Pitney Bowes Parcel Shipping Index Confirms Extended Effects of COVID-19 Lockdowns on Chinese Shipping Through 2022
Global parcel volume grew only 1 percent due to unprecedented slowdown in
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The Index estimates parcel volume will most likely reach 225 billion by 2028, with a 6% CAGR ‘23-’28, a change from 8% forecasted last year.
“China parcel volume had maintained a double-digit growth rate every year from ‘13 to ’21. However, in ‘22, COVID-related lockdowns caused a sharp slowdown,” stated Gregg Zegras, Executive Vice President, Global Ecommerce at Pitney Bowes. “As the world’s second-largest economy,
Over the past seven years, global parcel volume surged by 150 percent from 64 billion parcels in ‘16 to 161 billion in ‘22. In ‘22,
In '22, global parcel revenue declined by 1 percent to
Only the US,
Key findings from the latest Parcel Shipping Index include:
- Parcel volume reached 161 billion in ‘22, up 1 percent from 159 billion in ‘21
- 5,102 parcels shipped per second compared to 5,052 in ‘21
- Parcel revenue was
$485 billion, down 1 percent from $489 billionin ‘21
- Highest CAGR ‘17- ‘22 for parcel volume was generated by
Chinaat 23 percent, followed by Brazilat 20 percent
- Highest CAGR ’17-’22 for parcel revenue was generated by
Chinaat 17 percent, followed by the US at 13 percent and Italyat 12 percent Chinaremains the largest parcel volume market, contributing to the slow volume growth in ’22 due to its unprecedented low 2 percent parcel volume increase United Statesremained the market with the highest carrier revenue, reaching $198 billion, an increase of 7 percent year-over-year
- While there is strong alignment between parcels per person and GDP per capita in the US,
Germany, Brazil, and India, parcels per person in China, Japan, and UKexceed GDP, most likely due to significant exports. In Norway, Sweden, and Australiathere is a reverse effect, with low parcels per person compared to GDP, suggesting a fairly low penetration of Ecommerce.
- We analyzed relationships between parcel volume growth and Ecommerce growth, and discovered that in the US,
Canada, Brazil, Japan, and Indiathere is a large 12 to 8 percent gap between parcel volume growth and Ecommerce growth, influenced by online purchases that don’t require parcel shipping, such as online groceries, Click-and-Collect and alternative delivery methods (gig drivers, drones, bicycle deliveries in India). In the remaining countries, the parcel volume and Ecommerce growth are well aligned with a low gap, where online purchases utilize traditional carrier-based shipping methods.
For detailed insights by region, please download the eBook here.
The Shipping Index is an example of research Pitney Bowes conducts annually to provide insight and forecasts on the shipping and logistics industry. Pitney Bowes also conducts BOXpoll™ a series of consumer surveys. Please visit www.pitneybowes.com/boxpoll for the latest BOXpoll findings.
About the Pitney Bowes Parcel Shipping Index
The Pitney Bowes Parcel Shipping Index measures parcel volume and spend for business-to-business, business-to-consumer, consumer-to-business and consumer consigned shipments with weight up to 31.5kg (70 pounds) across
About Pitney Bowes
Pitney Bowes (NYSE: PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the latest news, corporate announcements and financial results visit https://www.pitneybowes.com/us/newsroom.html. For additional information visit Pitney Bowes at www.pitneybowes.com.
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Source: Pitney Bowes Inc.