LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the logistics market for the apparel contract manufacturing industry in Europe provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the logistics market for the apparel contract manufacturing industry in Europe will grow at a CAGR of close to 14% during the forecast period. The shift in apparel manufacturing from Europe to Asian countries is a major factor driving the market’s growth.
The apparel industry in Europe has been facing a shift in apparel manufacturing bases to the Asian countries since 1990. In early 1980's, the Europe region was a major apparel manufacturing center globally. There was a shift in apparel manufacturing bases from Europe to the developing Asian countries after a certain period of time. The intensity of the shift in apparel manufacturing bases has grown owing to the increasing cost of manufacturing in the European region.
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In this report, Technavio highlights new vendor selection and evaluation criteria adopted by customers as one of the key emerging trends in the logistics market for the apparel contract manufacturing industry in Europe:
New vendor selection and evaluation criteria adopted by customers
The apparel industry has massive outsourcing operations that provide logistics players with huge opportunities in domestic and international operations making it a highly competitive industry. Several challenges are faced by the logistics players that are handling the supply chain of the apparel contract manufacturing industry. Any sort of disruption in the supply chain can lead to a huge loss for the apparel company. To have a minimal impact on their supply chain, apparel companies have redefined the selection process for choosing their logistics players.
“Logistics providers have been categorized into three groups, based on the new selection criteria. They are primary level logistics providers, secondary level logistics providers, and tertiary level logistics providers. The logistics player provides only truckload, audit, and other related services in the primary level. In the secondary level, the logistics player offers brokerage, less than truckload, and other similar services. In the tertiary level logistics players will be providing complete logistics functions such as warehousing and third-party logistics services. The evaluation criteria employed by apparel contract manufacturers are compelling the logistics players to have self-assessment performance metrics to survive in the competitive market,” says a senior analyst at Technavio for research on transportation and distribution.
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Logistics market for the apparel contract manufacturing industry in Europe segmentation
This market research report segments the logistics market for the apparel contract manufacturing industry in Europe into the following applications, including transportation and warehousing and distribution and key regions, including Western Europe and Eastern Europe.
The transportation segment held the largest market share in 2017, accounting for nearly 41% of the market. The market share for this application is expected to increase by 2022. In Europe, apparel contract manufacturers use various modes of transportation such as air, road, and seaways to export or import products depending upon the distance between the two countries. They also provide services such as freight forwarding, project logistics, cargo insurance, network planning and optimization, and customs brokerage. Such factors are leading towards its market dominance.
Western Europe was the leading region for the logistics market for the apparel contract manufacturing industry in Europe in 2017, accounting for a market share of nearly 65%. By 2022, Eastern Europe is expected to witness the highest growth rate.
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