Freight Forwarding & Customs Agents in the UK - Industry Market Research Report

Hold up: Industry revenue is inching upwards in 2022-23, constrained by slashed business confidence and inflation

Over the five years through 2022-23, revenue is expected to contract at a compound annual rate of 2.2%. The dip in revenue is primarily a result of COVID-19 disruptions and the continued effects the COVID-19 outbreak has had on supply chain disruptions. The industry started the period from a low, with freight forwarding rates contracting off the back of falling oil prices and the lower prices for shipped freight due to slow steaming. Furthermore, reduced business confidence in the lead-up to the UK's departure from the EU reduced demand for freight forwarding and customs agents. This industry provides support services to freight transport industries. These include freight forwarding, customs and freight brokerage, stock consolidation and goods-handling operations. The industry does not provide passenger transport, tourism activities, courier services or transport insurance. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.