Global parcel delivery market worth $350 billion in 2017

Consulting firm Apex Insight reports that the global market for parcel delivery was worth US$350 billion in 2017. This is up from $310 billion in 2016.

Of this, the Asia Pacific region accounts for around 40%, while North America and Europe combined account for another 50%.

The USA is still the country with the largest market value, but China, which accounts for a majority of Asia Pacific’s trade, has already surpassed it in volume.

According to the report, e-commerce is the main impetus behind growth—up to $1.2 trillion in the last year. The USA, China, Japan and the UK are the biggest markets for online retail.

This has led to an emphasis by retailers and courier companies on last mile delivery between hub and home, same day deliveries, and investment in collection options such as parcel shops and lockers.

Growth is expected to continue through to 2022, as other less developed markets begin to catch up. China is predicted to overtake the USA as the largest market, presenting new challenges for global parcel delivery companies who want to cater to the Chinese market.

(Source: Post&Parcel, Apex Insight)