Evolve Business Intelligence has published a half-cooked research report on the Global 3PL in FMCG Market, 2021–2030. The global 3PL in the FMCG market is projected to exhibit a CAGR of around 6% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global 3PL in the FMCG market: CEVA Logistics, C.H. ROBINSON, Deutsche Bahn, Deutsche Post DHL Group, Kuehne + Nagel, and Nippon Express.
The global 3PL in the FMCG market is projected to be valued at $ XX Billion by 2030, recording a CAGR of around 6% during the forecast period. The 3PL industry is a vital branch of logistics services in the FMCG market and spans functions such as storage and distribution, packaging, and transportation. The main reason for outsourcing these services is the reduction of costs, although there are other factors, including the desire to focus on core competencies and improve the supply chain’s efficiency.
The outbreak of the coronavirus disease led to a ban on transportation, distorted supply chains, and created shortages in raw materials. As a result, trading activities were discontinued around the world with an inability to import or export goods. This cascaded into growth stagnation for 3PL in the FMCG Market. The global situation has been looking up, with government bodies relaxing the dictums and the market is projected to bounce back soon. The situation has looked bleak in recent years but this trend shows that it might be getting better.
The global 3PL in the FMCG market has been segmented based on the Product Type, Application, and region.
By Product Type, the 3PL in the FMCG market is segmented based on Distribution and Retail. The Distribution segment dominates the market because of the experienced and large number of third-party logistics providers, who take a product’s distribution through the warehouse supply chain to retail. Key players in this segment are DB Schenker and Panalpina, Bemis, XPO Logistics, and C.H. Robinson.
Based on Application, the 3PL in the FMCG market is segmented based on Food and Beverages, Personal Care, and Household Care. The Food and Beverage segment is anticipated to hold the largest market. The dominance of the Food and Beverage segment can be attributed to several food segments, including dry packaged goods, beverages, cheese, and dairy products, frozen foods, ingredients suppliers, and last but not least meat processors. Many types of companies of various sizes ranging from multi-billion dollar organizations to those with a few hundred million in revenue.
The 3PL in the FMCG market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. The North American region is projected to dominate the global 3PL in the FMCG market. The region has a huge coastline supporting the 3PL service providers. Also, the region has many important locations/hubs for logistics management. The Asia-Pacific region is expected to grow with the highest CAGR in the forecast period. The rising population combined with increasing disposable income in the region with help in the growth of the market. The European countries have been experiencing consistent growth in the 3PL in the FMCG market over the past few years. The growing e-commerce sector and improved efficiency by truck logistics companies have boosted the market. The Middle East, Africa, and Latin American region has been experiencing consistent growth in the 3PL in the FMCG market due to the quick adaptation of the latest technology and new opportunities as and when required.