Global parcel volume hits 161 bn in 2022

The index estimates parcel volume will most likely reach 225 billion by 2028, with a 6 per cent compound annual growth rate (CAGR) for 2023-28, a change from 8 per cent forecasted last year. Over the past seven years, global parcel volume surged by 150 per cent from 64 billion parcels in 2016 to 161 billion in 2022, according to the Global Parcel Shipping Index by Pitney Bowes Inc, a shipping and mailing company.

In 2022, India led with the highest increase at 18 per cent driven by e-commerce expansion, while Italy at 4 per cent, China at 2 per cent, Australia at 2 per cent, and Brazil at 2 per cent also showed growth. However, Sweden and Canada experienced significant declines at –11 per cent and –9 per cent respectively.

In 2022, global parcel revenue declined by 1 per cent to $485 billion, impacted by strong USD and its increase in value compared to other currencies in the Index.

Only the US, Brazil, India, and Australia saw growth in parcel revenue, with the US leading in carrier revenue with 7 per cent growth in 2022. Revenue per parcel varied significantly, with Canada highest at $9.8, followed by the US at $9.3 and France at $9.1. Despite lower volume, the US generated more revenue than China due to a significantly higher fee per parcel—almost seven times that of China. China’s revenue per parcel is $1.4, the lowest globally, followed by India at $1.7 and Norway at $1.9.

Gregg Zegras, executive vice president, global e-commerce at Pitney Bowes, said: “China's parcel volume had maintained a double-digit growth rate every year from 2013 to 2021. However, in 2022, COVID-related lockdowns caused a sharp slowdown. As the world’s second-largest economy, China is experiencing a frail pace of growth during its COVID recovery. We’re seeing volume slowdown, declining e-commerce sales, and an overall weak economy, projecting a 7 per cent parcel volume CAGR 2023-2028.”

Fibre2Fashion News Desk (NB)