Vietnam Courier, Express, and Parcel (CEP) Market Report and Forecast 2025-2034

Vietnam Courier, Express, and Parcel (CEP) Market Size

The Vietnam courier, express, and parcel (CEP) market reached approximately USD 2.02 billion in 2023. The market is projected to grow at a CAGR of 5.80% between 2024 and 2032, reaching a value of around USD 3.36 billion by 2032.

Vietnam Courier, Express, and Parcel (CEP) Market Outlook

• As per the industry reports, the airfreight sector in Vietnam was expected to reach USD 5.8 billion by the end of 2023, boosting the growth of the courier, express, and parcel sectors.

• The growth of e-commerce startups, focusing on last-mile delivery is one of the crucial factors increasing courier operations in the country.

• The Ministry of Industry and Trade (MOIT) is devising a strategy to develop a sustainable and efficient logistics sector between 2025 to 2035 and it aims to rank in the World Bank’s Logistics Performance Index (LPI) which can give a significant boost to the CEP market.

Vietnam, Courier, Express, and Parcel (CEP) Market Growth

The rapid rise of the e-commerce sector, growing urbanisation in cities such as Ho Chi Minh City and Hanoi, and ongoing developments in infrastructure including rail networks are some of the crucial market drivers. Better infrastructure enables quicker delivery times and broadens service reach to suburban and rural regions in the country. Additionally, the Vietnamese government has been actively promoting foreign direct investment (FDI) in logistics and infrastructure through the means of free trade agreements.

Vietnam's involvement in cross-border e-commerce and international trade agreements necessitates the requirement for effective cross-border logistics solutions. CEP firms are instrumental in facilitating the import and export of goods, thereby contributing to the demand of Vietnam courier, express, and parcel (CEP) market.

Moreover, both consumers and businesses are increasingly favouring express and same-day delivery services in the country. In order to meet this rising demand and improve customer satisfaction, CEP providers are investing heavily in technological developments and operational capabilities. Adding to this, digital payments and cashless transactions are also becoming more prevalent in the courier, express and parcel industries.

Key Trends and Recent Developments

A growing e-commerce sector, adoption of sustainable practices and rapid urbanization in the country are expected to influence the Vietnam courier, express, and parcel (CEP) market value.

November 2023

FedEx Express has inaugurated a new flight route aimed at enhancing intercontinental package delivery services between Vietnam and key markets across Asia, the Middle East, Africa (AMEA), as well as Europe. This move will help shorten transit times for goods and parcels between these regions.  

May 2023

Indonesia-based platform Gojek launched a partnership with Vietnamese startup Dat Bike embracing the trend of delivery service using electric motorbikes in the country. The collaboration will help electric motorbike maker Dat Bike expand its presence, while Gojek can go greener.

April 2023

As per the Vietnam courier, express, and parcel (CEP) industry analysis, Vietnamese food delivery and ride-hailing applications, Be and Baemin, have turned to EVs as an eco-friendlier means of transportation for their deliveries. The two companies believe that the use of electric motorbikes will not only help optimize the delivery service and reduce the environmental impact but also cut operational costs by 40%

January 2021

On-demand delivery platform Lalamove has stepped up its inner-city truck delivery services to meet the rising demand in Vietnam. Lalamove operates 1,700 trucks each day and is experiencing significant growth thereby generating more employment and stable incomes for over 12,000 drivers in Hanoi and Ho Chi Minh City. 

E-commerce sector is experiencing prominent growth

With an increased middle-income class and a fast-growing internet economy, Vietnam is experiencing rapid growth in the e-commerce sector. According to a report by Vietnam Ministry of Industry and Trade’s ‘E-Commerce and Digital Economy Department’, Vietnam’s e-commerce market recorded an estimated value of USD 13.7 billion in 2021. The surge in shopping from online platforms has accelerated the demand for efficient and reliable delivery services, thereby aiding the courier, express, and parcel (CEP) demand growth.

Market players are actively adopting sustainable practices

In order to reduce their carbon footprint and reduce the harm caused to the environment, several companies have started incorporating sustainable practices into their business models as consumers grow more conscious of the impact they have on the environment. Businesses are switching to electric vehicles for the transportation of parcels as a cleaner alternative to fuel-based vehicles.

Urbanization is leading to changing lifestyles and spending patterns

In 2022, nationwide, there were 37.4 million people living in urban areas, equivalent to 37.55% of the country's population. It is also projected that by 2040, more than half of Vietnam’s population will reside in urban areas and this percentage will reach nearly 57.3% by the year 2050. As Vietnam undergoes rapid urbanization, the consumer base for delivered products grows which in turn increases the demand for courier and parcel services.

The government is actively investing the transport and infrastructure development

As of 2022, Vietnam's infrastructure spending accounts for 6% of its GDP. This share is the second-highest in Asia, just after China. The country’s government has been investing heavily in its transportation, especially roads, airports and seaports which facilitates the functioning as well as growth of the courier, express and parcel market in Vietnam.

Vietnam Courier, Express, and Parcel (CEP) Industry Segmentation

“Vietnam Courier, Express, and Parcel (CEP) Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Service Type

• B2B (Business-to-Business)

• B2C (Business-to- Customer)

• C2C (Customer-to-Customer)

Market Breakup by Destination

• Domestic

• International

Market Breakup by Transportation Type

• Air

• Marine

• Road

• Railway

Market Breakup by End Use

• Services (BFSI- Banking, Financial Services, and Insurance)

• Wholesale and Retail Trade (E-Commerce)

• Manufacturing, Construction, and Utilities

• Others

Market Breakup by Region

• Southeast

• Red River Delta

• Mekong River Delta

• South Central Coast

• Others

Vietnam Courier, Express, and Parcel (CEP) Market Share

Based on transportation type, the market is divided into air, marine, road, and railway. Road transport accounts for a significant market share as it is the primary mode of transportation and the most flexible and commonly used method for last-mile delivery, connecting urban centres, suburban areas, and rural regions. Additionally, this mode of transport offers adaptability, enabling CEP companies to efficiently reach a wide range of destinations with the aid of vans, trucks, and motorcycles.

Leading Companies in the Vietnam Courier, Express, and Parcel (CEP) Market

The market participants are adopting technological innovations to enhance their operational efficiency.

• Deutsche Post AG

• United Parcel Service, Inc.

• FedEx Corp.

• Hai Four Bay Joint Stock Company

• Giao Hàng Nhanh

• Vietnam Post Corporation

• Vietstar Express JSC

• Viettel Post JSC

• Others

Key Highlights of the Report

Vietnam Courier, Express, and Parcel (CEP) Market Report Snapshots

Vietnam Courier, Express, and Parcel (CEP) Market Size

Vietnam Courier, Express, and Parcel (CEP) Market Growth

Vietnam Courier, Express, and Parcel (CEP) Market Share

Vietnam Courier, Express, and Parcel (CEP) Companies