Demand for Freight Forwarding is expected to surge at a CAGR of 4.0% during forecast period 2021-2031 | CEVA Logistics, Deutsche Post DHL Group, Dimerco Express Corporation, DSV A/S

The global Freight Forwarding Market was valued at US$ 192.5 billion in 2021 and it is anticipated to grow up to US$ 285.2 billion by 2031, at a CAGR of 4.0% during the forecast period.

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Freight forwarding is organizing, coordinating, and shipping goods from one place to another across international borders through a single or multiple carriers. The shipment of the goods occurs through land, air, or sea. The company responsible for organizing the shipment is known as a freight forwarder.

Freight forwarders manage the benefits and risks of shipping nationally and internationally by performing the required tasks, including container tracking, freight rate negotiations, freight consolidation, and customs documentation. Moreover, freight forwarding comprises numerous stages such as export customs clearance, export haulage, import customs clearance, origin handling, destination handling, and import haulage.

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Market Drivers and Trends

A surge in international trade volumes is one of the primary drivers of the growth of the freight forwarding market. An increasing number of trade agreements, especially among emerging economies, is a key factor driving the growth of international trade. Additionally, a booming e-commerce market has helped augment trade activities, resulting in increased freight forwarding market growth.

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Further, integrated services offered by freight forwarders are another key factor responsible for the growth of the freight forwarding market. Besides transporting cargo, freight forwarders also provide other integrated services such as packaging, insurance, and documentation. Thus, the availability of a wide range of services has also resulted in propelling the growth of the freight forwarding market.

Global Freight Forwarding Market Segmentation

By Service

Transportation and Warehousing
Packaging and Documentation
Value-added Services

By Mode of Transport

Land Freight Forwarding
Sea Freight Forwarding
Air Freight Forwarding

By Customer Type

B2B
B2C

By End-use Industry

Retail and E-Commerce
Manufacturing
Healthcare
Automotive
Others

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Major Players in the Global Freight Forwarding Market

The key players studied in the global freight forwarding market are CEVA Logistics (The Netherlands), Deutsche Post DHL Group (Germany), Dimerco Express Corporation (Taiwan), DSV A/S (Denmark), FedEx Corporation (US), Kuehne + Nagel Management AG (Switzerland), MGF (Canada), Nippon Express Co., Ltd. (Japan), Schenker AG (Germany), and United Parcel Service of America, Inc. (US).

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