Hyderabad, March 16, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Courier, Express, and Parcel (CEP) Market - 2023 - 2028", the market is expected to grow at a CAGR of >10%. The CEP industry is flourishing in developing nations due to a surge in international trade, internet access, and smartphone usage, the expansion of the middle class, and greater financial freedom of citizens. On top of e-commerce activities, omnichannel retail is gaining traction in certain countries, while economic coordination leads to heightened trade. Furthermore, reports in April 2022 stated that numerous international players refute online claims that express services from the United States to China paused due to COVID-19; they affirm their operations as steady.
What are the major driving factors for the growth of Courier, Express, and Parcel markets?
The e-commerce market is witnessing phenomenal growth on a global scale, with its value reaching an incredible USD 13 trillion in 2021. A number of factors are contributing to this exponential increase, the most significant being rapid urbanization worldwide. Moreover, internet penetration and the usage of digital devices like smartphones, laptops, and tablets to purchase goods are also resulting in the tremendous growth of the e-commerce market.
- Latin America registered USD 85 billion in e-commerce sales in 2021, up by 25% from USD 68 billion in 2020.
- The Indian e-commerce market is expected to grow to USD 111.4 billion by 2025, up from USD 46.2 billion in 2020.
- Russia, the United Kingdom, and the Philippines registered more than 20% e-commerce sales growth in 2021.
- North America, which includes the United States and Canada as the leading regions in business-to-consumer (B2C) e-commerce sales, accounts for around one-third of digital purchases worldwide.
- This increase in e-commerce trade over online portals has driven the growth of the global CEP market.
- Despite a 3.4% drop in overall retail sales, Latin America experienced incredible growth of 36.7% compared to the previous year.
- Two of the greatest cross-border e-commerce markets, India and Mexico were in the top five countries in the world.
- With 50 million e-buyers, India is in third place, and Mexico is in fifth place with 40 million e-buyers.
The growing internet users in these countries make them great markets for multinational firms to conduct sales. In Hong Kong, Singapore, and Vietnam, cross-border purchases account for 31%, 43%, and 55% of online purchases, respectively. In Australia and New Zealand, 35% of online purchases are imported from outside the region, with 25% of e-purchases from North America and Europe.
Cross-Border e-commerce fueling international CEP market growth:
The surging e-commerce and cross-border trade are significantly contributing to the growth of the Courier Express Parcel market. Emerging nations have established robust international trade channels, causing an upsurge in B2C shipments.
Furthermore, customers are increasingly utilizing e-commerce portals for shopping from home - stores across the globe form partnerships with courier service providers to dliver their products quickly domestically and internationally. All these factors combined are working together to bolster the CEP market.
Companies like Lufthansa Cargo have invested in digital capabilities, such as e-booking and API, to offer their inventory to others. Larger customers may want to incorporate this data into their own systems, but smaller customers may need a different approach. SME forwarders might not be as IT-savvy or want to invest, so these companies also need to be on platforms like cargo.one or WebCargo, where customers can compare rates, routings, stopovers, and capacities and make their choice directly. Qatar Airways Cargo has a similar policy. In January 2021, it finally joined Freightos’s WebCargo booking platform.
Who are the key players in the Courier, Express, and Parcel (CEP) Market?
The Courier, Express, and Parcel (CEP) Market is fragmented and highly competitive. DHL, FedEx, and UPS continue expanding their business across the globe to capture the market in the untapped areas.
- Deutsche Post DHL Group
- United Parcel Service Inc.
- FedEx Corporation
- SF Express (Group) Co. Ltd
- Poste Italiane SpA
- La Poste SA (GeoPost SA/DPD Group)
- Royal Mail PLC (GLS/Parcelforce)
- Yamato Holdings Co. Ltd
- Qantas Courier Limited
- SG Holdings Co. Ltd
- PostNL NV
- Aramex PJSC
Recent developments in the Courier, Express, and Parcel (CEP) Market:
- In November 2022: The real estate experts of DHL Supply Chain, the world’s leading contract logistics provider, developed a carbon-neutral real estate portfolio of 400,000 sq m to support customers’ growth requirements across six European Tier 1 markets.
- In June 2022: FedEx Corp. announced it had received its first 150 electric delivery vehicles from BrightDrop, the technology startup from General Motors (GM) decarbonizing last-mile delivery.
Briefly, the Mordor Intelligence Courier, Express, and Parcel (CEP) Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand the Courier, Express, and Parcel (CEP) industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/courier-express-and-parcel-cep-market
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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Stimulating The Growth Of The International CEP Market
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