Thailand's express parcel delivery market is expected to maintain steady growth, fuelled by the e-commerce market, while some operators are planning to capitalise on advanced technology such as artificial intelligence (AI) to bolster their competitive edge.
According to ShipHub, a unified logistics platform service, Thailand's express parcel delivery market continues to experience steady growth, fuelled by the rapid expansion of e-commerce, which has become a cornerstone of the digital economy.
In 2024, the market value was expected to rise 17-18%, with an average daily parcel volume of 7-8 million items.
The total market valuation could have climbed to 115 billion baht last year, ShipHub noted.
Thailand Post remains the dominant market leader, followed by Flash Express, J&T Express, and Kerry Express (KEX), according to ShipHub.
Competition is particularly intense in pricing, with current service rates starting at 25-30 baht per item.
The rise of shopping platforms like TikTok and the Shoppertainment model has significantly boosted demand for parcel delivery services.
Flash Express, in particular, has benefited greatly from the influx of new customers stemming from these trends, says ShipHub.
Another research firm, Mordor Intelligence, said the Thai courier, express and parcel market size is estimated to be worth US$2.86 billion in 2025, and is expected to reach $4.04 billion by 2030, growing at a compound annual growth rate of 7.16% during the forecast period (2025 to 2030).
The growth is being driven by technological advancements integrated into logistics processes, including real-time performance tracking and smart systems for parcel storage, sorting and distribution.
Another strategy is operators' formation of partnerships with organisations that offer complementary strengths to broaden consumer reach and reinforce their business networks.
Many delivery companies posted profits last year. According to data business performance analytics service platform Creden.co, in 2024 the revenue of Global JET Express (Thailand), operator of J&T Express, rose 37% to 25.4 billion baht.
Its profit was 819 million baht, up 111% year-on-year, compared to a loss of 7 billion baht in 2023.
Flash Express returned to profitability in 2025 after two years of losses.
In 2024, its revenue reached 24.7 billion baht, an increase of 23%, while its profit reached 940 million baht, up 268% from a 2023 loss of 559 million baht.
In 2022 it posted a loss of 2.1 billion baht.
According to Flash Express, customers have greater confidence in the company due to its continued investment in technology and its infrastructure system to serve their needs.
In 2024, KEX Express posted a loss of 9.4 billion baht.
In a filing to the Stock Exchange of Thailand on April 30, the KEX board proposed a general shareholders' meeting on June 20 to approve the company's voluntary delisting.
SPX Express (Thailand) posted revenue in 2024 of 23.4 billion baht, up 41%, while its profit stood at 469 million baht, up 1,247%.
In 2024, Lazada Express, a unit of Lazada, posted a revenue decline of 14% to 14 billion baht, but it posted a profit of 1.7 billion baht, which was 40% lower year-on-year.
Thailand Post has yet to report its full-year 2024 business performance, having only disclosed its nine-month revenue period, which stood at 15.8 billion.
In 2023, Best Express (Thailand) recorded revenue of 2.2 billion baht, a decline of 24.7%, and a fall in profit of 7% to 275,350 baht.
In 2023, DHL E-commerce Solutions (Thailand) posted revenue of 1.57 billion baht, up 18%, and a loss of 288 million baht, an improvement of 16% from a year earlier.
Thailand Post president Dhanant Subhadrabandhu said earlier that the market fee for its express parcel delivery service had been around 60 baht per piece on average over the past seven years before dropping to 20 baht at present, resulting in a declining profit margin for the company's logistics business, its major revenue earner.
TECH DRIVEN GROWTH
Lily Chen, chief marketing officer at J&T Express Thailand, said the company plans to utilise DeepSeek's AI model to increase its operating efficiency, while expanding its retail partner network to broaden its customer reach.
Last-mile delivery services in Thailand will continue to see intense competition, but price wars should cease, she added.
KEX Express's (Thailand) new chief executive Jiawei Zhang recently said KEX is focusing on advanced technology and strategic business partnerships to fuel its growth.
Kiattichai Pitpreecha, managing director of DHL eCommerce Southeast Asia, said express delivery is expected to face less competition in price wars this year, as some players have incurred losses and a few may exit the industry or scale down their services.
"DHL's service will prioritise quality over price," he added.
Last year, SCG Express closed its business-to-consumer service due to accumulated losses from 2016-2023 of 750 million baht, with revenue of 3.6 billion baht.