LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global consumer packaged goods (CPG) logistics market is expected to grow at a CAGR of close to 6% during the forecast period.
This research report titled ‘Global CPG Logistics Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Sharan Raj, a lead analyst at Technavio for research on logistics, says, “The global CPG logistics market is likely to grow steadily during the forecast period because of increased outsourcing of transportation and warehousing services from the CPG sector and demand for professional logistics and supply chain solutions. The growing number of M&A in the market has also added to its growth.”
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Based on logistic services, the report categorizes the global CPG logistics market into three segments. They are:
- Value-added services
Global CPG logistics market by transportation
The global CPG logistics market by transportation is expected to grow steadily during the forecast period. Transportation includes the movement of CPG products from one location to another through different modes like road, rail, and sea. Development of optimized trade or freight route or network design and complex supply chain system of the CPG sector is a major concern for CPG firms in the market. These CPG firms are opting for contracts logistics or 3PL service vendors to enhance their SCM process to reduce logistics cost and optimize trade flow. Transportation service providers are using IT-enabled services and integrating big analytics for SCM to develop enhanced supply chain model for CPG firms. Shortage of skilled truck drivers is a major concern for freight logistics companies, which may hinder the growth of the market during the forecast period.
Global CPG logistics market by warehousing
The global CPG logistics market by warehousing was valued at USD 13.58 billion in 2015 and will reach USD 18.3 billion by 2020, growing at a CAGR of 6.15%. Technavio researchers predict this segment to experience steady growth during the forecast period. Warehousing includes storage of goods and providing inventory-keeping services. The growing real estate business in Europe and APAC has driven the growth of the market. Vendors in the market are providing state-of-the-art infrastructure for the storage of goods, equipped with all facilities. In addition, the adoption of warehouse management system (WMS) for better inventory management has propelled the growth of the market.
Global CPG logistics market by value-added services
The global CPG logistics market by value-added services was valued at USD 4.25 billion in 2015 and will reach USD 5.95 billion by 2020, growing at a CAGR of 6.93%.
Value-added services provided by CPG logistics vendors include customs clearance, reverse logistics, after-sales support, assortment and grading, packaging and labeling, site selection, fleet management, vendor management, and providing solutions through management information systems (MIS). Very few players provide one-stop solutions. “The market is witnessing a trend where shippers prefer to opt for 3PL providers that offer a one-stop solution and avoid the tediousness associated with outsourcing different tasks to different vendors,” says Sharan.
The top vendors highlighted by Technavio’s research analysts in this report are:
- CEVA Holdings
- Deutsche Bahn
- Ryder System
- Schneider National
- UTi Worldwide
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