Pitney Bowes Parcel Shipping Index Confirms Extended Effects of COVID-19 Lockdowns on Chinese Shipping Through 2022
- Global parcel volume reached 161 billion in '22, marking a 1 percent increase from '21.
- China's parcel volume experienced the slowest growth in its history, reaching 111 billion parcels in '22 with only a 2 percent increase.
- The Index estimates parcel volume will most likely reach 225 billion by 2028, with a 6% CAGR '23-'28.
- Global parcel revenue declined by 1 percent to $485 billion in '22.
- Sweden and Canada experienced significant declines in parcel volume at -11 percent and -9 percent respectively.
- China's revenue per parcel is $1.4, the lowest globally.
Global parcel volume grew only 1 percent due to unprecedented slowdown in
The Index estimates parcel volume will most likely reach 225 billion by 2028, with a
“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
, down 1 percent from$485 billion in ‘21$489 billion -
Highest CAGR ‘17- ‘22 for parcel volume was generated by
China at 23 percent, followed byBrazil at 20 percent -
Highest CAGR ’17-’22 for parcel revenue was generated by
China at 17 percent, followed by the US at 13 percent andItaly at 12 percent -
China remains the largest parcel volume market, contributing to the slow volume growth in ’22 due to its unprecedented low 2 percent parcel volume increase -
United States remained the market with the highest carrier revenue, reaching , an increase of 7 percent year-over-year$198 billion -
While there is strong alignment between parcels per person and GDP per capita in the US,
Germany ,Brazil , andIndia , parcels per person inChina ,Japan , andUK exceed GDP, most likely due to significant exports. InNorway ,Sweden , andAustralia there 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 , andIndia there 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 inIndia ). 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230809471409/en/
John Spadafora
Pitney Bowes
M +1 518 708 3466
john.spadafora@pb.com
Source: Pitney Bowes Inc.
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