FREIGHT FORWARDING MARKET ANALYSIS

Regional Analysis

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North America has dominated the global freight forwarding market with a market share of 41.2% in 2024, owing to strong economic growth and international trade in the region. The presence of major global forwarding companies and headquarters of several multinational corporations in the U.S. and Canada has propelled the market growth. With high import and export volumes between NAFTA nations and other trading partners in Europe and Asia, the freight forwarding infrastructure is highly developed to support sophisticated supply chains. The massive scale of B2B operations requiring efficient logistics services has benefited freight forwarders.

A fast-growing regional market is Asia Pacific with a CAGR of 5.6%. International trade activity has risen exponentially within the region and with trading partners globally. China remains the manufacturing powerhouse and largest exporter, while other nations increasingly contribute to regional trade volumes. The continued emergence of multinationals based in large Asian economies and their extensive trade links have boosted demand for freight forwarding services. The strategic location of APAC countries along major global shipping routes amplifies the demand for options in transporting goods by sea as well as other modes. Furthermore, market growth has been fostered by the rising incomes of middle-class populations demanding greater import volumes of consumer and industrial goods.

Several freight forwarders have leveraged the opportunities in the largest and most populated region globally by establishing extensive networks throughout Asia Pacific. This allows them to offer localized understanding and services to global shippers while also supporting domestic and intra-regional trade flows. The highly competitive markets in major hubs have kept pricing competitive to appeal to price-sensitive shippers. Overall market dynamics in the fast-growing Asia Pacific region presents attractive prospects for freight forwarders able to meet demand from increasingly internationalized production and consumption patterns.