Exhibiting an impressive CAGR of more than 16.6% between 2021 and 2025, global last mile delivery market is poised for a highly promising growth outlook as indicated by the latest report published by Fairfield Market Research. The report suggests that the market will largely benefit from the explosive worldwide growth in demand for doorstep delivery of goods that gained a prominent push over the recent past amid the pandemic situation. FMCG sector reportedly continues to be the leading revenue generator. While the pandemic situation amid COVID-19 outbreak catalysed the establishment of autonomous, and contactless delivery models. Over the course of next few years, electric vehicle (EV) last mile will gain firmer ground, says the report. Companies are likely to increase their dependence on technology to build efficiency of last mile delivery systems.
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FMCG Remains the Top Revenue Generator for Last Mile Delivery Service Providers
The expanding smartphone user base across both urban and semi-urban areas, and solid e-commerce expansion continue to be the mainstay for the delivery service industry. While doorstep delivery services have been experiencing an explosive hike in demand over the recent past, fast-moving consumer goods (FMCG) have remained the largest contributing segment to this demand generation. The pandemic situation provided a strong breeding ground for a number of delivery service providers that have been maintaining their strategic focus on leveraging the escalating demand from FMCG sector. Currently, FMCG reportedly accounts for more than 37% of the total market revenue and the trend will prevail throughout the forecast period. Besides, F&B supplies, and pharma and healthcare represent a collective revenue share of more than one-third of the market valuation.
New Opportunities Unlock with Emergence of Direct-to-consumer Models, and Direct Collaborations
The report reveals that nearly 25% of consumers readily pay a premium for the same-day delivery services, which is likely to stimulate new trends, and innovations in the market. The onset of winters in the Western world will further stimulate trends like faster/premium/same-day delivery in the backdrop of winter gifting protocols. As far as F&B supplies are considered, companies are more likely to consider joint ventures to ensure growth in long term. The competition across domestic markets has been consistently growing intense, which compels service providers to consider direct-to-consumer models on priority. Research highlights a massive opportunity residing in direct collaborations of delivery suppliers with retailers, and restaurants.
Key Players in Global Last Mile Delivery Market
The report sheds light on the competition landscape of last mile delivery market space. It reveals the exclusive information about some of the leading market players to offer strategic insights into them. FedEx Corporation, CJ Logistics, Cargo Carriers, CEVA Logistics, Nippon Express Co., Ltd., Kuehne + Nagel, United Parcel Service Inc., Concargo Private Ltd, DB SCHENKER, Interlogix Pty Ltd., DHL Paket GmbH, Yamato Holdings Co., Ltd., J&J Global Limited, KART, and Estes Express Lines.
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