Courier, Express, and Parcel Market

Courier, Express, and Parcel Market Outlook

The global courier, express, and parcel market size was valued at around USD 433.39 Billion in 2022, is expected to reach around USD 751.07 Billion by 2031 and expanding at a CAGR of 6.3% during the forecast period, 2023–2031.

Courier, express, and parcel (CEP) refer to a group of services that entail the transportation of various products and commodities between destinations through different modes including air, land, or waterways. CEP packages are non-palletized and often weigh around a pound collectively.

These services often operate on a business-to-customer, business-to-business, and customer-to-customer paradigm and are paired with other value-added services to improve the users' delivery experience. Express deliveries, as opposed to courier and parcel services, are frequently time-bound, with various high-value consignments transported in limited days or at a pre-agreed date and time.

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Courier, Express, And Parcel Market Trends, Drivers, Restraints, and Opportunities

• Rising e-commerce industry and customers’ inclination for purchasing online through various e-commerce platforms, which is accompanied by increased volume of cross-border trade. This is one of the primary drivers boosting the market expansion.
• Increasing urbanization and growing consumers’ expenditure capacity are expected to propel the market forward during the projected timeline.
• Advancement in technical systems in delivery services as well as the rigorous establishment of last-mile shipments with new technologies in delivery vehicles are some factors expected to fuel the market expansion.
• High operational costs, shortage of infrastructure, and strict government limitations on non-essential commodities deliveries during the COVID-19 pandemic are major challenges that can hamper the market expansion.
• Increasing demand for products in various applications across hospitals for pharmaceuticals, health care equipment, and heavy machinery has created numerous opportunities for market expansion.

Scope of Courier, Express, And Parcel Market Report

The report on the global courier, express, and parcel market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Courier, Express, and Parcel Market Segment Insights

Types Segment Analysis

Based on types, the courier, express, and parcel market is fragmented into road, air, subway, and ship. The air segment is projected to hold significant market share. For customers who demand speedier delivery, airlines provide quick and dependable transportation solutions.

Airways have become a fairly prevalent form of delivery for courier, express, and package sellers in the market due to the increased usage of tracking systems and logistical solutions. Increase in technical developments in drone delivery services is one of the reasons expected to fuel the segment expansion.

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Service Types Segment Analysis

On the basis of service types, the market is segmented into business-to-consumer, customer-to-customer, and business-to-business. The business-to-Consumer segment is anticipated to account for a substantial share of the market owing to an increase in cross-border internet buying and e-commerce sales.

The expansion of cross-border commercial routes, particularly in developing countries, has increased the acceptance of international trade and B2C shipping. Furthermore, the growing customer inclination for purchasing online through various e-commerce websites is fueling segment expansion.

Destinations Segment Analysis

In terms of destinations, the courier, express, and parcel market is bifurcated into international and domestic. The domestic segment is projected to expand at a robust pace during the forecast period. The domestic couriers segment comprises sales of small package and parcel delivery services within a country's metropolitan areas and urban centers.

Expansion in the segment was driven by increased demand from the healthcare and medical industries, an increase in consumer expenditure, an increase in e-commerce, and growth in emerging economies. The international segment, however, is anticipated to register a rapid pace during the projected timeline due to the rise in e-commerce and online shopping sales services across borders.

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End-Users Segment Analysis

Based on end-users, the market is segregated into manufacturing, construction & utilities, services, primary industries, wholesale & retail trade, and others. The wholesale & retail trade segment is expected to register a substantial CAGR during the forecast period owing to the growing customer demand for purchasing online through various e-commerce websites. To distribute their products across international and domestic borders, e-commerce stores collaborate with courier service providers.

Technological improvements such as the use of digital technology with crowd-sourced distribution models are also contributing to the segment's favorable outlook. The wholesale and retail segments have dominated as a result of rapid urbanization and rising disposable income among customers. The COVID-19 pandemic has expanded the number of wholesale and retail merchants selling their products through e-commerce services, which has also helped the expansion of the segment.

Regional Analysis

In terms of regions, the courier, express, and parcel market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to the growing market penetration of mobile devices and rapid growth of the e-commerce services in the region.

The expanding e-commerce business in major countries such as India, Japan, China, South Korea, and Taiwan are largely contributing to the regional market expansion. Moreover, the growing collaboration between e-commerce merchants and courier, express, and package service vendors present another key aspect for the market expansion of the region.

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Segments

Types

• Road
• Air
• Subway
• Ship

Service Types

• Business-to-Consumer
• Customer-to-Customer
• Business-to-Business

Destinations

• International
• Domestic

End-users

• Manufacturing, Construction, & Utilities
• Services
• Primary Industries
• Wholesale & Retail Trade
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• DPD
• Deutsche Post DHL Group
• Poste Italiane SpA
• Parcelforce
• SF Express (Group) Co. Ltd
• Yamato Holdings Co. Ltd
• FedEx Corporation
• Qantas Courier Limited
• United Parcel Service Inc.
• SG Holdings Co. Ltd.

Competitive Landscape

Key players in the global courier, express, and parcel market are DPD; Deutsche Post DHL Group; Poste Italiane SpA; Parcelforce; SF Express (Group) Co. Ltd; Yamato Holdings Co. Ltd; FedEx Corporation; Qantas Courier Limited; United Parcel Service Inc.; and SG Holdings Co. Ltd. These players have actively engaged in several market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.