The global courier services market revenue was around US$ 382 billion in 2021 and is estimated to reach US$ 659.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2022 to 2031.

Courier service is a facility or service that allows for the quick and efficient pickup and delivery of products or documents from one location to another. A business that offers this service is known as a courier company. A courier business assesses a fee for the cargo based on its weight and the urgency of its delivery.

Factors Influencing Market Growth

Growth of the e-commerce sector and rise in demand for package delivery in time. Such factors propel the market growth.

Increase in the use of courier services by individual consumers to ship documents such as printed materials, original certificates, and others. Thus, these factors drive market expansion.

Rise in the use of services for official documents, such as passports, banking documents, and other business-related paperwork. Such factors drive market growth.

Poor infrastructure and greater shipping costs are the two main factors that constrain market expansion.

Study of the COVID-19 Pandemic

The COVID-19 pandemic had a negative impact on the market. Due to the government enacted a lockdown global supply systems halted. chains have suffered significant damage and international transportation had subject to strict regulations, especially for air traffic. Therefore, during the first few months of COVID-19, cross-border shipping was virtually impossible.

The pandemic had led to a decrease in documents and letters parcels, while e-commerce parcels have grown. During a crisis, the e-commerce and daily essentials sector is anticipated to have a beneficial impact on the courier services sector. B2C services emerged during the pandemic as B2B courier services struggled and came to an end due to the rapid expansion of the online retail and e-commerce industries.

Regional Insights

Asia Pacific is anticipated to dominate the market. Due to the rise in e-commerce, rapid population growth, rise in disposable incomes & standards of living, high government support for the development of logistics infrastructure, and expansion of global trade, the demand for last-mile delivery services in this region is anticipated to experience rapid growth in the coming years. Additionally, a considerable increase in online retail sales and a rise in the demand for fast-moving consumer goods (FMCG) are both anticipated to support the expansion of the courier services market in this region.

Leading Competitors

The leading competitors in the global courier services market are:
United Parcel Service Inc
SG Holdings Co. Ltd
Yamato Holdings Co. Ltd
Deutsche Post DHL Group
FedEx Corporation
Singapore Post Ltd
Nippon Express
PostNL NV
DB Schenker
Qantas Courier Limited
SF Express (Group) Co. Ltd
DSV AS
Others
Segmentation Analysis
The global courier services market segmentation focuses on Service Type, Destination, End Use, and Region.
Segmentation based on Service Type
B2B
B2C
C2C
Segmentation based on Destination
Domestic
International
Segmentation based on End Use
Services
Wholesale and Retail Trade
Healthcare
Industrial and Manufacturing
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Brazil
Argentina
Rest of South America