IMARC Group has recently released a new research study titled “Sea Freight Forwarding Market by Type (Full Container Load (FCL), Less-than Container Load (LCL), and Others), Services (Packaging and Labeling, Documentation and PO Management, Charter Services, Transportation and Warehousing, and Others), Vertical (Retail and FMCG, Manufacturing, Consumer Appliances, Healthcare, Textile, and Others), and Region 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the sea freight forwarding market?
The global sea freight forwarding market size reached US$ 78.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 95.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.
Sea freight forwarding is a pivotal component of logistics, serving as the backbone of international trade. It encompasses the arrangement and management of cargo shipments via sea routes, from one port to another. Characterized by its cost-effectiveness and ability to transport massive quantities of goods, sea freight forwarding is a preferred choice for shipping heavy and bulky items, raw materials, and manufactured goods. Key features of sea freight forwarding include reliability, cost efficiency, and versatility. Sea vessels come in various sizes, accommodating diverse cargo types, from containers to breakbulk shipments. This flexibility enables businesses to tailor their shipping solutions to their specific needs. Additionally, sea freight offers a sustainable mode of transportation, reducing the carbon footprint associated with long-distance hauling.
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Sea Freight Forwarding Market Growth Factors and Trends:
The extensive demand for efficient, cost-effective logistics and international trade is a primary factor propelling the growth of the sea freight forwarding market. Moreover, the expansion of e-commerce platforms and the surge in global trade activities are acting as significant catalysts for market growth. In addition to this, the rising focus on reducing carbon emissions has emphasized the significance of sea freight, which is considered a greener alternative to air and road transport, thereby fueling the market growth.
Besides this, the growing awareness of the need for resilient supply chains, especially disruptions like pandemics and trade wars, are catalyzing the demand for the market. Along with this, shipping companies and multinational corporations are investing in reliable and efficient sea freight forwarding services to enhance supply chain effectiveness and economic efficiency. These stakeholders are increasingly turning to innovative technologies such as blockchain, real-time tracking, and automation to improve transparency, reduce costs, and expedite shipments, thereby boosting the market growth.
Furthermore, government initiatives aimed at modernizing ports, facilitating trade, and enhancing customs procedures are creating a favorable environment for the growth of the sea freight forwarding market across the globe.
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Who are the key players operating in the industry?
The report covers the major market players including:
Sea Freight Forwarding Top Companies:
- Agility Logistics
- Bolloré Logistcs
- H. Robinson Worldwide Inc.
- CEVA Logistics
- Deutsche Bahn AG
- Deutsche Post AG
- Expeditors International
- Geodis
- Hellmann Worldwide Logistics SE & Co. KG
- Kerry Logistics Network Limited
- Kuehne + Nagel, Sinotrans Limited
- United Parcel Service Inc.
- Yusen Logistics Co. Ltd.
Market Segmentation:
The report has segmented the global sea freight forwarding market on the basis of type, services, vertical and region.
Breakup by Type Insights:
- Full Container Load (FCL)
- Less-than Container Load (LCL)
- Others
Breakup by Services Insights:
- Packaging and Labeling
- Documentation and PO Management
- Charter Services
- Transportation and Warehousing
- Others
Vertical Insights:
- Retail and FMCG
- Manufacturing
- Consumer Appliances
- Healthcare
- Textile
- Others
Regional Analysis:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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