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Vietnam Courier, Express, and Parcel (CEP) Market Size

The Vietnam Courier, Express, and Parcel (CEP) market is experiencing significant growth, driven by the expanding e-commerce sector and government initiatives to enhance cross-border trade. The market's expansion is reflected in the increasing market size, with major players like Giao hàng tiết kiệm, VNPost, and Viettel Post capturing substantial market shares. The post-pandemic recovery has further accelerated this growth, with domestic CEP services witnessing a notable rise. Additionally, grocery delivery services are emerging as a key contributor to the market's expansion, highlighting the diverse drivers of the CEP market in Vietnam.

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Market Size of vietnam courier, express, and parcel (cep) Industry

Vietnam Courier, Express, and Parcel (CEP) Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 1.62 Billion
svg icon Market Size (2030) USD 2.53 Billion
svg icon Largest Share by Destination Domestic
svg icon CAGR (2024 - 2030) 7.76 %
svg icon Fastest Growing by Destination International
svg icon Market Concentration High

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Vietnam Courier, Express, and Parcel (CEP) Market Analysis

The Vietnam Courier, Express, and Parcel (CEP) Market size is estimated at 1.62 billion USD in 2024, and is expected to reach 2.53 billion USD by 2030, growing at a CAGR of 7.76% during the forecast period (2024-2030).

1.62 Billion

Market Size in 2024 (USD)

2.53 Billion

Market Size in 2030 (USD)

5.97 %

CAGR (2017-2023)

7.76 %

CAGR (2024-2030)

Fastest Growing Market by Speed of Delivery

8.81 %

Projected CAGR, Express, 2024-2030

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The development and addition of new parcel and delivery service centers to existing established regional networks are major contributors to the segment's growth.

Fastest Growing Market by Model

10.09 %

Projected CAGR, Business-to-Consumer (B2C), 2024-2030

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The growth of e-commerce and companies moving to set up e-commerce businesses in the region due to economic and global factors have contributed to the segment's growth.

Largest Market by Shipment Weight

53.30 %

value share, Light Weight Shipments, 2023

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Delivery demand for groceries, beauty, health, personal care items, toys, and hobby & DIY items is driving the segment's growth.

Largest Market by End User Industry

32.89 %

value share, Manufacturing, 2023

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Increasing investments in the manufacturing sector are expected to boost the demand for courier and express services in the country.

First leading Market player

21.22 %

market share, Vietnam Post Corporation (VNPost), 2022

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Viettel Post (a member of Viettel Group) operates with nearly 680 large and small post offices, more than 300 delivery agents, and around 1,000 vehicles.

Growth expected in CEP market in the country owing to increase e-commerce adoption and cross-border trade

  • The CEP value witnessed positive growth post pandemic wherein domestic CEP value grew about 8.70% YoY in 2022. During the pandemic, in 2020, Giao hàng tiết kiệm accounted for 23.7% of the market share of postal services in Vietnam based on parcels and mails volume, making it the leading company for these services in that year. Established in 2014, Giao hàng tiết kiệm is among the most popular postal service providers in the country, especially for last-mile delivery services. VNPost had the second largest market share with 13.5% followed by Viettel Post with 12.7%. The share of these players is significantly expected to rise as demand rises thus CEP values are expected to rise at a CAGR of 7.95% from 2023-2029.
  • The main driver of the courier, express and parcel market for both domestic and international oriented orders is the e-commerce market of the country. The e-commerce market of Vietnam witnessed a growth of 43.58% YoY in 2020 reaching USD 8.27 billion followed a growth of 35.19% YoY in 2021 reaching USD 11.81 billion. To further boost the industry the government is launching initiatives with international e-commerce companies. For instance, Amazon launched an initiative to boost Vietnam’s cross-border ecommerce in 2022. Amazon has signed an agreement with a Vietnamese government agency to train 10,000 local businesses in the next five years to sell to Amazon's global customers. Also, The Greater Mekong Subregion Cross-Border Transportation Facilitation Agreement (GMS-CBTA) that facilitates trade and transport between Laos, Thailand and Vietnam is a major factor driving growth.
  • Grocery delivery, one of the major domestic CEP drivers, revenue is projected to touch USD 1.39 billion in 2023, and user penetration is expected to be 14% in 2023.
Vietnam Courier, Express, and Parcel (CEP) Market

Vietnam Courier, Express, and Parcel (CEP) Industry Segmentation

Domestic, International are covered as segments by Destination. Express, Non-Express are covered as segments by Speed Of Delivery. Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Consumer (C2C) are covered as segments by Model. Heavy Weight Shipments, Light Weight Shipments, Medium Weight Shipments are covered as segments by Shipment Weight. Air, Road, Others are covered as segments by Mode Of Transport. E-Commerce, Financial Services (BFSI), Healthcare, Manufacturing, Primary Industry, Wholesale and Retail Trade (Offline), Others are covered as segments by End User Industry.

  • The CEP value witnessed positive growth post pandemic wherein domestic CEP value grew about 8.70% YoY in 2022. During the pandemic, in 2020, Giao hàng tiết kiệm accounted for 23.7% of the market share of postal services in Vietnam based on parcels and mails volume, making it the leading company for these services in that year. Established in 2014, Giao hàng tiết kiệm is among the most popular postal service providers in the country, especially for last-mile delivery services. VNPost had the second largest market share with 13.5% followed by Viettel Post with 12.7%. The share of these players is significantly expected to rise as demand rises thus CEP values are expected to rise at a CAGR of 7.95% from 2023-2029.
  • The main driver of the courier, express and parcel market for both domestic and international oriented orders is the e-commerce market of the country. The e-commerce market of Vietnam witnessed a growth of 43.58% YoY in 2020 reaching USD 8.27 billion followed a growth of 35.19% YoY in 2021 reaching USD 11.81 billion. To further boost the industry the government is launching initiatives with international e-commerce companies. For instance, Amazon launched an initiative to boost Vietnam’s cross-border ecommerce in 2022. Amazon has signed an agreement with a Vietnamese government agency to train 10,000 local businesses in the next five years to sell to Amazon's global customers. Also, The Greater Mekong Subregion Cross-Border Transportation Facilitation Agreement (GMS-CBTA) that facilitates trade and transport between Laos, Thailand and Vietnam is a major factor driving growth.
  • Grocery delivery, one of the major domestic CEP drivers, revenue is projected to touch USD 1.39 billion in 2023, and user penetration is expected to be 14% in 2023.
Destination
Domestic
International
Speed Of Delivery
Express
Non-Express
Model
Business-to-Business (B2B)
Business-to-Consumer (B2C)
Consumer-to-Consumer (C2C)
Shipment Weight
Heavy Weight Shipments
Light Weight Shipments
Medium Weight Shipments
Mode Of Transport
Air
Road
Others
End User Industry
E-Commerce
Financial Services (BFSI)
Healthcare
Manufacturing
Primary Industry
Wholesale and Retail Trade (Offline)
Others
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Vietnam Courier, Express, and Parcel (CEP) Market Size Summary

The Vietnam Courier, Express, and Parcel (CEP) market is experiencing robust growth, driven primarily by the booming e-commerce sector. The market has shown resilience and positive growth post-pandemic, with significant contributions from key players such as Giao hàng tiết kiệm, VNPost, and Viettel Post. These companies have established a strong foothold in the market, particularly in last-mile delivery services. The government's initiatives to enhance cross-border e-commerce, such as collaborations with international giants like Amazon, are further propelling the market's expansion. Additionally, the Greater Mekong Subregion Cross-Border Transportation Facilitation Agreement is facilitating trade and transport, contributing to the market's growth trajectory.

The CEP market's expansion is also supported by the growth in the transportation and storage sector, which rebounded impressively in recent years. The establishment of new businesses and the increasing demand for cold chain logistics, driven by seafood exports and domestic distribution, are key factors in this growth. However, rising fuel prices, influenced by global market trends and domestic challenges, pose a potential risk to transportation costs and inflation. Despite these challenges, the market remains fairly consolidated, with major players like DHL Group and Vietstar Express continuing to innovate and expand their services to meet growing consumer demands.

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Vietnam Courier, Express, and Parcel (CEP) Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes Market Value in USD, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Destination

      1. 1.1.1 Domestic

      2. 1.1.2 International

    2. 1.2 Speed Of Delivery

      1. 1.2.1 Express

      2. 1.2.2 Non-Express

    3. 1.3 Model

      1. 1.3.1 Business-to-Business (B2B)

      2. 1.3.2 Business-to-Consumer (B2C)

      3. 1.3.3 Consumer-to-Consumer (C2C)

    4. 1.4 Shipment Weight

      1. 1.4.1 Heavy Weight Shipments

      2. 1.4.2 Light Weight Shipments

      3. 1.4.3 Medium Weight Shipments

    5. 1.5 Mode Of Transport

      1. 1.5.1 Air

      2. 1.5.2 Road

      3. 1.5.3 Others

    6. 1.6 End User Industry

      1. 1.6.1 E-Commerce

      2. 1.6.2 Financial Services (BFSI)

      3. 1.6.3 Healthcare

      4. 1.6.4 Manufacturing

      5. 1.6.5 Primary Industry

      6. 1.6.6 Wholesale and Retail Trade (Offline)

      7. 1.6.7 Others

Vietnam Courier, Express, and Parcel (CEP) Market Size FAQs

The Vietnam Courier, Express, and Parcel (CEP) Market size is expected to reach USD 1.62 billion in 2024 and grow at a CAGR of 7.76% to reach USD 2.53 billion by 2030.

In 2024, the Vietnam Courier, Express, and Parcel (CEP) Market size is expected to reach USD 1.62 billion.

Vietnam Courier, Express, And Parcel (CEP) Market Report Snapshots

Vietnam Courier, Express, and Parcel (CEP) Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030