The Global Freight Packing Services Market is estimated to be USD 32.47 Bn in 2023 and is expected to reach USD 41.07 Bn by 2028 growing at a CAGR of 4.81%.The market's growth is linked to the affordable shipping costs set by suppliers of freight transport services
The Global Freight Packing Services Market is expected to witness significant growth in the coming years, owing to various factors influencing the demand and supply of these services. Freight packing services are the activities involved in preparing goods for transportation by air, sea, or land. These services include packaging design, material selection, labeling, sealing, loading, and unloading of goods. Freight packing services ensure goods' safety, quality, and efficiency during transit.
Some of the key drivers that are propelling the growth of the Global Freight Packing Services Market are the growth in international trade volumes and e-commerce demand, the development of infrastructure and technology in the packaging industry, the increasing need for food safety and hygiene amid the COVID-19 pandemic, and the rising consumer preferences for convenience and sustainability. However, to leverage these opportunities, Global Freight Packing Services Market players also need to overcome some hurdles, such as the competition from other players in the supply chain and technology-based companies, the volatility of demand and supply due to the COVID-19 pandemic and other factors, the lack of standardization and harmonization of packaging regulations across different countries, and the shortage of skilled labor and expertise in the packaging industry.
However, the market also faces some challenges that may hamper its growth potential, such as the high cost of fuel and transportation, the lack of domestic warehousing and inadequate infrastructure in some regions, the stringent regulations imposed by governments on air cargo movement and related activities, and the environmental concerns and social awareness regarding packaging waste.
Despite these challenges, the Global Freight Packing Services Market also offers some lucrative opportunities for Global Freight Packing Services Market players to capitalize on, such as the emergence of multimodal transportation and digital platforms, the development of new packaging materials and solutions such as biodegradable, recyclable, and reusable, the expansion of new markets and trade routes in emerging economies, and the increasing adoption of automation, artificial intelligence, and robotics in the packaging industry.
Market Segmentations
- The Global Freight Packing Services Market (2023-2028) by Service, Mode Of Transport, Logistics Model, Customer Type, End-Use Industry, and Geography.
- By Service, the Global Freight Packing Services Market is classified into Inventory Management, Packaging, Warehousing, Transportation, Distribution, Customs Clearance, and Others. Transportation tends to have the largest market share in the Global Freight Packing Services Market. Transportation is a fundamental aspect of the supply chain and is vital in moving goods from one location to another. It is required for domestic and international trade to ensure that goods reach their intended destinations.
- By Mode of Transport, the Global Freight Packing Services Market is classified into Air, Sea & Inland Waterways, Rail, and Road. Road transportation has the largest market share and is used more frequently than other modes. Road transportation provides extensive accessibility, reaching even remote locations where other modes of transport may have limited coverage. It offers door-to-door service, allowing for direct delivery from the point of origin to the final destination.
- By Logistics Model, the Global Freight Packing Services Market is classified into First-Party Logistics (1PL), Second-Party Logistics (2PL), Third-Party Logistics (3PL), and Fourth-Party Logistics (4PL). Third-party logistics (3PL) is currently the most widely used and has the largest market share in the freight packing services industry. 3PL providers specialize in providing logistics services, including freight packing. They have extensive experience, expertise, and knowledge in managing various aspects of the supply chain. Their specialization allows them to optimize packing processes, ensure compliance with regulations, and offer efficient solutions tailored to the specific needs of their clients.
- By Customer Type, the Global Freight Packing Services Market is classified into Domestic and International. International freight packing services have a larger market share compared to domestic services. The interconnectedness of economies and global trade growth have increased demand for international freight-packing services. With businesses expanding their operations internationally and engaging in cross-border trade, the need for specialized packing services that comply with international regulations and standards has risen.
- By End-Users, the Global Freight Packing Services Market is classified into Agriculture, Fishing & Forestry, Construction, Manufacturing, Oil & Gas, Mining & Quarrying, Wholesale & Retail Trade, and Others. The manufacturing sector is typically one of the largest consumers of freight packing services. Manufacturing industries encompass various products, including automotive, electronics, machinery, and consumer goods. These industries require efficient and specialized packing services for transporting raw materials, components, and finished goods to various locations globally.
- By Geography, the Global Freight Packing Services Market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific. Americas has the largest market share. It is an important market for freight packing services due to the significant trade activities and well-established logistics infrastructure in countries like the United States.
Recent Development
- The UPS Store, Inc. announced that it would expand its freight packing services to include more markets in the United States. This expansion is part of UPS's larger goal of becoming a one-stop shop for all shipping needs. - January 2023
- FedEx also announced that it would be expanding its freight packing services. FedEx's expansion includes new packaging materials and services, as well as a new online tool that helps customers create custom packing instructions - January 2023
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are J.B. Hunt Transport Services, Mediterranean Shipping, Nippon Express, Panalpina Welttransport, etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis for the Global Freight Packing Services Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Freight Packing Services Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Freight Packing Services Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Freight Packing Services Market, By Service
7 Global Freight Packing Services Market, By Mode of Transport
8 Global Freight Packing Services Market, By Logistics Model
9 Global Freight Packing Services Market, By Customer Type
10 Global Freight Packing Services Market, By End-Users
11 Americas' Freight Packing Services Market
12 Europe's Freight Packing Services Market
13 Middle East and Africa's Freight Packing Services Market
14 APAC's Freight Packing Services Market
15 Competitive Landscape
16 Company Profiles
17 Appendix
Companies Mentioned
- A.P. Møller - Maersk Group
- BDP International, Inc.
- C.H. Robinson Worldwide, Inc.
- CEVA Logistics Ag
- CMA CGM S.A.
- COSCO Shipping Holdings Co., Ltd.
- Damco International B.V.
- Deutsche Bahn Ag
- DHL International GmbH
- DSV Panalpina AS
- Expeditors International Inc.
- FedEx Corp.
- Geodis SA
- Hapag-Lloyd Ag
- Hellmann Worldwide Logistics GmbH & Co. KG
- J.B. Hunt Transport Services, Inc.
- Kerry Logistics Network Ltd.
- Kuehne + Nagel International Ag
- Mediterranean Shipping Co. S.A.
- Nippon Express Co., Ltd.
- Panalpina Welttransport Ag
- Sinotrans Ltd.
- Toll Group
- United Parcel Service, Inc.
- XPO Logistics, Inc.
- Yusen Logistics Co., Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 201 |
| Published | February 2024 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 32.47 Billion |
| Forecasted Market Value ( USD | $ 41.07 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
