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Vietnam Express Industry
The Vietnam courier, express and parcel (CEP) services market is valued at US$710 million in 2021, reaching US$900 million in 2022 and is expected to exceed the US$4.9 billion mark by 2030, growing at a CAGR of about 23.8% from 2023 to 2030.
Vietnam Courier Services offers a range of services including same or next day delivery, international delivery and specialized services such as refrigerated transport of perishable goods. Courier services in Vietnam use a variety of transportation methods, including motorcycles, trucks and airplanes, to ensure fast and efficient delivery of packages.
According to the Ministry of Trade and Industry, in 2022, Vietnam's retail e-commerce market is estimated to be US$16.4 billion, accounting for 7.5% of the country's total retail market sales and the second highest percentage of online shopping in Southeast Asia, after Singapore.The CAGR of Vietnam's e-commerce retail sales from 2018-2022 reached 19.3%.In 2022, Shopee, Lazada, Tiki and Sendo are the top four e-commerce platforms in Vietnam with a total revenue of VND135 trillion (approximately US$5.75 billion). Vietnam's e-commerce industry is ranked by eMarketer as one of the top 5 countries in the world for e-commerce growth with an annual growth rate of 20%. According to the 2022 Vietnam E-Commerce White Paper, Vietnam's e-commerce economy 2022 will set a number of annual records. Specifically, the number of online shoppers in Vietnam will reach 57 million for the first time in 2022, and 74.8% of Vietnam's Internet users will shop online. In addition, for the first time, Vietnam's online shopping transactions reached US$260-285 per capita, and the market share of B2C e-commerce in Vietnam's total retail sales of consumer goods and services exceeded 7%, reaching 7.5%.
According to CRI, the retail sales of e-commerce will reach US$ 50.94 billion in 2032 and the CAGR in 2023 to 2032 is 12%.
Currently, Vietnam's retail market size is about US$250 billion, providing vast space for e-commerce development. The Vietnamese government has proposed a target to increase the share of e-commerce sales to 20% of total retail sales. According to the Vietnam E-Commerce White Paper 2022, Vietnam's e-commerce market will reach US$39 billion by 2025, ranking second in Southeast Asia in terms of e-commerce growth. The growing e-commerce sector will provide opportunities for the country's foreign and local logistics services, particularly courier services. The Vietnam E-Commerce and Digital Economy Agency (iDEA) predicts that Vietnam's e-commerce market will reach $23 billion by 2025. According to the Vietnamese government's plan, by 2025, the number of online shoppers will account for about 55% of the country's total population and the average annual spending will reach $600.
Topics covered:
- Vietnam Express Industry Overview
- The economic and policy environment of Vietnam's express industry
- What is the impact of COVID-19 on the courier industry in Vietnam?
- Vietnam courier industry market size, 2023-2032
- Analysis of major Vietnamese courier industry producers
- Key Drivers and Market Opportunities in Vietnam's Express Industry
- What are the key drivers, challenges and opportunities for the express industry in Vietnam during the forecast period 2023-2032?
- Which companies are the key players in the Vietnam courier industry market and what are their competitive advantages?
- What is the expected revenue of Vietnam courier industry market during the forecast period of 2023-2032?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Vietnam courier industry market is expected to dominate the market by 2032?
- What are the main unfavorable factors facing the express industry in Vietnam?