Courier, Express, and Parcel (CEP) Market Size (2024 - 2029)

Courier, Express & Parcel (CEP) Market Analysis

The Courier, Express, and Parcel (CEP) Market size is estimated at USD 457.38 billion in 2023, and is expected to reach USD 758.17 billion by 2028, growing at a CAGR of 10.64% during the forecast period (2023-2028).

Increasing demand through e-commerce is driving the market. Furthermore, there is an increased volume of shipments in terms of parcels in the B2C segment.

• Growth in the global express markets has been driven by strong domestic e-commerce sales. Domestic markets have been growing more quickly than international markets in most regions, but the gap is narrowing significantly in some regions. The gap between the domestic and international markets is smaller in North America and Europe. In Europe, this is primarily due to the interconnectedness of the market and the lower barriers to international trade. Domestic markets have proved capable of seizing on the opportunities that e-commerce brings.
• The CEP industry is posting impressive growth in developing countries, driven by the growth in international trade, rising internet and smartphone penetration boosting e-commerce sales, growing middle-class population, disposable incomes, and improved standards of living. Besides e-commerce, the emerging trends of omnichannel retailing in certain countries and growth in trade driven by economic growth are also some of the drivers of the CEP industry. As reported in April 2022, several foreign express giants said that their operations are running as normal, refuting online rumours that delivery companies from Europe and the US are suspending postal and parcel express services in China amid the COVID-19 epidemic. FedEx's international express and freight centre at Shanghai Pudong International Airport has kept operating during the recent outbreak, in a bid to ensure normal export business and promote the recovery and development of global trade.
• Online retail sales, excluding travel, surpassed USD 1 trillion in 2022 for the first time in history. While online non-travel sales totaled USD 1.09 trillion, e-commerce sales in Q4 reached its highest quarter ever at USD 332.2 billion. E-commerce spending reached record highs during the 2022 holiday season. Consumers spent USD 211.7 billion online from Nov. 1 to Dec. 31, up 3.5% year over year. Among the top product categories during the holidays were toy sales, video games, apparel and accessories.
• Companies like Lufthansa Cargo have invested in digital capabilities with their e-booking but also want to make their bookings available to others so that API can offer the inventory in their systems. Larger customers would want to incorporate the data into their systems, but smaller customers needed a different approach. SME forwarders might not be as IT-savvy or want to invest, so we also need to be on platforms such as cargo.one or WebCargo, where they can compare rates, routings, stopovers and capacity and make their choice directly. Qatar Airways Cargo has a similar policy. In January 2021, it finally joined Freightos's WebCargo booking platform. Qatar has also signed up for the Validaide Capabilities Platform, which now hosts some 11 airlines. It provides customers with access to information on the special handling capabilities of suppliers. Airlines can digitally manage and share station capabilities for pharma and healthcare products, and customers can see and review them.

Courier, Express & Parcel (CEP) Industry Segmentation

CEP stands as an abbreviation for courier express parcel services that offer logistic services in areas. The offer of the service providers differs in the speed, weight, and volume of the packages and the way of carrying out the shipment of the goods. Especially the regulations regarding weight and volume allow for strong standardization and great potential for automating the service. A complete background analysis of the Courier, Express, and Parcel (CEP) Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The Courier, Express, and Parcel (CEP) Market is segmented By Business (B2B, B2C and C2C), Destination (Domestic and International), By End User (Services, Wholesale and Retail Trade, Manufacturing, Construction and Utilities, and Primary Industries), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the market size and forecasts in value (USD) for all the above segments.