The global parcel volume reached 161 billion in 2022, equivalent to 5,102 parcels shipped every second, marking a 1% increase from 2021, according to data from Pitney Bowes. Notably, the index reveals China’s parcels experienced the slowest growth in its history, reaching 111 billion parcels in 2022, with only a 2% increase.
The index estimates parcel volume will most likely reach 225 billion by 2028, with a 6% CAGR 2023-2028, a change from 8% forecasted last year.
“China 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,” says Gregg Zegras, EVP, global e-commerce at Pitney Bowes. “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 ecommerce sales, and an overall weak economy, projecting a 7 percent parcel volume CAGR 2023-2028.”
From Pitney Bowes:
- Pre-pandemic, China parcel volume forecast was 24% CAGR 2018-2022 and actual volume growth was lower, at 20% CAGR 2018-2022.
- Over the past seven years, global parcel volume surged by 150% from 64 billion parcels in 16-161 billion in 2022. In 2022, India led with the highest increase at 18% driven by e-commerce expansion, while Italy (4%), China (2%), Australia (2%) and Brazil (2%) also showed growth. However, Sweden and Canada experienced significant declines at –11% and –9%, respectively.
- In 2022, global parcel revenue declined by 1% to $485 billion.
- Parcel revenue was $485 billion, down 1% from $489 billion in 2021.
- United States remained the market with the highest carrier revenue, reaching $198 billion, an increase of 7% year-over-year.