Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) — The “International Freight Forwarding Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
This International Freight Forwarding market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The international freight forwarding market size has grown strongly in recent years. It will grow from $104.99 billion in 2023 to $110.95 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth during the historic period can be attributed to several factors, including the surge in online shopping, economic development in emerging markets, increasing complexity of supply chains, investments in transportation infrastructure, and stricter trade regulations.
The international freight forwarding market size is expected to see strong growth in the next few years. It will grow to $139.18 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth during the forecast period can be attributed to several factors, including increasing consumer expectations for quick and reliable deliveries, the need for resilient and adaptable logistics solutions, growing urban populations, partnerships between logistics providers and technology companies, supportive government policies, and economic incentives in various countries.
Key trends expected to shape the future include the integration of AI, IoT, and blockchain in logistics, innovations such as digital platforms, a rising demand for automation, the adoption of eco-friendly practices and alternatives, and the implementation of advanced scanning and screening technologies.
The expansion of the e-commerce sector is anticipated to drive the growth of the international freight forwarding market. E-commerce involves the buying and selling of products and services online, allowing transactions to occur electronically without physical interaction. The industry’s growth is fueled by its convenience, increased mobile commerce, enhanced logistics and delivery services, and greater internet access.
International freight forwarding plays a crucial role in supporting e-commerce by handling global shipping logistics, customs clearance, cost management, tracking, and regulatory compliance to ensure efficient and timely cross-border delivery of goods. For example, the International Trade Administration reported in November 2023 that as of January 2021, consumer e-commerce accounted for 36.3% of the total retail market in the UK, with revenue projected to reach $285.6 billion by 2025. Additionally, e-commerce revenues in the UK are expected to grow at an average annual rate of 12.6% by 2025. Consequently, the rise of e-commerce is propelling the growth of the international freight forwarding market.
Key players in the international freight forwarding market are focusing on developing advanced digital workflows and analytics solutions, such as enterprise resource planning (ERP) products, to improve operational efficiency and optimize logistics processes. ERP products are integrated software systems that centralize data, offering real-time insights into operations and enhancing coordination, efficiency, and decision-making. For instance, in June 2022, DP World, a UAE-based logistics company, introduced CARGOES Runner.
This innovative system aims to streamline the entire freight forwarding business, boosting efficiency and profitability per shipment. It features a user-friendly dashboard that simplifies the quotation process with quick access to and management of bids. Key benefits include digital invoicing, which reduces paperwork and increases transaction efficiency, and a digital-first approach that addresses the limitations of outdated legacy systems, significantly improving customer experience and operational performance.
Asia-Pacific was the largest region in the international freight forwarding market in 2023. The regions covered in the international freight forwarding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the international freight forwarding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The major companies profiled in this International Freight Forwarding market report include:
- DHL Group
- United Parcel Service of America Inc.
- FedEx Corporation
- Kuhne + Nagel International AG
- DSV Panalpina A/S
- Schenker Deutschland AG
- Nippon Express Co. Ltd.
- GEODIS SA
- DACHSER Group SE & Co. KG
- CJ Logistics Corporation
- Hellmann Worldwide Logistics SE & Co. KG
- Kintetsu World Express Inc.
- Yusen Logistics Co. Ltd.
- Sankyu Inc.
- Agility Public Warehousing Company
- Bollore Logistics Netherlands B.V
- Dimerco Express India Private Limited
- Uber Freight LLC
- CEVA Logistics India Private Limited
- Sinotrans India Private Limited
- Panalpina Welttransport Holding AG
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $110.95 Billion |
| Forecasted Market Value (USD) by 2028 | $139.18 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. International Freight Forwarding Market Characteristics
3. International Freight Forwarding Market Trends and Strategies
4. International Freight Forwarding Market – Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global International Freight Forwarding Market Size and Growth
5.1. Global International Freight Forwarding Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global International Freight Forwarding Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global International Freight Forwarding Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. International Freight Forwarding Market Segmentation
6.1. Global International Freight Forwarding Market, Segmentation by Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Freight Transportation
- Warehousing and Distribution
- Customs Brokerage
- Freight Consolidation
- Value-Added Services
6.2. Global International Freight Forwarding Market, Segmentation by Mode of Transportation, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.3. Global International Freight Forwarding Market, Segmentation by Customer, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Business-to-Business (B2B)
- Business-to-Consumer (B2C)
6.4. Global International Freight Forwarding Market, Segmentation by End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Manufacturing
- E-Commerce and Retail
- Automotive
- Healthcare and Pharmaceuticals
- Oil and Gas
- Food and Beverage
- Consumer Goods
- Other End-Users
7. International Freight Forwarding Market Regional and Country Analysis
7.1. Global International Freight Forwarding Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global International Freight Forwarding Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/jng57p
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- International Freight Forwarding Market
