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Freight Forwarding Market - Industry Insights, Key Trends, Growth and Forecast to 2030 (LINKEDIN)

“The demand for freight forwarding has been growing owing to the growing cross-border trade activities and a booming e-commerce sector. Moreover, the increasing demand for a well-organized supply chain and logistics to ensure a seamless end-to-end movement of goods, is expected to drive the market's growth.

However, the congestion in the trade channel of the freight forwarding is expected to hamper the market's growth over the forecast period. For example, as the number of trains per mile on the track increases, the average speed decreases, and the quantity of cargo in the freight yards rises, the travel time will be further shortened while the likelihood of routing mistakes and damage to shipments increases.

The growth of the freight forwarding market is challenged by the expansion of nearshoring manufacturing operations globally, which is anticipated to lead to a lack of acceptability of trade activities.”

Global Freight Market Insights

“According to International Chamber of Delivering, the global delivery industry is responsible for 90% of world trade. And approximately 40% of total containerised trade lies on the main East-West routes—those between Asia, Europe and the United States. These numbers showcase the pivotal role logistics plays within today’s global economy.”

Freight Forwarding Market to Reach USD 284.4 Billion By 2030; Growing Cross-Border Trade Activities & Booming E-commerce Sector to Bolster Growth, says The Brainy Insights

“The freight forwarding market has been growing due to growing urbanization and the increasing penetration of smartphones in emerging region. Economic development and increased online shopping also contribute to the freight forwarding market growth. North America emerged as the largest market for the global freight forwarding market, with a 37% share of the market revenue in 2021.”

“Market growth and trends:

The demand for freight forwarding has been growing owing to the growing cross-border trade activities and a booming e-commerce sector. Moreover, the increasing demand for a well-organized supply chain and logistics to ensure a seamless end-to-end movement of goods, is expected to drive the market's growth. However, the congestion in the trade channel of the freight forwarding is expected to hamper the market's growth over the forecast period.

For example, as the number of trains per mile on the track increases, the average speed decreases, and the quantity of cargo in the freight yards rises, the travel time will be further shortened while the likelihood of routing mistakes and damage to shipments increases. The growth of the freight forwarding market is challenged by the expansion of nearshoring manufacturing operations globally, which is anticipated to lead to a lack of acceptability of trade activities.”

Freight Forwarding Market (Extrapolate)

KEY MARKET INSIGHTS

“The Freight Forwarding Market was valued at US$ 180.4 Bn in 2021 and is projected to reach US$ 251.1 Bn by 2030, at a CAGR of 5.1%. Freight forwarding is a business that handles shipments for individuals and businesses to transport items from a producer to a client or final point of distribution. Freight forwarders specialize in cutting shipping costs and streamlining logistics.

A freight forwarder, in other words, oversees transporting products from one location to another. These businesses specialize in coordinating the complete process for shippers. Freight forwarders enables them to provide a safe and cost-effective cargo transportation network.

Commercial invoicing, warehousing, packaging, documentation, declaration of shipper’s export, and distribution at the end destination are some of the services they provide as supply chain professionals.”

Global Freight Forwarding Market Insights and Forecast to 2028 (MEDIUM)

Key factors driving the growth of the global freight forwarding market include:

  1. International Trade: The increasing globalization of trade has led to a rise in demand for freight forwarding services. As companies expand their operations globally, they rely on freight forwarders to handle the complex logistics involved in shipping goods across borders.

  2. E-commerce Boom: The rapid growth of e-commerce has significantly contributed to the freight forwarding market. With more consumers purchasing products online, there is a higher demand for efficient shipping and delivery services, which freight forwarders provide.

  3. Supply Chain Optimization: Companies are increasingly focused on streamlining their supply chains to reduce costs and improve efficiency. Freight forwarders play a crucial role in optimizing supply chains by offering end-to-end logistics solutions, including transportation, customs clearance, warehousing, and distribution.

  4. Technological Advancements: The freight forwarding industry is embracing technology to enhance operational efficiency. Automation, digitization, and the use of advanced analytics tools are enabling freight forwarders to track shipments in real-time, improve transparency, and provide better customer service.

  5. Infrastructure Development: Investments in transportation infrastructure, such as ports, airports, and road networks, by both developed and emerging economies, are facilitating the growth of the freight forwarding market. Improved infrastructure enables faster and more reliable transportation of goods.

  6. Regulatory Changes: Changes in trade policies and customs regulations impact the freight forwarding industry. Freight forwarders must stay updated with the evolving regulatory landscape to ensure compliance and efficient cross-border operations.