DUBLIN–(BUSINESS WIRE)–The “China International Courier, Express, and Parcel (CEP) Market – Growth, Trends, COVID-19 Impact, and Forecast (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The Chinese international courier, express, and parcel (CEP) market is estimated to record a CAGR of more than 7% during the forecast period. Digitalization has had a significant impact on the market. With the rise of e-commerce, the number of delivered parcels in China more than doubled in the past 10 years. Growth in the e-commerce sector, the rising cross-border trade, technological advancements, and crowdsourced delivery models are driving the growth of the Chinese international CEP market.
The pandemic has impacted every sector in China. However, it has accelerated online purchasing, which directly impacts the growth of the Chinese international CEP industry positively. Amid the pandemic, parcel delivery volumes increased due to social distancing measures.
A huge transformation is taking place in the last-mile delivery in China, with companies looking at alternatives, such as delivery lockers, pickup points, crowdsourced deliveries, drone deliveries, and autonomous vehicles. The evolution of technology is reshaping the entire supply chain and reinventing the parcel industry in China. Technology is becoming a crucial enabler in increasing efficiency and reaching consumer expectations.
China’s express delivery industry showed rapid growth in 2020 due to the increasing popularity of e-commerce and the mushrooming local logistics networks, empowered by a set of new digital tools. The sector has strong growth potential, as the demand for delivery services is boosting the market. China’s express delivery industry handled over 83 billion packages in 2020, up by 30.8% Y-o-Y. The online retail sales of physical goods nationwide neared CNY 8.8 trillion in the first 11 months of 2020, accounting for a quarter of the total retail sales of national social consumer goods.
Key Market Trends
Rising E-commerce Sector to Boost the International CEP Market in China
China’s retail e-commerce market has been the largest in the world since 2013. Its sales grew 34-fold in 2020 compared to the world’s ninefold growth. In 2020, its sales stood at USD 2.3 trillion, representing just over half of the world’s e-commerce market total of USD 4.3 trillion.
In addition, China has the most online buyers and sellers, as it is the world’s most populous nation. At the end of 2020, it had 782 million online consumers, more than twice the US population, the next largest market. Its largest e-commerce platform, Alibaba’s Taobao, has 4.5 million active sellers in the country. Over 90% of e-commerce sales in China are done through mobile devices.
E-commerce growth in China is driven by tier 3 and 4 cities. Rural China saw significant growth as emerging middle-income group consumers with limited access to physical retail outlets turned to e-commerce. Although the COVID-19 crisis has led to a slump in overall consumer spending, it has increased e-commerce purchases.
Moreover, total retail sales of consumer goods are driven by e-commerce. In 2021, the e-commerce share in retail sales accounted for more than 24.5%, driven by strong growth in online purchases of physical goods. According to the China Internet Network Information Center (CNNIC), more than 842.1 million online shoppers supported e-commerce sales in the country in 2021, with a growth rate of 7.7% compared to 2020.
Increasing Volume of Parcel Shipments in China
China’s online retail sales expanded rapidly over the past decade and retained a Y-o-Y growth of 27.3%, above the average growth rate worldwide. Due to internet adoption across China, the penetration rate of online shopping reached almost 80% in 2021. The rising middle-class in China demand high-quality products without wanting to risk buying counterfeits.
Therefore, cross-border e-commerce platforms became their ideal option for shopping for foreign goods. Along with the ever-increasing use and distribution of mobile devices, shopping on smartphones or tablets has become a new norm for Chinese internet users. Apart from technology upgrades, the rise of small-town and rural residents’ purchasing power has also reshuffled the online retail landscape in China. Due to the increase in e-commerce, there is an increase in the number of parcels in China.
In April 2021, the number of parcels sent in the country accounted for more than 1.49 million. In addition, a total of 2.11 million packages were sent in January 2021, the highest volume in terms of parcels sent over the past 12 months.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
5 MARKET DYNAMICS
6 MARKET SEGMENTATION
7 COMPETITIVE LANDSCAPE
8 FUTURE OF THE MARKET
9 APPENDIX
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/5aekvh
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