The Courier, Express and Parcel industry in Malaysia is expected to register a growth rate more than 8% during the forecast period. The courier, express, and parcel market in Malaysia is mainly driven by the growth of e-commerce. Apart from e-commerce, services sectors, such as the banking, finance, and healthcare sectors, contribute to the growth of the CEP market. The evolution of technology is reshaping the entire supply chain, reinventing the parcel industry, and is becoming a crucial enabler in increasing efficiency and reaching the consumers’ expectations. Many startups are entering the market, leveraging digital technologies.
The Malaysian CEP market has great opportunities in the future for CEP operators. Even during the COVID-19 pandemic, the delivery operations are not being severely affected compared to some other countries.
The CEP industry is posting impressive growth across Malaysia driven by the growth in international trade, rising internet and smartphone penetration boosting the e-commerce sales, growing middle-class population and disposable incomes, and improved standards of living. The growing industrialization and busy lifestyles have increased the requirement for faster delivery.
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Key Market Trends
Growth of Malaysia E-Commerce Market
Malaysia’s e-commerce market is worth USD 4.3 billion and is expected to double to USD 8.1 billion by the year 2024, at 14% CAGR. Ecommerce growth in Malaysia is primarily driven by a growing number of digitally-savvy, middle-class who are looking for great deals and access to international brands. Here are the other major factors driving e-commerce growth in the region. Similar to other countries in Southeast Asia, grocery & FMCG e-commerce is rapidly growing in Malaysia. As per market estimates, Malaysia was ranked 2nd in the world’s fastest-growing grocery market list in 2018, with only Singapore registering a higher YoY increase. Malaysia boasts of an incredible 140% mobile penetration and 85% internet penetration. More than 26 million Malaysians access the internet, and 80% of users between the ages of 16 and 64 are already shopping online.
Since the Movement Control Order (MCO) went into effect on 18 March 2020, businesses and stores deemed non-essential were ordered to suspend operations. A key thing to notice is that e-commerce was quickly declared by the Government to be an essential service in Malaysia and allowed to operate. Malaysians took to ordering their daily supplies of groceries online and sending goods to friends and family using delivery services.
Healthcare Sector Driving the growth of the CEP Market
The CEP market in the healthcare and life sciences industry in Malaysia has grown significantly in recent years with the rising demand for pharmaceutical products, which necessitate express delivery systems across the country. Most of the pharma players utilize express logistics services for their time-sensitive deliveries of the shipment of goods via multi-modal transportation, primarily through air and road freight transport mediums. As healthcare spending is increasing, the logistics associated with this spend are high and require specialized solutions for which express, parcel delivery providers, and other logistics companies are competing to provide. Healthcare expenditure in Malaysia is expected to increase significantly as the sector in 2018 saw allocations increases to USD 7.1 billion, up 7.8% YoY. This is part of the Malaysian government’s goal to achieve its long term intention to be aligned with the World Health Organisation’s recommended healthcare spending of 7% of GDP. Healthcare now accounts for 10% of Budget Malaysia 2019. With increasing healthcare spending, the optimization of the supply chain will be imperative for manufacturers/service providers.
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A review of packaging solutions is also expected to provide more options in terms of transit time, transport route ambient profile, and network routing. It will also build resilience in the transportation of pharmaceutical products to cope with the possibility of more fundamental shifts in the post-COVID-19 supply chain. One should encourage protecting your valuable cargo with the most appropriate packaging to reduce the impact of external uncontrollable factors.
Competitive Landscape
The current landscape of logistics players in Malaysia is fragmented with a large number of players across the value chain. Pos Malaysia and GD Express are the major players in the country. Ground express logistics dominated the Malaysian courier and parcel market, B2B segment dominated the courier and parcel market in Malaysia. Autonomous vehicles, automated parcel, lockers and drone delivery are expected to be the major technologies emerging, driving the scope for competition among the players in the market.
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