Europe Growth
Adoption of BNPL products is also high in Europe - leading provider Klarna was founded in Sweden, after all. As of Q1 of 2023, the European BNPL market experienced consecutive growth during the previous four quarters and accounted for 10% of all e-commerce transactions in 2022. Despite similar pushback on business model viability, that steady growth and regular usage is expected to continue at a CAGR of 11.4% to reach a market size of €300 billion by 2025. Trends Similarly to North America, the high cost of living across Europe is changing the way consumers are using BNPL. New BNPL players are popping up in unexpected areas, like car repairs, and - yes - groceries. But B2B lenders have also jumped on the bandwagon in an attempt to modernize a sector that has largely remained free of disruption for decades. On a broader scale, however, adoption of BNPL is so disparate across the region (it accounts for 24% of e-commerce transactions in Sweden while only 3% and 5% in Spain and France, respectively) that depending on market needs, financial behavior, and other cultural factors, different trends and innovations are likely to appear on a micro level. Biggest Players Klarna | Clearpay | Scalapay | Alma | Zilch
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
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