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The US - Courier, Express, and Parcel (CEP) Market size is estimated to grow at a CAGR of 6.25% between 2022 and 2027. The market size is forecast to increase by USD 31.8 billion. The growth of the market depends on several factors, such as the adoption of new technologies in courier, express, and parcel supply chain network systems, the growing fast-moving consumer goods (FMCG) industry, and the increasing globalization and international trade.
This report extensively covers market segmentation by consumer (B2B, B2C, and C2C) and delivery (domestic and international). It also includes an in-depth analysis of drivers, trends, and challenges.
US Courier, Express, and Parcel Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The FMCG industry comprises all the products that are consumed on a day-to-day basis and have a high turnover rate such as food and beverages, personal care items, and household cleaning products, among others. The rapid growth of FMCG in the US and constantly changing consumer demands, it has fuelled the need for efficient and timely distribution of FMCG products which will significantly contribute to the market growth.
Furthermore, the rapid increase in population coupled with the rise in disposable income increases the purchasing power of consumers which in turn will result in higher consumer spending on daily necessities. Therefore, these factors will positively impact the US courier, express, and parcel (CEP) market growth. Moreover, factors such as changing lifestyles, convenience, and the growth of e-commerce will drive the US courier, express, and parcel market growth during the forecast period.
There is an increase in the growth of several e-commerce platforms due to the factors such as the expansion in digital payment modes, low-cost and faster mobile Internet connections, and increasing comfort with shopping online among people. As a result of this growth of the E-commerce industry, it is significantly fuelling the growth of e-commerce startups.
Moreover, there is a growing popularity for the E-commerce space post-pandemic. Additionally, several venture capitalists(VC) in the US are highly investing in E-commerce startups and there is an increasing adoption of E-commerce platforms by several businesses to offer an omnichannel experience to consumers which will positively impact the US courier, express, and parcel (CEP) market. Hence. such factors are expected to drive US courier, express, and parcel market growth during the forecast period.
One of the crucial aspects of a critical aspect influencing the courier, express, and parcel market in the US is the safety of packages during transportation. Packaging and labeling play an important role in establishing the brand name of the company. The transportation industry still faces challenges regarding supply chain visibility even after the advent of advanced tracking technology.
Additionally, several e-commerce market players are innovating new techniques to ensure the safe delivery of courier packages. One of the main reasons for the implementation of such techniques is due to factors such as thefts which are negatively impacting the US courier, express, and parcel (CEP) market growth. Furthermore, as per estimates, one out of every ten courier packages is damaged. Hence, such factors are expected to hinder the US courier, express, and parcel market growth during the forecast period.
The B2B segment is estimated to witness significant growth during the forecast period. B2B transactions can be referred to as commercial transactions in which corporations procure products for their manufacturing operations as opposed to the typical transactions between the public and the government. This segment of the courier, express, and parcel market in the US encompasses business-oriented transactions and B2B sales. Some of the main factors which are significantly contributing to the growth of this segment include the growth of the e-commerce market and Internet penetration in the US.
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The B2B segment was the largest segment and was valued at USD 40.32 billion in 2017. Additionally, US manufacturers and distributors increased total B2B sales to USD 14.86 trillion in 2022, up 14.5% from $12.98 trillion in 2021, even though there are several challenges such as inflation, supply chain instability, and a labor shortage. Furthermore, factors such as the need for timely and reliable delivery of vital business materials such as essential documents, contracts, legal papers, invoices, samples, and other time-sensitive items have fuelled the growth of this segment which, in turn, will drive the US courier, express, and parcel market growth during the forecast period.
Based on delivery, the segment is classified into domestic and international. One of the important and robust components of the courier express, and parcel market in the US is the domestic segment. It mainly comprises the movement of packages and parcels within the country and plays a crucial role in meeting the rising demand for fast, reliable, and convenient deliveries. The growth of e-commerce is significantly fuelling the growth of this segment as the growth of online shopping has increased the need for efficient and effective home deliveries. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the US courier, express, and parcel market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Allied Express Transport Pty Ltd: The company offers courier, express, and parcel such as Economy, Express VIP, Express Executive, and Express Gold.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Aramex International LLC, Canada Post Corp., Deutsche Post AG, DTDC Express Ltd., FedEx Corp., First Flight Courier Ltd., India Post, Japan Post Holdings Co. Ltd., Korea Post, La Poste, Nippon Express Holdings Inc., One World Express Inc. Ltd., Otto GmbH and Co. KG, Royal Mail Plc, SF Express Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., United States Postal Service, and Yamato Transport Co. Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The US courier, express, and parcel market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
US Courier, Express, And Parcel Market Scope |
|
Report Coverage |
Details |
Page number |
129 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.25% |
Market growth 2023-2027 |
USD 31.8 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.38 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allied Express Transport Pty Ltd., Aramex International LLC, Canada Post Corp., Deutsche Post AG, DTDC Express Ltd., FedEx Corp., First Flight Courier Ltd., India Post, Japan Post Holdings Co. Ltd., Korea Post, La Poste, Nippon Express Holdings Inc., One World Express Inc. Ltd., Otto GmbH and Co. KG, Royal Mail Plc, SF Express Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., United States Postal Service, and Yamato Transport Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Consumer
7 Market Segmentation by Delivery
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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