Deep Fryers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

Asia Pacific Domestic Courier - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)

The Asia Pacific Domestic Courier Market size is estimated at 145.71 billion USD in 2024, and is expected to reach 216.01 billion USD by 2030, growing at a CAGR of 6.78% during the forecast period (2024-2030).

Partnerships between courier companies and e-commerce players are increasing in the region to provide better services

• Domestic courier services are becoming increasingly important in the e-commerce industry. The pandemic brought about a drastic change in shopping behavior over the past years, shifting the shopping process worldwide toward online shopping. Partnerships between courier companies and e-commerce players are increasing in the region. For instance, in March 2022, Delhivery.com, a logistics and supply chain company, announced a partnership with Ajio.com, an e-commerce company. The partnership was made to address the issue of low-quality returned items and ensure that they are reinvented for sale.
• Retailers in the region are providing domestic courier services using micro-fulfillment centers. Out-of-home (OOH) delivery has been gaining popularity across the region. For instance, in China, 60% of parcels are currently delivered on the same day using micro-fulfillment centers in cities across the country to keep up with consumer expectations. China has the biggest OOH delivery market in the world, with hundreds of thousands of locker locations, growing at a rate of 25% per year.
• The growth of domestic courier services for medical devices in the Asia-Pacific region is driven by a combination of increasing demand for healthcare services, advancements in logistics technology, and the growth of healthcare e-commerce. In addition, India, China, and Japan have established their footholds in the region, accounting for 85% of the total medical device market. Courier companies are expanding in Asia-Pacific to provide courier services for healthcare products. For instance, in April 2023, JD Logistics took a significant step toward transforming the healthcare industry in China by integrating express delivery services with Guang’anmen Hospital (GAMH).

Australian grocery home delivery market hit USD 8.25 billion in 2023 as rise in internet user penetration

• In China 2021, about 60% of parcels were delivered on the same day, with JD.com fulfilling 80% of these deliveries. Other major players in same-day delivery include Alibaba and SF Express. These companies have 50-100 service centers to facilitate domestic same-day deliveries, which are quick to deploy and require minor investments. The rise of Q-commerce, focusing on quality, efficiency, and affordability for deliveries within hours of ordering, drives the demand for same-day deliveries. By 2026, the number of quick commerce orders is projected to reach 95 billion, mainly driven by the increasing demand for online food and beverages, valued at USD 151 billion in 2022.
• In the Australian domestic courier, express, and parcel (CEP) market, grocery home delivery drives significant revenue growth, and it is projected to reach a value of USD 8.25 billion in 2023 compared to USD 7.09 billion in 2022. The total grocery market was valued at USD 125 billion in 2022. The user penetration for grocery delivery is expected to reach 29.4% in 2023, with an estimated 9.97 million users by 2027. Consumer preferences for economical and convenient grocery home delivery options fuel this growth.
• In 2022, India Post introduced same-day delivery in five cities in Gujarat, while Amazon India launched same-day deliveries within hours for Prime customers in over 50 cities. Similarly, Indonesia is experiencing investment and expansion of same-day delivery services, with a last-mile logistics company receiving USD 3.25 million in funding in 2021. According to the company, this investment primarily focuses on the Indonesian same-day delivery market, which is projected to grow by 30% in 2023.

Asia Pacific Domestic Courier Market Trends

Asia-Pacific's Plan Aims to Tackle Soaring Freight Demand, Anticipates Tripled Transport Needs by 2050

• The region's new Regional Action Programme (RAP) addresses issues like increasing freight and passenger volumes and reflecting the rising demand for freight transport and mobility. Two-thirds of global seaborne trade is concentrated in the Asia-Pacific region, which is also home to nine of the world's busiest container ports. The region is responsible for more than 40% of the global surface freight transport flows, and by 2050, the region's demand for freight transport is projected to triple.
• Full-year new logistics supply for Asia-Pacific is expected to reach 167 million sq. ft in 2022, 58% higher than the previous three-year average. The logistics and warehousing sector is undergoing significant changes with increased mergers and acquisitions. Both innovation and sustainability are key factors for the sector, where shorter turnaround times and efficiency in operations are in demand. In 2021, the Suez Canal blockage and new waves of COVID-19 infections constrained manufacturing capacity in India, Thailand, Vietnam, and Indonesia.
• International freight transport remained largely operational throughout the pandemic as countries implemented policy measures to preserve freight transport connectivity to support supply chains. The Asian Highway, Trans-Asian Railway, and dry port networks established under ESCAP auspices serve as the backbone for the region's land transport infrastructure connectivity and logistics. They are also increasingly integrated with inter-regional transport corridors and port and shipping networks. In 2020 and 2021, these links brought countries together to capture and analyze their responses to the pandemic and the impacts of those actions on regional connectivity.

Crude oil prices are soaring in the Asian economies owing to global uncertainties

• Crude oil reached USD 130 per barrel in March 2022, its highest level since 2008, before retreating to USD 100 per barrel in April of the same year. The factors behind the rise include protracted low investment in global oil production, a decline in the global inventory, and a rise in the demand related to economic recovery from the COVID-19 pandemic. Though the overall economic impact has been modest in Asia-Pacific, the situation can change quickly, subject to the magnitude and duration of oil price increases. Crude oil prices may overshoot, like many commodity and financial prices.
• Due to a strong economic recovery in Asia, oil prices surpassed USD 80 in November 2021, more than double the price in 2020. The price may increase further due to global geopolitical uncertainties and tight supply conditions. Reaching USD 200 is not so farfetched considering that the historic high of USD 140 oil in 2008 translates to over USD 180 in current dollars. Higher oil prices are often economically damaging for net oil importers, impacting real income and hurting growth. Most regional economies are net oil importers except for a few oil exporters, such as Brunei, Malaysia, and Vietnam.
• For the short term, the region must prioritize the rising oil prices and global interest rates and maintain a stable macroeconomic environment of low inflation and prudent fiscal balances. The average price of gasoline around the world remains at USD 116.94 per liter. The price of petrol stands at USD 1.16 per liter in India, USD 0.93 per liter in China, and USD 1.002 per liter in Pakistan. The differences in prices across countries are due to the various taxes and subsidies for gasoline.

Asia Pacific Domestic Courier Industry Overview

The Asia Pacific Domestic Courier Market is fragmented, with the top five companies occupying 31.26%. The major players in this market are China Post, SF Express (KEX-SF), SG Holdings Co., Ltd., Yamato Holdings and YTO Express (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support