Global Freight Forwarding Market Insights and Forecast to 2028

Freight Forwarding Market Statistics 2028

The global Freight Forwarding market size is about 186 billion USD in 2021 and is expected to grow at a CAGR of 3.3% in the forecast years till 2028. Key drivers of the freight forwarding market include the booming eCommerce industry.

The advent of technological innovations will drive the market trends during the forecast period. 

The rise in the number of activities handled by key vendors for smooth logistic operations will boost the growth of the freight forwarding market in the upcoming period. 

The growing trade agreements and increase in cross-border trade activities will boost the growth of the market in the subsequent years.

Trends Influencing the Growth of Freight Forwarding Market 

Increasing penetration of eCommerce

Online shopping has been around for a while but gained significant prominence during the outbreak of the pandemic. Consumers are demanding everything with the tap of a button. Retailers have to optimize their shipping speeds and at the same time provide low-cost delivery solutions. Big-ticket retailers are adopting automated freight forwarding solutions such as self-tracking methods and notifications for last-mile transporters and final consumers to easily monitor the shipment activity. Continuous interaction with customers is essential via chatbots, emails, and personalized messages. AI-powered helpdesk systems provide contextual information through machine learning algorithms to consumers. This aids in optimizing transportation costs and providing a hassle-free response regarding returned goods. In addition to it using TMS software, IoT sensors and electronic data logging systems help freight forwarders keep track of the best route, decrease idling time and provide the multitiered pricing for goods based on their total size and volume. Key performance metrics can be analyzed and measured quickly. All these factors will boost the growth of the freight forwarding market during the forecast period. 

Technological developments

A series of innovations have been taking place in the freight forwarding industry which is directly contributing to its expansion. Artificial intelligence and robotic process automation compile data, enter it into a TMS and trigger a set of activities that keep everyone updated about the container or shipment status. The advanced software instantly accesses the demand based on total transport activity and analyzes it efficiently to provide an immediate booking quote. Bots initiate relevant digital communication amongst several stakeholders involved in the entire process of supply chain operations. Confusion is decreased as appointments and arrival times are scheduled beforehand through predictive forecasts. Vital information can be shared via images, PDFs, and docs. It can be linked to payment processing systems to shorten the payment lock and decrease delayed shipment. These advancements will bolster the growth of the freight forwarding market in the upcoming years. 

Integrated activities

As logistics operations get complex retailers are relying on third-party vendors to oversee their entire supply chain activities. Freight forwarders are capable of providing a variety of services like warehousing, transportation, packing, documentation, labeling, insurance, etc. Different warehouses have different functions. Distribution centers allow products to accumulate at a centrally located place to make the final shipment process easier. Fulfillment centers receive, pick up, and transport orders for individual shoppers. Partially completed manufactured products are kept in warehouse centers for further use in assembly lines. Moreover, different products require specific packaging labels as they are shipped to different countries in containers under varying temperatures. They are labeled correctly with intrinsic details regarding their place of origin, total information of the product, and other hazardous items. Different documents are maintained such as the Bill of Lading, inspection certificate, commercial invoices and certificate of origin, etc. Such factors will drive the growth of the freight forwarding market during the forecast period.

Rising trade volume

Due to globalization, cross-border delivery of goods, and increasing trade agreements the need for freight forwarders is increasing. Connectivity is of utmost priority in this complex chain of people, firm, and organization interactions. The inefficient trade-related infrastructure can seriously impede a country’s growth and its performance on the global stage. In order to eradicate global poverty and bring in, sustainable development world leaders are stressing the importance of easy trade facilitation. Significant investments are being made in the areas of logistics, transport services, regional trade corridors, and multimodal transport system networks. Third-party freight forwarding companies are expected to gain huge significance in the coming years. Such factors will boost the growth of the freight forwarding market in the subsequent years. 

Freight Forwarding Market Share Analysis

Based on type, the packaging segment will grow the highest in the freight forwarding market share owing to the growing demand for safe and secure delivery of goods. On the other hand, VAS services will grow the fastest due to rising acceptance among shippers. 

Based on application, sea freight forwarding is expected to dominate the freight forwarding market share due to growing cross-border trade and the gradual development of port infrastructure. The demand from end-user industries is huge. 

Based on region, North America is expected to maintain dominance in the freight forwarding market share owing to the booming eCommerce industry. However, the Asia-Pacific region will grow the fastest due to rising logistics operations and the presence of emerging economies like China or India.

Freight Forwarding Market Segmentation

Freight Forwarding Market By Companies

• DSV
• Deutsche Post DHL Group
• Kuehne + Nagel
• DB Schenker
• Sinotrans
• Expeditors International
• NIPPON EXPRESS
• UPS Supply Chain Solutions
• Hellmann Worldwide Logistics
• Panalpina
• C.H. Robinson Worldwide
• CJ Korea Express
• DACHSER
• Dimerco
• GEODIS
• Bollore Logistics

Freight Forwarding Market By Types

• Packaging
• Documentation
• Transportation and warehousing
• VAS (Value-added services)

Freight Forwarding Market By Application

• Airfreight Forwarding
• Rail Freight Transportation
• Sea Freight Forwarding

List of Tables

Table 1. Global Freight Forwarding Market Size Growth Rate by Type (US$ Million), 2017 VS 2021 VS 2028

Table 2. Key Players of Packaging

Table 3. Key Players of Documentation

Table 4. Key Players of Transportation and warehousing

Table 5. Key Players of VAS (Value-added services)

Table 6. Global Freight Forwarding Market Size Growth Rate by Application (US$ Million), 2017 VS 2021 VS 2028

Table 7. Global Freight Forwarding Market Size by Region (US$ Million): 2017 VS 2021 VS 2028

Table 8. Global Freight Forwarding Market Size by Region (2017-2022) & (US$ Million)

Table 9. Global Freight Forwarding Market Share by Region (2017-2022)

Table 10. Global Freight Forwarding Forecasted Market Size by Region (2023-2028) & (US$ Million)

Table 11. Global Freight Forwarding Market Share by Region (2023-2028)

Table 12. Freight Forwarding Market Trends

Table 13. Freight Forwarding Market Drivers

Table 14. Freight Forwarding Market Challenges

Table 15. Freight Forwarding Market Restraints

Table 16. Global Freight Forwarding Revenue by Players (2017-2022) & (US$ Million)

Table 17. Global Freight Forwarding Revenue Share by Players (2017-2022)

Table 18. Global Top Freight Forwarding by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Freight Forwarding as of 2021)

Table 19. Ranking of Global Top Freight Forwarding Companies by Revenue (US$ Million) in 2021

Table 20. Global 5 Largest Players Market Share by Freight Forwarding Revenue (CR5 and HHI) & (2017-2022)

Table 21. Key Players Headquarters and Area Served

Table 22. Key Players Freight Forwarding Product Solution and Service

Table 23. Date of Enter into Freight Forwarding Market

Table 24. Mergers & Acquisitions, Expansion Plans

Table 25. Global Freight Forwarding Market Size by Type (2017-2022) & (US$ Million)

Table 26. Global Freight Forwarding Revenue Market Share by Type (2017-2022)

Table 27. Global Freight Forwarding Forecasted Market Size by Type (2023-2028) & (US$ Million)

Table 28. Global Freight Forwarding Revenue Market Share by Type (2023-2028)

Table 29. Global Freight Forwarding Market Size by Application (2017-2022) & (US$ Million)

Table 30. Global Freight Forwarding Revenue Share by Application (2017-2022)

Table 31. Global Freight Forwarding Forecasted Market Size by Application (2023-2028) & (US$ Million)

Table 32. Global Freight Forwarding Revenue Share by Application (2023-2028)

Table 33. North America Freight Forwarding Market Size by Type (2017-2022) & (US$ Million)

Table 34. North America Freight Forwarding Market Size by Type (2023-2028) & (US$ Million)

Table 35. North America Freight Forwarding Market Size by Application (2017-2022) & (US$ Million)

Table 36. North America Freight Forwarding Market Size by Application (2023-2028) & (US$ Million)

Table 37. North America Freight Forwarding Market Size by Country (2017-2022) & (US$ Million)

Table 38. North America Freight Forwarding Market Size by Country (2023-2028) & (US$ Million)

Table 39. Europe Freight Forwarding Market Size by Type (2017-2022) & (US$ Million)

Table 40. Europe Freight Forwarding Market Size by Type (2023-2028) & (US$ Million)

Table 41. Europe Freight Forwarding Market Size by Application (2017-2022) & (US$ Million)

Table 42. Europe Freight Forwarding Market Size by Application (2023-2028) & (US$ Million)

Table 43. Europe Freight Forwarding Market Size by Country (2017-2022) & (US$ Million)

Table 44. Europe Freight Forwarding Market Size by Country (2023-2028) & (US$ Million)

Table 45. Asia Pacific Freight Forwarding Market Size by Type (2017-2022) & (US$ Million)

Table 46. Asia Pacific Freight Forwarding Market Size by Type (2023-2028) & (US$ Million)

Table 47. Asia Pacific Freight Forwarding Market Size by Application (2017-2022) & (US$ Million)

Table 48. Asia Pacific Freight Forwarding Market Size by Application (2023-2028) & (US$ Million)

Table 49. Asia Pacific Freight Forwarding Market Size by Region (2017-2022) & (US$ Million)

Table 50. Asia Pacific Freight Forwarding Market Size by Region (2023-2028) & (US$ Million)

Table 51. Latin America Freight Forwarding Market Size by Type (2017-2022) & (US$ Million)

Table 52. Latin America Freight Forwarding Market Size by Type (2023-2028) & (US$ Million)

Table 53. Latin America Freight Forwarding Market Size by Application (2017-2022) & (US$ Million)

Table 54. Latin America Freight Forwarding Market Size by Application (2023-2028) & (US$ Million)

Table 55. Latin America Freight Forwarding Market Size by Country (2017-2022) & (US$ Million)

Table 56. Latin America Freight Forwarding Market Size by Country (2023-2028) & (US$ Million)

Table 57. Middle East and Africa Freight Forwarding Market Size by Type (2017-2022) & (US$ Million)

Table 58. Middle East and Africa Freight Forwarding Market Size by Type (2023-2028) & (US$ Million)

Table 59. Middle East and Africa Freight Forwarding Market Size by Application (2017-2022) & (US$ Million)

Table 60. Middle East and Africa Freight Forwarding Market Size by Application (2023-2028) & (US$ Million)

Table 61. Middle East and Africa Freight Forwarding Market Size by Country (2017-2022) & (US$ Million)

Table 62. Middle East and Africa Freight Forwarding Market Size by Country (2023-2028) & (US$ Million)

Table 63. DSV Company Details

Table 64. DSV Business Overview

Table 65. DSV Freight Forwarding Product

Table 66. DSV Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 67. DSV Recent Developments

Table 68. Deutsche Post DHL Group Company Details

Table 69. Deutsche Post DHL Group Business Overview

Table 70. Deutsche Post DHL Group Freight Forwarding Product

Table 71. Deutsche Post DHL Group Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 72. Deutsche Post DHL Group Recent Developments

Table 73. Kuehne + Nagel Company Details

Table 74. Kuehne + Nagel Business Overview

Table 75. Kuehne + Nagel Freight Forwarding Product

Table 76. Kuehne + Nagel Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 77. Kuehne + Nagel Recent Developments

Table 78. DB Schenker Company Details

Table 79. DB Schenker Business Overview

Table 80. DB Schenker Freight Forwarding Product

Table 81. DB Schenker Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 82. DB Schenker Recent Developments

Table 83. Sinotrans Company Details

Table 84. Sinotrans Business Overview

Table 85. Sinotrans Freight Forwarding Product

Table 86. Sinotrans Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 87. Sinotrans Recent Developments

Table 88. Expeditors International Company Details

Table 89. Expeditors International Business Overview

Table 90. Expeditors International Freight Forwarding Product

Table 91. Expeditors International Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 92. Expeditors International Recent Developments

Table 93. NIPPON EXPRESS Company Details

Table 94. NIPPON EXPRESS Business Overview

Table 95. NIPPON EXPRESS Freight Forwarding Product

Table 96. NIPPON EXPRESS Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 97. NIPPON EXPRESS Recent Developments

Table 98. UPS Supply Chain Solutions Company Details

Table 99. UPS Supply Chain Solutions Business Overview

Table 100. UPS Supply Chain Solutions Freight Forwarding Product

Table 101. UPS Supply Chain Solutions Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 102. UPS Supply Chain Solutions Recent Developments

Table 103. Hellmann Worldwide Logistics Company Details

Table 104. Hellmann Worldwide Logistics Business Overview

Table 105. Hellmann Worldwide Logistics Freight Forwarding Product

Table 106. Hellmann Worldwide Logistics Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 107. Hellmann Worldwide Logistics Recent Developments

Table 108. Panalpina Company Details

Table 109. Panalpina Business Overview

Table 110. Panalpina Freight Forwarding Product

Table 111. Panalpina Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 112. Panalpina Recent Developments

Table 113. C.H. Robinson Worldwide Company Details

Table 114. C.H. Robinson Worldwide Business Overview

Table 115. C.H. Robinson Worldwide Freight Forwarding Product

Table 116. C.H. Robinson Worldwide Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 117. C.H. Robinson Worldwide Recent Developments

Table 118. CJ Korea Express Company Details

Table 119. CJ Korea Express Business Overview

Table 120. CJ Korea Express Freight Forwarding Product

Table 121. CJ Korea Express Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 122. CJ Korea Express Recent Developments

Table 123. DACHSER Company Details

Table 124. DACHSER Business Overview

Table 125. DACHSER Freight Forwarding Product

Table 126. DACHSER Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 127. DACHSER Recent Developments

Table 128. Dimerco Company Details

Table 129. Dimerco Business Overview

Table 130. Dimerco Freight Forwarding Product

Table 131. Dimerco Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 132. Dimerco Recent Developments

Table 133. GEODIS Company Details

Table 134. GEODIS Business Overview

Table 135. GEODIS Freight Forwarding Product

Table 136. GEODIS Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 137. GEODIS Recent Developments

Table 138. Bollore Logistics Company Details

Table 139. Bollore Logistics Business Overview

Table 140. Bollore Logistics Freight Forwarding Product

Table 141. Bollore Logistics Revenue in Freight Forwarding Business (2017-2022) & (US$ Million)

Table 142. Bollore Logistics Recent Developments

Table 143. Research Programs/Design for This Report

Table 144. Key Data Information from Secondary Sources

Table 145. Key Data Information from Primary Sources

 

List of Figures

Figure 1. Global Freight Forwarding Market Share by Type: 2021 VS 2028

Figure 2. Packaging Features

Figure 3. Documentation Features

Figure 4. Transportation and warehousing Features

Figure 5. VAS (Value-added services) Features

Figure 6. Global Freight Forwarding Market Share by Application: 2021 VS 2028

Figure 7. Airfreight Forwarding Case Studies

Figure 8. Rail Freight Transportation Case Studies

Figure 9. Sea Freight Forwarding Case Studies

Figure 10. Freight Forwarding Report Years Considered

Figure 11. Global Freight Forwarding Market Size (US$ Million), Year-over-Year: 2017-2028

Figure 12. Global Freight Forwarding Market Size, (US$ Million), 2017 VS 2021 VS 2028

Figure 13. Global Freight Forwarding Market Share by Region: 2021 VS 2028

Figure 14. Global Freight Forwarding Market Share by Players in 2021

Figure 15. Global Top Freight Forwarding Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Freight Forwarding as of 2021)

Figure 16. The Top 10 and 5 Players Market Share by Freight Forwarding Revenue in 2021

Figure 17. North America Freight Forwarding Market Size YoY (2017-2028) & (US$ Million)

Figure 18. North America Freight Forwarding Market Size Market Share by Type (2017-2028)

Figure 19. North America Freight Forwarding Market Size Market Share by Application (2017-2028)

Figure 20. North America Freight Forwarding Market Size Share by Country (2017-2028)

Figure 21. United States Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 22. Canada Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 23. Europe Freight Forwarding Market Size YoY (2017-2028) & (US$ Million)

Figure 24. Europe Freight Forwarding Market Size Market Share by Type (2017-2028)

Figure 25. Europe Freight Forwarding Market Size Market Share by Application (2017-2028)

Figure 26. Europe Freight Forwarding Market Size Share by Country (2017-2028)

Figure 27. Germany Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 28. France Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 29. U.K. Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 30. Italy Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 31. Russia Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 32. Nordic Countries Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 33. Asia-Pacific Freight Forwarding Market Size YoY (2017-2028) & (US$ Million)

Figure 34. Asia Pacific Freight Forwarding Market Size Market Share by Type (2017-2028)

Figure 35. Asia Pacific Freight Forwarding Market Size Market Share by Application (2017-2028)

Figure 36. Asia Pacific Freight Forwarding Market Size Share by Region (2017-2028)

Figure 37. China Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 38. Japan Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 39. South Korea Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 40. Southeast Asia Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 41. India Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 42. Australia Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

List of Figures

Figure 43. Latin America Freight Forwarding Market Size YoY (2017-2028) & (US$ Million)

Figure 44. Latin America Freight Forwarding Market Size Market Share by Type (2017-2028)

Figure 45. Latin America Freight Forwarding Market Size Market Share by Application (2017-2028)

Figure 46. Latin America Freight Forwarding Market Size Share by Country (2017-2028)

Figure 47. Mexico Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 48. Brazil Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 49. Middle East & Africa Freight Forwarding Market Size YoY (2017-2028) & (US$ Million)

Figure 50. Middle East and Africa Freight Forwarding Market Size Market Share by Type (2017-2028)

Figure 51. Middle East and Africa Freight Forwarding Market Size Market Share by Application (2017-2028)

Figure 52. Middle East and Africa Freight Forwarding Market Size Share by Country (2017-2028)

Figure 53. Turkey Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 54. Saudi Arabia Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 55. UAE Freight Forwarding Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 56. DSV Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 57. Deutsche Post DHL Group Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 58. Kuehne + Nagel Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 59. DB Schenker Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 60. Sinotrans Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 61. Expeditors International Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 62. NIPPON EXPRESS Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 63. UPS Supply Chain Solutions Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 64. Hellmann Worldwide Logistics Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 65. Panalpina Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 66. C.H. Robinson Worldwide Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 67. CJ Korea Express Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 68. DACHSER Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 69. Dimerco Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 70. GEODIS Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 71. Bollore Logistics Revenue Growth Rate in Freight Forwarding Business (2017-2022)

Figure 72. Bottom-up and Top-down Approaches for This Report

Figure 73. Data Triangulation

Figure 74. Key Executives Interviewed