India’s parcel volumes soar by 18% in 2022 : Pitney Bowes Index

After experiencing two years of growth driven by the pandemic, India’s parcel volumes surged to 18% in 2022, a significant leap from the 8 percent recorded in 2021. This exceptional growth has positioned India as the frontrunner in parcel volume expansion, outpacing all other countries assessed in the Pitney Bowes Index. Notably, India has surpassed nations such as the US, UK, China, Germany, Japan, Italy, Australia, Brazil, Sweden, Norway, France, and Canada.

The Pitney Bowes release highlights, “This remarkable accomplishment underscores India’s flourishing ecommerce sector and its commitment to embracing digital transformation.”

In 2022, India successfully handled, received, and returned a staggering 3.2 billion parcels, exceeding the projections made before the pandemic. This impressive figure marks a substantial escalation from the 8 percent growth observed in 2021, vividly illustrating the accelerated momentum of ecommerce operations.

With an average daily shipment of 8.8 million parcels, equating to an astonishing 102 parcels per second, India solidifies its status as a thriving market for both local and international parcel shipments. The per capita parcel volume in India experienced a significant surge, transitioning from a modest 7 percent increase in 2021 to an impressive 16 percent expansion in 2022. This surge translated to an average of 10 parcels shipped per household in 2022, underscoring the increasing reliance on ecommerce for the daily necessities of Indian families.

“Following a steep 21 percent decline in parcel volume in 2020 and a modest growth of 8 percent in 2021, India’s remarkable recovery with the highest surge in global parcel volume at 18 percent is fitting, indicating a future full of opportunities for India’s ecommerce ecosystem. The substantial increase in India’s per capita parcel volume further demonstrates the growing reliance on ecommerce for the daily needs of Indian families.”

Pankaj Sachdeva, Managing Director, India Innovation at Pitney Bowes

The Index also disclosed that global parcel volumes experienced a 1 percent increase in 2022, largely impacted by lockdowns in China. China’s parcel growth reached its slowest rate in Index history, totaling 111 billion parcels in 2022, reflecting a mere 2 percent growth due to lockdowns and COVID outbreaks. Notably, China’s parcel volume had maintained a Compound Annual Growth Rate (CAGR) of 23 percent from 2017 to 2022. The pre-pandemic forecast for China’s parcel volume CAGR from 2018 to 2022 was 25 percent, while the actual CAGR for the same period was 22 percent.

The Index predicts that India’s parcel volume is likely to reach 5 billion by 2028, with a projected CAGR of 6.5 percent from 2023 to 2028.

Overall, all major carriers in India witnessed a revenue increase in 2022 compared to 2021. SafeEx led with the highest revenue of $874 million, exhibiting a year-over-year growth of 12 percent. It was followed by BlueDart at $855 million, Delhivery at $634 million, DTDC at $512 million, and Amazon Logistics at $498 million.

Leave a Reply

Your email address will not be published. Required fields are marked *

LATEST NEWS