Based on historical data, the value added of postal and courier services in Canada has shown a consistent upward trend since 2013, reaching 13.9 billion Canadian dollars in 2023. From 2022 to 2023, there was a year-on-year increase of 6.57%. Over the last two years (2021-2023), the average annual growth rate has been 6.92%. Looking at a longer period, the compound annual growth rate (CAGR) over the last 5 years (2018-2023) stood at 8.36%, showing robust sector growth.
Forecasts for the upcoming years (2024-2028) indicate continued growth, albeit at a slower pace, with a forecasted 5-year CAGR of 3.89% and an overall growth rate of 21% by 2028. This suggests that while the sector will maintain its positive trajectory, the acceleration might taper compared to the previous 5-year period.
Future trends to watch for:
- Increasing adoption of e-commerce, likely sustaining demand for postal and courier services.
- Technological advancements in logistics and delivery, potentially enhancing efficiency and reducing costs.
- Environmental sustainability trends, pushing for green delivery solutions which might impact operational dynamics.
- Market consolidation, which may influence competitive dynamics and pricing strategies.
