Singapore Last Mile Delivery Market Size (2024 - 2029)

Singapore Last Mile Delivery Market Analysis

Singapore's last-mile delivery market is valued at about USD 28 Billion and is expected to record a CAGR of more than 8% during the forecast period.

• Consumers regard food and grocery delivery services as a new way of life, instead of a necessity during Covid, and an indulgence before that seven in 10 consumers said that deliveries had become a permanent part of their life today. Among active users surveyed, the top three reasons for using these services were convenience, the ability to access what they want on demand, and preparation for social gatherings. Consumers are placing more orders and spending more money per purchase as deliveries have become a constant lifestyle. Monthly food and grocery delivery costs were 30% higher in May 2022 than in November 2021. Vietnamese customers placed the most orders in the region, while Singaporeans paid the most for deliveries. In total, the top 25% of heaviest consumers were responsible for over 71% of the region's delivery costs. In Southeast Asia, they most frequently utilised the GrabFood brand to distribute food.
• The Singaporean e-commerce business is dependent on these last-mile deliveries as it continues to grow and is expected to have 4.1 million clients by 2025. It is difficult to locate and select the finest last-mile carrier to handle the goods transported by e-commerce enterprises to end-users in and out of the country as a result of the abundance of service providers.
• At the nation's Transport and Logistics Industry Day on October 31, 2022, Singapore unveiled Technical Reference (TR 105), a new standard for parcel delivery's last mile. E-commerce firms and logistics service providers (LSPs) can standardise methods and practises to enhance the workflow and experience of last-mile deliveries by following the TR 105 principles (LMDs). TR 105 guides in areas such as packaging, labelling, data collection and transmission, communication content and operational practices. The standard aims to establish industry-wide consistency in LMD services for the benefit of consumers and retailers. By standardising packaging and labelling requirements to lower delivery failure rates and improve storage and delivery timetables, TR 105 strives to enhance the end user's experience.

Singapore Last Mile Delivery Industry Segmentation

The term "last mile delivery" describes the final stage of a logistics process. the route taken by a product from a warehouse to the final customer's door. The most crucial step of the delivery process is this final one, which needs to be carefully managed for quick shipping. The report provides a thorough background analysis of the last-mile delivery market in Singapore, including a rating of the economy and the contribution of its sectors, a market overview, market size projections for important market segments, emerging market segment trends, market dynamics, and geographic trends.

The Singaporean Last-Mile Delivery Market report is segmented by Service (B2B (Business-to-Business), B2C (Business-to-Consumer), C2C (Customer-to-Customer)), By Delivery Mode (Regular Delivery, Same-day Delivery, Express Delivery). The market sizing and forecasts have been done for each segment based on value (USD billion).