Pitney Bowes Inc., a global technology company that provides commerce solutions in the areas of e-commerce, shipping, mailing, data and financial services, on Thursday released the new Parcel Shipping Index featuring 2021 data from 13 major markets around the world. The Index reveals that India saw a 7% increase in parcel volume growth from 2.5 billion in 2020 to 2.7 billion in 2021. It generated $5.25 billion in 2021 from $3.98 billion in 2020, recording the second highest revenue growth of 32%, after Sweden at 38%, across 13 major markets for which data was gathered during the survey. Global parcel volume reached 159 billion in 2021 equating to 5,000 parcels per second. Total carrier revenue reached $491.5 billion. The Index estimates global parcel volume will most likely reach 256 billion by 2027, with an 8.5% CAGR from 2022-2027.
The seventh edition of the Pitney Bowes Parcel Shipping Index finds parcel volume increased across all regions in 2021. After a sharp decline of -21% in 2020 due to pandemic-related closures of some cities, India’s growth in parcel volume represents a milestone for the shipping industry. In 2021, India recorded the second highest parcel revenue and the revenue generated per parcel, per person reached $1.9 up 23% from 2020 ($1.6). Each day, India ships 7.3 million parcels. The report also highlights that parcels shipped per capita averaged 1.9 in 2021 compared to 1.8 in 2020. Parcel volume per household is a new measure included in this year’s Index. An average of 137 parcels were shipped per household across all countries. All countries reported double-digit revenue growth except Japan which fell by 3%.
Key findings from the latest Parcel Shipping Index include:
* Parcel volume in India reached $2.7 billion in 2021, up 7% from $2.5 billion in 2020
* Parcel revenue in India grew by 32% and reached $5.25 billion in 2021 since $3.98 billion in 2020
* India shipped 85 parcels per second in 2021; up from 79 parcels per second in 2020
* Highest CAGR 2015-21 for parcel revenue was generated by China at 26% followed by India at 15%
* Highest CAGR 2015-21 for parcel volume was generated by China at 32% followed by Brazil at 20%; Sweden at 15% and India at 13%
* India generated the second highest carrier revenue growth, following a sharp decline in 2020
* In 2021 India generated a 32% year-over-year increase in parcel revenue reaching $5.25 billion
The Pitney Bowes Parcel Shipping Index measures volume and spend for business-to-business, business-to-consumer, consumer-to-business, and consumer-consigned shipments with weight up to 31.5 kg (70 lbs.) in 13 major markets, representing 3.8 billion people in the US, Canada, Brazil, Germany, UK, France, Italy, Norway, Sweden, China, Japan, Australia and India. Based on proprietary and published data, the Index has become a valued industry benchmark and a reliable source of accurate forecasting since the inaugural report in 2016, as per a release.
Source: Exim News Service: New Delhi, Sept. 22