India's express parcel market to touch 24-29 billion shipments by FY30: Report

India's express parcel market is set for substantial growth, projected to reach 24-29 billion shipments by FY30, driven by the rapid expansion of e-commerce, hyperlocal deliveries, and quick commerce, according to a Redseer report. In FY25, the market is estimated to grow to 10-11 billion shipments, with e-commerce accounting for over 50% of the total, contributing approximately 4.8-5.5 billion shipments. Increased digital adoption, urbanization, and consumers’ comfort with online shopping fuel this surge, prompting express logistics players to adapt their strategies to capture the expanding opportunities. 

Traditional couriers, representing around 17% of the market with 2 billion shipments, are expected to grow at a slower CAGR of 7% until FY30. In contrast, e-commerce shipments are forecasted to grow at a robust CAGR of 23-24%, reaching 15-16 billion shipments by FY30. Factors such as expanded product categories, deeper geographical reach, and improved supply chain infrastructure accelerate this growth. Additionally, the distinction between traditional couriers and e-commerce logistics providers is blurring as both sectors diversify into new service areas. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.