Freight Forwarding Market Growth Analysis - Market Size, Share, Forecast Trends and Outlook Report (2025-2034)

The global freight forwarding market size reached around USD 220.32 Billion in 2024. The market is projected to grow at a CAGR of 4.70% between 2025 and 2034 to reach nearly USD 348.76 Billion by 2034. The market growth can be attributed to the growing volume of container shipments worldwide and the soaring appeal of air freight among customers. The increasing adoption of digital tools for streamlining supply chain management and the growth of B2B shipments are also favourably impacting the market growth rate.

Global Freight Forwarding Market Growth

To minimise supply chain disruptions, boost efficiency, and improve inventory management practices, businesses are focusing on improving their visibility of supply chain operations. As per industrial analysis, the number of medium-sized businesses (employing 2,500-5,000 employees) focusing on improving supply chain visibility increased from 30% in 2022 to 55% in 2023. For around 55% of large businesses, visibility has consistently remained the topmost business priority. This is expected to favourably influence the freight forwarding market dynamics in the upcoming years.

Seaways is one of the most important means of freight forwarding globally. Nearly 76% of all US trade involves maritime routes, and around USD 1.5 trillion worth of goods are traded through American ports annually. There are nearly 15,000 miles of commercially navigable waterways in the United States. Moreover, as per the freight forwarding market analysis, around 90% of global trade is involved in maritime transportation. Nearly 11 billion tons of items (1.35 tons per person) are shipped annually through waterways. Over the forecast period, mass consumerism and rapid economic growth are expected to bolster the market growth.

Key Trends and Developments

Growing emphasis on sustainability; rising marine fleet size; the surging trend of market consolidation; and increasing investments in supply chain management are the major factors favouring the freight forwarding market growth.

November 2024

Kuehne+Nagel International AG acquired a 51% stake in IMC Logistics, a US-based company engaged in providing end-to-end transportation solutions. This has enabled it to expand its existing logistics portfolio to include distribution, warehousing, and inland transportation solutions.

October 2024

CEVA Logistics established a joint venture partnership with Saudi Arabia’s Almajdouie Logistics to create CEVA Almajdouie Logistics, which is dedicated to catering to the increasing demand for integrated logistics solutions in the Middle East region. This collaboration is aimed at enhancing the availability of supply chain solutions in the region for key industry players.

September 2024

DSV A/S signed the agreement for the acquisition of DB Schenker for EUR 14.3 billion. This is expected to lead to the creation of the world’s biggest freight forwarding company in terms of revenues and volume, which can provide competitive and comprehensive logistics services to its clients.

February 2024

FedEx Express and FedEx Logistics launched the FedEx LCL (Less-than-Container Load) priority service, which offers a simple solution for connecting the Middle Eastern and Asia Pacific countries for cargo transportation through a wide network of roads and sea routes. This can enhance the delivery speed and provide businesses in the Asia Pacific and the Middle East with reliable and cost-effective shipping solutions while improving global connectivity.

Growing shift towards sustainability

Due to increasing environmental consciousness among consumers, reportedly 48% of manufacturers are working to improve the sustainability of supply chain operations. This includes investments in low-emission vehicle fleets, carbon offset programs, and recyclable packaging. This is expected to favourably impact the freight forwarding market dynamics.

Rising marine fleet size

As per BIMCO, an international shipping association, the size of the global ocean fleet is expected to increase substantially by over 2.7 million TEU in the coming years. This is expected to surge the freight forwarding market value, as larger fleets can facilitate efficient routing and scheduling, thereby reducing the cost and time of goods’ transportation. Moreover, the integration of new digital platforms into marine fleets is expected to considerably improve service delivery and drive market growth in the coming years.

Increasing trend of market consolidation

Many independent freight forwarders are collaborating with different companies to achieve business success. These mergers are enhancing their access to bigger networks, shared resources, and advanced technologies, thereby boosting competitiveness in an evolving market. This has streamlined supply chain operations and improved customer satisfaction, driving the freight forwarding market development.

Increasing investments in supply chain management

Climate change and geopolitical tensions pose a significant challenge to the market growth, which is prompting market players to make increasing investments in supply chain optimisation. This enhances their flexibility in adapting to different market conditions and maintaining business stability.

Global Freight Forwarding Market Trends

Growing demand for freight forwarding services from Europe

The European Union supports seamless cross-border trade as it has a supportive regulatory framework and international trade agreements to facilitate the smooth exchange of goods. Its strategic location as a global trade hub with an excellent infrastructure has led to a sustained increase in the demand for logistical services, thereby driving the freight forwarding market development. The growth of international trade and the e-commerce industry is further expected to necessitate the need for fast delivery options and efficient supply chains, thereby driving the market growth.

Shift towards sustainability

Amid rising environmental consciousness, freight forwarding companies are transitioning to sustainable manufacturing practices by focusing on electrification and ensuring natural resource management, which is boosting the freight forwarding market revenue. Besides, companies are attempting to reduce water consumption, switch towards renewable energy resources, and lower Scope 3 emissions.

Global Freight Forwarding Industry Segmentation

The EMR’s report titled “Global Freight Forwarding Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Mode of Transport

• Road
• Maritime
• Rail
• Air

Breakup by Customer Type

• B2B
• B2C

Breakup by End Use

• Industrial And Manufacturing
• Retail
• Healthcare
• Oil And Gas
• Food And Beverages
• Others

Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Freight Forwarding Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2025-2034, the demand for freight forwarding solutions in the Asia Pacific and Latin America is expected to grow at a CAGR of 5.4% and 5.1% respectively. The growth of the freight forwarding market in these regions can be attributed to the growth of international trade and increasing government investments in port and infrastructure development.

Based on the mode of transport, the market can be divided into road, maritime, rail, and air. Over the forecast period of 2025-2034, air and rail are expected to grow at a CAGR of 5.5% and 5.1% respectively, due to the growth of the global aviation sector and the expansion of existing logistical infrastructure worldwide.

Leading Companies in the Global Freight Forwarding Market

Major freight forwarding market players are focusing on increasing supply chain visibility and adopting greener strategies. They are also expanding their existing global networks while leveraging various digital platforms to improve their operational efficiency. Increasing investments for the establishment of automated warehouses and AI-driven solutions can optimise supply chain management, thereby driving the market growth in the coming years.

CEVA Logistics

CEVA Logistics was founded in 1946 and is headquartered in Marseille, France. It specialises in providing 3PL, freight forwarding, warehousing, and contract logistics services worldwide.

Nippon Express Co., Ltd.

Nippon Express Co., Ltd. was founded in 1937 and is headquartered in Tokyo, Japan. Its network of freight forwarding spans 57 countries and it is amongst the top 10 logistics companies worldwide.

Expeditors International of Washington, Inc.

Expeditors International of Washington, Inc. was founded in 1979 and is headquartered in the United States. It is a Fortune 500 company which is engaged in providing logistics services in 100+ countries in over 350 locations.

DB Schenker

DB Schenker was founded in 1872 and is headquartered in Essen, Germany. It has over 725 warehouses worldwide and is engaged in providing logistical services in over 1,800 locations worldwide.

Other players included in the freight forwarding market report are Kuehne+Nagel International AG, Deutsche Post AG, DSV A/S, FedEx Corp., United Parcel Service of America, Inc., and Manitoulin Global Forwarding, among others.
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