Prime Minister Gen Prayut Chan-o-cha has tasked relevant agencies with supporting the growth of the parcel delivery business in Thailand.
Government Spokesperson Anucha Burapachaisri cited TTB Analytics’ data indicating that the parcel delivery business has grown rapidly over the past five years, with a market value of around 46 billion baht from 2018 to 2019. This figure has been growing by an average of 15% per year amid the expanding e-commerce market and increased technology use in people’s daily lives.
The COVID-19 pandemic further accelerated the growth of the parcel delivery business, with online purchases surging from 2020 to 2021.
As a result, the market value of the parcel delivery business grew by 30% during this period to around 70 billion baht. This trend continued in 2022 as the pandemic situation eased and economic activities resumed, with buyers becoming increasingly accustomed to purchasing items online. The parcel delivery business was subsequently valued at 96 billion baht in 2022.
TTB Analytics projects that the market value of the parcel delivery business will reach 115 billion baht in 2023, an 18% growth corresponding with an expected increase of 11% in the e-commerce market. (NNT)