As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Third Party Logistics Services market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Third Party Logistics Services in the coming 10 years.
The report conducts an in-depth analysis into factors causing the change in consumer behavior and purchasing patterns. It also provides refined sales projections to assist market players in identifying remunerative segments. In 2022, the market for third-party logistics services is expected to be worth USD 1036.08 billion. It is anticipated to see a CAGR of 8.6% between 2022 and 2032. It is anticipated to attain a valuation of USD 1128.44 Bn as a result of the expanding supply chain and logistics network.
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The advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Third Party Logistics Services
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Third Party Logistics Services market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Third Party Logistics Services Market Takeaways and Projections
- The U.S. is expected to lead the North America Third Party Logistics Services market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Third Party Logistics Services Historical Market Analysis: The detailed survey by FMI, examines key factors in the Third Party Logistics Services market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Third Party Logistics Services market for the forecast period 2022-2032.
- Third Party Logistics Services Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Third Party Logistics Services for the assessment period. As per the study, the demand for Third Party Logistics Services will grow at a robust CAGR between 2022 and 2032.
- Third Party Logistics Services Market Trend Analysis: The latest study by FMI on the Third Party Logistics Services market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Third Party Logistics Services market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Global Third-Party Logistics Services: Market Segmentation
The third-party logistics service market is segmented on the basis of service type, asset ownership, contract and end-use industry.
On the basis of service type, the global third party logistics service market is segmented into:
- Warehousing
- Transportation
- Packaging
- Procurement
- Distribution
- Inventory Management
- Others
Based on the asset ownership, global third party logistics service market is segmented into:
- Asset Based 3PL
- Non-Asset Based 3PL
Based on the asset contract type, the global third party logistics service market is segmented into:
- Public
- Private
Based on the end-use industry, global third party logistics service market is segmented into:
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Automotive & Aerospace
- Electronics Goods
- Others
About Future Market Insights, Inc
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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