South Korea International Courier, Express, and Parcel Market to 2027 – Growth in Fashion Sector is Driving the Market – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “South Korea International Courier, Express, and Parcel (CEP) Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.

The South Korea International Courier, Express, and Parcel (CEP) market is estimated to grow at a CAGR of more than 5% during the forecast period (2022-2027).

During the COVID-19 outbreak, a lot of duty-free establishments were temporarily closed their doors. Shilla Duty-Free, Lotte Duty-Free, Shinsegae, and Shilla IPark Duty-Free are among the duty-free businesses affected by the coronavirus, while budget retailer E-Mart has also been added to the list. Outside of Seoul and metropolitan areas, distribution infrastructure has been expanded because of COVID-19.

Companies Mentioned

• CJ Logistics
• Aramex
• DB Schenker
• KOREA POST
• DHL
• Agility
• KERRY LOGISTICS NETWORK LIMITED.
• DSV
• HANJIN TRANSPORTATION CO., LTD.
• LOTTE GLOBAL LOGISTICS CO,.LTD
• Linex Solutions
• C.H. Robinson Worldwide, Inc.
• SEKO Logistics
• Nippon Express
• Guangdong S.F.
• FedEx

Key Market Trends

Increase in Volume of Parcel Shipments in South Korea

Parcel Shipments in South Korea witnessing significant growth, in 2021 the total parcel delivery volume accounted for 3.62 billion, which increased by 7.59% compared to 2020 (3.37 billion). Furthermore, the rate of increase in freight volume continued to increase from the previous year to 9.7% in 2019, 20.9% in 2020, and 7.59% in 2021.

Furthermore, in 2020, parcel shipments in Seoul climbed by 26.9% over the previous year, as a rising number of individuals prefer to order groceries and other daily essentials online in the wake of COVID-19’s spread. According to an industry assessment, due to the impact of the coronavirus epidemic, parcel deliveries of food, household supplies, and health products in the capital increased by roughly 50% in 2020. In contrast, the survey found that maternity and newborn care products were the only category with lower delivery shipments, indicating that the country’s birth rate is declining.

In 2020, parcel deliveries for household and health supplies, such as hand sanitizers and masks, increased by 52 percent year over year, while online meal delivery increased by 46 percent. Parcel shipping of furniture and interior goods also increased by 39 percent, compared with 31 percent for books and music albums, 29 percent for sports and leisure goods, and 16 percent for clothing. Notably, the volume of parcel delivery demand for DIY goods and supplies spiked in March, August, and December, when social distancing rules were strengthened. CJ Logistics reported a 21% rise in first-half operating profit and Hanjin Transportation posted a 35% increase. Those companies represent about a 64% of the delivery market.

Growth in Fashion Sector Driving the Market

South Korea saw Business to Customer (B2C) apparel e-commerce market grew faster in 2020 than between 2018 and 2019. Online retail sales of fashion sector (including clothing footwear, accessories, cosmetics, etc.) in the country increased year-over-year between January 2022 to January 2021 by more than 2.5%.

Furthermore, apparel and personal care sales are witnessing robust growth by more than USD 36 billion and USD 16 billion respectively in 2022. In addition, the year-on year growth rate of apparel and personal care sector are at 25% and 10% respectively in 2022 compared over 2021. However, more than 38 million people were purchasing consumer goods via e-commerce platforms.

Moreover, sales in fashion category are driven by increasing internet users in the country. In January 2022, more than 50.3 million internet users are there in the country, with more than 98% of total population using internet services. Also, South Korean citizens’ total annual spend on online consumer goods purchases accounted for more than USD 110 billion, with annual growth rate of 15%. In January 2022, total online sales accounted for more than KRW 16.54 trillion, in which more than 22% share of sales is contributed by fashion category.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Current Market Scenario

4.2 Technological Trends

4.3 Government Regulations

4.4 Overview of the Logistics and Warehousing Market in South Korea

4.5 Spotlight on Cross-Border Transportation in South Korea

4.6 Brief on South Korea Freight Forwarding Market

4.7 Spotlight on South Korea E-commerce Sector (Commentary on Domestic and Cross-border E-commerce)

4.8 Impact of COVID-19 on the CEP Market (Short-term and Long-term Impact on the Market and on the Economy)

5 MARKET DYNAMICS

5.1 Market Drivers

5.2 Market Restraints

5.3 Market Opportunities

5.4 Porter’s Five Forces Analysis

5.5 Supply Chain/Value Chain Analysis

6 MARKET SEGMENTATION

6.1 By Business

6.1.1 Business-to-Business (B2B)

6.1.2 Business-to-Customer (B2C)

6.1.3 Customer-to-Customer (C2C)

6.2 By Type

6.2.1 Ecommerce

6.2.2 Non-Ecommerce

6.3 By End User

6.3.1 Services

6.3.2 Wholesale and Retail Trade

6.3.3 Healthcare

6.3.4 Industrial Manufacturing

6.3.5 Others

7 COMPETITIVE LANDSCAPE

7.1 Overview (Market Concentration and Major Players)

7.2 Company Profiles

8 FUTURE OUTLOOK OF MARKET

9 APPENDIX

For more information about this report visit https://www.researchandmarkets.com/r/ivsrqv

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