Pune, India, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The global FMCG logistics market size was USD 103.57 billion in 2020. The market is projected to grow from USD 105.85 billion in 2021 to USD 131.54 billion in 2028 at a CAGR of 3.15% during the 2021-2028 period. Fortune Business Insights™ publishes this information in its report titled, “FMCG Logistics Market, 2021-2028.”
According to our analysts, proper management through the supply chain activities in each region, storage and transportation services helps the FMCG logistics industry achieve its business goal.
Industry Development:
- May 2021: SupplyOn, which is the supply chain business network for the automotive, aerospace, railway, and manufacturing industries, has been acknowledged for the third time in a row as a leader in Gartner Magic Quadrant “Multienterprise Supply Chain Business Networks.”
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Drivers and Restraints:
Rise in Implementation of IoT-Empowered Connected Devices to Fuel Market Growth
Progressive technological movements and their adoption in FMCG applications have completely modified the market. Companies have begun preparing their FMCG supply chain by integrating novel-period technologies, such as IoT, analytics, big data, and robotics.
Executing modern technology in logistics, such as drone delivery, has deteriorated the lead time and catalogue records for FMCG companies, thereby accomplishing their consumer demand for fast delivery. This factor is projected to spur the FMCG logistics market growth and elevate demand during the mentioned timeframe.
COVID-19 Impact:
Mobility Limitations Inflicted Owing to COVID-19 Set to Hinder Market Growth
The global outbreak of the COVID-19 pandemic has had an adverse impact on the supply chain and logistics industry, as it had been delayed due to the prompt spread of COVID-19 in the world. This pandemic has triggered enormous ambiguity and panic for all industrial value chain members involved. Furthermore, according to Institute for Supply Management research, supply chain commotions have budded worldwide, and nearly 76% of businesses have had to decline revenue goals by an aggregate of 23%.
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Market Segments:
Based on the mode of transportation, the market is segmented into Railways, Airways, Roadways, and Seaways. The roadways segment holds the largest share globally and is projected to preserve its leading position in the market throughout the forecast period.
The market is segmented into food & beverages, personal care, household care, and other consumables in terms of product type.
Geographically, the global market is segregated into North America, Europe, Asia Pacific, and the rest of the world.
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Regional Insights:
Asia Pacific region is expected to exhibit the highest CAGR during the forecast period and also held the maximum FMCG logistics market share. The sector has been perceiving sturdy growth, navigated by augmented expenditure power among the middle-income class and deteriorating cost of production, which was a consequence of commoditization.
North America holds the second-largest position in the market as the existence of a varied coastline is approved with a wealth of travel destinations.
Europe region is anticipated to be the fastest-growing region in the upcoming years.
Competitive Landscape:
Collaborations among Companies to Safeguard Their Brand Values in Global Market
Indispensable players in the market are constantly opting for operative approaches to promote their products and establish their positions in the market. One such stratagem is to unveil novel products by merging or collaborating with other companies to expand their availability to end-users.
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List of Key Players Covered in this Market Report:
- DHL Group (Bonn, Germany)
- Kuehne + Nagel (Schindellegi, Switzerland)
- C.H. Robinson (Minnesota, U.S.)
- Ceva Logistics (Marseille, France)
- FedEx Corporation (Tennessee, U.S.)
- Nippon Express (Tokyo, Japan)
- DB Schenker (Essen, Germany)
- Agility Logistics (California, U.S.)
- Bollore Logistics (Puteaux, France)
- FM Logistics (Roissy-en-France, France)
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