Millennials and Generation Z to Dictate Future of Last-mile Delivery Market : Fairfield Market Research
LONDON, Jan. 13, 2021 /PRNewswire/ -- The last mile delivery market is expected to flourish in the coming years as consumers continue to opt for online shopping with rise of e-commerce platforms. Increasing expectations from last mile deliveries from both seller and buyers' side have become integral to the shape the global last mile delivery market. For instance, the option of same day or instant deliveries at affordable prices have significantly bolstered the demand for last mile delivery solutions. The latest report by Fairfield Market Research indicates that the market will witness a growth of 16% during the forecast period of 2020 to 2025 as online shopping gradually replaces traditional shopping avenues.
Adoption of Food Delivery Robots Gives FMGC Sector a Leg-up
The FMGC sector is expected to hold 37% in the global market by the end of the forecast period as this sector has the largest consumer base. Rise of e-commerce and excellent last mile delivery solutions, making supply of essential items seamless, have expanded the FMCG sector in recent times. The demand for FMCG goods is expected to soar with growing number of online mediums as it has emerged as a convenient option during the COVID-19 lockdowns.
The pandemic that resulted in lockdowns across numerous countries forced consumers to stay home and order online. This has significantly prompted adoption of food delivery robots for short distance deliveries. FMGC industry is developing these robots with separate compartments for cold and hot food items. Companies such as Wing Aviation LLC,Kiwi Campus and Boxbot are already partnering with numerous food joints and local restaurants to facilitate the same in the U.K, U.S. and Australia.
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Growing Consumer Base and Investments to Boost Last Mile Delivery Market in Asia Pacific
Analysts at Fairfield Market Research assess that Asia Pacific will dominate with a share of 40% in the global last mile delivery market as this region has a booming population of Millennials and Generation Z. Inclination to spend disposable incomes on online shopping, through comfort of homes, has played a significant part in encouraging market growth. This region has large consumer base with countries such as India and China that will bolster demand for the last mile delivery market. Rise of foreign investments in this region is also expected fuel regional market.
Key Players to Adopt Strategies to Maintain Supply Chain and Consumer Demand
Analysts at Fairfield Market Research anticipate the competition to increase as barrier to entry remains low. New entrants are developing quicker delivery business models, intensifying the competition. Players in the market are adopting various strategies such as collaboration, mergers & acquisition and joint ventures to stay ahead of the competition.
Key players are examining new ways to sustain as demand and supply dynamics continue to change. Numerous retail outlets and restaurant operators are collaborating with last mile delivery service providers to manage supply chain and logistics. The market is undergoing innovative advancements to attain cost efficiency and better productivity.
The key players operating in the global last mile delivery market are Cargo Carriers, CJ Logistics, CEVA Logistics, Concargo Private Ltd, DB SCHENKER, Interlogix Pty Ltd., DHL Paket GmbH, Estes Express Lines, FedEx Corporation, Kuehne + Nagel, Nippon Express Co., Ltd., J&J Global Limited, KART, SNCF Geodis, Swift Transportation, TNT Holding B.V., Procet Freight, Tuma Transport, Yamato Holdings Co., Ltd. and United Parcel Service Inc. among others.
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