Market Size of South Korea International Courier, Express, And Parcel (CEP) Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Korea International Courier, Express, And Parcel (CEP) Market Analysis
The South Korean International Courier, Express, and Parcel (CEP) market is valued at about USD 6.5 billion and is expected to register a CAGR of more than 5% during the forecast period. During the outbreak, many duty-free establishments were temporarily closed. Shilla Duty-Free, Lotte Duty-Free, Shinsegae, and Shilla IPark Duty-Free are among the duty-free businesses affected by the outbreak. The budget retailer E-Mart has also been added to this list. Outside of Seoul and metropolitan areas, distribution infrastructure has been expanded due to COVID-19.
- The retail industry has made a concerted effort to improve the same-day delivery system. As a result of COVID-19, non-face-to-face consumption has become more prevalent, an immediate delivery system has been created, and the 'omnichannel is being consolidated. Food and beverage companies are enhancing consumer convenience by offering same-day delivery services when placing orders.
- In addition, courier services grew in popularity as the outbreak spread across Korea. After the pandemic, the average number of times people utilized a courier service increased from 6.22 to 9.74 per month. Korea's parcel volume is expected to reach 5.6 billion boxes in the second half of 2023, more than double that of 2019. When split down by age, individuals in their 20s used delivery services 9.5 times per month, up from 5.36 times before the pandemic, a 77% increase and the largest increase of all age groups. However, the online shopping transaction value marked KRW 16.5438 trillion (USD 12.5 Trillion) in January 2022, rising by 11.5% from January 2021. The mobile shopping transaction value marked KRW 12.4978 trillion (USD 9.4 Trillion ) in January 2022, rising by 17.5% from January 2021.
South Korea International Courier, Express, And Parcel (CEP) Industry Segmentation
CEP (courier, express, and parcel) refers to a set of services that entails the delivery of various commodities and products across many places via land, air, or water. In contrast to courier and parcel services, express deliveries are frequently time-bound, with various high-value consignments arriving in a few days or at a pre-arranged date and time.
The report offers a comprehensive background analysis of the South Korean international CEP market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. The impact of COVID-19 has also been incorporated and considered in the study.
The South Korea International Courier, Express, and Parcel (CEP) Market is Segmented by Business Model (Business-to-Business (B2B), Business-to-Customer (B2C), and Customer-to-Customer (C2C)), By Type (E-commerce, Non-e-commerce), and By End User (Services, Wholesale and Retail Trade, Healthcare, Industrial Manufacturing, and Other End Users). The report offers market size and forecasts in value (USD billion) for all the above segments.
| By Business | |
| Business-to-Business (B2B) | |
| Business-to-Customer (B2C) | |
| Customer-to-Customer (C2C) |
| By Type | |
| E-commerce | |
| Non-E-commerce |
| By End User | |
| Services | |
| Wholesale and Retail Trade | |
| Healthcare | |
| Industrial Manufacturing | |
| Other End Users |
South Korea International Courier, Express, And Parcel (CEP) Market Size Summary
The South Korean international Courier, Express, and Parcel (CEP) market is experiencing significant growth, driven by the increasing demand for efficient delivery services and the expansion of e-commerce. The market is characterized by a competitive landscape with both global and local players such as CJ Logistics, Aramex, DB Schenker, Korea Post, and DHL. The rise in online shopping, particularly cross-border e-commerce, has been a major contributor to market expansion. Consumers are increasingly opting for same-day delivery services, which has prompted retailers and courier companies to enhance their logistics capabilities. The pandemic has accelerated the shift towards non-face-to-face consumption, leading to a surge in the use of courier services and the development of omnichannel delivery systems.
The growth of the CEP market is further supported by the expansion of distribution infrastructure beyond metropolitan areas and the increasing popularity of automated shipping solutions. South Korea's position as a leading e-commerce market in Asia-Pacific, with a substantial number of internet users, has facilitated the rise in online consumer goods purchases. The fashion sector, in particular, dominates the e-commerce revenue, reflecting the country's robust consumer spending habits. As the market continues to evolve, companies are focusing on strategic partnerships and technological advancements to improve service quality and meet the growing demand for international and domestic deliveries.
South Korea International Courier, Express, And Parcel (CEP) Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Technological Trends
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1.3 Government Regulations
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1.4 Overview of the Logistics and Warehousing Market in South Korea
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1.5 Spotlight on Cross-Border Transportation in South Korea
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1.6 Brief on South Korea Freight Forwarding Market
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1.7 Spotlight on South Korea E-commerce Sector (Commentary on Domestic and Cross-border E-commerce)
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1.8 Impact of COVID-19 on the CEP Market (Short-term and Long-term Impact on the Market and on the Economy)
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2. MARKET SEGMENTATION
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2.1 By Business
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2.1.1 Business-to-Business (B2B)
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2.1.2 Business-to-Customer (B2C)
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2.1.3 Customer-to-Customer (C2C)
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2.2 By Type
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2.2.1 E-commerce
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2.2.2 Non-E-commerce
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2.3 By End User
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2.3.1 Services
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2.3.2 Wholesale and Retail Trade
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2.3.3 Healthcare
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2.3.4 Industrial Manufacturing
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2.3.5 Other End Users
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South Korea International Courier, Express, And Parcel (CEP) Market Size FAQs
What is the current South Korea International Courier, Express, and Parcel (CEP) Market size?
The South Korea International Courier, Express, and Parcel (CEP) Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in South Korea International Courier, Express, and Parcel (CEP) Market?
CJ Logistics, Aramex, DB Schenker, DHL and KOREA POST are the major companies operating in the South Korea International Courier, Express, and Parcel (CEP) Market.
