Freight forwarding market is anticipated to grow at a considerable CAGR of 4.5% during the forecast period. Growth in cross-border and sea trade volume is driving the growth of the freight forwarding market. The growing e-commerce trade across the globe has promoted the freight forwarding market. According to the Brand Equity Foundation (BEF), the overall e-commerce market is expected to reach $350 billion by 2030 and will experience 21.5% growth in 2022 and reach $74.8 billion.
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Apart from this, the increased demand for freight forwarding services to bring efficiency in time management is further driving the growth of the global freight forwarding market. According to the Container Xchange Report, Container xChange survey of 1,000+ logistics professionals reveals that 92.0% spend 3-4 hours to source one new partner and 53.0% spend 3-4 hours discussing T&Cs with new partners; 93% spend 2-4 hours contacting depots for release + drop off references. Freight forwarders using online marketplaces spend only 5-10 minutes sourcing partners, saving 170 minutes per new partner compared to non-digital counterparts. The rise in incidences of nearshoring manufacturing actions across the globe, which is to conclude in the absence of acceptance of trade activities, is anticipated to restrain the market growth.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Freight Forwarding Market Report Segment
By Product Type
- Business-to-Business (B2B)
- Business-to-Customer (B2C)
By Mode of Transport
- Road
- Railway
- Air
- Ocean
By Application
- Industrial And Manufacturing
- Retail
- Healthcare
- Oil And Gas
- Food And Beverages
- Other Application
Global Freight Forwarding Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global freight forwarding market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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