of streaming social commerce. The social commerce market is driven by greater conversion rates and increased sales, which are directly correlated with the quality of streaming social commerce.

Restraining Factors

Customers in the e-commerce and social commerce sectors are particularly concerned about data privacy and the elevated danger of data breaches. Consumers are reluctant to interact with social shopping sites, which is preventing these channels from expanding and becoming more widely accepted. Moreover, confidential client data theft results in data breaches, which can have negative effects on a brand's reputation, lose customers' trust, and result in legal repercussions. Additionally, the expenses associated with data breaches, including notification, cleanup, and credit monitoring have a significant impact on firm and global social commerce sales and growth.

Market Segmentation

The global social commerce market share is classified into business model, product type, and platform.

• The business-to-consumer (B2C) segment is expected to hold the largest share of the global social commerce market during the forecast period.   

Based on the business model, the global social commerce market is divided into business-to-business (B2B), business-to-consumer (B2C), and consumer-to-consumer (C2C). Among these, the business-to-consumer (B2C) segment is expected to hold the largest share of the global social commerce market during the forecast period. The B2C sector is the leader in the social commerce industry because of its extensive client base, engagement possibilities, social endorsements, successful shopping patterns, smooth mobile interactions, and capacity to create personal relationships with customers. Social media sites such as Facebook, Instagram, Twitter, and Pinterest provide easy-to-use interfaces and effective targeting options, making them appealing for sales and marketing efforts. An effortless mobile interface and direct customer connections also play a role in the expansion of the B2C sector of the social commerce market.

• The apparel segment is expected to hold the largest share of the global social commerce market during the forecast period.   

Based on the product type, the global social commerce market is divided into personal and beauty care, accessories, apparel, food and beverages, and health supplements and home products. Among these, the apparel segment is expected to hold the largest share of the global social commerce market during the forecast period. The social commerce market is dominated by the visual nature of the apparel segment, influencer, and user-generated content, social recommendations, peer influence, trend-driven fashion, personalization and customization options, and mobile accessibility for shopping. Social media platforms like Instagram, Pinterest, and TikTok offer immersive and interactive experiences for clothing shoppers, attracting and engaging users.

• The video commerce segment is expected to hold the largest share of the global social commerce market during the forecast period.   

Based on the platform, the global social commerce market is divided into video commerce, group buying, social reselling, social network-led commerce, and product review platforms. Among these, the video commerce segment is expected to hold the largest share of the global social commerce market during the forecast period. Video commerce uses videos to sell products or services online, increase customer engagement, and simplify the purchasing process. Brands create interactive videos to highlight product features, use cases, and unique value propositions, making watching the video and placing an order a two-step process. Video is shaping the e-commerce industry by enabling social commerce engagement and real-time management, immersive shopping experiences, building social trust, and facilitating decision-making and personalization. The video commerce segment dominates the social commerce market due to the widespread use of video content for product promotion and sales on social media platforms such as YouTube, TikTok, Instagram, and Facebook.

Regional Segment Analysis of the Global Social Commerce Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global social commerce market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global social commerce market over the predicted timeframe. A large population, high internet penetration, mobile-first culture, e-commerce growth, digital payments, effective social media platforms, influencer marketing, community engagement, and cross-border e-commerce have made the region dominant in the social commerce market. Influencer marketing significantly boosts brand awareness, trust, and sales in the social commerce marketplace. E-commerce market in countries like China and India and effective buying from social media platforms like TikTok and Instagram further fuel the growth of the social commerce market. Factors such as increasing investment in telecommunication infrastructure, the proliferation of smartphones, and the wide reach of social media websites such as Facebook, Instagram, and Twitter. Moreover, the growing number of smartphones and social media users in countries such as China mainly contribute to the growth of the regional market.

North America is expected to grow at the fastest pace in the global social commerce market during the forecast period. There are a lot of social media users in the area and a high internet penetration rate. North America is known for its sophisticated social media networks like Facebook, Instagram, and YouTube, as well as its extensive usage of mobile devices and e-commerce systems. This market is expanding as a result of businesses using various social media platforms to promote their goods and services and rising social commerce sales due to the rise in social media users. The e-commerce and social commerce scenes in the United States are far more dispersed than in underdeveloped nations. There exists a significant disparity in the attitudes and subsequent behaviors of consumers in this domain. This continues to have an impact on the rise in social media usage, online buying, e-commerce, and concerns about digital privacy.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global social commerce market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Pinterest, Inc.
• Poshmark
• Roposo
• Snap, Inc.
• Taobao
• TikTok (Douyin)
• Trell Shop
• Twitter, Inc.
• WeChat (Weixin)
• Xiaohongshu
• Etsy, Inc.
• Fashnear Technologies Private Limited (Meesho)
• Meta Platforms, Inc. (Facebook)
• Pinduoduo Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2024, A new social commerce application called ChitChat, the first of its kind in Africa to combine a secure chat platform with digital wallet features, was launched by a fintech company located in Zambia. ChitChat, created in partnership with the well-known payments company Mastercard, allows individuals in Africa to have secure chats and make money transfers with each other using its digital wallet features.

• In January 2024, Cheil's Experience Commerce division won the social media mandate for Western Refrigeration after several rounds of presentations. This partnership allows Experience Commerce to coordinate social media campaigns for Western Refrigeration.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global social commerce market based on the below-mentioned segments: 

Global Social Commerce Market, By Business Model

• Business-to-Business (B2B)
• Business-to-Consumer (B2C)
• Consumer-to-Consumer (C2C

Global Social Commerce Market, By Product Type

• Personal and Beauty Care
• Accessories
• Apparel
• Food and Beverages
• Health Supplements
• Home Products

Global Social Commerce Market, By Platform

• Video Commerce
• Group Buying
• Social Reselling
• Social Network-Led Commerce
• Product Review Platforms

Global Social Commerce Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa