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    Freight Forwarding Market

    ID: MRFR/PNT/10059-CR
    111 Pages
    Snehal Singh
    December 2024

    Freight Forwarding Market Research Report Information by Delivery Mode (Roadways, Airways, Railways, Seaways), by Services (Transportation, Warehousing, Packaging, Documentation, Other Services), by Application (Retail, Food & Beverages, Healthcare, Industrial and Manufacturing, Military, Oil & Gas, Other Application), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) –Market Forecast Till 2032

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    Freight Forwarding Market Summary

    The Global Freight Forwarding Market is projected to grow from 189.2 USD Billion in 2024 to 337.1 USD Billion by 2035, reflecting a robust growth trajectory.

    Key Market Trends & Highlights

    Global Freight Forwarding Key Trends and Highlights

    • The market is expected to expand at a compound annual growth rate of 5.39 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 337.1 USD Billion, indicating substantial growth opportunities.
    • In 2024, the market is valued at 189.2 USD Billion, laying a strong foundation for future expansion.
    • Growing adoption of digital technologies due to increasing demand for efficiency is a major market driver.

    Market Size & Forecast

    2024 Market Size 189.2 (USD Million)
    2035 Market Size 337.1 (USD Million)
    CAGR (2025-2035) 5.39%

    Major Players

    DHL Supply Chain, Kuehne + Nagel International AG, DB SCHENKER, SINOTRANS Limited, DSV A/S, Expeditors International of Washington, Inc, Nippon Express Co., Ltd, United Parcel Service of America, Inc, Bolloré Logistics, CEVA Logistics, CMA CGM Group, C.H. Robinson Worldwide, Inc, Dachser Group SE & Co. KG, Dimerco, CJ Logistics Corp

    Freight Forwarding Market Trends

    • Surge in e-commerce growth, and opportunities due to the maximizing efficiency through diverse transportation networks augmenting Freight Forwarding Market.

    The e-commerce boom has undeniably catalyzed a significant surge in demand for efficient freight forwarding services globally. This surge is propelled by several key factors. Firstly, the increased volume of shipments, driven by the growing trend of consumers turning to online shopping, has placed unprecedented pressure on logistics providers to handle the escalating volume effectively. Additionally, the evolving expectations of consumers for faster delivery times have necessitated agile freight forwarding solutions, prompting businesses to explore various transportation options and optimize routes to meet expedited delivery windows.

    Moreover, the complexities inherent in cross-border trade, including challenges such as customs clearance and navigating diverse regulations, further underline the indispensability of freight forwarders who possess the expertise to navigate these intricate landscapes seamlessly. Furthermore, the demand for specialized services, ranging from last-mile delivery for time-sensitive products to specific handling requirements for delicate goods, underscores the pivotal role of freight forwarding companies in catering to the diverse and evolving needs of e-commerce businesses. The surge in e-commerce activities translates directly to an increased demand for freight forwarding services, presenting significant growth opportunities for companies operating in the sector.

    To effectively manage the rising volume and diverse requirements of e-commerce logistics, freight forwarders are increasingly focusing on technology and innovation. This includes leveraging data analytics platforms for real-time tracking, integrating with e-commerce platforms for seamless order fulfillment, and adopting automation tools to enhance efficiency.

    In today's interconnected global economy, the efficiency of transportation networks is paramount for businesses aiming to remain competitive and responsive to market demands. Diverse transportation networks, encompassing various modes such as road, rail, sea, and air, play a pivotal role in facilitating the movement of goods across different regions and continents. Within this intricate web of logistics, freight forwarding emerges as a crucial intermediary, orchestrating the seamless transfer of cargo between disparate modes of transport. This essay delves into the significance of diverse transportation networks in maximizing efficiency and explores the opportunities they create for the freight forwarding industry.

    Diverse transportation networks offer unparalleled flexibility and resilience, enabling businesses to optimize their supply chains and adapt to dynamic market conditions. Each mode of transport possesses distinct advantages and is suited to particular types of cargo, distances, and time constraints. Road transportation, for instance, provides last-mile connectivity and flexibility in reaching remote locations, while rail transport offers cost-effective and environmentally friendly solutions for long-distance haulage. Sea freight remains indispensable for bulk cargo and international trade, leveraging economies of scale and extensive maritime routes.

    Conversely, air freight stands out for its unparalleled speed and reliability, catering to time-sensitive shipments and urgent deliveries.

    The Global Freight Forwarding Market is poised for substantial growth, driven by increasing international trade and the rising demand for efficient logistics solutions.

    U.S. Department of Transportation

    Freight Forwarding Market Drivers

    E-commerce Growth

    The rapid expansion of e-commerce is a primary driver of the Global Global Freight Forwarding Market Industry. As online shopping continues to gain traction, logistics and freight forwarding services are increasingly required to facilitate the movement of goods. In 2024, the market is valued at 189.2 USD Billion, reflecting the heightened demand for efficient shipping solutions. Companies are investing in advanced logistics technologies to streamline operations and enhance customer satisfaction. The growth of e-commerce platforms necessitates reliable freight forwarding services, which are projected to contribute significantly to the market's expansion in the coming years.

    Global Trade Dynamics

    The evolving landscape of global trade significantly influences the Global Global Freight Forwarding Market Industry. Trade agreements and geopolitical developments can create new opportunities for freight forwarders. For example, the implementation of trade agreements may lead to increased import and export activities, thereby boosting demand for freight forwarding services. As countries seek to enhance their trade relationships, the market is projected to grow, with estimates suggesting a value of 337.1 USD Billion by 2035. This dynamic environment necessitates adaptability from freight forwarders to navigate changing regulations and capitalize on emerging markets.

    Regulatory Compliance

    Regulatory compliance remains a critical driver in the Global Global Freight Forwarding Market Industry. Freight forwarders must navigate a complex web of international regulations, customs requirements, and safety standards. Compliance with these regulations is essential to avoid penalties and ensure smooth operations. As governments continue to tighten regulations, the demand for expert freight forwarding services is likely to increase. Companies that can effectively manage compliance issues may gain a competitive advantage, thereby contributing to the overall growth of the market. This aspect underscores the importance of expertise in navigating regulatory landscapes.

    Market Growth Projections

    The Global Global Freight Forwarding Market Industry is poised for substantial growth, with projections indicating a market value of 337.1 USD Billion by 2035. This growth is underpinned by a compound annual growth rate of 5.39% from 2025 to 2035. The increasing demand for efficient logistics solutions, driven by factors such as e-commerce expansion and global trade dynamics, is likely to propel the market forward. As businesses seek to optimize their supply chains, the freight forwarding sector is expected to play a pivotal role in facilitating international trade and enhancing economic connectivity.

    Sustainability Initiatives

    Sustainability is becoming a focal point within the Global Global Freight Forwarding Market Industry. Companies are increasingly prioritizing eco-friendly practices to reduce their carbon footprint and meet regulatory requirements. The shift towards greener logistics solutions, such as electric vehicles and optimized shipping routes, is gaining momentum. This trend not only addresses environmental concerns but also appeals to consumers who prefer sustainable brands. As businesses adopt sustainable practices, they may enhance their competitive edge, thereby driving growth in the freight forwarding sector. The emphasis on sustainability is likely to shape the industry's future landscape.

    Technological Advancements

    Technological innovations are reshaping the Global Global Freight Forwarding Market Industry. The integration of automation, artificial intelligence, and data analytics is enhancing operational efficiency and reducing costs. For instance, the adoption of blockchain technology is improving transparency and security in supply chains. These advancements enable freight forwarders to optimize routes, manage inventory effectively, and provide real-time tracking to customers. As a result, the industry is likely to witness increased competitiveness and improved service offerings. The ongoing technological evolution is expected to play a crucial role in driving the market's growth trajectory through 2035.

    Market Segment Insights

    Global Freight Forwarding Delivery Mode Insights

    Based on Delivery Mode, global Freight Forwarding are segmented into Roadways, Airways, Railways, and Seaways. The Roadways dominated the global market in 2023, while Airways are projected to be the fastest–growing segment during the forecast period. The roadways segment growth is further propelled by the escalating demand for efficient and cost-effective transportation solutions, spurred by the surge in international trade and e-commerce activities. Moreover, technological advancements and the integration of digital solutions have notably enhanced operational efficiency and supply chain visibility in the road freight sector.

    Figure 1: Freight Forwarding Market, by Delivery Mode, 2023 & 2032 (USD Million)

    Global Freight Forwarding Services Insights

    Based on Services, global Freight Forwarding are segmented into Transportation, Warehousing, Packaging, Documentation, and Other Services. The Transportation segment dominated the global market in 2023 and projected to be the fastest–growing segment during the forecast period. This growth is propelled by factors such as increasing globalization, adoption of advanced technologies like IoT and AI, and the burgeoning e-commerce sector. Major players in this segment, including DHL, Kuehne + Nagel, and DB Schenker, leverage their extensive networks and technological prowess to meet the rising demand for efficient transportation solutions.

    Global Freight Forwarding Application Insights

    Based on Application, the global Freight Forwarding are segmented into Retail, Food & Beverages, Healthcare, Industrial and Manufacturing, Military, Oil & Gas, and Other Application. The Retail segment dominated the global market in 2023, while Healthcare are projected to be the fastest–growing segment during the forecast period. The Retail segment domination is primarily fueled by the proliferation of global retail chains and the surging demand for efficient logistics solutions driven by the rapid growth of e-commerce.

    The adoption of omni-channel retailing further accentuates the need for seamless supply chain management and emphasizes inventory optimization to meet the evolving expectations of customers. Furthermore, the expansion of healthcare is due to the surge in demand for pharmaceuticals and medical supplies, particularly in emerging markets, drives the need for efficient logistics support. Cold chain logistics, aimed at preserving temperature-sensitive healthcare products, further underscores the sector's growth trajectory, alongside regulatory compliance requirements necessitating specialized transportation and documentation services.

    Get more detailed insights about Freight Forwarding Market Research Report - Forecast to 2032

    Key Companies in the Freight Forwarding Market market include

    Industry Developments

      • In February 2024, C.H. Robinson developed new technology that creates a major efficiency in freight shipping: removing the work of scheduling an appointment at the place a load needs to be picked up and scheduling another appointment where the load needs to be delivered.
      • In February 2024, DHL Global Forwarding partnered with Schneider Electric to design and launch an industry-first multi-modal shipping model, using sustainable aviation fuels (SAFs) to help improve the agility and reduce the environmental impact of its supply chain.
      • In December 2023, Nippon Express Co., Ltd. which administers Nippon Express's East Asia Region, and Nippon Express Korea Co., Ltd., both group companies of NIPPON EXPRESS HOLDINGS, INC. (President: Mitsuru Saito), have launched a new international ocean freight service, "Busan Hub x Japanese Regional Ports," connecting the Port of Busan in South Korea and regional ports in Japan.

    Future Outlook

    Freight Forwarding Market Future Outlook

    The Global Freight Forwarding Market is projected to grow at a 5.39% CAGR from 2024 to 2035, driven by e-commerce expansion, technological advancements, and sustainability initiatives.

    New opportunities lie in:

    • Invest in AI-driven logistics solutions to enhance operational efficiency.
    • Expand services in emerging markets to capture new customer segments.
    • Develop green logistics strategies to meet increasing sustainability demands.

    By 2035, the market is expected to exhibit robust growth, reflecting evolving industry dynamics and consumer preferences.

    Market Segmentation

    Regional Outlook

    • North America
    • US
    • Canada
    • Mexico
    • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Russia
    • Rest of Europe
    • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia and New Zealand (Anz)
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Indonesia
    • Vietnam
    • Rest of Asia-Pacific
    • Middle East and Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East and Africa
    • South America
    • Argentina
    • Brazil
    • Rest of South America

    Global Freight Forwarding Regional Outlook

    • North America
    • US
    • Canada
    • Mexico
    • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Russia
    • Rest of Europe
    • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia and New Zealand (Anz)
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Indonesia
    • Vietnam
    • Rest of Asia-Pacific
    • Middle East and Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East and Africa
    • South America
    • Argentina
    • Brazil
    • Rest of South America

    Freight Forwarding Market by Services Outlook (USD Million, 2019-2032)

    • Transportation
    • Warehousing
    • Packaging
    • Documentation
    • Other Services

    Freight Forwarding Market by Application Outlook (USD Million, 2019-2032)

    • Retail
    • Food And Beverages
    • Healthcare
    • Industrial And Manufacturing
    • Military
    • Oil And Gas
    • Other Applications

    Freight Forwarding Market by Delivery Mode Outlook (USD Million, 2019-2032)

    • Roadways
    • Airways
    • Railways
    • Seaways

    Report Scope

    Report Attribute/Metric Details
    Market Size 2023 USD 178,348.2 Million
    Market Size 2024 USD 189,227.4 Million
    Market Size 2032 USD 287,495.6 Million
    Compound Annual Growth Rate (CAGR) 5.45% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Million)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Delivery Mode, Services, Application and Region
    Geographies Covered North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
    Countries Covered The U.S., Canada, Mexico, Germany, France, Italy, UK, Spain, China, Japan, India, UAE, South Africa, Saudi Arabia, Argentina, and Brazil.
    Key Companies Profiled DHL Supply Chain, Kuehne + Nagel International AG, DB SCHENKER, SINOTRANS Limited, DSV A/S, Expeditors International of Washington, Inc, Nippon Express Co., Ltd, United Parcel Service of America, Inc, Bolloré Logistics, CEVA Logistics, CMA CGM Group, C.H. Robinson Worldwide, Inc., Dachser Group SE & Co. KG, Dimerco, and CJ Logistics Corp
    Key Market Opportunities ·       Opportunities Due to maximizing efficiency through diverse transportation networks
    Key Market Dynamics ·       Surge in e-commerce growth is Driving the Demand for Freight Forwarding

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    How much is the Freight Forwarding Market?

    The Freight Forwarding Market size is expected to be valued at USD 287,495.6 Million in 2032.

    What is the growth rate of the Freight Forwarding Market?

    The global market is projected to grow at a CAGR of 5.45% during the forecast period, 2024-2032.

    Which region held the largest market share in the Freight Forwarding Market?

    North America had the largest share of the global market.

    Who are the key players in the Freight Forwarding Market?

    The key players in the market are DHL Supply Chain, Kuehne + Nagel International AG, DB SCHENKER, SINOTRANS Limited, DSV A/S, Expeditors International of Washington, Inc, Nippon Express Co., Ltd, United Parcel Service of America, Inc, Bolloré Logistics, CEVA Logistics, CMA CGM Group, C.H. Robinson Worldwide, Inc., Dachser Group SE & Co. KG, Dimerco, and CJ Logistics Corp and others.

    Which Services led the Freight Forwarding Market?

    The Transportation category dominated the market in 2023.

    Which application had the largest market share in the Freight Forwarding Market?

    The Retail segment had the largest revenue share of the global market.

    Freight Forwarding Market Research Report - Forecast to 2032 Infographic
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