The global 3PL market in the FMCG industry is expected to grow at a CAGR of close to 6% from 2018-2022, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global 3PL market in FMCG industry 2018-2022 under their transportation and logistics library. (Graphic: Business Wire)
3PL market in the FMCG industry segmentation by end-user and geography
Technavio’s report on the global 3PL market in the FMCG industry analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-user which includes food, beverage, personal care, and household care. As projected in 2017, around 30% of the market share originated from the food segment. This is due to the rising sales of packaged food owing to the increasing demand for convenience food.
Based on geography, the global 3PL market in the FMCG industry has been segmented into the Americas, APAC, and EMEA. As of 2017, 36% of the market share came from APAC.
“The cosmetics industry in the personal care category is expected to witness significant growth in APAC, owing to the rise in disposable income. The upper-middle-class in Asia is expected to increase by more than 40% by 2021 in comparison to 2015,” says a senior analyst at Technavio for logistics research.
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3PL market in the FMCG industry: competitive vendor landscape
The global 3PL market in the FMCG industry is fragmented with many international players such as C. H. ROBINSON and Nippon Express. 3PL service providers in the market compete intensely based on price, delivery speed, reliability, and supply chain capacity. Companies can differentiate their service offerings by offering value-added services. Several players in the FMCG logistics market are adopting M&A strategies to increase the product portfolio and expand their geographical presence.
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Other topics covered in the report:
Market drivers:
- Increased need for 3PL
- Rising food imports and exports
Market trends:
- Growing popularity of autonomous vehicles
- Rising popularity of IoT
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