India outperforms leading economies including the US, the UK, China, Japan, Italy, Australia, Brazil, Sweden, Norway, France, and Canada, with the highest growth in parcel volumes in 2022 as per research released by Pitney Bowes
New Delhi: India’s parcel volumes increased to 18% in 2022 from 8% in 2021 to make it the country with the highest growth in parcel volumes, surpassing all other countries measured by Global shipping and mailing company Pitney Bowes Inc. in its Parcel Shipping Index 2022, according to a release by the company.
Pitney Bowes Inc. released the new Parcel Shipping Index, featuring 2022 data from 13 major countries around the world. According to the Index, India surpassed all other countries measured in the Index, including the US, UK, China, Germany, Japan, Italy, Australia, Brazil, Sweden, Norway, France, and Canada, the released added.
In 2022, India shipped, received, and returned 3.2 billion parcels, surpassing the expectations of pre-pandemic forecasts. This figure represents a substantial increase from the 8% growth witnessed in 2021, illustrating the accelerated momentum of e-commerce activities.
With an average of 8.8 million parcels shipped each day, amounting to 102 parcels per second, India demonstrates its position as a thriving market for both domestic and international parcel shipping.
The per capita parcel volume in India experienced a substantial surge, from a single-digit 7% increase in 2021 to an impressive 16% growth in 2022. This surge translated to an average of 10 parcels shipped per household in 2022, reflecting the growing reliance on e-commerce for the daily needs of Indian families.
“After a sharp decline in parcel volume at -21% in 2020 and marginal growth of 8% in 2021, it’s fitting to see India’s recovery with the highest surge in global parcel volume at 18%, indicating a future brimming with opportunities for India’s e-commerce ecosystem,” Pankaj Sachdeva, managing director, India Innovation, Pitney Bowes said.
The Index further revealed that the global parcel volumes increased by 1% in 2022, impacted largely due to the lockdowns in China. China parcels grew at the slowest rate in Index history, hitting 111 billion parcels in 2022, marking only a 2% growth due to lockdowns and COVID outbreaks.
The Index estimates parcel volume in India will most likely reach 5 billion by 2028, with a 6.5% CAGR from 2023-2028. Overall, carriers saw an increase in revenue in 2022 from 2021. SafeEx generated the highest revenue of $874 million with YOY (year-on-year) growth of 12%, followed by BlueDart at $855 million and Delhivery at $634 million, DTDC at $512 million, followed by Amazon Logistics at $498 million.
The Pitney Bowes Parcel Shipping Index measures parcel volume and spends for business-to-business, business-to-consumer, consumer-to-business and consumer-consigned shipments with weights up to 31.5kg across Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Norway, Sweden, the United Kingdom and the United States. Population data points were sourced from Macrotrends.net. The Index represents the parcel shipping activity of 3.7 billion people.
Pitney Bowes is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 % of the Fortune 500.
